Renko Trend MomentumA 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 higher chart time frames. If the brick tick size is low, an appropriate chart interval should be selected that maximizes the amount of price volatility visible to the indicator.
Plots the normalized rate of new Renko Up Brick production vs new Renko Down Brick production.
Custom crossover threshold to help prevent whipsaws and keep you in the trend.
Shows pending areas when a crossover is imminent.
Custom time-based buffer combined with a crossover to keep you in the trend.
Shows crossover background color changes when the direction of the Renko Trend changes.
Works well with Renko Price Bars Overlay script.
Renko
Stochastic RSI Signal LinesThis script is for private use only. I created it as step 1 for my Renko Trading Strategy.
Tested on BitMex on XBTUSD.
RENKO MTFMultiframe RENKO panes with timeframe-weighted signal line and warning dots. All timeframes in settings MUST be <= your timeframe or it will repains on bigger timeframes.
Renko - RSI MomentumIn 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
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!IMPORTANT!
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- You MUST have a Pro+ account. Why? Cause Renko NEEDS to run on 1min or 5min chart, nothing larger.
If you don't, the chart will repaint .
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CHART SETUP
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1. Set chart to Renko
2. Set period of chart to 1 min (or 5 min)
3. Set Renko box size method to "Traditional"
4. Set Renko box size to:
- JPY Pairs: 0.2 to 0.4
- Other Major/Minors: 0.002 - 0.004
- Exotic pairs: NO IDEA... (I haven't tested them yet)
5. Load the indicator
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RULES
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Trend Entry
An arrow will appear the following conditions are met:
LONG: RSI(7) goes above 55 AND price is above the 50 SMA
SHORT: RSI(7) goes below 45 AND price is below the 50 SMA
Enter immediately after the bar is printed.
Counter Trend Entry
An orange dot appears when the following conditions are met:
LONG: RSI(7) goes above 55 AND price is below the 50 SMA and above the 10 EMA
SHORT: RSI(7) goes below 45 AND price is above the 50 SMA and below the 10 EMA
I would not suggest entering immediately but rather finding a trendline or support/resistance that is being broken.
Exit
- Exit when a white bar is printed
- OR use your own discretion. Like 2 bars in opposite direction or on EMA cross or hit of support/resistance.
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CHART
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- Green bars are when the RSI(7) is above 55.
- Red bars are when the RSI(7) is below 45.
- White bars are when the RSI(7) is between 45and 55.
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Morpheus Renko Chart Overlay by ZekisRenko is very useful in many strategies, but Tradingview does not support original Renko charts, where time is 0 and the single variable is the price action
This script can overlay the normal Candles Chart with Renko bricks and behaves like an original Renko brick formula
This is a simple way of looking at a Renko Chart inside a normal Candles Chart
You need to adjust the value manualy, like in Traditional Renko
If a price goes up by that value, new brick is formed with green color, vice versa for the down side
I filled bricks with red and green for a better view
Added Long and Short signs
Added alerts
(Original script wrote by Richard Santos and modified by Ni6HTH4wK)
Enjoy!
@Zekis
Traderset Uni Renko - Awesome OscillatorThis is simply Bill Williams AO oscillator, fabricated with predefined numbers to better fit the Uni Renko charts and my methodology. The reason for publishing this version is that the original numbers (you can see them on the top instance of the oscillator) does not behave that much satisfactory when it comes to renko charting in my methodology !
The AO is not a part of my methodology nor Alligator, but i know some people who would like to have these two tools in renko charts. Here you have it.
Unit Renko Box SizeThis is a simple script that shows two averages for box size on Uni Renko system for users to use.
The user should use the green line (Box Size) that is more persistent in the last hour. if there are equal minutes between two numbers, use the upper number.
Now users can easily check the timed candle sticks at the start of the day for three time frames we use in my methodology, set the box size for the charts at the start of the day and continue trading the whole day.
The charts now will sit on "traditional" setting rather than previously used "atr", no thanks to trading view's amazingly wrong way of calculating renko !!!!
Trader Set - Moving StopThis the last tool I was working on for quite few weeks now. finally got it working. It's the only tool in my tool set that you can tweak how it looks because you can use three instances to show short length, medium length and long length trailing stops.
These trailing stops also can be used as support / resistance zones if you desire too.
