OPEN-SOURCE SCRIPT
ReNKoLiNe - A line on chart mimicking RENKO bricks
DESCRIPTION
RENKOLINE Indicator - mimics RENKO charts on ANY timeframe. It is not absolutely fixed, which is actually an advantage,
because it does not close bricks before the actual close of a candle.
An advantage, if one knows how to play with the "bricksize"
Of course it has a short side of delaying entry in case the direction momentum continues.
CDL is difference between current close and the RenkoLine i.e. distance to Candle(close) to Line(renko). This could provide idea for the deviation between candle close and line value.
It is only a value. I did not find a way to draw it properly.
Someone more experienced could help :)
RENKOLINE Indicator - mimics RENKO charts on ANY timeframe. It is not absolutely fixed, which is actually an advantage,
because it does not close bricks before the actual close of a candle.
An advantage, if one knows how to play with the "bricksize"
Of course it has a short side of delaying entry in case the direction momentum continues.
CDL is difference between current close and the RenkoLine i.e. distance to Candle(close) to Line(renko). This could provide idea for the deviation between candle close and line value.
It is only a value. I did not find a way to draw it properly.
Someone more experienced could help :)
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
إخلاء المسؤولية
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
إخلاء المسؤولية
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.