James Hill

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How To Setup Renko Charts on MT4

Originally developed in Japan, Renko charts have gained popularity all over the world and can now be set up on the MT4 (Metatrader 4) platform. 

Named after the Japanese word for bricks, "renga", these charts can be considered pure price action charts since 'price' is the only dimension that's displayed on it.

The main thing you need to know about Renko charts is that they are only updated when the market price moves by a certain number of pips. Thus, when the market price is moving in a tight range, a Renko chart will not print new bricks.

Depending on your trading method, this can be a good or bad thing.


What does Hawkish mean? Here’s the short answer.

The meaning of the term hawkish is especially important to Forex traders, as it is critical to understanding the trends and developments in currency markets.

The moniker is derived from the predatory and unsympathetic nature of the hawk bird and is often used as a metaphor to describe the sentiment of a Central Bank.

Specifically, “hawkish” describes a Central Bank’s preferred stance towards monetary policy.