I'm releasing this code in public Interest in hope of getting it improved by the community. If someone wants to use this code, then he/she should publish this code in Public Library with Open Source reference.
The code is entirely mine and not anyone else's.
I would love to see some imporvements to this code, so if you have any suggestions then let me know in...
Renko charts are awesome. They reduce noise by only painting a brick on the chart when price moves by a specified amount up/down. When the price reverses, it must go twice the specified amount before a brick is painted. Time is not a factor, just price movement. Sometimes however, you want the pros of a renko chart, but on a regular candlestick chart. This...
CM_Renko Overlay Bars V1
Overlays Renko Bars on Regular Price Bars.
Default Renko plot is based on Average True Range. Look Back period adjustable in Inputs Tab.
If you Choose to use "Traditional" Renko bars and pick the Size of the Renko Bars the please read below.
Value in Input Tab is multiplied by .001 (To work on Forex)
1 = 10 pips on EURUSD - 1 X .001 =...
This script idea is designed to be used with 10pip brick (recommended) Renko charts. It combines the Renko price action with a directional coloured EMA (default length 6) and a RMI (instead of the usual RSI) indicator to provide entry and exit signals. RMI is bit like RSI with a built-in momentum factor and works well with Renko.
Signals can optionally be...
Use this script to create server-side alerts of renko reversals and to visually plot the signals.
To do this, simply apply the indicator to a chart and right click onto one of the arrows plotted. Choose "Add alert" and then "Long opportunity" and "Short opportunity" in order to create the two alerts per instrument.
Buy signal is generated if a bearish renko...
- WHAT: This creates an alert that will trigger JUST AFTER 1 Renko bar changed direction. This way you can capture direction swings. BLUE spike is long. RED spike is short.
- PLAY AROUND WITH: Renko brick size & TradingView Timeframe (for timeframe less than 1 day you d need to pay for the TV Pro subscription. Its ok, support them, they are good people with...
Sorry I have had trouble getting the TradingView to point to the "Alerts" script instead of the "Backtest".
This is the Alerts part of this pair of Scripts. This part creates alerts to be picked up by the Chrome Add-on.
// Shows the price renko bars (or range bars) instead of the PERIOD renko
// bars that are integrated into Trading View. The normal renko bars that
// Trading View offers only consider the drawing of a new brick when the
// price closes above or below the required brick size. This can produce
// misleading charts since depending on the time interval of a chart,...
This is a script to place Renko candles on your chart alongside another candle type or more importantly, using the variables from this script, you can build a strategy using Renko candles that will depict true/proper entries and exits in a strategy when using the backtest feature.
We hope this helps!
Despite I am not a big fan of Renko I spent some time to solve a common problem of chart type identification using absolutely obvious technique: Renko bricks have the same size. That's all. Not a cutting-edge maths.
This tool allows to identify:
ATR Renko charts (see ^)
Traditional Renko charts
Here is example for Traditional...
This "Study" project has been created by request and is used in conjunction with the "Strategy" version.
*** EXPERIMENTAL ***
*** USE AT YOUR OWN RISK ***
Indicator based around Renko Bar Chart emulator (ATR) with direction change used to signal buy/sell trades.
I have generally found that setting the strategy ATR resolution to 3-5x that of the...
The Mighty Renko Triggers work very simply. The blue crosses are false breaks and the orange crosses are continuation patterns. If the charts do not look clean like the example here then the indicator should be used on a different instrument or timeframe. Ensure the Renko bar settings have the ATR set to ATR 100 and the source is set to OHLC4. If you are...
This indicator in designed to be used with Renko and other price only bars (ie Kagi, LineBreak, Point&Figure) and shows the number of minutes a bar was open before it was confirmed and printed.
NOTE: It will only work on currencies and symbols that are in the 24/5 market, it does account for weekend market close time but does not account for any Forex market...