Trenko is an indicator that makes use of “Renko” logic, and draws a line that represents a predetermined fluctuation in the price.
Just one parameter is taken into consideration in order to ensure that indicator is functioning correctly:
Box Size ( pips ) = The dimension of the box Renko is represented with pips
The functioning is very simple, regardless of the time-frame that you’ll be using, if for example we set up a 60 point framework on Trenko and the price goes up, Trenko would draw a line only if the price would reach a level of +60 points; if the price goes down Trenko would draw a line when the price reaches -60 points, if none of these extremes is reached Trenko would draw a flat line.
This indicator is very useful in order to intercept support and resistance’s levels, and to interpret changes in price.