Renko Chart, Renko brick size is the most important control variable in your trading. You have a choice of brick size. However, it is
typically recommended to use multiple of 10 or 5 as the choice. For example, you can use following brick size depending on the size of price
range in your chart.
brick size: 20 pips, 25 pips, 50 pips, 100 pips, 200 pips, 2000 pips, 20000 pips, etc.
you have a math background and if you do understand standard deviation, it is good to guess these numbers around 1 standard deviation. This is
just some idea for your trading.
some futures, commodities, Stock price, you need to have 1 or 2 more zeros in your brick size in comparison to Forex market. Just do some
experiment to find the suitable and sensible brick size for your trading.
Renko tools are available in both Smart Renko and Price Breakout Pattern Scanner. Hence this article applies to Smart Renko and Price
Breakout Pattern Scanner.
MetaTrader 4 users, to calculate bricks, you have to download historical data before using our Smart Renko chart.
Below is link to Smart Renko
Below is link to Price Breakout Pattern Scanner
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