Renko Charts Live

"Renko" charts are now available at Stockcharts.
"Renga" is Japanese for "bricks". They seem to act a lot like P&F charts. (Except they are linkable and you can add indicators.)
Perhaps by watching them live, we can better understand how they work and how they may help traders.
As with P&F charts, they do not show gaps and the horiztontal time line varies.
Investopedia on Renko Charts: LINK

1 Minute:
http://stockcharts.com/c-sc/sc?s=$SPX&p=1&b=5&g=0&i=p35969990435&a=138242864&r=5846.png

5 Minute:
http://stockcharts.com/c-sc/sc?s=$SPX&p=5&b=5&g=0&i=p74341326782&a=138242805&r=4339.png

60 Minute:
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&b=5&g=0&i=p37721680279&a=138242790&r=9989.png

Daily:
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&b=5&g=0&i=p31589067859&a=138242705&r=3667.png

Weekly:
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&st=1998-01-01&i=p96417784584&a=138242530&r=1958.png

Monthly:
http://stockcharts.com/c-sc/sc?s=$SPX&p=M&st=1998-01-01&i=p74451188775&a=138242430&r=2190.png

Here is an interesting article with VIDEO on Renko charts with some trading systems.

LINK

Edited by Rogerdodger, 13 May 2008 - 09:30 AM.

Very helpful, thanks Roger.

Roger, my recent trades are aligned with the weekly. Seriously great chart there, picture is worth a million bucks. What is the no name indicator in the second pane? Thanks!

Roger, my recent trades are aligned with the weekly.
Seriously great chart there, picture is worth a million bucks.
What is the no name indicator in the second pane?
Thanks!

Its the MACD 3,10,16.
I'm not sure why.