OPEN-SOURCE SCRIPT
Renko Live Brick Tracker -AYNET
How It Works
Renko Box Initialization:
The Renko box starts at the current price (close).
It dynamically updates based on the box_size input.
Dynamic Boundaries:
The box expands upward or downward as the price moves outside the current Renko brick boundaries.
Box Drawing:
The line.new function is used to draw the four sides of the Renko box.
The previous box lines are deleted on every bar to avoid clutter.
Live Price Tracking:
The live price is plotted as a red line within the Renko box.
Inputs
box_size: Defines the size of the Renko box in price units.
box_color: Controls the fill color of the box.
border_color: Controls the color of the box borders.
Visualization
Dynamic Renko Box:
A box tracks the price’s progress inside the current Renko brick.
Updates dynamically as the price moves.
Live Price Marker:
A red line tracks the current price inside the Renko brick.
Let me know if you’d like any enhancements, such as adding labels or alerts! 😊
Renko Box Initialization:
The Renko box starts at the current price (close).
It dynamically updates based on the box_size input.
Dynamic Boundaries:
The box expands upward or downward as the price moves outside the current Renko brick boundaries.
Box Drawing:
The line.new function is used to draw the four sides of the Renko box.
The previous box lines are deleted on every bar to avoid clutter.
Live Price Tracking:
The live price is plotted as a red line within the Renko box.
Inputs
box_size: Defines the size of the Renko box in price units.
box_color: Controls the fill color of the box.
border_color: Controls the color of the box borders.
Visualization
Dynamic Renko Box:
A box tracks the price’s progress inside the current Renko brick.
Updates dynamically as the price moves.
Live Price Marker:
A red line tracks the current price inside the Renko brick.
Let me know if you’d like any enhancements, such as adding labels or alerts! 😊
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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.