what size you use for renko for scalping , day trading, swing ?
Renko it’s related to time so not sure how say scalping with Renko would work.
Block size should be determined on the volume or daily pip movement and volatility of the pair in question
@YassineAndich, @AlexBainbridge, Renko is not a time framed Indicator. Each brick is a set amount of pips, so for example if you had XTIUSD (Slow moving) on a Renko Chart with say 10 pip blocks… you might see only 1 or 2 blocks every 24 hour period.
One strategy is to use the pair you are tradings ATR Value ie: say each candle is 4.6 on the ATR that is the setting you can use on the Renko Chart…
There is a mountain of information on Renko trading on YouTube, so start there and find a way to use the Renko strategy that you feel most comfortable with and DEMO it, DEVELOP it… and only then think about using it on a Live Account.
Hope this is of help… Cheers
Yes It is not a time period , but if I choose to work with 5-10 pips it will be a short term trading not like 20,50or 100
That still wouldnt be determined as scalping to the truest sense. if you want to scap try 1-5 pip blocks
Thanks for the great comments…I had missed a vital word out of my sentence: Renko it’s “not” related to time oops
Thanks i’ll Check out more details
Would be interesting trying to look at a brick with a wick looking for reversals if brick size is 1-5pips
Think I’ll stick to bigger block sizes