What it shows
Renko charts draw fixed-size bricks that only appear when price moves a set amount, ignoring time and volume entirely. A new brick is added diagonally up or down once price extends a full brick beyond the last brick, and a reversal requires movement of typically two brick sizes in the opposite direction. The result is a staircase of uniform bricks that filters out all movement smaller than the brick size.
How it's built
Choose a brick size, either a fixed price amount (traditional) or an ATR-derived value; a new up brick prints when price closes or trades one brick size above the top of the last brick, and a down brick when it falls one brick below its bottom, with reversals needing the extra brick. Bricks are price-based: horizontal spacing has no relation to elapsed time, and quiet hours may print nothing while volatile minutes print many bricks.
Switch to it
Open the chart-type menu in the header (next to the interval buttons) and pick Renko — or pin it as a favourite for one-click switching.
When to use it
- Filtering chop to reveal the underlying trend and clean swing structure
- Objective trailing-stop and reversal rules based on brick flips
- Cleaner support and resistance levels, since bricks align to a fixed price grid
- Reducing overtrading by hiding sub-threshold noise
Settings reference
Open Chart Settings (gear, or double-click the chart background) with this type active. Every setting, its possible values and what it changes:
| Setting | Control | Possible values | Default | Effect |
|---|---|---|---|---|
| Colors | two-colors | any color (up / down) | #089981 (up) / #F23645 (down) | Sets the fill color of rising and falling bricks, so you can tell up-moves from down-moves at a glance. |
| Border | two-colors | any color (up / down) | #089981 (up) / #F23645 (down) | Sets the outline color drawn around up and down bricks; pick a contrasting color to make brick edges stand out. |
| Projection fill | two-colors | any color (up / down) | #a9dcc3 (up) / #f5a6ae (down) | Fill color of the still-forming (projected) brick at the right edge, which repaints until the brick is confirmed. The pale defaults visually separate it from confirmed bricks. |
| Projection border | two-colors | any color (up / down) | #a9dcc3 (up) / #f5a6ae (down) | Outline color of the forming projection brick, matching or contrasting with its fill. |
| Show wicks | checkbox | on/off | on | Draws thin wicks on bricks showing how far price probed beyond the brick body within the period before the brick closed. Turning it off leaves clean rectangular bricks only. |
| Wick | two-colors | any color (up / down) | #089981 (up) / #F23645 (down) | Color of the wicks on up and down bricks (only visible while Show wicks is on). |
| [Inputs] Style | select | ATR, Traditional, Percentage (LTP) | ATR | Chooses how the brick size is computed: ATR derives it from recent volatility, Traditional uses a fixed price amount you enter, Percentage (LTP) sizes bricks as a percent of the last traded price. The dialog then shows the matching input (ATR Length, Box Size or Percentage). |
| [Inputs] ATR Length | number | 1 to 100, step 1 (shown only in ATR style) | 14 | Number of bars in the ATR used to auto-size bricks. A longer length gives a smoother, slower-adapting brick size; a shorter one tracks recent volatility more closely. |
| [Inputs] Box Size | number | 0.01 to 99999, step 0.01 (shown only in Traditional style) | 5 | Fixed price movement each brick represents. A larger box filters more noise and produces fewer bricks but signals reversals later; a smaller box shows more detail. |
| [Inputs] Percentage | number | 0.01 to 100, step 0.01 (shown only in Percentage (LTP) style) | 1 | Brick size as a percent of the last traded price, so brick height scales automatically with the instrument's price level. |
| [Inputs] Source | select | Close, Open, High/Low, High, Low, HL/2, HLC/3, OHLC/4 | Close | Which price the brick engine consumes. Close builds bricks from closing prices only; High/Low uses bar extremes so bricks react to intrabar moves; the averaged sources smooth the input. |
| [Inputs] Reversal amount | number | 1 to 10, step 1 | 1 | How many boxes price must move against the trend before a reversal brick is drawn. Higher values suppress small counter-moves and keep the trend column running longer. |
| [Precision] Precision | select | Default, 0 (1), 1 (1.1), 2 (1.01), 3 (1.001), 4 (1.0001), 5 (1.00001), 6 (1.000001), 7 (1.0000001), 8 (1.00000001) | Default | Number of decimal places used for prices on the scale and labels. Default follows the symbol's own tick precision. |
Watch out for
- Time and gaps are hidden: a flat market shows nothing and one fast move can print many bricks, so time-based indicators and session context are distorted
- ATR brick sizes recalculate and can redraw history, and the in-progress brick is not final until the threshold is fully crossed