There are many advantages to using a Renko chart one of which is it can help to deliver good trading opportunities even in difficult, tight range markets. One example is from the gbp/aud on a quiet day yet when set at a fixed value of 2 pips per brick managed to produce over 80 pips.
The version of the Renko shown here is for MT5 and allows traders to select either a fixed value (as we have on the chart) or use the ATR function that is built into the indicator.
And this chart also includes the Quantum trends and trend monitor which can help with entries and exits as well as holding a trend.