RENKO Trading

• 08/12/2020 at 12:50 PM #141482
  PhilipSchultz

  Hi everybody, does anyone have an idea about how i can calculate Renko chart?

  For example: If i look at the DAX between their opening hours i want to know how many green renko their having, and how many red they have.

  The reason i want to know this is to know if we are in a bullish or bearish trend.

  So for an example: If the time is 12:00 i want to know how many green renko we have and how many red we have. If we have 50 green renko and 30 red renko we are in a bullish trend. As soon as we have more red renkos we are in a bearish trend. Example 76 red renkos and 61 green renkos. Do you have any idea about how i can get this information without calculating the renkos by my self every time.

  My curent settings for renko is 2 units with a 1 minut timeframe.

  //Philip

  

  PhilipSchultz

  Participant

  Topics: 4

  Replies: 1

  Been thanked: 0 times
  08/13/2020 at 9:29 AM #141498
  Nicolas

  Why do we should use renko bricks for that purpose? If you are only looking if the price is ascending or descending, just compare the Dclose(0) with Dclose(1) (change from yesterday).

   

  1 user thanked author for this post.

  PhilipSchultz

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4775 times
• Author
  Posts