OPEN-SOURCE SCRIPT
Renko Candles & Trend System [racer8]
Brief:
Renko Candles & Trend System (RCTS) allows traders to have a renko chart alongside their main chart.
This is an off-chart version of my previous indicator called "Renko Dots" with an extra component (SMA).
A true masterpiece, I'm very proud of it. I put a lot of work into it 😝
RCTS has 3 parameters:
Renko Method - Traditional or ATR. These are 2 different ways to calculate Renko.
Renko Length - Length controls traditional Renko bar's fixed price range or controls the ATR period.
SMA Length - Simple moving average of all Renko values.
Signals:
Renko can be either green candle (bullish), red candle (bearish), or dots (neutral).
When Renko is above sma, go long.
When Renko is below sma, go short.
Fire icon (🔥) indicates that Renko crossed sma.
You may change this icon to pretty much any icon you like by copying & pasting any emoji/icon off the internet into the emoji parameter.
Here's a link to save you time: getemoji.com/
Or here's a quick list of some icons to copy & paste into the emoji parameter:
Smileys 😄️ 😉 🥰 😝 😎
Gestures 👌 ✌️ 🤟 👍 👊 🙏
Animals 🐱 🦊 🐻 🐼 🐮 🐷
Other 😈 👺 🤡 💀 👽 🤖 🎃 ❤️ 💛 💙
***(This is a hand-picked list I made including only my favorites)
What is a Renko chart?
A Renko chart is a special chart that modifies a regular price chart's information about the close price and transforms it into Renko values that are plotted as Renko boxes on a chart. These boxes typically have a fixed range, say 10 pips for example. Or 1 ATR.
For more information on Renko charts : investopedia.com/terms/r/renkochart.asp
Just for fun, I've included the following features:
- A heart emoji in the short title (💙)
- A heart made out of s in the script's code
- A nice quote in the script's code
Have fun.
Hit the like button!
Stay safe.
Enjoy and happy halloween guys & girls 😉
Renko Candles & Trend System (RCTS) allows traders to have a renko chart alongside their main chart.
This is an off-chart version of my previous indicator called "Renko Dots" with an extra component (SMA).
A true masterpiece, I'm very proud of it. I put a lot of work into it 😝
RCTS has 3 parameters:
Renko Method - Traditional or ATR. These are 2 different ways to calculate Renko.
Renko Length - Length controls traditional Renko bar's fixed price range or controls the ATR period.
SMA Length - Simple moving average of all Renko values.
Signals:
Renko can be either green candle (bullish), red candle (bearish), or dots (neutral).
When Renko is above sma, go long.
When Renko is below sma, go short.
Fire icon (🔥) indicates that Renko crossed sma.
You may change this icon to pretty much any icon you like by copying & pasting any emoji/icon off the internet into the emoji parameter.
Here's a link to save you time: getemoji.com/
Or here's a quick list of some icons to copy & paste into the emoji parameter:
Smileys 😄️ 😉 🥰 😝 😎
Gestures 👌 ✌️ 🤟 👍 👊 🙏
Animals 🐱 🦊 🐻 🐼 🐮 🐷
Other 😈 👺 🤡 💀 👽 🤖 🎃 ❤️ 💛 💙
***(This is a hand-picked list I made including only my favorites)
What is a Renko chart?
A Renko chart is a special chart that modifies a regular price chart's information about the close price and transforms it into Renko values that are plotted as Renko boxes on a chart. These boxes typically have a fixed range, say 10 pips for example. Or 1 ATR.
For more information on Renko charts : investopedia.com/terms/r/renkochart.asp
Just for fun, I've included the following features:
- A heart emoji in the short title (💙)
- A heart made out of s in the script's code
- A nice quote in the script's code
Have fun.
Hit the like button!
Stay safe.
Enjoy and happy halloween guys & girls 😉
סקריפט קוד פתוח
ברוח TradingView אמיתית, מחבר הסקריפט הזה פרסם אותו בקוד פתוח, כך שסוחרים יוכלו להבין ולאמת אותו. כל הכבוד למחבר! אתה יכול להשתמש בו בחינם, אבל השימוש החוזר בקוד זה בפרסום כפוף לכללי הבית. אתה יכול להכניס אותו למועדפים כדי להשתמש בו בגרף.
רוצה להשתמש בסקריפ זה בגרף?
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.