Wyszukaj w skryptach "renko"
Renko 2-block entry, 1-block exit (signals EVERY block)Renko 2-block entry, 1-block exit (signals EVERY block)
Renko Momentum IndicatorRenko is a technique of measuring price without time.
Since time is removed, all we're focusing on is trends/price direction without the noise.
This indicator is meant to serve as an oscillator for trend with alerts for buy and sell.
Playing the FTX Moon/Doom, configure your settings as follows:
Traditional
Price * 10%. This gives longer scalps.
Price * 1%. This gives quick plays.
Wait for the indicator to print a buy signal. If it's beyond OB/OS, wait for the EMAs to start moving back into range. Buy on the breakout of this.
I'll potentially add an alert for this in the future.
I recommend forward testing this until you understand it.
Renko Supertrend-Renko bricks filter out the noise of candles, giving a clear trend
-Uses HullMA for confluence. HullMA is an adaptive moving average with minimal latency
-Autoview support for full automated trade execution
-Works incredible at capturing big trending moves, not so great in ranges/consolidation
RenkoIndicatorIntroduction:
The Renko Indicator is a powerful tool designed to help traders identify trends and potential trade opportunities in the financial markets. This indicator overlays a Renko chart on the main price chart and generates Buy and Sell signals based on Renko brick movements. Renko charts are unique in that they focus solely on price movements, ignoring the element of time. In this guide, we will walk you through how to use the Renko Indicator effectively in your trading strategy.
Indicator Components:
The Renko Indicator consists of several components, each serving a specific purpose in aiding your trading decisions.
Market Sentiment Calculation:
At the top of the script, the indicator calculates market sentiment by analyzing recent price action. It determines whether the market sentiment is Bullish, Bearish, or Neutral based on the highest and lowest prices within specific time periods. This information provides you with a broader context for potential trading decisions.
Renko Chart Creation:
The indicator creates a Renko chart overlay on the main price chart using the Average True Range (ATR) method. ATR is used to calculate the brick size for the Renko chart, allowing you to adjust the sensitivity of the chart to price movements.
Renko Open and Close Midpoint:
The script plots the midpoint of Renko open and close prices as a line on the main chart. This visualization helps you understand the direction of Renko bricks and identify trends.
Buy and Sell Signal Generation:
The script generates Buy and Sell signals as label shapes on the chart. A Buy signal is generated when the Renko close price crosses above the Renko open price, indicating potential upward momentum. Conversely, a Sell signal is generated when the Renko close price crosses below the Renko open price, suggesting potential downward momentum.
Alert Conditions:
To ensure you never miss a trading opportunity, the script sets up alert conditions for Buy and Sell signals. These alerts notify you when the specified conditions for potential trades are met. Alerts can be customized to your preference, allowing you to receive notifications via your chosen communication channels.
How to Use the Renko Indicator:
Market Sentiment Analysis:
Start by analyzing the calculated market sentiment. This information helps you understand the broader trend in the market. A Bullish sentiment indicates potential upward movement, a Bearish sentiment suggests potential downward movement, and a Neutral sentiment signals uncertainty.
Renko Chart Interpretation:
Observe the Renko chart overlay and its midpoint line. Upward-trending Renko bricks suggest Bullish momentum, while downward-trending bricks indicate Bearish momentum. Use the Renko chart to identify trends and confirm your trading bias.
Buy and Sell Signals:
Pay close attention to the Buy and Sell signals generated by the indicator. A Buy signal occurs when the Renko close price crosses above the Renko open price. Conversely, a Sell signal occurs when the Renko close price crosses below the Renko open price. These signals highlight potential entry points for trades.
Alert Notifications:
Make use of the alert conditions to receive real-time notifications for Buy and Sell signals. Alerts help you stay informed even when you're not actively watching the charts, allowing you to promptly take action on potential trade opportunities.
Risk Management and Considerations:
Confirmation: While the Renko Indicator provides valuable insights, it's crucial to use it in conjunction with other technical and fundamental analysis tools for confirmation.
Backtesting: Before implementing the indicator in live trading, conduct thorough backtesting on historical data to assess its performance and suitability for your trading strategy.
Position Sizing: Determine appropriate position sizes based on your risk tolerance and the signals provided by the indicator. Avoid overleveraging your trades.
Market Conditions: Be mindful of market conditions and news events that could impact price movements. Use the Renko Indicator as a tool to enhance your decision-making process, not as a standalone strategy.
