Renko, Range Bars, Point Original Charts - a New Brick or not a New Brick?
What would you expect if your Renko chart price level just touches the brick limit (a new full brick has been formed), but it does not exceed the brick limit and reverses?
1. The current brick finishes and a new brick starts.
2. No new brick starts, and the price is adsorbed by the recent brick.
Choosing the answer 1 or 2 has impact in two chart areas - the option 1 creates two more bricks in reversals, where the price just touched the level. In addition, within the unidirectional move it may produce different wicks length, though the bricks bodies would be identical.
The question has no sense for the classic range bars, but might also apply to range bars constructed without the transition gap.
And defefinitivelly this question applies to Point Original charts as well.
So I am looking forward to your polls.I think that it should exceed the limit before a new brick starts
I think that it should exceed the limit before a new brick starts
Yes, that seems more natural for me, too.
I can see one problem with Renko - you might like the real brick in reversals, if a single wick spanned the range where entire brick would fit in.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
What would you expect if your Renko chart price level just touches the brick limit (a new full brick has been formed), but it does not exceed the brick limit and reverses?
1. The current brick finishes and a new brick starts.
2. No new brick starts, and the price is adsorbed by the recent brick.
Choosing the answer 1 or 2 has impact in two chart areas - the option 1 creates two more bricks in reversals, where the price just touched the level. In addition, within the unidirectional move it may produce different wicks length, though the bricks bodies would be identical.
The question has no sense for the classic range bars, but might also apply to range bars constructed without the transition gap.
And defefinitivelly this question applies to Point Original charts as well.
So I am looking forward to your polls.