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Renko

Renko AccelerationRenko is a very useful charting method for analyzing stock movement. It does a great job of filtering out all the excess noise so that all we're left with is pure price action. But, what about time? Time is a fundamental part of chart analysis and we are only seeing part of the picture. After all, shouldn't we take a very different approach to trading signals from a block that renders in 2 seconds as opposed to a block that renders in 30 minutes? This indicator provides the best of both worlds, enabling us to correlate the passing of time with price movement and clearly see when squeezes and breakouts occur. As the indicator turns up to green we can see that volatility is on the move and the market is accelerating (breakout), and as it turns down to red the market is stagnating (squeeze). There is also an alternate 'Precise' view which renders the exact time per block for more granular analysis.
Indicatore Pine Script®
di sourcey
6
Renko Weis Wave VolumeThis is live and non-repainting Renko Weis Wave Volume tool. The tool has it’s own engine and not using integrated function of Trading View. Renko charts ignore time and focus solely on price changes that meet a minimum requirement. Time is not a factor on Renko chart but as you can see with this script Renko RSI created on time chart. Renko chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify. As source Closing price or High/Low can be used. Traditional or ATR can be used for scaling. If ATR is chosen then there is rounding algorithm according to mintick value of the security. For example if mintick value is 0.001 and brick size (ATR/Percentage) is 0.00124 then box size becomes 0.001. And also while using dynamic brick size (ATR), box size changes only when Renko closing price changed. This tool is based on the Weis Wave described by David H. Weis (a Wyckoff specialist). The Weis Waves Indicator sums up volumes in each wave. This is how we receive a bar chart of cumulative volumes of alternating waves and The cumulative volume makes the Weis wave charts unique. If there is no volume information for the security then this tool has an option to use “True Range” instead of volume . Better to use this script with the following one: Enjoy!
Indicatore Pine Script®
di LonesomeTheBlue
16
Renko RSIThis is live and non-repainting Renko RSI tool. The tool has it’s own engine and not using integrated function of Trading View. Renko charts ignore time and focus solely on price changes that meet a minimum requirement. Time is not a factor on Renko chart but as you can see with this script Renko RSI created on time chart. Renko chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify. As source Closing price or High/Low can be used. Traditional or ATR can be used for scaling. If ATR is chosen then there is rounding algorithm according to mintick value of the security. For example if mintick value is 0.001 and brick size (ATR/Percentage) is 0.00124 then box size becomes 0.001. And also while using dynamic brick size (ATR), box size changes only when Renko closing price changed. Renko RSI is calculated by own Renko RSI algorithm. Alerts added: Renko RSI moved below Overbought level Renko RSI moved above Overbought level Renko RSI moved below Oversold level Renko RSI moved above Oversold level RSI length is 2 by default, you can set as you wish. You better to use this script with the following one: Enjoy!
Indicatore Pine Script®
di LonesomeTheBlue
18
Renko ChartHello All. This is live and non-repainting Renko Charting tool. The tool has it’s own engine and not using integrated function of Trading View. Renko charts ignore time and focus solely on price changes that meet a minimum requirement. Time is not a factor on Renko chart but as you can see with this script Renko chart created on time chart. Renko chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify. in the script Renko Trend Line with threshold area is included. and also there is protection from whipsaws, so you can catch big waves with very good entry points. Trend line is calculated by EMA of Renko closing price. As source Closing price or High/Low can be used. Traditional or ATR can be used for scaling. If ATR is chosen then there is rounding algorithm according to mintick value of the security. For example if mintick value is 0.001 and brick size (ATR/Percentage) is 0.00124 then box size becomes 0.001. And also while using dynamic brick size (ATR), box size changes only when Renko closing price changed. Renko bar can be seen as area or candle and also optionally bar color changes when Renko trend changed. Soon other Renko scripts (Renko RSI, Renko Weis Wave, Renko MACD etc) are coming ;) ENJOY!
