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Renko Chart

The Renko Chart is a Japanese price transformed candlestick pattern that uses “bricks” to show a defined increment of change over a non-linear time series. Transitions can use either Close or High/Low price values. An ATR variant is also provided where brick size is determined by current Average True Range values. [Discuss] 💬

chart for Renko Chart

// C# usage syntax
IEnumerable<RenkoResult> results =
  quotes.GetRenko(brickSize, endType);

Parameters

brickSize decimal - Brick size. Must be greater than 0.

endType EndType - See options below. Default is EndType.Close

Historical quotes requirements

You must have at least two periods of quotes to cover the warmup periods; however, more is typically provided since this is a chartable candlestick pattern.

quotes is a collection of generic TQuote historical price quotes. It should have a consistent frequency (day, hour, minute, etc). See the Guide for more information.

EndType options

EndType.Close - Brick change threshold measured from Close price (default)

EndType.HighLow - Brick change threshold measured from High and Low price

Chaining

Results are based in IQuote and can be further used in any indicator.

// example
var results = quotes
    .GetRenko(..)
    .GetRsi(..);

This indicator must be generated from quotes and cannot be generated from results of another chain-enabled indicator or method.

Response

IEnumerable<RenkoResult>

This method returns a time series of all available indicator values for the quotes provided.
It does not return a single incremental indicator value.
RenkoResult is based on IQuote, so it can be used as a direct replacement for quotes.

🚩 Warning: Unlike most indicators in this library, this indicator DOES NOT return the same number of elements as there are in the historical quotes. Renko bricks are added to the results once the brickSize change is achieved. For example, if it takes 3 days for a $2.50 price change to occur an entry is made on the third day while the first two are skipped. If a period change occurs at multiples of brickSize, multiple bricks are drawn with the same Date. See online documentation for more information.

RenkoResult

Each result record represents one Renko brick.

Date DateTime - Formation date of brick(s)

Open decimal - Brick open price

High decimal - Highest high during elapsed quotes periods

Low decimal - Lowest low during elapsed quotes periods

Close decimal - Brick close price

Volume decimal - Sum of Volume over elapsed quotes periods

IsUp bool - Direction of brick (true=up,false=down)

🚩 Warning: When multiple bricks are drawn from a single quote period, the extra information about High and Low wicks and Volume is potentially confusing to interpret. High and Low wicks will be the same across the multiple bricks; and Volume is portioning evenly across the number of bricks. For example, if within one quote period 3 bricks are drawn, the Volume for each brick will be (sum of quotes Volume since last brick) / 3.

Utilities

See Utilities and helpers for more information.

ATR Variant

// C# usage syntax
IEnumerable<RenkoResult> results =
  quotes.GetRenkoAtr(atrPeriods, endType);

Parameters for ATR

atrPeriod int - Number of lookback periods (A) for ATR evaluation. Must be greater than 0.

endType EndType - See options below. Default is EndType.Close

Historical quotes requirements for ATR

You must have at least A+100 periods of quotes.

quotes is a collection of generic TQuote historical price quotes. It should have a consistent frequency (day, hour, minute, etc). See the Guide for more information.

Response for ATR

IEnumerable<RenkoResult>

This method returns a time series of all available indicator values for the quotes provided.
It does not return a single incremental indicator value.

🚩 Warning: Unlike most indicators in this library, this indicator DOES NOT return the same number of elements as there are in the historical quotes. Renko bricks are added to the results once the brickSize change is achieved. For example, if it takes 3 days for a $2.50 price change to occur an entry is made on the third day while the first two are skipped. If a period change occurs at multiples of brickSize, multiple bricks are drawn with the same Date. See online documentation for more information.

👉 Repaint warning: When using the GetRenkoAtr() variant, the last Average True Range (ATR) value is used to set brickSize. Since the ATR changes over time, historical bricks will be repainted as new periods are added or updated in quotes.