Renko Candles & Trend System (RCTS) allows traders to have a renko chart alongside their main chart.
This is an off-chart version of my previous indicator called "Renko Dots" with an extra component ( ).
A true masterpiece, I'm very proud of it. I put a lot of work into it 😝
RCTS has 3 parameters:
Renko Method - Traditional or ATR. These are 2 different ways to calculate Renko.
Renko Length - Length controls traditional Renko bar's fixed price range or controls the ATR period.
Length - of all Renko values.
Renko can be either green candle ( ), red candle ( ), or dots (neutral).
When Renko is above , go long.
When Renko is below , go short.
Fire icon (🔥) indicates that Renko crossed .
You may change this icon to pretty much any icon you like by copying & pasting any emoji/icon off the internet into the emoji parameter.
Here's a link to save you time: https://getemoji.com/
Or here's a quick list of some icons to copy & paste into the emoji parameter:
Smileys 😄️ 😉 🥰 😝 😎
Gestures 👌 ✌️ 🤟 👍 👊 🙏
Animals 🐱 🦊 🐻 🐼 🐮 🐷
Other 😈 👺 🤡 💀 👽 🤖 🎃 ❤️ 💛 💙
***(This is a hand-picked list I made including only my favorites)
What is a Renko chart?
A Renko chart is a special chart that modifies a regular price chart's information about the close price and transforms it into Renko values that are plotted as Renko boxes on a chart. These boxes typically have a fixed range, say 10 pips for example. Or 1 ATR.
For more information on Renko charts : https://www.investopedia.com/terms/r/ren...
Just for fun, I've included the following features:
- A heart emoji in the short title (💙)
- A heart made out of @s in the script's code
- A nice quote in the script's code
Hit the like button!
Enjoy and happy halloween guys & girls 😉
진정한 TradingView의 정신에 따라, 이 스크립트의 작성자는 스크립트를 오픈소스로 게시했기에 거래자들이 이해하고 확인할 수 있습니다. 작가님께 건배! 스크립트를 무료로 사용할 수 있지만, 게시물에서 이 코드를 재사용하는 것은 하우스룰을 따릅니다. 당신은 스크립트를 차트에 사용하기 위해 그것을 즐겨찾기 할 수 있습니다.