Conclusion:
The Renko Indicator offers a unique perspective on price movements and can be a valuable addition to your trading toolkit. By analyzing market sentiment, interpreting Renko chart patterns, and acting on Buy and Sell signals, you can make informed trading decisions. Remember to practice proper risk management and integrate the Renko Indicator into a comprehensive trading strategy to achieve consistent and successful trading outcomes.
Renko Live Price Simulation-AYNETHow It Works:
Inputs:
Box Size (box_size): The size of a Renko brick (in price units).
Candle and Wick Colors: Users can customize colors for up and down candles and toggle wicks on or off.
Logic:
The script tracks the renko_open, renko_close, renko_high, and renko_low variables to simulate the formation of Renko bricks.
A new Renko brick is formed when the price moves up or down by the specified box size.
Candle Plotting:
The plotcandle function is used to draw the simulated Renko bricks on the chart.
Wicks are optional and controlled via the show_wicks input.
Visual Guides:
Two lines represent the thresholds for forming the next up or down Renko brick.
Features:
Real-Time Updates:
Bricks dynamically update as the live price moves.
Customizable Parameters:
Box size, candle colors, and wicks can be tailored to user preferences.
Overlay on Regular Chart:
The Renko simulation overlays the existing candlestick chart, providing context for real-time price action.
Threshold Levels:
Visual guides show how far the current price is from forming the next Renko brick.
Usage Instructions:
Copy and paste the script into the Pine Script editor in TradingView.
Customize the box size and colors to your preference.
Apply the indicator to your chart to visualize the Renko simulation in real time.
Applications:
Trend Analysis:
Renko bricks simplify price trends by filtering out minor fluctuations.
Entry/Exit Points:
Use Renko bricks as potential trade triggers when new bricks form.
Volatility Visualization:
The frequency of brick formation reflects the asset's volatility.
This code provides a live Renko simulation overlay that can be further customized based on user needs. Let me know if you'd like additional features, such as alerts or enhanced visualizations! 😊
ReNKoLiNe - A line on chart mimicking RENKO bricks DESCRIPTION
RENKOLINE Indicator - mimics RENKO charts on ANY timeframe. It is not absolutely fixed, which is actually an advantage,
because it does not close bricks before the actual close of a candle.
An advantage, if one knows how to play with the "bricksize"
Of course it has a short side of delaying entry in case the direction momentum continues.
CDL is difference between current close and the RenkoLine i.e. distance to Candle(close) to Line(renko). This could provide idea for the deviation between candle close and line value.
It is only a value. I did not find a way to draw it properly.
Someone more experienced could help :)
Renko Multi GridMeant as a huge improvement over the old Renko Confidence indicator.
The bars on the grid represent the different parts of the market's attitude. If many of them line up, you can expect a strong trend. If there's a lot of changing or an even spread, you can expect to see a lot of uncertainty.
This is intended for 1 minute renkos, and while not useless on larger renkos, it is not as useful.
Renko Scalp ScannerThis scanner is optimized for short term bursts for Renko.
DESCRIPTION: This indicator scans the 7 major forex pairs (EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, USDCAD, NZDUSD) on 1-pip Renko charts. It ranks them from BEST (#1, top row) to WORST (#7, bottom row) based on a predictive score (0-100) that combines LIVE momentum (current run length, whipsaws, brick timing) + 24-HOUR HISTORICAL consistency (clean long runs, stability).
Higher score = longer, cleaner, more predictable runs ahead (backtested 74% hit rate for 5+ brick continuations).
HOW TO USE THE TABLE:
1. Add to a 1-second Renko chart (Traditional, Box Size: 0.0001 for non-JPY; 0.01 for JPY pairs).
2. RANK: Position 1–7 (green highlight on #1 = switch to this pair NOW).
3. PAIR: Symbol + direction arrow (↑=buy bias, ↓=sell bias).
4. SCORE: 0–100 total (≥85=monster run; ≥75=strong; ≥60=decent; <60=avoid).
5. RUN │ HIST% │ SEC: Current live run length │ % of 24h runs that were clean 8+ bricks │ Live avg seconds per brick (ideal 5–12s).
6. Trade the #1 pair in the arrow direction until whipsaw or score drops <75. Set alerts for score ≥83.
Backtested on 1-year data: Catches 84% of 10+ brick runners. Refreshes every second.
RenkoLevel %R High-Low alertThis script is adding Renko idea to %R
I trade forex so the right side is displayed by Currency pips. Feel free to change it.
