Renko charts have also been invented by Japanese traders just like candlestick charts.
However renko charts are different than candlestick charts.
Renko charts eliminate time altogether and instead focus on a minimum price movement defined by the trader.
For example if you define the minimum movement to be 10 pips.
When price moves 10 pips, a brick will be added.
As long as price doesn't move 10 pips, there will be no brick.
Read this blog post in which I have posted videos on how to trade with Renko Charts.
Renko charts are popular with scalpers.
They use it to reduce noise on the charts.
