I started to look at renko bars.
My first impression was WOW.
there is defnitely value in it but also doing a cross check there are things I dont get:
Example 1: in jun09 the top and the bottom of the Renko candle do match the exact top and bottom at the time.
Example 2: just recently the bottom traded was 2040 but the renko candle shows 2066.
I now understand why it looks so good by removing extremes but how does it work really?
1 what is happening?
2 how does it work?
so i can make sense of it.
However, sometimes I have seen the gap higher than the block size. This must be an error probably.
https://www.tradingview.com/chart/Hm9p5BS8/ if you want to copy the code