The chart is not repainted.
Default:
- 120-hour bar chart (one week)
- 20% of HL(highest - lowest) price changes will affect renko color change
Renko ATR Trend + SMA Indicator by YCGH Capital🧭 Overview
The Renko ATR Trend + SMA Indicator is a trend-following tool designed for chart trading.
It combines Renko-style price movement logic (based on ATR) with a Simple Moving Average (SMA) filter to identify sustained bullish or bearish phases on any timeframe.
It plots a color-coded trend line directly on the price chart — green for bullish trends, red for bearish — and maintains a single active state (no repeated buy/sell signals) until the opposite condition appears.
⚙️ How It Works
1️⃣ Renko ATR Engine
Instead of using fixed box sizes like classic Renko charts, this indicator builds synthetic Renko movement based on ATR (Average True Range) of a chosen timeframe.
It pulls OHLC data from your selected Renko Source Timeframe (for example, 60-minute candles).
It calculates an ATR brick size — representing the minimum price move needed for a new Renko brick.
When price moves by at least one ATR in the opposite direction, it flips the trend.
This filters out small fluctuations and captures the underlying directional bias.
2️⃣ SMA Filter
A Simple Moving Average (SMA) acts as a trend confirmation filter.
Only when Renko direction aligns with the price relative to the SMA, a trend signal activates.
BUY → Renko uptrend + price above SMA
SELL → Renko downtrend + price below SMA
3️⃣ Stateful Signal Logic
Unlike typical indicators that spam multiple buy/sell shapes:
This version holds one persistent signal (Buy or Sell)
The state continues until an opposite signal is confirmed
No “continuation” arrows — clean and minimal trend visualization
🎨 Visuals
Element Meaning
🟩 Green Renko Line Active Bullish Trend
🟥 Red Renko Line Active Bearish Trend
⚪ Gray Line Neutral / Waiting phase
🟡 Yellow Line SMA (trend filter)
📍 Label (Buy Active / Sell Active) Displays the current market bias
🔧 Inputs
Input Description
Renko Source Timeframe The timeframe from which Renko data is calculated (e.g., 60 = 1h candles).
ATR Period Determines brick size sensitivity (lower = more responsive, higher = smoother).
SMA Length Moving Average length used as a directional filter.
💡 How Traders Use It
Trend Confirmation:
Use green/red Renko line to stay aligned with the dominant market move.
Entry Timing:
Enter trades when a new Renko direction is confirmed along with SMA alignment.
Exit or Reverse:
Exit long when a red line (Sell Active) appears, and vice versa.
Combine with Price Action:
Add support/resistance or volume analysis for confirmation.
Renko BandsThis is renko without the candles, just the endpoint plotted as a line with bands around it that represent the brick size. The idea came from thinking about what renko actually gives you once you strip away the visual brick format. At its core, renko is a filtered price series that only updates when price moves a fixed amount, which means it's inherently a trend-following mechanism with built-in noise reduction. By plotting just the renko price level and surrounding it with bands at the brick threshold distances, you get something that works like regular volatility bands while still behaving as a trend indicator.
The center line is the current renko price, which trails actual price based on whichever brick sizing method you've selected. When price moves enough to complete a brick in the renko calculation, the center line jumps to the new brick level. The bands sit at plus and minus one brick size from that center line, showing you exactly how far price needs to move before the next brick would form. This makes the bands function as dynamic breakout levels. When price touches or crosses a band, you know a new renko brick is forming and the trend calculation is updating.
What makes this cool is the dual-purpose nature. You can use it like traditional volatility bands where the outer edges represent boundaries of normal price movement, and breaks beyond those boundaries signal potential trend continuation or exhaustion. But because the underlying calculation is renko rather than standard deviation or ATR around a moving average, the bands also give you direct insight into trend state. When the center line is rising consistently and price stays near the upper band, you're in a clean uptrend. When it's falling and price hugs the lower band, downtrend. When the center line is flat and price is bouncing between both bands, you're ranging.
The three brick sizing methods work the same way as standard renko implementations. Traditional sizing uses a fixed price range, so your bands are always the same absolute distance from the center line. ATR-based sizing calculates brick range from historical volatility, which makes the bands expand and contract based on the ATR measurement you chose at startup. Percentage-based sizing scales the brick size with price level, so the bands naturally widen as price increases and narrow as it decreases. This automatic scaling is particularly useful for instruments that move proportionally rather than in fixed increments.
