Renko chart strategy

prst

Well-Known Member
#12
Is there any website that provides renko charts for Indian stocks
 
#13
Hai,
Try the follwing renko box size and experience how amazing it works.
GOLD
Renko box size =36
Renko time frame=16
CRUDE
Renko box size=1661
Renko time frame= 16
BANK NIFTY
Renko box size=7090
Renko time frame=16
NIFTY
Renko box size=2444
Renko time frame=16
These are the settings i am using in metatrader.
Can you please show some charts ??
 
#14
first of all you need tick data for renko chart
renko charts are independant of time so if you interpolate it with any time frame other than tick, then you are cheating yourself like the cat who drinks milk with shut eyes thinking no body is watching it, meaning the tick data on which renko is dependant, will be compressed with the introduction of timeframe, thus will not plot the true price movements as and when it happens and therefore you will not know the actual price movements which happened within every preiod of timeframe set value.
if you have been making profit trading your method, then you have been just plain lucky.
agree 100% :thumb:
 
#15
Hai,
Try the follwing renko box size and experience how amazing it works.
GOLD
Renko box size =36
Renko time frame=16
CRUDE
Renko box size=1661
Renko time frame= 16
BANK NIFTY
Renko box size=7090
Renko time frame=16
NIFTY
Renko box size=2444
Renko time frame=16
These are the settings i am using in metatrader.
How come the Box size of bank nifty is 7090 ? little confusing.
 

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