Renko charts just like candlestick charts were invented by Japanese a long time back. Just like candlesticks, renko charts were also introduced to the modern world of trading in 1990s. Since then both of them have become popular with pro traders. Both candlesticks and renko charts help a trade read the market sentiment at any particular point of time. Renko charts eliminate time altogether from the chart. We define a brick as the minimum price movement before a new bar appears on the chart. Renko charts are more suited to scalping as it helps in reducing the noise on the chart. You should watch this 1 hour video tutorial on how to trade with renko charts!
This is another video on how to trade with renko charts. This video has been made by the Netpicks team. Watch this video also. Renko charts can be used for trading forex, stocks, futures, commodities. So learning how to trade with them is going to help you become a better trader.
You should also watch this video in which Jeff shows how to use renko charts in scalping.