Brick Zone

Brick Zone

Bullish patterns can be traded when the brick count indicator is in a bullish zone while bearish patterns can be traded when it is in a bearish zone. Brick Zone indicator specially designed for renko chart. The brick zone indicator oscillates around the zero line and can also become negative. It will show a positive value when the number of bullish bricks is greater than zero and will turn up a negative value when the number lesser than zero.

Brick Zone = Number of Bullish Bricks – Number of Bearish Bricks
Above zero – Market Bullish
Below Zero – Market Bearish

This indicator inventor name is “Prashant Shah” and this indicator introduced in “Profitable Trading With Renko Chart” Book.

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?