Renko supertrend by Ak

hi friends....publishing Renko supertrend indicator.

Renko charts are a great way to help those who can be spooked by the chaos of the markets (I'm one!), but they have a big drawback in that the price you see on renko chart is often significantly different from the real price that you would trade on. This brings issues of unrealistic expectations of profits/losses, and also makes back testing a strategy very difficult. I still wouldn't recommend ever using TradingView's "strategy" tool when using renko charts, but using this indicator you can do accurate manual back tests.

U have to chose box size..so its not repaint when u refresh chart.. bcs on atr based chart its repaint when u refresh chart.

This uses Renko boxes as source on normal chart..don't use it on renko charts

There is an option for use normal japanes candle supertrend..so we can compare how this renko chart prevent false trades.

Dr Aakash parikh
Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?