Renko Indicators

Forex Renko indicators are technical analysis tools that are used to display the price movement of a currency pair in the form of Renko charts. Renko charts are based on the Japanese Renko bricks and they are different from traditional candlestick or bar charts.
Renko charts are constructed by plotting a brick or block for every set price movement in a currency pair. The size of each brick or block is predetermined by the trader and can be set to a fixed price or a percentage of the average true range of the currency pair.