ZTLs Flex Renko EmulatorUpdate to my Flex Renko Emulator. I have added yellow projection lines where the price needs to be for next brick to be drawn.
Cerca negli script per "renko"
[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)
[MACLEN] HODL ZONE RENKO
PLEASE READ!
Trade at your own risk. Please read about renko charts before using this indicator. This indicator is for educational purposes only.
This Indicator is only valid in renko charts with 1 second timeframe. For BTCUSDT . With the traditional method and the size box of 80.
With this indicator we can detect zones of buy and sell. Even that is not recommended to use leverage, I use it to find an entry and use only small leverages. It could be also used to accumulate and HODL bitcoin .
Please, comment anything.
POR FAVOR LEER!
Tradea bajo tu propio riesgo. Por favor lee sobre las graficas renko antes de usar este indicador. Este indicador es solamente con fines educativos.
Este indicador es válido solamente en graficas renko con un timeframe de 1 segundo. Para BTCUSDT . Con cajas del método tradicional de un tamaño de 80.
Con este indicador podemos detectar zonas de compra y venta. A pesar de que no es recomendable usar apalancamiento, yo lo uso para encontrar entradas y solo uso apalancamientos pequeños. También podría usarse para acumular y holdear bitcoin .
Por favor, escríbeme cualquier duda o comentario.
Non-Repainting Renko Emulation Strategy [PineIndicators]Introduction: The Repainting Problem in Renko Strategies
Renko charts are widely used in technical analysis for their ability to filter out market noise and emphasize price trends. Unlike traditional candlestick charts, which are based on fixed time intervals, Renko charts construct bricks only when price moves by a predefined amount. This makes them useful for trend identification while reducing small fluctuations.
However, Renko-based trading strategies often fail in live trading due to a fundamental issue: repainting .
Why Do Renko Strategies Repaint?
Most trading platforms, including TradingView, generate Renko charts retrospectively based on historical price data. This leads to the following issues:
Renko bricks can change or disappear when new data arrives.
Backtesting results do not reflect real market conditions. Strategies may appear highly profitable in backtests because historical data is recalculated with hindsight.
Live trading produces different results than backtesting. Traders cannot know in advance whether a new Renko brick will form until price moves far enough.
Objective of the Renko Emulator
This script simulates Renko behavior on a standard time-based chart without repainting. Instead of using TradingView’s built-in Renko charting, which recalculates past bricks, this approach ensures that once a Renko brick is formed, it remains unchanged .
Key benefits:
No past bricks are recalculated or removed.
Trading strategies can execute reliably without false signals.
Renko-based logic can be applied on a time-based chart.
How the Renko Emulator Works
1. Parameter Configuration & Initialization
The script defines key user inputs and variables:
brickSize : Defines the Renko brick size in price points, adjustable by the user.
renkoPrice : Stores the closing price of the last completed Renko brick.
prevRenkoPrice : Stores the price level of the previous Renko brick.
brickDir : Tracks the direction of Renko bricks (1 = up, -1 = down).
newBrick : A boolean flag that indicates whether a new Renko brick has been formed.
brickStart : Stores the bar index at which the current Renko brick started.
2. Identifying Renko Brick Formation Without Repainting
To ensure that the strategy does not repaint, Renko calculations are performed only on confirmed bars.
The script calculates the difference between the current price and the last Renko brick level.
If the absolute price difference meets or exceeds the brick size, a new Renko brick is formed.
The new Renko price level is updated based on the number of bricks that would fit within the price movement.
The direction (brickDir) is updated , and a flag ( newBrick ) is set to indicate that a new brick has been formed.
3. Visualizing Renko Bricks on a Time-Based Chart
Since TradingView does not support live Renko charts without repainting, the script uses graphical elements to draw Renko-style bricks on a standard chart.
Each time a new Renko brick forms, a colored rectangle (box) is drawn:
Green boxes → Represent bullish Renko bricks.
Red boxes → Represent bearish Renko bricks.
This allows traders to see Renko-like formations on a time-based chart, while ensuring that past bricks do not change.
