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Mean Renko

Mean Renko

Charts / Chart Types / Special Charts

Renko bricks built from an averaged price instead of the raw close, so single-bar spikes do not reverse the chart.

What the chart shows

A chart draws a brick of height each time price moves one box, and ignores time. It removes moves, but a single sharp candle that closes two boxes against the trend still a reversal brick, and the next candle often prints another reversal back. These whipsaws are the main weakness of .

Mean Renko uses the same brick rules, but feeds them an averaged price such as HLC/3 or a short of the close. A spike moves the average less than it moves the close, so fewer reach the reversal threshold. Real trend changes still do, a little later.

Menu
Chart type → Specialized → Mean Renko
Engine type
mean-renko
Data
Candles (OHLC)
Brick engine
The same -compatible engine as the chart type
Good for
Trend following with fewer whipsaws, clean support and resistance levels

Anatomy of the chart

Anatomy of a Mean Renko chartup brick = 1 boxreversal brick:needs 2 boxeswick: averaged pricedipped, no reversalaveraged pricebox gridBricks are equal height and sit on a fixed price grid; time is not to scale.
Bricks on a fixed grid, driven by the averaged price (dashed). The dip in the middle produced a wick, not a reversal.
PartWhat it isHow to read it
Up brickThe averaged price rose one box above the last brick.A series of up bricks is an up-trend in the averaged price.
Down brickThe averaged price fell one box below the last brick.A series of down bricks is a down-trend.
Reversal brickThe first brick in the new direction. It needs two boxes of movement but is drawn as one brick, starting at the open of the last brick.The trend in the averaged price has turned.
How far the averaged price moved against a brick without reversing (between one and two boxes).Long wicks show pressure against the trend that was not enough to reverse it.
Box gridBrick edges always sit on multiples of the .Brick edges make support and resistance levels.

How the bricks are built, step by step

  1. 1
    Average each candle
    Each candle is turned into one averaged , chosen with Averaged price: HLC/3, HL/2, OHLC/4, the body mid, or an / SMA of the close.
  2. 2
    Choose the box size
    uses the of the averaged series at the last bar. Traditional uses the size you enter. uses a share of the last . The size is then rounded to the so edges land on tradable prices.
  3. 3
    Continue the trend
    When the averaged price is one box beyond the last brick's close, a brick is in the same direction. Several boxes in one candle add several bricks.
  4. 4
    Reverse the trend
    When the averaged price moves two boxes against the trend (back to the last brick's open and one box beyond), a reversal brick is drawn from that open.
  5. 5
    Record wicks
    A move against the trend of more than one box that does not reach the reversal level is kept as a on the next brick: low wicks on up bricks, high wicks on down bricks.
  6. 6
    Update live
    The averaged of the forming candle changes with every , so the last brick can still appear or disappear until the candle closes.
ℹ
Note:The averaged series has no separate high and low, so its only measures how much the average moves from bar to bar. That is smaller than the ATR of the raw candles. In ATR the automatic box on Mean Renko is therefore smaller than on a standard chart of the same . Use Traditional mode to the two at the same box.

Why it whipsaws less

Standard Renko vs Mean Renko (same data, same box)Close → Renko13 reversalsEMA 5 of close → Renko1 reversalsSingle-bar shakeouts reverse standard Renko; the averaged price absorbs them.
The same candles and the same box. The reversal count is calculated from the data.

Standard reacts to the close of every candle. A one-candle shakeout that closes two boxes lower a reversal brick, and the recovery on the next candle prints another. The averaged price moves a fraction of that distance, so the same shakeout leaves only a .

Choosing the averaged price

Averaged price sourcesCloseHLC/3HL/2HA body midThe bar-3 sell-off reaches 96 on the close but only about 98 on HLC/3.
Four sources on the same candles. Smoother sources ignore more of each spike.
SourceFormulaCharacter
HLC/3 (default)(high + low + close) / 3Typical price. Balanced: reduces close but follows the candle.
HL/2(high + low) / 2Ignores the close. Good for markets where closes are noisy auction .
OHLC/4(open + high + low + close) / 4Includes the open, which lags more.
body mid( + HA close) / 2Carries the previous bar through the . , with more lag.
of close(close, MA length)Smoothness set by the length. Length 1 equals standard .
SMA of closeSMA(close, MA length)Like the , but when old bars leave the .

