Renko basics

[sus19in]

i have a very basic question regarding Renko charts. Instead of using pip value to define a brick size, can we use percentage value instead?
I feel that if we use 2pip value for a small value stock like Ashokleyland, then it might work fine. But if we use the same for high value stocks like TCS, then it would move very very fast.
So logically percentage value should solve the problem. Please let me know your views on it??

 

[mastermind007]

i have a very basic question regarding Renko charts. Instead of using pip value to define a brick size, can we use percentage value instead?
I feel that if we use 2pip value for a small value stock like Ashokleyland, then it might work fine. But if we use the same for high value stocks like TCS, then it would move very very fast.
So logically percentage value should solve the problem. Please let me know your views on it??

Neither pips nor percentage. Slab approach works best in renko

 

[sus19in]

slab approach?? never heard of it. can you please let me more about it in details...

 

[colion]

i have a very basic question regarding Renko charts. Instead of using pip value to define a brick size, can we use percentage value instead?

Renko charts are produced with price, percentage and ATR. Software that has Renko built in will usually provide two of these options. For example, MultiCharts offers price and percentage while others price and ATR. Perhaps some offer all three.