The visual simplicity compared to full renko bricks makes this more practical for overlay use on your main chart. Instead of trying to read brick patterns in a separate pane or cluttering your price chart with boxes and lines, you get a single smoothed line with two bands that convey the same information about trend state and momentum. The center line shows you the filtered trend direction, the bands show you the threshold levels, and the relationship between price and the bands tells you whether the current move has legs or is stalling out.
From a trend-following perspective, the renko line naturally stays flat during consolidation and only moves when directional momentum is strong enough to complete bricks. This built-in filter removes a lot of the whipsaw that affects moving averages during choppy periods. Traditional moving averages continue updating with every bar regardless of whether meaningful directional movement is happening, which leads to false signals when price is just oscillating. The renko line only responds to sustained moves that meet the brick size threshold, so it tends to stay quiet when price is going nowhere and only signals when something is actually happening.
The bands also serve as natural stop-loss or profit-target references since they represent the distance price needs to move before the trend calculation changes. If you're long and the renko line is rising, you might place stops below the lower band on the theory that if price falls far enough to reverse the renko trend, your thesis is probably invalidated. Conversely, the upper band can mark levels where you'd expect the current brick to complete and potentially see some consolidation or pullback before the next brick forms.
What this really highlights is that renko's value isn't just in the brick visualization, it's in the underlying filtering mechanism. By extracting that mechanism and presenting it in a more traditional band format, you get access to renko's trend-following properties without needing to commit to the brick chart aesthetic or deal with the complications of overlaying brick drawings on a time-based chart. It's renko after all, so you get the trend filtering and directional clarity that makes renko useful, but packaged in a way that integrates more naturally with standard technical analysis workflows.
Renko Dynamic IndexThe goal of this indicator is to plot the Dynamic Index, Signal, and Histogram values "as if" the chart is a true price action based Renko chart. It can be used on a time series chart or Renko series chart. The Dynamic Index is derived from the raw price action of a time-based chart, where the historic and live price values are clustered into Renko bricks. The Renko brick production algorithm is entirely backed by Renko Overlay Ribbon and thoroughly tested. The Dynamic Index gets its inspiration from the Commodity Channel Index.
The algorithm takes into account rapid brick production within a single time candle and adjusts accordingly. The output may vary slightly between different chart time frames for the same indicator settings, but this is due to the lack of price fluctuation visibility that can occur in higher chart time frames. If the brick tick size is low, an appropriate chart interval should be selected that maximizes the amount of price volatility visible to the indicator. A bad setting would be something like a 1 tick EURUSD Renko setting on an H4 or Day chart, there simply is no way to derive the exact and ordered price fluctuations in a single candle, 1 pip at a time. A more appropriate chart time frame would be 1-5 minutes for this selected Renko brick size.
Please find the following video introduction helpful for this indicator and the Renko Dynamic Index Zones indicator:
If you are interested in the RSI-RENKO DIVINE™ Strategy please have a look here:
Contact me in Trading View or telegram for more information and access instructions.
Renko Emulator Strategy # 🚀 Renko Emulator Strategy for Normal Candlestick Charts
Transform your trading with this advanced Renko-based strategy that works seamlessly on normal candlestick charts!
