Renko chart (Obsolete)

[Alexander.Gettinger]

Renko.lua

(4.2 KiB) Downloaded 6818 times

This indicator is obsolete.

I encourage you to Use Renko View instead.

[Checkz]

IS THERE A WAY TO REPLACE THE CANDLESTICKS WITH THE RENKO BARS DISPLAYING THEM ON THE ACTUAL CHART INSTEAD OF BELOW IT?

[Alexander.Gettinger]

Update of Renko chart.
Now, Renko bricks are drawn at source chart.

Download:

Renko2.lua

(4.52 KiB) Downloaded 9032 times

[patick]

Very nice... thank you!


For those of us applying other indicators a Renko chart, keep in mind, you'll need to go to the indicators properties and select Renko:

[patick]

Ok, now that I've been watching the Renko bricks for the past several hours, I see a problem... not sure if there is a permanent solution, but I'll suggest a couple optional workarounds.

The brick widths are exactly the width of whatever TF chart you have the indie running (i.e., m1, m5... etc.). This ties the brick to the time scale at the bottom of the chart, which we know is not an accurate depiction since Renko is price dependent, not time. So, looking at the chart, it looks like you are seeing 3 hours of price action, when in reality, you could be looking at 2 days or more.

If you do not have control of setting the time scale on the chart, I would suggest the following:

1) Use the tool tip to display the actual Renko brick open and close date/time.
2) Add an option of drawing period separators on the chart... every 2, 4, 8 hours... etc., to distinguish not only intra-day PA, but also one day from the next.

[Alexander.Gettinger]

If you do not have control of setting the time scale on the chart, I would suggest the following:

1) Use the tool tip to display the actual Renko brick open and close date/time.
2) Add an option of drawing period separators on the chart... every 2, 4, 8 hours... etc., to distinguish not only intra-day PA, but also one day from the next.

OK. I work on this.

[Alexander.Gettinger]

Renko chart with datetime labels and period separators.

Download:

Renko3.lua

(8.13 KiB) Downloaded 7910 times

[patick]

Testing now... but looks good, Mr. Gettinger.

Thanks!



Now see something.... I attached a Power Point file to highlight.

[whninja]

Better Renko for lua

Here is my matlab version for a better renko chart ... perhaps it helps ...

[Alexander.Gettinger]

Renko3.lua updated.
Fixed error with multiple separators.
Please, download this indicator again.