FritzHaber

Renko Reversal Zigzag Strategy

Based on my "Renko Reversal Alert".
Will open a long trade and close all short trades, if there is a bullish renko reversal.
Will open a short trade and close all long trades, if there is a bearish renko reversal.
סקריפט קוד פתוח

ברוח TradingView אמיתית, מחבר סקריפט זה פרסם אותו עם קוד פתוח, כך שסוחרים יוכלו להבין ולאמת זאת. הידד למחבר! אתה יכול להשתמש בו בחינם, אך שימוש חוזר בקוד זה בפרסום הנו בכפוף ל כללי הבית . אתה יכול להגדירו כמועדף ולהשתמש בו בגרף.

רוצה להשתמש בסקריפ זה בגרף?

תגובות

Thank you very much for making this! I have been playing around with it quite a bit today, and I have a quick question: it seems to me when backtesting this strategy that the price at which "reversal" occurs (the switch from long to short or short to long) is the *opening* price of the first new renko reversal brick (whether red or green). However shouldn't the price at which reversal occurs be the the *closing* price of the first new brick (since you cannot confirm that a renko reversal has really taken place until the brick has actually printed)? Thanks again!
+9 השב
Comment out these command lines if you want to decrease the mess on the screen:
plotshape(long, location=location.belowbar, color=lime, style=shape.arrowup, text="Buy")
plotshape(short, location=location.abovebar, color=red, style=shape.arrowdown, text="Sell")
+2 השב
Please be aware that the Renko chart and its plotted indicators and strategy entries/exits behave differently from those plotted on normal candles. Which make backtest results look (way) more positive then when used in real-time. In real-time the indicators and entries/exits on the Renko chart are plotted when a set of bricks are plotted (when the real-time candle of the used timeframe closes). At that moment the calculation runs and the indicator will be plotted a few bricks back (so useless to make trades on that signal as the actual price has moved away already). It gets worse with strategy alert on entries/exits of a strategy on a Renko chart. They'll arrive a closing candle later (when the broker emulator actually has printed the entry/exit, which is usually at the next tick of a new bar, which is in this case when the next set of bricks is plotted). But anyway, it's really cool to play with. Try 100% equity for order size with this (for the fun of it). By the way another remark on the shown results, trades 1 till around 1400 aren't backed up by actual candle data for that timeframe which on its own gives unrealistic more positive results. Same issues apply to all the synthetic charts (Renko, PnF and so on). TV warns you for this when you apply a strategy on these charts. If you really want to trade on Renko bricks, I advise you to try and use (non-repainting) Renko indicators from the community.
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I tried to use the strategy and add an alert but it wont open alert for some reason the way you had it. Any hidden switches i need to Enable/Disable! Thanks i advance
Note: I have Pro trading account so i should be ok
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What is the brick size for this renko ....and is there any way to chance it according to us..thank you
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