Indicatore Pine Script®
di LonesomeTheBlue
80
Renko Chart Alerts with PivotsAdd alerts to renko charts to be notified when: new brick brick up brick down direction change direction change up direction change down Also shows pivots based on brick reversals. Alerts also available for: pivot breakout pivot high breakout pivot low breakout You can hide the plots for pivot high/low and breakouts in the style tab of the settings for the indicator. To add the alerts: add the indicator to your renko chart click add alert click the condition dropdown and choose Renko Alerts you should see all the alerts there and you can add any one or more to your chart
Indicatore Pine Script®
di ragamufin
19
RENKO Modified (NO REPAINT CODE)I'm releasing this code in public Interest in hope of getting it improved by the community. If someone wants to use this code, then he/she should publish this code in Public Library with Open Source reference. The code is entirely mine and not anyone else's. I would love to see some imporvements to this code, so if you have any suggestions then let me know in the comments section and if someone can actually make it better than it would be great. I'll share the logic for BUY and Sell upon agrreing on mutual terms. As of this moment, the code simply plots Renko Bars, based on Daily Open. I have added Daily close as an option in this, just in case someone wants it. similarly you can call upon High and Low (for Obvious Reasons) It CAN NOT REPAINT at all!!!!
Indicatore Pine Script®
di puneetghai
13
[RESEARCH] Renko Chart IdentifierDespite I am not a big fan of Renko I spent some time to solve a common problem of chart type identification using absolutely obvious technique: Renko bricks have the same size. That's all. Not a cutting-edge maths. This tool allows to identify: ATR Renko charts (see ^) Traditional Renko charts Here is example for Traditional Renko: It also works correctly with other chart types: Classic Candles Heikin-Ashi Kagi PnF Range Bars Remember @everget ! And pay attention to the license before use)
Indicatore Pine Script®
di everget
11
Renko CandlesticksRenko charts are awesome . They reduce noise by only painting a brick on the chart when price moves by a specified amount up/down. When the price reverses, it must go twice the specified amount before a brick is painted. Time is not a factor, just price movement. Sometimes however, you want the pros of a renko chart, but on a regular candlestick chart. This indicator attempts to do just that. A band is placed around price action showing the upper and lower bounds of what would be the current renko brick. The band only goes up/down when the price action itself moves up/down by the amount you specify. There are several ways of specifying the amount: Fixed Price Amount: As the name says, you enter the brick size amount, i.e. the amount the price has to move before being in a new brick. % of Price: This method will calculate the amount the price has to move as a percentage of the price itself. This way as price goes up/down, your brick size will adjust accordingly. Recommended values would be around 1% or less. % of ATR: This option will make the brick size a percentage of the Average True Range. You can specify the ATR time frame to be different from your current time frame as well as the ATR length. For instance you could be on a 10 minute chart but specify the ATR to be daily with a length of 3 and a percentage amount of 15. This would make your brick size 15% of the Average True Range for the last 3 days. Recommended values are 10 to 20%. Use this indicator on any time frame, even the 1 minute as the renko bands span the price action the same way on any time frame easily letting you know whether or not the price has moved appreciably, regardless of how much time has passed. You can also set alerts easily, simply set the alert to crossing and choose “Renko Candlesticks” instead of “Value”. You will then see the options for the renko upper and lower bounds. Tested on Bitcoin with the following values: Fixed Price Amount: 30 ($30) % of Price: 0.45 (if Bitcoin is $7000 then the brick size would be $31.50) % of ATR: 15%, ATR Time Frame: 1D, ATR Length: 3 (3 days)
Indicatore Pine Script®
di ragamufin
19
RENKO INDICATOR OVERLAY by CryptoJoncisA very simple and basic renko indicator for any time frame and ticker. Please be aware, the minimum value for traditional renko box size = 0.0001 so if you are using this indicator for trading with cryptocurrencies, it might be better to use ATR for that. Can be merged together with main chart for better performance. Consider a tip if you find this helpful BTC: 3FiBnveHo3YW6DSiPEmoCFCyCnsrWS3JBR ETH: 0xac290B4A721f5ef75b0971F1102e01E1942A4578
Indicatore Pine Script®
di CryptoJoncis
2