Mcx trading with renko bars

R

rkkarnani

Well-Known Member
#129
#129
sateshchand said:

NG CHART
Click to expand...
I am totally new to Renko or similar charts ! Please reply a few very basic questions. I did try to find the answers on Net but still could not get a satisfactory answer.

All the "bricks" in your above chart are same size and are expected to be as we specify a brick size before hand. So why does the last BRICK in the chart has a "tail" as we find in a normal Candlestick charts. Similar tails are also visible in other charts. What does in signify?

As I understood, time is 'absent' in Renko charts, then why do we have 1 min. chart ! (I found a chart of Nifty posted and below it was written 1 mint chart.) ?

Is there any percentage rule or any other parameter for deciding the Brick size ?

Is it possible to Form Renko charts from data flow that creates 1 min. candles?

There was somewhere mentioned that the New bricks are added only after completion of the TF set for the chart , ie. if chart is of 15 min. TF , new bricks, if required to be added shall be added only on completion of 15 minutes and not before? This delay in addition of bricks can hamper the trades?

Please ignore my query if it is too basic, just guide me to a proper site or page on Net to gather further info.

Thanks for your sincere effort to help others !
 
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