Don't ask for getting access, the English version of the website and learning material is getting ready. The licenses for all of my tools will be available to purchase in the website. I will announce it in the comment sections.
If you are interested in my methodology, you can start joining my telegram channel and read more about it.
t.me
Stochastic RSI Momentum TranformThis is my version of Stochastic RSI, but not the stochastic RSI alone, hell no, it's a lagging indicator, I don't like lagging indicators.
This is a leading indicator that has momentum calculations in it and not only that, it has a momentum shifting calculation based on modified ehler's transformation !
Simple for user, a hell to program !
Price and how to get access to ? contact me in PM !
Trader Set - MTF Reversal Bar SignalsThis is Multi Tile Frame signalling of reversal bar strategy. Using this, you can easily Identify if you had a reversal bar signal in 1,2,3,4,5,10,15, and 30 minute based renko charts.
The more time frames get in sync with each other, the higher possibility for a more powerful signal.
The least you would need is for 1,2 and 3 minutes to have 2 out of 3 of them showing same signal.
Please don't ask for getting access, the licensing will be available for purchase soon in the website and I will announce it in the comment section.
Trader Set - Modified MTF BOTTOMThis is a modified formula for MFT. It's prefabricated with numbers that would work best with my methodology and system.
Please don't ask for getting access. Only my students can get access to these indicators.
Trader Set - Modified RSI TOPThis is a modified RSI formula that draws two different RSI time frames on top of eachother with additional signal points on it.
Please don't ask for getting access. Only my students can have access to these tools because they are part of my methodology and prefabricated with fixed numbers that would work ONLY on my system.
Trader Set - Modified RSI MTFThis is a modified version of RSI MTF, a similar indicator can be found in public library if anyone is interested, mine, is fabricated to work with my methology with all the addition i will add to this (just like others when i added the ability to change the moving types in critical places of formula) so that students can experiment with them (it will come in next version). also, I normalize both sections for better visualization.
Please don't ask me for getting access. "CM Modified RSI MFI" search it for the base and almost similar indicator without my additions. This script will be available only for my students at the time being. like other scripts, if the learning material will be ready i will be announce in comment section, and like others, again, if i decide to sell this separated from courses i will announce in the comment section too.
Trader Set - Fisher CycleUnfortunately, the fihser transform's formula has specifications that are not compatible with newer versions of pine script (calling mutable variables on security function).
So, I had to separate this section of "Cycle" script to it's own little world and remove the versioning from the script.
That, means that i can't even write the name of the oscillator on the right hand side (show_last is not there in older versions).
Welcome to the world of pine script and haphazard updates of trading view without thinking about consequences of their new move !
Trader Set - Uni Renko Bars ExtraThis is the separated script from original Uni Renko script. The main reason for this separation is that Trading View limits the user on plotting stuff to 64 plots, the Uni Renko script was so full that even a single more plot was impossible, so, separation came and now if i want to add any feature to this, it's possible.
Trader Set - Volume MomentumThis is a Momentum indicator but on "Volume" The formula is heavily tweaked version of TSI with chance of using different averaging types, the period numbers are fixed and user don't need to type anything for them!
Please don't contact me for getting access, these tools are available for my students only. These are part of my "methodology" that I teach. The English version of the website and learning material is under development and I will announce it under each related script when they are ready so that those who are interested can participate in the course.
Trader Set - Ergodic MomentumThis is a price momentum indicator that is based on Ergodic formula (TSI), but the formula is tweaked and different types of averaging is allowed. by changing the type of average calculation and some predefined values (totally different from what is suggested by now) we get a nasty indicator that can easily be used both for cycle observation side by side with momentum of the price itself !
Please don't contact me for getting access, these tools are available for my students only. These are part of my "methodology" that I teach. The English version of the website and learning material is under development and I will announce it under each related script when they are ready so that those who are interested can participate in the course.
Aphrodite Renko Up and Down by ZekisA simple renko script with bar and background colored
In this way ups and downs can be seen more easily
Alerts are added for buy/sell, long/short
Possibility to show bricks colours and background colours, according to the market situation
Trader Set - Wave CountThis is a wave counting tool for my methodology with little addition of drawing high low sections of wave reversal as local support / resistance.
Please don't contact me for getting access, these tools are only available for my students. The English version of website and learning materials are under development and soon they will be ready. I will announce it under every script related to my methodology so that you get informed and participate in the course if you want to.
