Renko Candle X

🔷 Renko Candle X (Close-Based) — Pure Confirmation Renko

Renko Candle X (Close-Based) is a precision-focused Renko indicator designed to eliminate noise, false signals, and premature brick formation. Unlike traditional or wick-based Renko calculations, this indicator builds Renko bricks strictly on candle close price only.

If price touches a Renko level with a wick but does not close beyond it, no brick is formed. This ensures maximum confirmation and disciplined trend structure.

🔹 Key Features
✔ Close-Only Brick Formation

Renko bricks are generated only when the candle closes beyond the defined brick size.
High–low wicks are completely ignored, preventing false or early brick creation.

✔ Fixed Brick Size (Point-Based)

Users define a fixed brick size in points.
Each Renko brick represents a fully confirmed price move, not temporary volatility.

✔ Manual Start Price Control

Renko calculation begins from a user-defined start price, ensuring consistent and repeatable Renko structure across sessions and chart reloads.

✔ Multi-Brick Continuation

When price closes with a move larger than one brick, the indicator can generate multiple Renko bricks within a single candle, replicating true Renko behavior.

✔ 2-Brick Reversal Rule

Trend reversals are confirmed only when price closes at least two bricks in the opposite direction.
This professional-grade rule filters noise and avoids frequent false reversals.

✔ Strict Color Lock System

Brick color changes only after a valid close-based Renko condition is completed.
No flickering, no mid-bar repainting, and no color change from wick movement.

✔ Clean Renko-Style Candles

Candles are plotted using Renko body logic only, without unnecessary wicks, providing a clear and uncluttered trend view.

🔹 Brick Color Logic

🟢 Green Brick — Confirmed Uptrend
🔴 Red Brick — Confirmed Downtrend

Colors change only after full close confirmation.

🔹 Ideal Use Cases

• Rule-based trading systems
• High-confirmation scalping
• Intraday trend following
• Breakout and momentum strategies
• Strategy development without repaint risk

🔹 Important Note

This indicator operates on standard time-based charts, but visually and logically behaves like a true close-based Renko chart.
There is no repainting, no wick-based triggering, and no premature brick formation.

Renko Candle X (Close-Based) delivers disciplined Renko structure, strong trend confirmation, and a noise-free trading environment — built for traders who value precision over speed.