Renko SR Volume

1 apr

Daily ATR Renko SR Levels with Volume Analysis is a technical indicator that combines Renko-based support/resistance levels with volume analysis. It dynamically calculates Renko boxes using the ATR (Average True Range) of daily data and identifies key price levels. The indicator:

- Uses daily ATR to determine Renko box size.
- Draws support/resistance levels based on Renko price structure.
- Analyzes volume between levels to assess their strength.
- Colors levels based on relative volume activity:
- Red – strongest level (high volume activity).
- Orange – strong level.
- Yellow – moderate level.
- Green – weakest level (low volume activity).
- Detects daily Renko-based trends.

This tool helps traders visualize key price zones with volume confirmation, improving decision-making in trend and range markets.

2 apr

Note di rilascio

The latest update combines the classic Renko SR Volume indicator with an advanced multi-timeframe market structure analysis module. This new version integrates support and resistance levels based on Renko boxes with a detailed market structure table, providing a comprehensive view of the trend across multiple timeframes. Traders can now benefit from:

Enhanced Visualization: Dynamic Renko-based support/resistance levels with volume-based color coding.

Multi-TF Structure Analysis: A new table displaying market structure (Bullish, Bearish, or Consolidation) across customizable timeframes.

Customizable Settings: User-defined parameters for ATR period, price source, pivot length, and timeframes to tailor the analysis to individual trading styles.

Improved Decision Making: Combined insights from Renko box trends and multi-timeframe market structure help in identifying potential breakout or reversal scenarios more effectively.