Renko brick chart
A Renko chart is a type of chart developed by the Japanese that, like most charts, is constructed using price movement rather than price and standard time intervals. It is believed that the chart is named after the Japanese word for brick, renga, as it looks like a series of bricks. New bricks are made when the price carries a certain amount, and each block is positioned to the previous brick at a 45 degree angle (top or bottom). The upper bricks are usually white or green and the lower bricks are usually black or red.