Trading Strategy Implementation
Since the Renko emulator provides a stable price structure, it is possible to apply a consistent trading strategy that would otherwise fail on a traditional Renko chart.
1. Entry Conditions
A long trade is entered when:
The previous Renko brick was bearish .
The new Renko brick confirms an upward trend .
There is no existing long position .
A short trade is entered when:
The previous Renko brick was bullish .
The new Renko brick confirms a downward trend .
There is no existing short position .
2. Exit Conditions
Trades are closed when a trend reversal is detected:
Long trades are closed when a new bearish brick forms.
Short trades are closed when a new bullish brick forms.
Key Characteristics of This Approach
1. No Historical Recalculation
Once a Renko brick forms, it remains fixed and does not change.
Past price action does not shift based on future data.
2. Trading Strategies Operate Consistently
Since the Renko structure is stable, strategies can execute without unexpected changes in signals.
Live trading results align more closely with backtesting performance.
3. Allows Renko Analysis Without Switching Chart Types
Traders can apply Renko logic without leaving a standard time-based chart.
This enables integration with indicators that normally cannot be used on traditional Renko charts.
Considerations When Using This Strategy
Trade execution may be delayed compared to standard Renko charts. Since new bricks are only confirmed on closed bars, entries may occur slightly later.
Brick size selection is important. A smaller brickSize results in more frequent trades, while a larger brickSize reduces signals.
Conclusion
This Renko Emulation Strategy provides a method for using Renko-based trading strategies on a time-based chart without repainting. By ensuring that bricks do not change once formed, it allows traders to use stable Renko logic while avoiding the issues associated with traditional Renko charts.
This approach enables accurate backtesting and reliable live execution, making it suitable for trend-following and swing trading strategies that rely on Renko price action.
MTF RenkoThis indicator Should be opened on a 15 min chart
It will display the Renko Highs and lows of:
30 min chart
45 min chart
60 min chart
and
120 min chart
Pseudo-Renko Stabilized (Val)█ CALCULATE PSEUDO-RENKO VALUE
Calculates and returns the Pseudo-Renko Stabilized value (or close price) based on a given input value, along with the direction of the current Renko brick. This function adapts the traditional Renko brick size dynamically based on the volatility of the input value using a combination of SMA and EMA calculations. The calculated price represents the closing price of the most recent Pseudo-Renko brick, while the direction indicates the trend ( 1 for uptrend, -1 for downtrend).
Parameters:
* `val` :
* Type: ` float `
* Description: The input value upon which the Pseudo-Renko calculations are performed. You can use any price series or custom value as input.
* `sensitivity` :
* Type: ` float `
* Default Value: ` 1.0 `
* Description: Controls the sensitivity of the brick size to the volatility of the `val`. Higher values lead to larger bricks, resulting in a smoother Renko chart. Lower values produce smaller bricks, leading to a more reactive chart.
* Possible Values: Any positive float.
* `length` :
* Type: ` int `
* Default Value: ` 7 `
* Description: The length used for calculating the EMA and SMA in the dynamic brick size calculation. It influences how quickly the brick size adapts to changing volatility of the `val`.
* Possible Values: Any positive integer.
Return Values:
* `lastRenkoClose` :
* Type: ` float `
* Description: The closing price of the last completed Pseudo-Renko brick based on the `val`.
* `renkoDirection` :
* Type: ` int `
* Description: The direction of the current Pseudo-Renko brick based on the `val`:
* ` 1 `: Uptrend
* ` -1 `: Downtrend
* ` 0 `: No change (initially, or no brick change since the previous bar)
Example Usage:
//@version=5
indicator("Pseudo-Renko Stabilized (Val)", overlay=true)
// Get user inputs
sensitivityInput = input.float(0.1, "Sensitivity",0.01,step=0.01)
lengthInput = input.int(5, "Length",2)
// Example usage with the 'close' price as the input value
= pseudo_renko(math.avg(close,open), sensitivityInput, lengthInput)
// Plot the Renko close price
plot(renkoClose, "Renko Close", renkoDirection>0?color.aqua:color.orange,2)
// You can also use other values as input, such as:
// = pseudo_renko(high, sensitivityInput, lengthInput)
// = pseudo_renko(low, sensitivityInput, lengthInput)
This example demonstrates how to use the `pseudo_renko` function within an indicator. It takes user inputs for `sensitivity` and `length`, then calculates the Pseudo-Renko values using the average of the `close` and `open` prices as the `val`. The resulting `renkoClose` price is plotted on the chart, with a color change based on the `renkoDirection`. It also illustrates how you can use other values, like `high` and `low`, as input to the function.
