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...
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...
(reposting as i did a mistake and posted it as ''Idea''and not as ''Script'')
$$$$ ridiculously good $$$$ strategy based on my previously published ''Renko Magic''alerts
- ENTER a trade JUST AFTER 1 renko brick is printed.
- EXIT that trade, and open a new reverse position, just after 1...
A very simple indicator for people using renko Charts.
It shows entry and exit points.
After two moving up blocks = Enter
After two moving down blocks = Exit
That is all, made it so it is a little bit easier.
This strategy lets you plot Renko open and close values, based on your preferred Renko size brick, on normal candle chart. You can use it on any timeframe, define your preferred brick size and trailing stop.
The 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...
This script is only for study purposes. Feel free to use it on your risk.
This is custom script optimized for XBTUSD (Bitmex) to use in a daily time frame with RENKO charts.
- ENTER a trade on BUY signal
- EXIT that trade, and open a new reverse position on SELL signal.
HOW TO USE:
- Add script in favorites using the button on this page
The goal of this indicator is to plot the MACD, 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 MACD is derived from the raw price action of a time-based chart, where the historic and live price is clustered into Renko bricks. The Renko brick production...
The (Al Nami Quantum Blocks v.11) script is based on Renko chart that is based on % move of the selected symbol. This is different from the traditional or ATR based Renko charts..
box size = user selected percentage x current price
Alnami Quantum Blocks Channel is composed of 5 levels that are calculated based on the box size:
2- Green Box High...
This script has been moved to protected from this location
due to mishandling on multiple trading platforms. Since I have proprietary strategies built on this code, it has caused me to make it protected. This is not an Invite Only script anyone can use it, however the source code is no longer...
A radical redesign of our other approaches, RenkoMonster uses deep algorithmic and pattern tracking against standard systems to produce trade logic with the quietest, most actionable, signal-to-noise certainty. Designing around the right parameters brings the best results, and for investment instruments, that means focusing on market-mirroring...
Custom-designed to take advantage of the smoothing signals from Renko charting, Renko Ghost creates client-side ATR calculations to build an overlay of “ghost” Renko blocks which emulate the popular ATR blocks on top of TradingView’s Traditional Renko charts. By combining constant ATR updates with the “trend anticipation” patterning of our other...
The ultimate refinement of last year’s TrendMaster system, TrendMaster Gold takes deep pattern recognition to a new level tracking over 20 indicators triggering seven decision gates to trade in a Renko-smoothed charting environment. Optimized for higher returns over a wider range of instruments (see returns below), you are invited to trial this...
A momentum indicator that shows bulls vs bears strength of renko brick production. The algorithm takes into account rapid brick production within a single time candle and adjust 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...
In essence this Renko trading system is the following:
1. Momentum based entries
2. Trend trading system (small losses, big wins)
3. As well as a trend continuation system
- You MUST have a Pro+ account. Why? Cause Renko NEEDS to run on 1min or 5min chart, nothing larger.
If you don't, the...