The Renko system is named after the Japanese word "Renga," meaning brick, which disregards time in favor of price movement. Renko charts eliminate insignificant price swings, making them a popular choice among traders. Because there are fewer minor price fluctuations, price patterns may be easier to discern, and the chart appearance is more uniform than with candlestick charts.
Despite the fact that Renko charts ignore time, they may be more appropriate for swing or position traders than for intraday traders. In this case, the brick's size is the only factor that needs to be taken into account.