Note: The Pseudo-Renko algorithm is based on adapting the Renko brick size dynamically based on the input `val`. This provides more flexibility compared to the normal, but is experimental. The `sensitivity` and `length` parameters, along with the choice of the `val`, offer further customization to tune the algorithm's behavior to your preference and trading style.
Hancock - RenkoThis is the first release of Renko indicator.
Renko is plotted over candles and best calculates the number of Renko bricks printed up or down per candle which can be viewed from the data window. It plots the high and low of a the bricks, if numerous bricks are printed on a candle, as well as the open and close of a Renko brick.
This will be actively developed and improved over the next few months and i will be basing other indicators from this Renko.
Happy trading
Hancock
HKM - Renko Emulator with EMA TrendThis is a Renko based Emulator to plot on any chart type which prints the box as printed on a Renko charts and is a Non-Repaint version. You can use either Traditional or ATR Method on current chart Timeframe. Option to plot an EMA Line is provided with Trend indication.
[tradinghook] - Renko Trend Reversal Strategy V2Title: Renko Trend Reversal Strategy
Short Title: - Renko TRS
> Special thanks to for manually calculating `renkoClose` and `renkoOpen` values in order to remove the infamous repaint issue
Description:
The Renko Trend Reversal Strategy ( - Renko TRS) is a powerful and original trading approach designed to identify trend reversals in financial markets using Renko charts. Renko charts differ from traditional time-based charts, as they focus solely on price movements and ignore time, resulting in a clearer representation of market trends. This strategy leverages Renko charts in conjunction with the Average True Range (ATR) to capture trend reversals with high precision and effectiveness.
Key Concepts:
Renko Charts: Renko charts are unique chart types that only plot price movements beyond a predefined brick size, ignoring time and noise. By doing so, they provide a more straightforward depiction of market trends, eliminating insignificant price fluctuations and making it easier to spot trend reversals.
Average True Range (ATR): The strategy utilizes the ATR indicator, which measures market volatility and provides valuable insights into potential price movements. By setting the brick size of the Renko chart based on the ATR, the strategy adapts to changing market conditions, ensuring optimal performance across various instruments and timeframes.
How it Works:
The Renko Trend Reversal Strategy is designed to identify trend reversal points and generate buy or sell signals based on the following principles:
Renko Brick Generation: The strategy calculates the ATR over a user-defined period (ATR Length) and utilizes this value to determine the size of Renko bricks. Larger ATR values result in bigger bricks, capturing higher market volatility, while smaller ATR values create smaller bricks for calmer market conditions.
Buy and Sell Signals: The strategy generates buy signals when the Renko chart's open price crosses below the close price, indicating a potential bullish trend reversal. Conversely, sell signals are generated when the open price crosses above the close price, suggesting a bearish trend reversal. These signals help traders identify potential entry points to capitalize on market movements.
Stop Loss and Take Profit Management: To manage risk and protect profits, the strategy incorporates dynamic stop-loss and take-profit levels. The stop-loss level is calculated as a percentage of the Renko open price, ensuring a fixed risk amount for each trade. Similarly, the take-profit level is set as a percentage of the Renko open price to secure potential gains.
How to Use:
Inputs: Before using the strategy, traders can customize several parameters to suit their trading preferences. These inputs include the ATR Length, Stop Loss Percentage, Take Profit Percentage, Start Date, and End Date. Adjusting these settings allows users to optimize the strategy for different market conditions and risk tolerances.
Chart Setup: Apply the - Renko TRS script to your desired financial instrument and timeframe on TradingView. The Renko chart will dynamically adjust its brick size based on the ATR Length parameter.
