Renko Bar Time by JustUncleL — Indicator by JustUncleL

trendanalysis consolidation renko accelaration time

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 holiday close times.

HINTS:

When the BAR TIME is long and the Renko Bricks have wicks, this is an indication of consolidation.
When the BAR TIME is short and the Renko Bricks have no wicks, this is an indication of acceleration.

JustUncleL

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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