PROTECTED SOURCE SCRIPT
Updated Enhanced Renko Channel with Emulation and SMA by Dr Devendra
This indicator combines a dynamic Renko-based channel with emulated Renko bricks and a customizable Simple Moving Average (SMA). It provides traders with a powerful tool for identifying trends, visualizing price movement within a Renko framework, and overlaying critical moving average signals.
Features:
Renko Channel:
A Gaussian-based midline with adjustable poles and sampling periods.
True Range-based dynamic channel boundaries.
Visual trend identification with color-coded channel fills.
Renko Emulation:
Emulated Renko brick levels with adjustable brick sizes.
Dynamic brick plotting based on price action.
Simple Moving Average (SMA):
Configurable length and source (e.g., close, hlc3, etc.).
Dynamic color changes based on SMA slope (uptrend or downtrend).
Customizable Inputs:
Adjustable parameters for the channel, Renko emulation, and SMA settings.
Options for reduced lag and fast response modes in the Renko channel.
Features:
Renko Channel:
A Gaussian-based midline with adjustable poles and sampling periods.
True Range-based dynamic channel boundaries.
Visual trend identification with color-coded channel fills.
Renko Emulation:
Emulated Renko brick levels with adjustable brick sizes.
Dynamic brick plotting based on price action.
Simple Moving Average (SMA):
Configurable length and source (e.g., close, hlc3, etc.).
Dynamic color changes based on SMA slope (uptrend or downtrend).
Customizable Inputs:
Adjustable parameters for the channel, Renko emulation, and SMA settings.
Options for reduced lag and fast response modes in the Renko channel.
Release Notes
Updated V1Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
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.