Buy and Sell Signals: The strategy will generate green "Buy" labels below bullish reversal points and red "Sell" labels above bearish reversal points on the Renko chart. These labels indicate potential entry points for long and short trades, respectively.
Risk Management: The strategy automatically calculates stop-loss and take-profit levels based on the user-defined percentages. Traders can ensure proper risk management by using these levels to protect their capital and secure profits.
Backtesting and Optimization: Before implementing the strategy live, traders are encouraged to backtest it on historical data to assess its performance across various market conditions. Adjust the input parameters through optimization to find the most suitable settings for specific instruments and timeframes.
Conclusion:
The - Renko Trend Reversal Strategy is a unique and versatile tool for traders looking to identify trend reversals with greater accuracy. By combining Renko charts and the Average True Range (ATR) indicator, this strategy adapts to market dynamics and provides clear entry and exit signals. Traders can harness the power of Renko charts while effectively managing risk through stop-loss and take-profit levels. Before using the strategy in live trading, backtesting and optimization will help traders fine-tune the parameters for optimal performance. Start exploring trend reversals with the - Renko TRS and take your trading to the next level.
(Note: This description is for illustrative purposes only and does not constitute financial advice. Traders are advised to thoroughly test the strategy and exercise sound risk management practices when trading in real markets.)
[STRATEGY]Renko Emulator OCC v1 by JustUncleLThis "Strategy" project has been created by request.
*** EXPERIMENTAL ***
*** USE AT YOUR OWN RISK ***
Description:
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 results, regardless of which chart time used. Positions get taken automatically following THE Renko Bar after a crossover.
The emulated Renko bars can optionally be draw on the chart.
[INDICATOR]Renko Emulator OCC v1 by JustUncleLThis "Study" project has been created by request and is used in conjunction with the "Strategy" version.
*** EXPERIMENTAL ***
*** USE AT YOUR OWN RISK ***
Description:
Indicator based around Renko Bar Chart emulator (ATR) with direction change used to signal buy/sell 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 results, regardless of which chart time used. Positions get taken automatically following THE Renko Bar after a crossover.
Hancock - Renko Brick ProductionThis is the accompanying script that shows how many renko bricks were produced in each direction per candle. It gives a basic indication of volatility, some might find it useful.
Happy trading
Hancock
[tradinghook] - Renko Trend Reversal Strategy - Renko Trend Reversal Strategy
Short Title: - Renko TRS
Description:
The Renko Trend Reversal Strategy ( - Renko TRS) is a powerful and original trading approach designed to identify trend reversals in financial markets using Renko charts. Renko charts differ from traditional time-based charts, as they focus solely on price movements and ignore time, resulting in a clearer representation of market trends. This strategy leverages Renko charts in conjunction with the Average True Range (ATR) to capture trend reversals with high precision and effectiveness.
Key Concepts:
Renko Charts: Renko charts are unique chart types that only plot price movements beyond a predefined brick size, ignoring time and noise. By doing so, they provide a more straightforward depiction of market trends, eliminating insignificant price fluctuations and making it easier to spot trend reversals.
Average True Range (ATR): The strategy utilizes the ATR indicator, which measures market volatility and provides valuable insights into potential price movements. By setting the brick size of the Renko chart based on the ATR, the strategy adapts to changing market conditions, ensuring optimal performance across various instruments and timeframes.
How it Works:
The Renko Trend Reversal Strategy is designed to identify trend reversal points and generate buy or sell signals based on the following principles:
Renko Brick Generation: The strategy calculates the ATR over a user-defined period (ATR Length) and utilizes this value to determine the size of Renko bricks. Larger ATR values result in bigger bricks, capturing higher market volatility, while smaller ATR values create smaller bricks for calmer market conditions.
Buy and Sell Signals: The strategy generates buy signals when the Renko chart's open price crosses below the close price, indicating a potential bullish trend reversal. Conversely, sell signals are generated when the open price crosses above the close price, suggesting a bearish trend reversal. These signals help traders identify potential entry points to capitalize on market movements.
