None of the traders I know use Renko charts. The blame is on the lack of literature in English on this subject. Along the years, the charts lost their shine probably because it’s in the human nature to keep on searching even after the treasure is found! Furthermore, the bits and pieces of information on Renko in circulation nowadays make eyebrows rise: the Renko’s sheer simplicity invites suspicion. Perhaps this is because we conditioned ourselves for too long into believing that if a theory is not complicated enough, we don’t stand a chance of winning. Millions of dollars have been spent by the financial institutions on the research and development of new and sophisticated trading systems but nothing in reviving the ancient fine art of the Renko! … Perhaps those financial institutions operate trading systems that are more profitable than the Renko, but as far as the small investor is concerned, there are two choices:
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