Based on my "Renko Reversal Alert".
Will open a long trade and close all short trades, if there is a bullish renko reversal.
Will open a short trade and close all long trades, if there is a bearish renko reversal.
This "Strategy" project has been created by request.
*** EXPERIMENTAL ***
*** USE AT YOUR OWN RISK ***
Strategy based around Renko Bar Chart emulator (ATR) with direction change used to signal long/short trades.
I have generally found that setting the strategy ATR resolution to 3-5x that of the chart you are viewing tends to yield the good...
Volume substitute for those who prefer to use the XBT ticker. Renko on a small time scale is a good option, but lacks wicks.
Can be used as a non-overlay indicator by detaching. Differences are more visible on large time scales, or on Renko.
Possible future changes:
Make the columns more volatile
Change column color based on previous column's value
This is for displaying a price line showing the spread difference of brokers such as 1broker.com or trading212.com where price is different than actual price. It may also be used as an ask line or to provide an additional alternate chart.
- JPY pip correction
- Price Line
- Kagi, Does not work on Forex pairs!
- Western Bar
1. MUST: RENKO ATR 2 YELOOW
2. STRONG: SNIPER 8,8 BUY SIGNAL
3. WEAK: TZ 6,6 BUY SIGNAL
========= SELL =========
1. STRONG: SNIPER 8,8 SELL SIGNAL
2. WEAK: TZ 6,6 SELL SIGNAL
3. WEAK: RENKO ATR 2 RED
RENKO > SNIPER > TZ
6 minutes ago
the sniper buy signal is now based on renko
A 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
This is for displaying a price line showing the spread difference of brokers such as 1broker.com or trading212.com where price is different than actual price. It may also be used as an ask line.
Version 2 is well featured with a toggle for JPY pairs. As well as 5 different traditional charts: Candlesticks, Heikenashi, Renko, Western Bar, Area.
If you like this...
A least squares filter using the Auto line as source, practical for noise removal without higher phase shift.
Its possible to create another parameter for the auto-line length, just add a parameter Period or whatever you want.
r = round(close/round)*round
dev = stdev(close,Period)
Hope you enjoy :)