## ✨ What Makes This Special?
### 🎯 Smart Signal System
- **One Signal at a Time**: No confusing duplicate signals
- **Position State Tracking**: Always know your current position
- **Automatic Target Detection**: T1, T2, T3 calculated automatically
- **10 Comprehensive Alerts**: Never miss an opportunity
### 🔧 Technical Excellence
- **Renko Logic**: Filters market noise using brick formations
- **ATR-Based Sizing**: Adapts to market volatility
- **Multi-Indicator Confirmation**: EMA, RSI, MACD, Supertrend
- **Volume Validation**: Only high-probability setups
## 📊 How It Works
### Entry Signals
🟢 **LONG (BUY)**
- Reversal: Red bricks → First green brick
- Trend: 3+ consecutive green bricks
- With full technical confirmation
🔴 **SHORT (SELL)**
- Reversal: Green bricks → First red brick
- Trend: 3+ consecutive red bricks
- With full technical confirmation
### Position Management
📍 **Stop Loss**: Last opposite brick ± buffer
🎯 **Target 1**: 2× Brick size → Book 50%
🎯 **Target 2**: 3× Brick size → Book 30%
🎯 **Target 3**: 4× Brick size → Book 20%
### Exit Rules
⚠️ Opposite brick formation
⚠️ RSI extremes (>80 or <20)
⚠️ Manual exit as needed
## 🎨 Visual Features
### On Your Chart
- 📊 Renko brick overlays
- 🟢 Green triangles = BUY signals
- 🔴 Red triangles = SELL signals
- ⚪ Target hit markers (T1, T2, T3)
- 📈 Trend indicators overlay
- 🎨 Position background color
### Info Panel
Real-time dashboard showing:
- Current brick size & color
- Position status (LONG/SHORT/NONE)
- Consecutive brick count
- RSI level
- Trend direction
- Market conditions
## 🔔 Complete Alert System
**10 Alerts Available:**
✅ Long & Short Entry
✅ All 6 Target Hits (T1, T2, T3 each)
✅ Long & Short Exit
**Alert Messages Include:**
- Entry price & direction
- Profit booking instructions
- Risk management tips
- Next action guidance
## 💰 Best Instruments
### Highly Effective On:
- **Indian Markets**: Nifty 50, Bank Nifty
- **Stocks**: HDFC, Reliance, TCS, Infosys
- **Forex**: EUR/USD, GBP/USD, USD/JPY
- **Crypto**: BTC, ETH, major altcoins
- **Commodities**: Gold, Silver, Crude Oil
### Recommended Timeframes:
- **Day Trading**: 5-min, 15-min
- **Swing Trading**: 1-hour, 4-hour
- **Position Trading**: Daily
## ⚙️ Customizable Settings
### Brick Configuration
- ATR-based (automatic) or Fixed points
- Adjustable ATR period & multiplier
- Visual brick display on/off
### Indicator Parameters
- EMA length (default: 20)
- RSI period (default: 14)
- MACD settings (12, 26, 9)
- Supertrend (10, 3)
- Volume filter toggle
### Display Options
- Show/hide entry signals
- Show/hide target levels
- Show/hide info table
- Brick overlay transparency
## 📈 Usage Strategy
### For Beginners:
1. Add to chart with default settings
2. Wait for clear BUY/SELL arrows
3. Follow position management rules
4. Use recommended stop losses
5. Book profits at targets
### For Advanced Traders:
1. Optimize brick size per instrument
2. Fine-tune indicator parameters
3. Combine with your strategy
4. Backtest thoroughly
5. Scale position sizes
## ⚠️ Risk Management
### Built-in Protection:
- Maximum 2% risk per trade
- Clear stop loss levels
- Defined profit targets
- Position size calculator
- Daily loss limits
### Best Practices:
✅ Test on demo first
✅ Use proper position sizing
✅ Follow stop losses strictly
✅ Don't over-trade
✅ Maintain trading journal
## 🎓 What You Get
### Immediate Benefits:
- Clear entry/exit signals
- No analysis paralysis
- Reduced emotional trading
- Systematic approach
- Professional risk management
### Learning Opportunities:
- Understand Renko concepts
- Master position management
- Learn risk control
- Develop discipline
- Build consistent strategy
## 🐛 Troubleshooting
### No Signals?
- Check indicator settings
- Verify brick size not too large
- Ensure volume filter appropriate
- Try different timeframe
### Too Many Signals?
- Increase brick size
- Use higher timeframe
- Enable stricter filters
- Check signal filtering active
## 📊 Performance Notes
### Works Best In:
✅ Trending markets
✅ Clear directional moves
✅ Good liquidity
✅ Normal volatility
### Avoid Trading:
❌ Major news events
❌ Low volume periods
❌ Extreme volatility
❌ Choppy/sideways markets
## 🔄 Updates & Support
**Current Version**: 2.0
**Recent Updates:**
- ✅ Fixed duplicate signals
- ✅ Added position tracking
- ✅ Enhanced alert system
- ✅ Improved visual feedback
- ✅ Better target detection
**Future Plans:**
- Additional customization
- More alert options
- Advanced features
- Performance improvements
## 📜 Important Disclaimer
⚠️ **Please Read Carefully:**
This indicator is for **educational purposes only**. Trading involves substantial risk of loss. Past performance does not guarantee future results.
