OPEN-SOURCE SCRIPT

Renko chart

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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:
  • 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

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