Renko Bars are different, because they measure only volatility and price action.
Renko bars count only ticks or pips, so if a Renko bar is set to 10 pips, you will only see a new candle appearing on your charts if the price moves higher or lower (depending on the trend direction) by 10 pips.
You can actually set Renko bars up yourself and are able to choose the number of ticks desired
Therefore if you set up your charts to 6 points per candle (that is what we use to scalp), you will see a new candle on your charts only if the price moves 6 pips higher or lower.
Pdf Content :
What is the difference between Renko Bars and Classic Candles?
Same Chart – Different look
What is a Scalper & Why Renko barsSetting up our Renko Bar EA on MT4
The Spartan FX Renko bar Scalping System
The general rules are quite simple!
How to place and manage your Trades
Day and Swing Trading with Renko Bars
Day Trader Settings & Rules for buy (long) trades
Day Trader Settings & Rules for short (sell) trades
Long & Short Renko 123 Setup Examples
It’s time to practice
Setup your Renko bar charts and Top down approach basics
Top Down, setups & and first member live trades
Renko bar trading without top down
Management examples & Renko Scalping rule basics
Different Setups and Ranges
GBP/JPY M16 Trade Example
M6,M16 and range breakouts
Follow up on open positions & members questions
Aggressive money management & scaling positions
Trading Plan & Trading Journal examples
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