OPEN-SOURCE SCRIPT
Renko chart
This script displays the renko chart of the candlesticks chart
The color of the chart is green (red) if the trend is up (down).
The following settings are available:
Renko parameters:
Timeframe parameters:
Alerts are also provided, to catch these conditions:
The color of the chart is green (red) if the trend is up (down).
The following settings are available:
Renko parameters:
- Style = Box Size Assignment Method: 'ATR', 'Traditional'.
- Parameter = ATR Length if `Style` is equal to 'ATR', or Box Size if `style` is equal to 'Traditional'.
Timeframe parameters:
- Period = Resolution, e.g. 'm' - minutes, 'D' - daily, 'W' - weekly, 'M' - monthly, or same as chart
- Multiplier = Multiplier of resolution, e.g. '60' - 60m if Period is 'm'
Alerts are also provided, to catch these conditions:
- trend change = up to down or viceversa
- bullish reversal = down to up
- bearish reversal = up to down
Open-source script
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 publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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