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===Understanding Renko Chart Type===
[[File:RChart1.png|right|Renko]] A renko chart is constructed by placing a brick in the next column once the price surpasses the top or bottom of the previous brick by a predefined amount. Up boxes are used when the direction of the trend is up, while down boxes are used when the trend is down.
===Selecting Renko Chart Type===
# Select '''Renko''' from the '''Chart Type''' list.
# Enter the '''Box Size''' in the corresponding boxes.
# Select whether you wnat want the box size based on '''Fixed Price''', '''Percent''' or '''PercentsPoints''' from last box open/close.<br><div style="background-color: #E5F6FF;">'''Example''': If the previous box is green and current price is moving upwards, then the fixed price/percent /points value is calculated based on previous box close (from the right top corner of the box).<br>If the previous box is red and current price is moving upwards, then the fixed price/percent /points value is calculated based on previous box open (from the right top corner of the box).<br>If the previous box is green and current price is moving downwards, then the fixed price/percent /points value is calculated based on previous box open (from the right bottom corner of the box).<br>If the previous box is red and current price is moving upwardsdownwards, then the fixed price/percent /points value is calculated based on previous box close (from the right bottom corner of the box).</div>
# Select '''Resolution''' for your chart to be based on. It allows you to choose which type of data (for more details see [[Tick, Minute and Daily Data]]) and what detailed resolution will be used for building the boxes.<br><div style="background-color: #E3FBE5;">'''Note''':<br>'''MultiCharts 8.0''' implementation: in real-time no matter what resolution is specified, each next box of the specified size will be plotted once privious box is finished.<br>'''MultiCharts 8.1 and any further version''' implementation: depending on the selected resolution the current box may be huge in real-time and not match your box size, but when the selected in resolution bar (1 day for instance) is closed, you'll see a lot of boxes of the specified box size instead of that huge one.</div>
# Uncheck '''Break on Session''' if you don't want to see the session breaks (not available for daily-based resolutions).
# Open the '''Format Instrument''' window by one of the following methods:
#* Click the Format Instrument icon on the Chart Analysis toolbar; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or:
#* Position the mouse pointer over the symbol's data series; double-click once the '''Pointer''' http[[File://www.multicharts.com/img/wiki/cursors/Pointer.gif png]] changes into a '''Hand''' http[[File://www.multicharts.com/img/wiki/cursors/Hand.gifpng]]; or:#* Position the mouse pointer over the symbol's data series; once the '''Pointer''' http[[File://www.multicharts.com/img/wiki/cursors/Pointer.gif png]] changes into a '''Hand''' http[[File://www.multicharts.com/img/wiki/cursors/Hand.gifpng]], right-click and then click '''Format''' 'Symbol Name'; or:
#* Right-click on an empty area of the chart and then click '''Format Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or:
#* Select '''Format''' in the main menu and click '''Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button.
| Buy next bar at market
| Order is placed on the first tick of the new bar, i.e. on the Open of the next bar.
| Order is placed at the price of the first received tick, this tick may not be a part of the box, in this case the order is displayed not on OHLC of the box but on the price level of the first received tick. <br> http://www.multicharts.com/img/wiki/charts/Renko1.PNG
|-
| Buy this bar at close
| Order is placed on the last tick of the bar, i.e. on the Close of the current bar.
| Order is placed on the Close price of the current box. When the box is closed the order is placed at the Close of the box. Last tick of the box may be not included in the box itself, in this case the order is displayed not on in this case price level of the tick but on in this case Close of the box. <br> http://www.multicharts.com/img/wiki/charts/Renko2.PNG
|-
| Price orders
