I like this style (I don't know what it is officially called) because it brings out the potential of Wyckoff method and Renko, and looks beautiful.
I can't find this style Indicator anywhere, so I made something like it, then I named "Numbers Renko" (数字 練行足 in Japanese).
Caution : This indicator only works exactly in Renko Chart.
////////// Numbers Renko General Settings //////////
Divisor : To make good looking Number.
ex) You set 100. When is 0.056, 0.05 x 100 = 5.6. 6 is plotted in the box (Decimal are round off).
Show Only Large Renko : show only Renko which is larger than Average Renko (it is calculated by user selected moving average, option below).
Show Renko Time : "Only Large Renko Time" show only Renko Time which is larger than Average Renko Time (it is calculated by user selected moving average, option below).
period for calculation : This is used to calculate Average Renko Time and Average Renko (These are used to decide Numbers colors and Candles colors). Default is , You can choice .
////////// Numbers Renko Coloring //////////
The Numbers in the box are color coded by compared the current Renko with the Average Renko .
If the current Renko is 2 times larger than the ARV , Color2 will be used. If the current Renko is 1.5 times larger than the ARV , Color1.5 will be used. Color1 If the current Renko is larger than the ARV . Color0.5 is larger than half Athe RV and Color0 is less than or equal to half the ARV . Color1, Color1.5 and Color2 are Large Value, so only these colored Numbers are showed when use "Show Only ~ " option.
Default is Renko based Color coding, You can choice Renko Time based Color coding. Therefore you can use two type coloring at the same time. ex) The Numbers Colors are Renko based. Candle body, border and wick Colors are Renko Time based.
////////// Weis Wave //////////
Show Effort vs Result : Weis Wave divided by Wave Length.
ex) If 100 Up WWV is accumulated between 30 Up Renko Box, 100 / 30 = 3.33... will be 3.3 (Second decimal will be rounded off).
No Result Ratio : If current "Effort vs Result" is "No Result Ratio" times larger than Average Effort vs Result, Square Mark will be show. AEvsR is calculated by 5SMA.
ex) You set 1.5. If Current EvsR is 20 and AEvsR is 10, 20 > 10 x 1.5 then Square Mark will be show.
If the left and right arrows are in the same direction, the right arrow is omitted.
Show Comparison Marks : Show left side arrow by compare current value to previous previous value and show right side small arrow by compare current value to previous value.
ex) Current Up WWV is 17 and Previous Up WWV (previous previous value) is 12, left side arrow is Up. Previous Dn WWV is 20, right side small arrow is Dn .
Large Ratio : If current WWV is "Large Ratio" times larger than Average WWV, Large WWV color is used.
Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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