For example, you might decide that 20 pips is a significant move for the GBP/USD currency pair, and that anything smaller than this is simply a distraction. With the Renko indicator, you only get a new bar plotted if the price change meets your set requirement. This is quite different to a regular chart, with which you always receive a new bar as time progresses. This filtering out of smaller price movements keeps the focus on significant moves, and helps you to disregard noise. ![]() Price changes that don't clear this hurdle are ignored. In contrast, a Renko chart is only concerned with price, and not time – and it only displays price changes that meet a certain minimum magnitude. ![]() ![]()
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