Ambiguity of Renko Charts
A change in position of a grid may easily change the shape of the bricks chart. The most obvious result is that number of bricks in a simple trend can increase or decrease by one.
But even more annoying case may happen. If price is oscillating within a range of 2.5 brick, the same price movement can result in very different Renko charts, depending on the initial grid position.
the range creates a series of several up and down bricks
the entire range is covered by a single brick (a single brick can absorb up to 3-brick range)
The question is - whether to align price to the opening of the first brick and let the grid make a random pattern, or fix the grid but forge the opening price of the first brick?
You may discuss the topic and help me to adopt your preference.
Posted on 2013 Oct 22