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Renko based zigzag:
- mode: can be Traditional or ATR.
- modeValue: can be whole number if you use ATR mode, or floating point number in case of Traditional mode.
- showOverlay: displays basis Renko overlay.
Release Notes:
Update to version 3 - fixes some code that stopped working
Release Notes:
update to V4, added optional resolution to read atr range from a different timeframe.
Comments
It doesn't show the "Traditional" mode? Could you know the reason why?
I'm new to pinescript and can't quite figure it out how to port this to v4
I Kept getting erros like this for bricksize and ropen or rclose: "Value with NA type cannot be assigned to a variable that was defined without type keyword"
So I declared them as Var Float... and from that point stopped getting any errors, nonetheless I can't get the indicator to plot, can you help me?
This is what I've got so far:
mode = input('ATR', options=)
modeValue = input(14.000)
var float bricksize = na
if mode == "ATR"
bricksize := atr(round(modeValue))
if mode == "Traditional"
bricksize := modeValue
showOverlay = input(false)
var float ropen = na
var float propen = nz(ropen)
ropen := close > propen+bricksize or high > propen+bricksize ? propen+bricksize : close < propen-bricksize or low < propen-bricksize ? propen-bricksize : propen
var float rclose = na
rclose := ropen > propen ? ropen-bricksize : ropen < propen ? ropen+bricksize : nz(rclose)
var float direction = na
direction := ropen > propen ? 1 : ropen < propen ? -1 : nz(direction)
rc = direction == 1 ? color.green : direction == -1 ? color.maroon : na
p00 = plot(not showOverlay ? na : ropen, style=plot.style_cross, color=rc, linewidth=3)
p01 = plot(not showOverlay ? na : rclose, style=plot.style_circles, color=color.gray, linewidth=2)
fill(p00, p01, color=gray, transp=75)
// ||--> ZigZag:
var float extreme = na
prev_extreme = change(direction) != 0 ? ropen : fixnan(extreme)
extreme := direction == 1 and high >= prev_extreme ? high : direction == -1 and low <= prev_extreme ? low : prev_extreme
plot(change(direction) != 0 ? extreme : na)
Also, would be great to set up alerts on Renko reversal points