OPEN-SOURCE SCRIPT
Renko Status
The indicator tracks dual-timeframe momentum and structural boundaries by requesting real-time traditional Renko data directly from the underlying asset's ticker via ticker.renko.
Dual-Box Engine: Calculates simultaneous data streams for both a Primary Renko Box (default 10.0 points) and a Secondary Renko Box (default 20.0 points) without requiring manual chart context switches.
Live Target Projections: Computes forward expansion targets (upTarget, downTarget) for both brick sizes. It projects live horizontal continuation/flip levels into future chart space (+2 to +8 offset for primary; +10 to +16 offset for secondary) to visually map higher-timeframe breakout boundaries before price hits them.
Recently Closed Range ("Zero Zone"): Generates shaded zero-zone fill areas between the previous brick's open and close levels, locking in confirmed structural support and resistance ranges directly on your execution chart.
Brick Change & Streak Tracking: Evaluates brick completion logic (ta.change(rkClose) != 0) and maintains a persistent counter (streak) to tally consecutive directional brick closes, measuring directional momentum intensity.
How to Use It in Trading:
Macro Filter & Bias Confirmation: Use the Secondary (20-box) target projections on lower-timeframe execution charts (like the 1m) as a trend-bias check. If the 20-box targets are expanding upward, avoid taking low-probability counter-trend short scalps.
Execution Timing: Use the Primary (10-box) projections to identify immediate micro-expansion triggers and structural flips during active setups.
Pullback / Level Trading: Treat the shaded "Zero Zone" lines as institutional support/resistance shelves. When price retests these dynamic boxes during a pullback, look for price action rejections to confirm entries in the direction of the dominant Renko streak.
Other Indicator Features
Unified Dashboard Table: Real-time price tracking for index ETFs (QQQ, SPY, DIA) positioned cleanly in the bottom-right corner.
Adaptive Moving Averages: Multiple linear regression and SMA curves scaled dynamically to match chart minute settings.
Daily Anchored VWAP (AVWAP): Automated volume-weighted average price line that resets sum calculations at the start of every daily trading session.
Dual-Box Engine: Calculates simultaneous data streams for both a Primary Renko Box (default 10.0 points) and a Secondary Renko Box (default 20.0 points) without requiring manual chart context switches.
Live Target Projections: Computes forward expansion targets (upTarget, downTarget) for both brick sizes. It projects live horizontal continuation/flip levels into future chart space (+2 to +8 offset for primary; +10 to +16 offset for secondary) to visually map higher-timeframe breakout boundaries before price hits them.
Recently Closed Range ("Zero Zone"): Generates shaded zero-zone fill areas between the previous brick's open and close levels, locking in confirmed structural support and resistance ranges directly on your execution chart.
Brick Change & Streak Tracking: Evaluates brick completion logic (ta.change(rkClose) != 0) and maintains a persistent counter (streak) to tally consecutive directional brick closes, measuring directional momentum intensity.
How to Use It in Trading:
Macro Filter & Bias Confirmation: Use the Secondary (20-box) target projections on lower-timeframe execution charts (like the 1m) as a trend-bias check. If the 20-box targets are expanding upward, avoid taking low-probability counter-trend short scalps.
Execution Timing: Use the Primary (10-box) projections to identify immediate micro-expansion triggers and structural flips during active setups.
Pullback / Level Trading: Treat the shaded "Zero Zone" lines as institutional support/resistance shelves. When price retests these dynamic boxes during a pullback, look for price action rejections to confirm entries in the direction of the dominant Renko streak.
Other Indicator Features
Unified Dashboard Table: Real-time price tracking for index ETFs (QQQ, SPY, DIA) positioned cleanly in the bottom-right corner.
Adaptive Moving Averages: Multiple linear regression and SMA curves scaled dynamically to match chart minute settings.
Daily Anchored VWAP (AVWAP): Automated volume-weighted average price line that resets sum calculations at the start of every daily trading session.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.