Stop Loss and Take Profit Management: To manage risk and protect profits, the strategy incorporates dynamic stop-loss and take-profit levels. The stop-loss level is calculated as a percentage of the Renko open price, ensuring a fixed risk amount for each trade. Similarly, the take-profit level is set as a percentage of the Renko open price to secure potential gains.
How to Use:
Inputs: Before using the strategy, traders can customize several parameters to suit their trading preferences. These inputs include the ATR Length, Stop Loss Percentage, Take Profit Percentage, Start Date, and End Date. Adjusting these settings allows users to optimize the strategy for different market conditions and risk tolerances.
Chart Setup: Apply the - Renko TRS script to your desired financial instrument and timeframe on TradingView. The Renko chart will dynamically adjust its brick size based on the ATR Length parameter.
Buy and Sell Signals: The strategy will generate green "Buy" labels below bullish reversal points and red "Sell" labels above bearish reversal points on the Renko chart. These labels indicate potential entry points for long and short trades, respectively.
Risk Management: The strategy automatically calculates stop-loss and take-profit levels based on the user-defined percentages. Traders can ensure proper risk management by using these levels to protect their capital and secure profits.
Backtesting and Optimization: Before implementing the strategy live, traders are encouraged to backtest it on historical data to assess its performance across various market conditions. Adjust the input parameters through optimization to find the most suitable settings for specific instruments and timeframes.
Conclusion:
The - Renko Trend Reversal Strategy is a unique and versatile tool for traders looking to identify trend reversals with greater accuracy. By combining Renko charts and the Average True Range (ATR) indicator, this strategy adapts to market dynamics and provides clear entry and exit signals. Traders can harness the power of Renko charts while effectively managing risk through stop-loss and take-profit levels. Before using the strategy in live trading, backtesting and optimization will help traders fine-tune the parameters for optimal performance. Start exploring trend reversals with the - Renko TRS and take your trading to the next level.
(Note: This description is for illustrative purposes only and does not constitute financial advice. Traders are advised to thoroughly test the strategy and exercise sound risk management practices when trading in real markets.)
Renko Chart EmulationRenko charts are a popular tool in technical analysis, known for their ability to filter out market noise and focus purely on price movements. Unlike traditional candlestick or bar charts, Renko charts are not time-based but are constructed using bricks that represent a fixed price movement. This makes them particularly useful for identifying trends and key levels of support and resistance. While Renko charts are commonly found on platforms with specialized charting capabilities, they can also be emulated in Pine Script as a line indicator.
The Renko emulation indicator in Pine Script calculates the movement of price based on a user-defined brick size. Whenever the price moves up or down by an amount equal to or greater than the brick size, a new level is plotted, indicating a shift in price direction. This approach helps traders visualize significant price moves without the distractions of smaller fluctuations. By plotting the Renko levels as a continuous line and coloring it based on direction, this indicator provides a clean and straightforward representation of market trends.
Traders can use this Renko emulation line to identify potential entry and exit points, as well as to confirm ongoing trends. The simplicity of Renko charts makes them a favorite among those who prefer a minimalist approach to technical analysis. However, it is essential to choose an appropriate brick size that aligns with the volatility of the trading instrument. A smaller brick size may result in frequent signals, while a larger one can smooth out the chart, focusing only on the most substantial price movements. This script offers a flexible solution for incorporating Renko-style analysis into any trading strategy.
Joseph Nemeth Heiken Ashi Renko MTF StrategyFor Educational Purposes. Results can differ on different markets and can fail at any time. Profit is not guaranteed. This only works in a few markets and in certain situations. Changing the settings can give better or worse results for other markets.
Nemeth is a forex trader that came up with a multi-time frame heiken ashi based strategy that he showed to an older audience crowd on a speaking event video. He seems to boast about his strategy having high success results and makes an astonishing claim that looking at heiken ashi bars instead of regular candlestick bar charts can show the direction of the trend better and simpler than many other slower non-price based indicators. He says pretty much every indicator is about the same and the most important indicator is price itself. He is pessimistic about the markets and seems to think it is rigged and there is a sort of cabal that created rules to favor themselves, such as the inability of traders to hedge in one broker account, and that to win you have to take advantage of the statistics involved in the game. He believes fundamentals, chart patterns such as cup and handle and head and shoulders, and fibonacci numbers don't matter, only price matters. The foundation of his trading strategy is based around heiken ashi bars because they show a statistical pattern that can supposedly be taken advantage of by them repeating around seventy or so percent of the time, and then combines this idea with others based on the lower time frames involved.
