Thread: How to read Renko graphics in TrainingView?

Hello, I am interested in learning to use Renko graphics in TrainingView.I have seen that many traders use them to identify trends and avoid market noise, but I still don't know how to configure them correctly.Could anyone explain how to read and adjust Renko graphics in tradingView for a more effective trading?

Renko graphics, h.They are not as difficult as they seem, but I warn you, they are not the magical solution that everyone looks for.Basically, they show you the price movement eliminating the time factor, but you have to adjust the size of the block well.Play with ATR or choose a fixed size, but don't expect miracles.

Renko graphics are great to see clear trends without the noise of traditional candles.In TrainingView, you can configure them by graphic options and selecting `` Renko ''.You must adjust the block size based on market volatility or your trading preferences, ATR is usually used (average real range

In addition, remember that Renko may seem delayed with respect to the real price because he needs to complete a block to show movement.So, if you operate based on these graphics, you could enter an operation late.Compensate with an additional analysis, do not blind yourself with Renko.

One of the advantages of Renko graphics is that they eliminate a lot of market noise and help you see the main trend.However, keep in mind that they also have a delay compared to traditional candles because they are not updated until a complete block is completed.You can use Renko in combination with other indicators such as mobile stockings or RSI to confirm signals.

And if you use Renko to identify tickets and exits, be careful with the markets in range.Renko does not distinguish well between consolidation and weak tendency.At the end of the day, no tool is perfect;The key is how you combine it with other analysis.

Another important thing is to understand that Renko graphics do not take into account time, only the price movement.This can be beneficial, but you can also give you an incomplete image if you do not combine it with other types of analysis.It is ideal to follow medium and long term trends, but it might not be the best for high frequency day trading.

Exactly, and in addition, the Renko graphics can make you lose scalping or day trading opportunities, because by when the block is completed, the action has already left.I do not recommend it for traders looking for rapid entries and outputs.