Primarily, RENKO chart help us to eliminate noise or sideways movement of any script. Moreover, RENKO trading system is a fully automated trading bot, and doesn’t generate re-paintable signal.

Conceptually, RENKO chart is independent on time. Time can keep moving but RENKO can remain unchanged without any brick movement if the close price doesn’t cross the brick size as defined.

Due to the charting pattern it gives us an edge, as RENKO eliminates to create any new brick for small price movement according to its brick size.

How to set up trade in RENKO trading system

• In short, firstly you need to choose the brick size,
• secondly  the entry brick count, and
• thirdly the exit brick count.
• Once the above is done, you can sit back and relax. The system will do the rest for you.
• Buy and Sell signal shall generate based on your chosen entry and exit criteria.
• Moreover the system can be integrated with your Trading terminal too. 
• Fund management can also be customized based on Trader’s need.

You can learn more about RENKO in our blog post here.