The first step he uses is to identify the trend direction in the higher time frame(daily or 4 hourly) using the color of the heiken ashi bar itself. If it is green then take only long position after the bar completes, if it is red then take only short position. Next, on a lower time frame(1 hour or 30 minutes) look for the slope of the 20 exponential moving average to be sloping upward if going long or the slope of the ema to be sloping downward if going short(the price being above the moving average can work too if it's too hard to visualize the slope). Then look for the last heiken ashi bar, similarly to the first step, if it is green take long position, if it is red take short position. Finally the entry indicator itself will decide the entry on the lowest time frame. Nemeth recommends using MACD or CCI or possibly combine the two indicators on a 5 min or 15 min or so time frame if one does not have access to renko or range bars. If renko bars are available, then he recommends a 5 or 10 tick bar for the size(although I'm not sure if it's really possible to remove the time frame from renko bars or if 5 or 10 ticks is universal enough for everything). The idea is that renko bars paint a bar when there is price movement and it's important to have movement in the market, plus it's a simple indicator to use visually. The exit strategy is when the renko or the lowest time frame indicator used gives off an exit signal or if the above conditions of the higher time frames are not being met(he was a bit vague on this). Enter trades with only one-fifth of your capital because the other fifths will be used in case the trades go against you by applying a hedging technique he calls "zero zone recovery". He is somewhat vague about the full workings(perhaps because he uses his own software to automate his strategy) but the idea is that the second fifth will be used to hedge a trade that isn't going well after following the above, and the other fifths will be used to enter on another entry condition or if the other hedges fail also. Supposedly this helps the trader always come out with a profit in a sort of bushido-like trading tactic of never accepting defeat. Some critics argue that this is simply a ploy by software automation to boost their trade wins or to sell their product. The other argument against this strategy is that trading while the heiken ashi bar has not completed yet can jack up the backtest results, but when it comes to trading in real time, the strategy can end up repainting, so who knows if Nemeth isn't involving repainting or not, however he does mention the trades are upon completion of the bar(it came from an audience member's question). Lastly, the 3 time frames in ascending or descending fashion seem to be spaced out by about factors of 4 if you want to trade other time frames other than 5/15min,30min/1hour, or 4hour/daily(he mentioned the higher time frame should be atleast a dozen times higher than the lower time frame).
Personally I have not had luck getting the seventy+ percent accuracy that he talks about, whether in forex or other things. I made the default on renko bars to an ATR size 1 setting because it looks like the most universal option if the traditional mode box size is too hard to guess, and I made it so that you can switch between ATR and Traditional mode just in case. I don't think the strategy repaints because I think TV set a default on the multi-time frame aspects of their code to not re-paint, but I could be wrong so you might want to watch out for that. The zero zone recovery technique is included in the code but I commented it out and/or remove it because TV does not let you apply hedging properly, as far as I know. If you do use a proper hedging strategy with this, you'll find a very interesting bushido type of trading style involved with the Japanese bars that can boost profits and win rates of around possibly atleast seventy percent on every trade but unfortunately I was not able to test this part out properly because of the limitation on hedging here, and who knows if the hedging part isn't just a plot to sell his product. If his strategy does involve the repainting feature of the heiken ashi bars then it's possible he might have been preaching fools-gold but it's hard to say because he did mention it is upon completion of the bars. If you find out if this strategy works or doesn't work or find out a good setting that I somehow didn't catch, please feel free to let me know, will gladly appreciate it. We are all here to make some money!
MestreDoFOMO Renko Underground v4.0Description:
The "MestreDoFOMO Renko Underground v4.0" is a custom indicator for TradingView that creates a dynamic Renko chart to help identify trends and reversal points in the market. Unlike traditional candlestick charts, Renko focuses solely on significant price movements, ignoring time and market noise. This script includes advanced features like support and resistance channels, moving averages, and alerts to assist with your trading decisions.
