{"id":397072,"date":"2020-11-13T09:57:10","date_gmt":"2020-11-13T08:57:10","guid":{"rendered":"https:\/\/ftmo.com\/?p=397072"},"modified":"2024-02-16T12:16:44","modified_gmt":"2024-02-16T11:16:44","slug":"renko-chart-a-new-perspective-to-inform-a-trader","status":"publish","type":"post","link":"https:\/\/ftmo.com\/en\/renko-chart-a-new-perspective-to-inform-a-trader\/","title":{"rendered":"Renko Chart – A new perspective to inform a trader"},"content":{"rendered":"

Is the time factor important in trading? Shouldn’t we rather focus on the price itself? Do large traders even care about what time it is and when the next candlestick closes, or do they just watch price levels instead? Even a small change can have a large impact on trading results and your trading plan.<\/em><\/p>\n

Renko Chart – A new perspective to inform a trader<\/h2>\n

Most of us are familiar with the traditional charts in form of candlesticks. We also use various time frames to adjust the perception of the chart according to our needs.<\/p>\n

So, we know that each candlestick signals a specific time span that we can analyze and determine what value it will take. \u00a0It is up to us if we are looking at candles on a minute frame or candle on a 1-hour frame.<\/p>\n

Now, the real question is – do we really need to consider the time as relevant information? Do buyers and sellers care about some time span data? Every trader might perceive this differently, and the time factor often has a slightly different meaning to traders who trade from remote.<\/p>\n

We meet traders from all over the world, so the question is: Is the time factor really that important and is it necessary information to consider in the markets?<\/strong><\/p>\n

After all, the market is primarily concerned with price.<\/p>\n

What about trying to change the view from a time factor to the perspective of price, as that is where traders focus most.<\/p>\n

Such a perspective will bring us closer to a Renko chart, where one candle is not related to specific time data, but it looks more into the price fluctuations.<\/p>\n

So, the candle looks a little different from what we are used to because all the candles are the same in size. We call them the bricks, which is a Japanese origin word \u201crenga\u201d.<\/p>\n

\"\"<\/a><\/p>\n

Advantage of Renko chart<\/h2>\n