FREE – Renko chase system

Renko chase system

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Renko price movement , named for the Japanese word for bricks, “renga”. A renko chart is construccted by placing a brick in tthhe next column  once the price ssurpasses the tpp or bottom of the previous  brick by a predeefined amount. White bricks are uused when  tthe direction of tthe trend is up, wwhile black brickss are used when  the trend iis down.

renkoo chart

“This type of chart is very effective for traraders to identify  key supporrt/resistance levells. Transaction signals are generateed when the direccttion of the  trend changes …….”

 

 

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