How It Works:
Dynamic Renko Bricks:
The brick size (price units to form each "box" on the chart) is calculated automatically using the ATR (Average True Range) with an adjustable multiplier. This means the size adapts to the asset's volatility (e.g., BTC/USDT). When the price moves up or down by the brick size, a new brick is created (green for up, red for down).
Reversal Signals:
Green triangles (🔼) appear below bars when the trend shifts to bullish, and red triangles (🔽) appear above when it shifts to bearish. These signals only appear on direction changes, reducing false signals.
Renko Channel:
The script draws two lines (green for resistance and red for support) based on the highs and lows of the last 10 bricks (or the value you set). This helps identify key price zones.
Moving Average on Bricks:
An orange line shows the moving average (EMA or SMA, your choice) of the last 20 bricks, helping confirm the overall trend.
Alerts:
You can set up alerts in TradingView to be notified when the trend shifts to bullish or bearish, perfect for active trading.
Visualization:
A gray dashed line shows the level of the last brick, providing a clear reference for the next expected move.
How to Use:
Add the indicator to your chart (e.g., BTC/USDT 1D).
Adjust parameters like the ATR multiplier, channel length, and moving average type in the settings menu.
Watch the bricks and signals to identify trends, and use the channels and moving average to plan entries and exits.
Enable alerts to receive real-time notifications.
Tip:
Test on different timeframes (1H, 4H, 1D) and adjust the ATR multiplier to match the volatility of the asset you're trading. Combine with other indicators (like RSI) for better results!
alpha Renko intraday wave timeI was asked to share my experimental Renko intraday wave time. So here it is warts and all. The same for the rest - except the Weis cumulative volume.
Renko wave time is in minutes. This script is strictly intraday and has not been played with extensively.
You must use traditional Renko and set the script wave size to the same size as the Renko brick size.
If you click on the sideways wishbone or "V" in the middle upper part of the chart you will get all of the scripts in this particular sandbox. After clicking the sideways wish bone click on "make it mine". You will then have the whole sandbox. The only published script is the Weis cumulative wave.
The "Boys MAs" is supposed to be a script for daily charts and from within some kind of consolidation. In any case I am intrigued by some signals. You have a variety of sandbox options in the format section of the boys MAs.
These codes are pretty rough with lots of abandoned lines of script.
CM Renko Overlay BarsCM_Renko Overlay Bars V1
Overlays Renko Bars on Regular Price Bars.
Default Renko plot is based on Average True Range. Look Back period adjustable in Inputs Tab.
If you Choose to use "Traditional" Renko bars and pick the Size of the Renko Bars the please read below.
Value in Input Tab is multiplied by .001 (To work on Forex)
1 = 10 pips on EURUSD - 1 X .001 = .001 or 10 Pips
10 = .01 or 100 Pips
1000 = 1 point to the left of decimal. 1 Point in Stocks etc.
10000 = 10 Points on Stocks etc.
***V2 will fix this issue.
Tick Renko Chart - Percent BasedA Renko Tick chart based on continuously adjusting percentage.
Live Renko bricks formed by tick data
Adjustable brick width
Outline mode, or line mode for more bricks
Scalp with a Renko, get weird.
The settings can and will break the script if you turn them up too high. Turning off outline mode will not look as nice, but can potentially allow for a larger number of bricks.
Renko Emulator - Rev NR - Released - 12-29-22Renko Emulator - Rev NR - Released 12-29-22
By Hockeydude84
Simple script to Emulate Renko Charting behavior on standard candle stick charts. Code provide capability to select between standard(ish) Renko bricks (in this code it's defined by percent vs ticks/value), or an ATR brick option. For ATR bricks, the code provides an option to inhibit emulator movement (formation of new bricks) by providing a minimum threshold that must be present. This threshold is the "Standard Brick" input (the input pulls double duty). Code also provides multiple plotting options.
Use the code to help see trends and reduce the chop/erroneous data. Also helps to identify where trend deviations are present.
