Renko & Point & Figure — Timeless Charts

Renko bricks

Renko ignores time entirely: a new brick prints only when price moves a fixed size (e.g., $5) up or down from the last brick. Chop becomes a wall of alternating tiny bricks; trends become clean staircases. Great for seeing "is price actually progressing or just churning?"

Point & Figure (P&F)

The oldest chart type (1880s): X columns for rising prices, O columns for declines, only reversals of a set box size start a new column. P&F strips both time AND minor moves — pure supply/demand structure, with classical count-based targets.

The cost

You lose time (when did it happen?) and intraperiod detail (how violent was the move?). Renko/P&F are for STRUCTURE and trend health, not execution. Same rule as HA: decide bias on timeless charts, execute on raw candles. Also note: fixed brick sizes need retuning per instrument — a $5 brick is huge for a $20 stock and invisible for BTC.

Sources

• Renko ChartInvestopedia
• Point & Figure ChartInvestopedia