Tested on Daily but can work with lower frames using Renko Size and T3 Length adjustments.
== Description ==
Strategy get Renko close/open/high/low values and smooth them with T3 Tilson.
Base on these results the strategy triggers a long and short orders, where green uptrending and red downtrending.
== Repaint ==
There seems to be some sort of inconsistency when doing 'Replay' function with the strategy, which means using Replay function won't trade like if you see the trading results without Replay. Regarding real time, it does not seem to repaint, besides that you need to wait for the last active bar to complete for it to give you indication.
You can disable strategy to use it has a sole indicator.
There might be a new strategy of Renko Strategy V2 in the future as i have an in progress prototype, Follow to get updated:
Note, trend line is only confirmed after candle close since renko needs the next bar's open.
As more things arise will update accordingly.
NOTE: I didn't do enough tests to confirm 100% that repatining is not happening, so be aware to that, it might still happen.
Renko Explained: https://www.investopedia.com/terms/r/renkochart.asp
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.
Pivot Points Algo Indicator: https://www.tradingview.com/script/LFBaHNuA-Pivot-Points-Algo/