I watched real time price action on Renko 1hr timeframe and I could see that the price was the same as Candle Charts. The difference is that in Renko it makes blocks of 25 pips each, only if it was above or below the previous 25 pip range, ignoring time.
What I don’t understand is that I see that high and lows are different. Can someone explain me in detail why does this happen?
Here is an example of GBP/USD 1hr timeframe showing the same high price on the same time period:
A true renko bar only prints if it reaches its set range and the wicks are never printed even though there are renko bars that print the wicks. For example if a new bullish 10 pip renko bar forms at 1.00000 the next bullish renko bar will only print if it reaches 1.00100, but if only reaches 1.00099 and comes back down and ends up printing a bearish bar at 0.99900 it will not show the high at 1.00099 because the bar never reached the 10 pip to print and that is why they have a cleaner look then regular Japanese candles.
