OPEN-SOURCE SCRIPT
Aggiornato 📦 Enhanced Visual Renko Signal Overlay 📈
📦 Visual Renko Signal Overlay 📈 Auto Box (1%)
Overview
This innovative indicator simulates Renko-style price action directly on your regular candlestick charts, providing clear buy/sell signals based on significant price movements. Unlike traditional Renko charts, this overlay works seamlessly with any timeframe while maintaining the power of Renko logic.
Key Features
🎯 Automatic Box Sizing
Dynamically calculates box size as 1% of current price
Automatically adjusts to different price ranges and volatility
No manual configuration needed - works on stocks, crypto, forex
📊 Smart Trend Filtering
Uses SMA(40) and EMA(21) for trend confirmation
Only generates signals aligned with the prevailing trend
Reduces false signals in choppy markets
âš¡ Clear Entry Signals
BUY: Green label when Renko turns bullish in an uptrend
SELL: Red label when Renko turns bearish in a downtrend
Visual price level indicators for entry, stop loss, and targets
💡 Real-Time Trade Information
Floating info box showing current trade setup
Displays entry price, stop loss (1 box), and target (2 boxes)
Live updates as new signals develop
How It Works
Signal Logic
Renko Simulation: Tracks significant price moves (1% boxes)
Trend Filter: Confirms signals only when price is above/below both moving averages
Entry Trigger: Generates signal when Renko direction changes with trend alignment
Risk Management
Stop Loss: 1 box size (1% of entry price)
Take Profit: 2 box sizes (2% of entry price)
Risk:Reward Ratio: Built-in 1:2 ratio for consistent profitability
Best Practices
Timeframes
Scalping: 1m - 15m charts
Swing Trading: 1H - 4H charts
Position Trading: Daily charts
Market Conditions
Works best in trending markets
Avoid during major news events or low liquidity periods
Consider overall market sentiment
Customization Tips
Adjust box size by modifying the 0.01 value (e.g., 0.005 for 0.5%, 0.02 for 2%)
Experiment with different MA periods for various market conditions
Combine with volume indicators for additional confirmation
What Makes This Different
Unlike standard Renko charts that require separate chart types, this indicator:
Overlays directly on candlestick charts
Maintains time-based analysis capabilities
Provides instant visual feedback
Includes built-in risk management levels
Works across all asset classes and timeframes
Disclaimer
This indicator is for educational purposes only. Always conduct thorough backtesting and risk management before live trading. Past performance does not guarantee future results.
Perfect for traders who want the clarity of Renko analysis with the flexibility of traditional charting.
Overview
This innovative indicator simulates Renko-style price action directly on your regular candlestick charts, providing clear buy/sell signals based on significant price movements. Unlike traditional Renko charts, this overlay works seamlessly with any timeframe while maintaining the power of Renko logic.
Key Features
🎯 Automatic Box Sizing
Dynamically calculates box size as 1% of current price
Automatically adjusts to different price ranges and volatility
No manual configuration needed - works on stocks, crypto, forex
📊 Smart Trend Filtering
Uses SMA(40) and EMA(21) for trend confirmation
Only generates signals aligned with the prevailing trend
Reduces false signals in choppy markets
âš¡ Clear Entry Signals
BUY: Green label when Renko turns bullish in an uptrend
SELL: Red label when Renko turns bearish in a downtrend
Visual price level indicators for entry, stop loss, and targets
💡 Real-Time Trade Information
Floating info box showing current trade setup
Displays entry price, stop loss (1 box), and target (2 boxes)
Live updates as new signals develop
How It Works
Signal Logic
Renko Simulation: Tracks significant price moves (1% boxes)
Trend Filter: Confirms signals only when price is above/below both moving averages
Entry Trigger: Generates signal when Renko direction changes with trend alignment
Risk Management
Stop Loss: 1 box size (1% of entry price)
Take Profit: 2 box sizes (2% of entry price)
Risk:Reward Ratio: Built-in 1:2 ratio for consistent profitability
Best Practices
Timeframes
Scalping: 1m - 15m charts
Swing Trading: 1H - 4H charts
Position Trading: Daily charts
Market Conditions
Works best in trending markets
Avoid during major news events or low liquidity periods
Consider overall market sentiment
Customization Tips
Adjust box size by modifying the 0.01 value (e.g., 0.005 for 0.5%, 0.02 for 2%)
Experiment with different MA periods for various market conditions
Combine with volume indicators for additional confirmation
What Makes This Different
Unlike standard Renko charts that require separate chart types, this indicator:
Overlays directly on candlestick charts
Maintains time-based analysis capabilities
Provides instant visual feedback
Includes built-in risk management levels
Works across all asset classes and timeframes
Disclaimer
This indicator is for educational purposes only. Always conduct thorough backtesting and risk management before live trading. Past performance does not guarantee future results.
Perfect for traders who want the clarity of Renko analysis with the flexibility of traditional charting.
Note di rilascio
📦 Visual Renko Signal Overlay 📈 Auto Box (1%)Overview
This innovative indicator simulates Renko-style price action directly on your regular candlestick charts, providing clear buy/sell signals based on significant price movements. Unlike traditional Renko charts, this overlay works seamlessly with any timeframe while maintaining the power of Renko logic.
Key Features
🎯 Automatic Box Sizing
Dynamically calculates box size as 1% of current price
Automatically adjusts to different price ranges and volatility
No manual configuration needed - works on stocks, crypto, forex
📊 Smart Trend Filtering
Uses SMA(40) and EMA(21) for trend confirmation
Only generates signals aligned with the prevailing trend
Reduces false signals in choppy markets
âš¡ Clear Entry Signals
BUY: Green label when Renko turns bullish in an uptrend
SELL: Red label when Renko turns bearish in a downtrend
Visual price level indicators for entry, stop loss, and targets
💡 Real-Time Trade Information
Floating info box showing current trade setup
Displays entry price, stop loss (1 box), and target (2 boxes)
Live updates as new signals develop
How It Works
Signal Logic
Renko Simulation: Tracks significant price moves (1% boxes)
Trend Filter: Confirms signals only when price is above/below both moving averages
Entry Trigger: Generates signal when Renko direction changes with trend alignment
Risk Management
Stop Loss: 1 box size (1% of entry price)
Take Profit: 2 box sizes (2% of entry price)
Risk:Reward Ratio: Built-in 1:2 ratio for consistent profitability
Best Practices
Timeframes
Scalping: 1m - 15m charts
Swing Trading: 1H - 4H charts
Position Trading: Daily charts
Market Conditions
Works best in trending markets
Avoid during major news events or low liquidity periods
Consider overall market sentiment
Customization Tips
Adjust box size by modifying the 0.01 value (e.g., 0.005 for 0.5%, 0.02 for 2%)
Experiment with different MA periods for various market conditions
Combine with volume indicators for additional confirmation
What Makes This Different
Unlike standard Renko charts that require separate chart types, this indicator:
Overlays directly on candlestick charts
Maintains time-based analysis capabilities
Provides instant visual feedback
Includes built-in risk management levels
Works across all asset classes and timeframes
Disclaimer
This indicator is for educational purposes only. Always conduct thorough backtesting and risk management before live trading. Past performance does not guarantee future results.
Perfect for traders who want the clarity of Renko analysis with the flexibility of traditional charting.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità . Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilitÃ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità . Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilitÃ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.