Business & Investment

How to Resize Renko Brick with Smart Renko-Trading System-July 4, 2021

In the Renko chart, the size of the Renko brick is the most important control variable in trading. You can choose the size of the brick. However, it is generally advisable to use a multiple of 10 or 5 as an option. For example, you can use the following brick sizes, depending on the size of the chart price range:

Recommended brick sizes: 20 pips, 25 pips, 50 pips, 100 pips, 200 pips, 2000 pips, 20000 pips, etc.

If you have a math background and understand the standard deviation, it is advisable to estimate these numbers around one standard deviation. Here are just a few ideas for your deal.

For some futures, commodities and stock prices, one or two zeros are required for the brick size compared to the forex market. Do some experiments to find a wise brick size suitable for trading.

This Renko tool is available for both smart Renko and price breakout pattern scanners. Therefore, this article applies to SmartRenko and PriceBreakout Pattern Scanner.

For MetaTrader 4 users, to calculate bricks, you need to download historical data before using the smart Renko chart.

* The following is a link to smart Renko

https://www.mql5.com/en/market/product/9911

https://www.mql5.com/en/market/product/9944

https://algotrading-investment.com/portfolio-item/smart-renko/

* Below is a link to the Price Breakout Pattern Scanner

https://www.mql5.com/en/market/product/4859

https://www.mql5.com/en/market/product/4858

https://algotrading-investment.com/portfolio-item/price-breakout-pattern-scanner/

How to Resize Renko Brick with Smart Renko-Trading System-July 4, 2021

https://www.mql5.com/en/blogs/post/744632?utm_campaign=RSS&utm_medium=display&utm_source=MQL5+EN+Blog How to Resize Renko Brick with Smart Renko-Trading System-July 4, 2021

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