Renko Chart Construction with Adjustable Brick Size and Wicks

Summary

This document describes an indicator that builds Renko bars in a chart subwindow. Renko charts represent price movement using bricks of a chosen size rather than bars tied to fixed time intervals, which can make directional moves easier to inspect. The indicator exposes settings for brick size in pips, whether to display bar shadows, and whether to calculate from the instrument’s full available history.

The text explains the available settings but gives no construction formula, trading rules, examples, or performance evidence. It does not specify how the indicator handles gaps, reversals, or partial bricks, so users should not infer those details from the description alone. It presents a charting utility rather than a tested trading strategy; any use for signals or backtests would require independent validation of the implementation and its assumptions.

Key ideas

• The indicator constructs Renko bars in a chart subwindow.
• Brick size is configurable in pips.
• Bar shadows can be shown or hidden.
• The calculation can use the instrument’s full available history.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.