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Renko Brick Arrows

The 'Renko Brick Arrows' indicator was developed to showcase the traditional renko brick grid pricing on chart.

An alternative to using an offline chart generator for renko grid prices, and a unique charting style to strategize.


Key Features

  • Renko bricks are drawn over the chart without having to generate a new chart.
  • Optional horizontal lines shows where the next arrows are supposed to appear.
  • Both one and two step reversals are available to draw arrows for buy and sell.


      Input Parameters

      • Grid Color = Gainsboro; - Color of the horizontal lines
      • Grid Step = One brick; - One or two step reversal
      • Grid Size = 100; - Point value of renko bricks
      • Grid Width = 1; - Width of the horizontal lines
      • Grid Style = Dot; - Style of the horizontal lines


      Integration

      • This indicator produces 2 buffers Renko Up & Renko Dn with either a price or empty value.


      Improvements

      • Please be sure to leave any ideas, tips and suggestions in the "Reviews" section and they may be included.
      • Improvements to the system could be at any time so we suggest that you possibly backup your copies.



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      Version 4.0 2024.07.20
      Fix from previous
      Version 3.0 2023.09.24
      Theme Colorization Changes
      Input Parameters Changes
      Version 2.0 2023.07.18
      Optimized algorithm for backtesting