Hi again Robin
Renko bars (like Range bars) are time-independent (that's why these bars can only be built out of the fundamental 'atomic' structure of price data: ticks).
A bar type can be either time-based, such as 1 min or a non-time based, such as Renko, but not both.
You can find out more about Renko bars at these links:
This is a video:
Renko charts are very smooth but that smoothness comes at a price. Price can reverse almost twice the Renko bar length without this being shown on the chart.
But they are great to use, once you get the hang of them.
Renko bars (like Range bars) are time-independent (that's why these bars can only be built out of the fundamental 'atomic' structure of price data: ticks).
A bar type can be either time-based, such as 1 min or a non-time based, such as Renko, but not both.
You can find out more about Renko bars at these links:
This is a video:
Renko charts are very smooth but that smoothness comes at a price. Price can reverse almost twice the Renko bar length without this being shown on the chart.
But they are great to use, once you get the hang of them.
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