Renko Chart modified

In a usual renko chart a brick is shaped when determined pips move in 1 direction but the brick begins to dissolve if pips start moving in opposite direction and this continues until a new brick is shaped when pips move twice the determined value. Can there be a renko chart when after forming a brick if price reverses a new opposite brick is shaped instead of same brick dissolving. E.g Eur/Usd is at 1.3500. I open a Renko chart with 100 pip brick setting. The price goes to 1.3600 along with also a green brick is shaped, but from there that the price reverses back to 1.3500 eating up the green brick. I'd like that instead of eating the green brick a new red brick is formed of 100 pips adjacent to the initial green brick. This way we can know how many times the price whipsawed between these two figures.

Thankyou very much Halley. Although I have yet to find and make out precisely what you propose, but a lot of thanks for the helping attitude. God Bless and happy trading.

It's same if u use the zig zag

nothing particular on renko. .

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Originally Posted by ;

In a normal renko chart a brick is shaped when determined pips proceed in one direction but the brick begins to dissolve when pips begin moving in opposite direction and this continues until a new brick is shaped when pips proceed twice the value that is determined. Can there be a renko chart when after forming a brick when price reverses a new opposite brick is shaped instead of same brick dissolving. E.g Eur/Usd is at 1.3500. I open a Renko chart with 100 pip brick setting. The price goes to 1.3600 and a green brick is shaped, but out of the price yells back...

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Maybe you ought to have a look at point and figure charts ( if you do not know it already ), it does exactly that.

https://www.forexforum.co.za/attachm...1904664049.jpg

If you mean this one then look for a Point Initial Chart.
Https://www.forexforum.co.za/attachments/1527561009.jpg
in case you have MT4, then there are several free and commercial indiors which build the PointO charts. I did not test them as this one worked for me nicely: Omnia Charts