Mix renko based on mean renko bar view

[robertpire]

Hi!
I tried the mean renko bars view in ticks it works pretty well except the reversal.
This is why I would like if possible an update of this view or an indicator, the simplest for you.

I am enclosing an example of what it should look like, it is not really renko anymore, that is why I called it "mix renko".

some informations for options

-the timeframe is in ticks.
-in reversal, the brick is longer.
-the entries are the same as on the mean renko bars view except reversal (true or false)
-and it will be interesting to be able to change the size of the brick at any time.

can we preload the ticks we will say 24h-48 h at most 1 week to make the indicator or view usable right away?

example of what it should look like

Great thanks

[Apprentice]

Your request is added to the development list.
Development reference 976.

[robertpire]

Hi!

lot of thanks for your job

it's for TS2


thanks

[Apprentice]

I don't understand the logic for the change

[robertpire]

Hi!


I will try to be clearer
at the base it is a traditional renko, we add the reverse to filter the signals and mix to filter it a little more.

in an uptrend, as soon as the price increases by the value of the "step", we create a new brick, so there cannot be a high wick except in the case of a "reversal brick" creation. there can be a wick low depending on the setting of the reversal.

it is exactly the opposite in a downtrend.

For the reversal brick, I explain
you can help yourself with the drawing that i made i added an annotation.

I give the setup for example to be clearer

step: 20 pips
opening price%: 75%
reversal%: 2 * opening price%

In an uptrend,

after an increase of 20 pips a brick is created, the price increases by 10 pips then retraces to the level of opening of the brick (the price has just retraced 75% of the brick or 15 pips, no new brick of created) it continues to descend by 15 pips more, there a brick is created by 30 pips + a high wick of 10 pips, The "reversal brick"
a high wick can be created up to a value lower than 0.1 or 1 pip (to be adapted as best as possible) to the brick step.

it is exactly the opposite in a downtrend


for the closing price levels of the future brick they are calculated with the reversal in opposite trend and in step in the direction of the trend
to be more clear

if the brick is bearish
the blue level corresponds to the closing of the reversal brick (2 * opening price%, with our example this gives 15 pips higher than the opening of the brick)
the red level when a corresponds to the step, that is for our example 20 pips lower than the fence of the brick

if the brick is bullish
the blue level corresponds to the step, that is for our example 20 pips higher than the fence of the brick.
the red level corresponds to the closing of the reversal brick (2 * opening price%, with our example this gives 15 pips lower than the opening of the brick)

I hope it will help you see more clearly.
Thanks

[Apprentice]

Try this version.
viewtopic.php?f=17&t=69634&p=132660#p132660