Reading the chart, step by step

  1. 1
    Read the brick colour as the trend
    Consecutive bricks of one colour are a trend in the averaged price.
  2. 2
    Treat reversals as stronger signals
    Because are filtered, a reversal brick on Mean Renko is less likely to be noise than on standard .
  3. 3
    Watch the wicks
    A long against the trend shows real pressure. Several in a row often come before a reversal.
  4. 4
    Use brick edges as levels
    Former reversal line up on the grid and often act as support or resistance.
  5. 5
    Check real prices before acting
    Brick prices are averaged prices. Your stop must use the real high or low.

Setting it up, step by step

  1. 1
    Select the chart type
    Chart type menu → Specialized → Mean Renko.
  2. 2
    Open the settings
    Click the gear to the left of the name.
  3. 3
    Pick the source
    Keep HLC/3, or use with length 3–5 for more filtering.
  4. 4
    Set the box
    Start with 14. Switch to Traditional for a box that does not change as loads; for example 10 on NIFTY intraday.
  5. 5
    Turn on wicks
    Wicks show the moves that standard would have drawn as reversals.

Common setups

Intraday index

1-minute candles, HLC/3, traditional box of about 0.05% of price, wicks on.

Swing stocks

Daily candles, 3, box of 1%.

Noisy crypto

5-minute candles, body mid, 14 box.

Limitations

!
Caution:Brick prices are averaged values that may never have traded. Backtests that fill at brick prices overstate ; fill at real prices of the candle that formed the brick.
  • Filtering adds lag: reversals appear later than on standard .
  • The last brick can change until the forming candle closes, because its averaged moves with every .
  • Like all charts, the time is not linear. A flat of hours may take no space at all.

Native Quatick implementation and live demos

The charts below are the real Quatick engine (@quatick/quatick-charts), the same code the trading terminal runs, fed by a deterministic simulated market. Switch between demos, press Run market to stream ticks, to pan and use the wheel to zoom. Show code exactly the calls each makes.

Live demo
The default averaged price. Compare with the same market on standard Renko: fewer reversal bricks.
Loading the Quatick chart engine…
mean-renko · 0 bars · last — · drag to pan, wheel to zoom

How the engine draws Mean Renko

Mean Renko: native Quatick pipelineDATA INENGINE COMPUTESRENDERERDRAWN ON TOPOHLCV barsLive tick →chart.update()1. Averaged price (HLC/3,EMA …)2. Box size (ATR / fixed /%)3. 1 box to continue, 2boxes to reverse4. Slot series (incrementalcache)Canvas 2DForming elementLast-price lineCrosshairLive update cost: Amortised O(1): only the tail of the slot series is rebuilt
Inputs, computation, renderer and overlay layers of the Mean Renko chart type in the native engine.
StageWhat happens
in bars
→ chart.update()
Averaged price (HLC/3, …)
( / / %)
1 box to continue, 2 boxes to reverse
Step 4Slot series (incremental cache)
Canvas 2D
LayersForming element · Last- ·
updatesAmortised O(1): only the tail of the slot series is rebuilt

How data reaches the screen

How data reaches the screenYour app / broker feedChart APIEngine stores & cachesScreen (rAF)new Chart({ container, chartType })setData(series, bars)bars → data managerindex + boundssetChartTypeOptions(type, {...})sanitise against schemaclamp rangesupdate(series, formingBar) — every tickrecompute forming barO(1)request redrawone framerender price action + overlays
The calls your code makes, what the engine stores, and when it draws. Redraws are coalesced into one animation frame.

Minimal implementation

The first above, as standalone code:

typescript
import { Chart } from '@quatick/quatick-charts';

const chart = new Chart({
  container: document.getElementById('chart')!,
  chartType: 'mean-renko',
  theme: 'dark',
  renderer: 'canvas',
  showVolume: true,
});
const series = chart.addSeries({ type: 'candlestick' });
chart.setData(series.id, bars); // [{ time, open, high, low, close, volume }] — time in seconds

chart.setChartTypeOptions('mean-renko', {
  priceSource: "hlc3",
  boxSizeMode: "traditional",
  brickSize: 20
});

// Live: every tick updates the forming bar (a new time opens a new bar)
feed.onTick(bar => chart.update(series.id, bar));

Quatick settings reference

Loading the settings list…

See also

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