**You Must:**
- Use proper risk management
- Test strategies before live trading
- Never risk more than you can afford to lose
- Consult financial advisor if needed
- Understand your trading instrument
**The creator assumes no responsibility for trading losses incurred using this indicator.**
## 🙏 Credits
- Renko Concept: Traditional Japanese charting
- ATR Calculation: J. Welles Wilder
- Community Feedback: Beta testers & users
---
## 💬 Feedback Welcome!
If you find this helpful:
- ⭐ Like the indicator
- 💬 Share your feedback
- 🐛 Report bugs
- 💡 Suggest improvements
- 🔄 Share with traders
## 📞 Getting Started
1. **Add to Chart**: Click "Add to Chart"
2. **Configure Settings**: Adjust as needed
3. **Set Alerts**: Enable notifications
4. **Test First**: Use demo account
5. **Go Live**: Start small, scale up
---
**Happy Trading! 📈🚀**
**Trade Smart. Trade Safe. Trade Profitable.**
---
*Remember: Discipline + Risk Management + Good Strategy = Success*
*No indicator is perfect. Use as part of complete trading plan.*
Renko SR VolumeDaily ATR Renko SR Levels with Volume Analysis is a technical indicator that combines Renko-based support/resistance levels with volume analysis. It dynamically calculates Renko boxes using the ATR (Average True Range) of daily data and identifies key price levels. The indicator:
- Uses daily ATR to determine Renko box size.
- Draws support/resistance levels based on Renko price structure.
- Analyzes volume between levels to assess their strength.
- Colors levels based on relative volume activity:
- Red – strongest level (high volume activity).
- Orange – strong level.
- Yellow – moderate level.
- Green – weakest level (low volume activity).
- Detects daily Renko-based trends.
This tool helps traders visualize key price zones with volume confirmation, improving decision-making in trend and range markets.
Renko + PnF Bias Overlay v6Description:
The Renko + PnF Bias Overlay indicator provides a synthesized directional bias derived from manual implementations of both Renko and Point & Figure charting methodologies applied to standard time-based price data.
The indicator calculates Renko brick movements based on ATR-derived brick sizes, creating a noise-filtered representation that only registers significant price movements exceeding the specified brick size threshold. Renko direction changes occur only when price moves a full brick size beyond the previous brick.
Simultaneously, the indicator implements Point & Figure box counting logic with reversal requirements, where directional changes require a minimum of three boxes in the opposite direction, providing additional filtering of minor price fluctuations.
By combining these two price transformation methodologies, the indicator generates a composite directional bias that emphasizes sustained price movements while filtering out minor fluctuations and noise. The resulting bias reflects the underlying trend direction as determined by both the brick-based momentum filtering of Renko charts and the reversal confirmation requirements of Point & Figure charting.
This approach provides a robust trend-following signal that requires both significant price displacement and sustained directional commitment before registering a change in bias.
Renko NotificationAllows for setting of an alert, when a renko trend changes- i.e. when a green brick is formed and closes after a series of one or more red bricks and vice versa.
To set alert for green brick choose:
Green
Greater than
Red
To set alert for red brick choose:
Red
Greater than
Green
It works on any timeframe and renko settings.
However please note, that the alert set will be bound to the Renko settings that were present when the alert was set.
For instance: If traditional Renko was chosen with a setting of 10, then the alert will always carry that setting. This means that even if settings are changed on the chart afterwards, the alert will not reflect those new settings. In that case a new alert needs to be created, that will then contain the new settings.
This is important to keep in mind when using Renko ATR settings.
Trend Finder - Buy/Sell (Anuj Edition)Renko Trend Finder – Anuj Edition is a powerful trend-following tool designed to detect market direction using Renko logic instead of traditional candlesticks.
Renko filtering removes market noise, making trends clearer and reversals easier to identify.
This indicator internally builds Renko-style price movement and generates clean, high-quality Buy and Sell signals without repainting.
Renko Compression Index (RCI)Renko Compression Index
The Renko Compression Index (RCI) is a unique market structure indicator designed to detect price compression zones on Renko-based charts. It measures the frequency of directional changes in Renko bricks over a specific period, identifying moments of trend indecision or consolidation that may precede major breakouts.
Renko Momentum Wave (RMW)Renko Momentum Wave
The Renko Momentum Wave (RMW) is a custom momentum oscillator specifically designed for Renko-based price action analysis. Unlike traditional oscillators that rely on time-based data, the RMW focuses on the directional consistency of Renko bricks, measuring the strength of trend momentum purely based on price movement.
Renko Confidence [Public]This is identical to my old Renko Confidence indicator, but this is a public release for anyone to enjoy since it has been deprecrated and replaced with Renko Multi Grid .
