[RenkoCore] Public

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This indicator suite is a multi-part system designed only for Renko chart to enhance technical analysis by providing real-time market structure clarity through trend detection, dynamic level recognition and market balance. Consists of three different unique tools that aim to simplify decision-making with an simple visual layout.

Part 1. Balance Module
This examines the relationship between price delta and the market’s prevailing direction. By observing how price momentum evolves, the indicator identifies shifts in the market's structural integrity, providing crucial signals when a potential change in market behavior is likely.



📉 Divergence Detection System
A key feature is the multi-level divergence scanner, which tracks three independent pivot zones (short, medium, and long-range) to detect:

Regular Bullish Divergences: Oscillator higher lows vs. lower price lows
Regular Bearish Divergences: Oscillator lower highs vs. higher price highs
Each divergence level is labeled (1°, 2°, 3°) on the chart to reflect its sensitivity.

🛠 Customizable Inputs
Balance Length and EMA Length
Pivot Detection Levels (short to long range)
Enable/Disable EMA or Base view
Alert System for divergence detection

🧩 Use Cases
Assess price movement imbalance over time
Visually filter trending vs. weakening moves
Spot early reversal clues using multi-tier divergence logic
Combine with structure-based setups or existing strategies


Part2. Trend Module
One of a kind module that provides trend direction while filtering zones of market
consolidation characterized by a lack of directional momentum, applicable to the native chart settings.



🔧 Key Features:
Multi-Stage Trend Recognition
Utilizes a 3-pass price-action structure to generate trend direction based on price displacements and adaptive thresholds. Each round refines the signal for improved confirmation and smoothing.

Pre-Configured Templates
Short Term: Detects short-cycle trends suitable for scalping and high-frequency setups.
Long Term: Filters out noise to focus on macro trends for swing or position trading.
Custom: Allows full control over trend ratio settings for advanced users seeking optimized tuning.

Dynamic Candle Overlay
Candles are plotted directly on the chart using weighted moving average smoothing and contextual coloring to visualize momentum shifts in real-time.

Consolidation Filter Mode
An optional secondary system that isolates non-trending zones using critical price-action ratios. Ideal for filtering out ranging or low-momentum phases before entering trades.



Integrated Alert Logic
Optional filter alerts signal when price enters a consolidation zone — only applicable to the native chart settings — offering a built-in market phase detector.

📌 Use Cases:
Identify and confirm valid trends before making decision.
Filter out low-probability trades during range-bound markets.
Combine with other modules (momentum or divergence) for a multi-confirmation system.


Part 3. Level Module
This module helps identify potential reversal levels by analyzing internal oscillator behavior alongside classic RSI dynamics. It provides early detection signals during overbought or oversold conditions when divergence suggests weakening momentum.

When enabled, it plots dynamic price zones—areas where price may pause or reverse—based on historical reactions to similar divergence conditions. These zones adapt in real time and only appear when confirmed by the underlying conditions.



Key Features:
✅ Early Signal Option — Highlights when a divergence occurs under extreme RSI conditions.

📈 Adaptive Zone Visualization — Auto-detects and plots resistance/support bands as price reacts to momentum imbalance.

🚨 Zone Alerts — Notifies you when a new potential limit area is formed.

⚙️ Configurable RSI Length — Tune the sensitivity for your trading style.


🔶 CONCLUSION & ACCESS
This tool bundle is intended for use as part of a broader analysis framework. While Renko chart has its advantages and disadvantages over other type of charts (particularly candle-stick chart), my aim was to alleviate some of the disadvantages by providing some structure, which is not inherently present on Renko chart. It can assist with identifying trend direction, early reversal signals, and potential reaction zones based on price structure and oscillator behavior.

Please see Author's instruction to get access.

⚠️ Disclaimer
This tool is a technical visualization aid and does not issue buy/sell recommendations. It is intended for chart analysis only.

The information contained in this indicator bundle does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. This is for educational purposes only.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, back-test, forward-test, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

l’altro ieri

Note di rilascio

Improved alert function.

l’altro ieri

Note di rilascio

Improved alert functions.

l’altro ieri

Note di rilascio

Improved alert functions.

8 ore fa

Note di rilascio

Improved alert functions.