Renko Ichimoku CloudThis script utilizes its source from a non-repainting renko closing price. Renko charts focus solely on price movement and minimize the impacts of time and the extra noise time creates. Employing the renko close helps smooth out the Ichimoku Cloud. Insignificant price movements will not cause a change in the plotted lines of the indicator unless a new threshold is breached or a "brick" is created.
This Ichmoku Cloud includes all standard lines with standard lengths. These include:
Tenken Sen
Kiju Sen
Senkou A/B
Chikou Span
We have also included plotted marks for when there is a Tenken Sen/ Kiju Sen cross and for the Kumo cloud twist.
There are two methods for selecting the box size. Box size is critical for the overall function and efficacy of the plots you will visually see with this indicator. Box size is set automatically using the Average True Range "ATR" or manually using the "Traditional" setting. The simplest way to determine a manual box six is to take the ATR of the given instrument and round it to the nearest decimal place. As an example, if the ATR for the asset is 0.017, you would round that number to 0.02 and utilize this as your traditional box size.
Renkoindicator
Renko + CandlesThis indicator has been designed to show you both candle chart and Renko chart in one place.
I think most of you are familiar with candle chart which is working with the time and price movements but Renko chart is based on price differences and is not related to the "time" parameter.
so if you see a Renko brick is appear up(or down) to the previous brick it means that a certain and fixed price movement has been occurred (which mostly calculate by ATR). and also this indicator works in any time frame.
Remember because we want both charts we have time parameter in this indicator, and if the price doesn't move up or down a certain percentage from previous bars, it will plot a renko bar beside the previous one.
you can use this indicator to see if the price moves up or down.
Or you can determine the important support and resistances with much less noises.
it can be used as a confirmation for you to keep your positions or exit.
go ahead and discover it...
If you have any questions, don't hesitate! ask in the comments section below.
MTF RenkoThis indicator Should be opened on a 15 min chart
It will display the Renko Highs and lows of:
30 min chart
45 min chart
60 min chart
and
120 min chart
[MACLEN] HODL ZONE RENKO
PLEASE READ!
Trade at your own risk. Please read about renko charts before using this indicator. This indicator is for educational purposes only.
This Indicator is only valid in renko charts with 1 second timeframe. For BTCUSDT . With the traditional method and the size box of 80.
With this indicator we can detect zones of buy and sell. Even that is not recommended to use leverage, I use it to find an entry and use only small leverages. It could be also used to accumulate and HODL bitcoin .
Please, comment anything.
POR FAVOR LEER!
Tradea bajo tu propio riesgo. Por favor lee sobre las graficas renko antes de usar este indicador. Este indicador es solamente con fines educativos.
Este indicador es válido solamente en graficas renko con un timeframe de 1 segundo. Para BTCUSDT . Con cajas del método tradicional de un tamaño de 80.
Con este indicador podemos detectar zonas de compra y venta. A pesar de que no es recomendable usar apalancamiento, yo lo uso para encontrar entradas y solo uso apalancamientos pequeños. También podría usarse para acumular y holdear bitcoin .
Por favor, escríbeme cualquier duda o comentario.
[RESEARCH] Renko Chart IdentifierDespite 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:
It also works correctly with other chart types:
Classic Candles
Heikin-Ashi
Kagi
PnF
Range Bars
Remember @everget !
And pay attention to the license before use)
Renko CandlesticksRenko 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 indicator attempts to do just that.
A band is placed around price action showing the upper and lower bounds of what would be the current renko brick. The band only goes up/down when the price action itself moves up/down by the amount you specify. There are several ways of specifying the amount:
Fixed Price Amount: As the name says, you enter the brick size amount, i.e. the amount the price has to move before being in a new brick.
% of Price: This method will calculate the amount the price has to move as a percentage of the price itself. This way as price goes up/down, your brick size will adjust accordingly. Recommended values would be around 1% or less.
% of ATR: This option will make the brick size a percentage of the Average True Range. You can specify the ATR time frame to be different from your current time frame as well as the ATR length. For instance you could be on a 10 minute chart but specify the ATR to be daily with a length of 3 and a percentage amount of 15. This would make your brick size 15% of the Average True Range for the last 3 days. Recommended values are 10 to 20%.
Use this indicator on any time frame, even the 1 minute as the renko bands span the price action the same way on any time frame easily letting you know whether or not the price has moved appreciably, regardless of how much time has passed.
You can also set alerts easily, simply set the alert to crossing and choose “Renko Candlesticks” instead of “Value”. You will then see the options for the renko upper and lower bounds.
Tested on Bitcoin with the following values:
Fixed Price Amount: 30 ($30)
% of Price: 0.45 (if Bitcoin is $7000 then the brick size would be $31.50)
% of ATR: 15%, ATR Time Frame: 1D, ATR Length: 3 (3 days)
