wojtek wrote: Thu Sep 21, 2023 5:43 am Renko and other synthetic charts as constant range bars
have many visible advantages, but to trade with them
you need to have at least some semi-automatic solutions,
as sometimes you can have a very strong movement
counting many bricks during a few seconds, and
- on the other hand - a small number of bricks can
form during e.g. a few days when the market is quiet enough.
So, the absence of time (by definition characterizing the Renko charts)
can be regarded as their main disadvantage.

I don't see a lot of people talking about the last point, but I would argue Renko charts can be even more advantageous for assessing the movement of price over time.

You said: "Sometimes you can have a very strong movement counting many bricks during a few seconds, and - on the other hand - a small number of bricks can form during e.g. a few days when the market is quiet enough"

However, you can use the x-axis (time) and take a look at the Renko chart to see what was happening with price. When you see a large span of time take place between a few bricks, you know price was in consolidation and not a lot of activity was going on. Likewise, seeing a short period of time take place between many bricks tells you market conditions were highly volatile.

It can give you great insight into when the best times are to trade a certain instrument as a short-term trader. Load up a Renko chart for any of the indices, compare how many bricks form (and the range of price over which they form) during the time when their corresponding markets "open" and when they are inactive.

Let me know if this clears up my thoughts.

TransparentTrader wrote: Thu Sep 21, 2023 6:01 am However, you can use the x-axis (time) and take a look at the Renko chart to see what was happening with price. When you see a large span of time take place between a few bricks, you know price was in consolidation and not a lot of activity was going on. Likewise, seeing a short period of time take place between many bricks tells you market conditions were highly volatile.

Yes, that's correct, it's according to someone's personal preference.
I tried Renko bars years ago and didn't like them too much.
The choice of the brick size was confusing, maybe some kind
of adaptable Renko would be interesting, etc.
But if you like Renko, then try also constant range bars.

wojtek wrote: Thu Sep 21, 2023 6:12 am Yes, that's correct, it's according to someone's personal preference.
I tried Renko bars years ago and didn't like them too much.
The choice of the brick size was confusing, maybe some kind
of adaptable Renko would be interesting, etc.
But if you like Renko, then try also constant range bars.

To my knowledge, there are two types of "adaptable" Renko bar sizes you can use.

One is where you set the Renko bar to an ATR value based on a timeframe of your choosing. Of course, the bars would adjust in size every time one unit of that timeframe passes by. So if you chose an ATR value and set the timeframe to 4 hours, the box size would change every 4 hours.

Two, and I'm not so familiar with this one, you set the Renko bar to a certain percentage of an instrument's price. The only problem is that I don't know if this box size would be inherently fixed in perpetuity depending on the percentage of price you chose, or if it keeps changing as price changes (and if so, how often does said change occur).

Interesting Renko attributes.

Time spacings depict volatility. Further apart = high volatility, closer = low volatility. When the bricks are being laid down very quick = very high volatility.

Volume histo bars show high volume over time, note the relation between volume height histo and 'time to form' histo bars, so high volume histo bars might mean high volume with high volatility or high volume after a protracted battle between buyers and sellers lasting a long time before the pip brick size has been achieved.

Chart is Evolution (median) 5 point, try comparing with MathTrader7 (Rail to Rail) 5 point.