when i see RENKO or its cousin RANGE bars without wicks, it reminds of my days where i thought this is the HOLY GRAIL.
if the brick size is small than there seems to be so much of them without breaking out or break out failures.
if i keep the brick size big, then i dont have the guts to have that big stop loss.
if you have 50 point brick size and if there is a breakout and you have the long order at the 51st point, it moves another 49 points up and then retraces back to the -50 points to form a bearish brick.
it triggers your STOP loss and again moves up like its a perfect world. RENKO paints a beautiful uptrend picture, making you pull your hair and curse yourself for your impatience.
One really needs synthetic candles that paint all the places where the price went, to really see what exactly happened. Even with normal candlestics, we have certain ticks not printed (yeah, the ones that picked up your SL below the support candle). So imagining a perfect chart so that one can do technical analysis nicely and expect the market to behave like they want, is really a myth.
i would rather prefer the regular candle, may be a tick chart, and if i use synthetic candles (RANGE bar or RENKO), i want them to capture everything without redraw.