pune3tghai

HA and Renko Combined

This script is nothing special, but it combines both Renko and HeikinAshi candles in one chart. You need to use it on Regular Japanese Candles Chart.
I have added the feature to set your Renko Brick size yourself. The default is set to 250 for XBTUSD on 30 min time frame.
You can change the brick size to your liking, actual output of this strategy depends on the Renko brick Size so please take care of this part.

Other than that, I have not added any Moving Average or any other indicator for entry and exit.
This strategy works best with the default settings.

NOTE :- Manual Brick size, Default HeikinAshi Settings (Differs from TV's HeikinAshi Candles but the output is similar).

Key Feature:
1. Renko Reduces Noise
2. HeikinAshi presents smoother movement of market (short term).
3. Calculations are done over Japanese Candles, so the output is actually what my strategy represents.
4. No need to look for MA Crossovers, but you can do that if you want.
5. Option for setting the backtest Range for personal use.


Leave your valuable feedback in the comments section below.
Remove from Favorite Scripts Add to Favorite Scripts

Comments

Thanks for this, for the TP and SL i am guessing 100 points is 1% ?

Also are you planning on making a study version

Thanks again
Reply
pune3tghai kkhaial
@kkhaial, Yes I plan on making a Study version,
and I don't think using TP or SL would justify my strategy as at times it goes for moves like 40-50% in general and at times even 80 - 97%.

I plan on adding TP in future versions which would work as SL as well.

but for now I plan on optimizing the strategy for even better results.

I'll be releasing updates in near future so don't forget following me.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out