Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Renko Charts for Hang Seng

25 sec read


 

Renko charts are one of the Best trend following indicator based on Average true range(ATR) Here the White Bricks indicate up trend and Red Bricks denote the downtrend. And as of

now there is a formation of Red Brick in Hang Seng which indicates that Still the daily trend
remains in down depsite recent 550+ pts surge on last friday.

Inference from Renko Charts for various Markets
Nifty : Daily and Weekly Still trend Up

Dow : Daily and Weekly Still trend Up
Nikkei : Daily and Weekly Still trend Up
Hang Seng : Daily Down and Weekly trend Up
Shangai : Daily and Weekly trend Down.

European Markets : Daily and Weekly Still trend Up

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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2 Replies to “Renko Charts for Hang Seng”

  1. Hi,

    Can you provide the AFL for producing the Renko chart.

    regards,

    Sunil Sehgal

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