// Downloaded From https://www.WiseStockTrader.com // Renko Chart // Graham Kavanagh 13 Aug 2004 ver C // Custom Indicator, date axis does not apply SetBarsRequired(10000,10000); // Brick size is dependant on what you want, if too small will not produce a chart due to insufficient x-axis bars //Brick = LastValue( ATR(100) ); //Brick = LastValue( Max(0.02*C, 0.05) ); Brick = Param( "Brick Size", 0.1, 0.01, 1.00, 0.01 ); reverse = 2; // Convert the closing price to rising and falling rounded bricks CF = ceil(C/Brick); CR = floor(C/Brick); // initialize first element j = 0; RKC[j] = CF[0]; RKO[j] = CF[0] + 1; down[j] = 1; // By default the first bar is a down bar. up[j] = 0; // Loop to produce the Renko values in number of bricks for( i=1; i= RKC[j] + Reverse && down[j] ) // Change down to up { num = CR[i] - RKC[j]; j++; up[j] = 1; down[j] = 0; RKC[j] = RKC[j-1] + 2; RKO[j] = RKC[j] - 1; for( x=2; x<=num; x++ ) { j++; up[j] = 1; down[j] = 0; RKC[j] = RKC[j-1] + 1; RKO[j] = RKC[j] - 1; } } else { if( CR[i] >= RKC[j] + 1 && up[j] ) // Continue Up { num = CR[i] - RKC[j]; for( x=1; x<=num; x++ ) { j++; Up[j] = 1; Down[j] = 0; RKC[j] = RKC[j-1] + 1; RKO[j] = RKC[j] - 1; } } else { if( CF[i] <= RKC[j] - Reverse && up[j] ) // Change up to down { num = RKC[j] - CF[i]; j++; Up[j] = 0; Down[j] = 1; RKC[j] = RKC[j-1] - 2; RKO[j] = RKC[j] + 1; for( x=2; x<=num; x++ ) { j++; up[j] = 0; down[j] = 1; RKC[j] = RKC[j-1] - 1; RKO[j] = RKC[j] + 1; } } } } } } // move the chart to right end of chart space, ie last brick on last bar position delta = BarCount-1 - j; RKC = Ref( RKC, -delta ); RKO = Ref( RKO, -delta ); Up = Ref( Up, -delta ); Down = Ref( Down, -delta ); /* rC = RKC * Brick;// + (Up-down)*Brick/2; rO = RC - (Up-down)*Brick; rH = Max(rC,rO); rL = Min(rC,rO); */ C = RKC * Brick;// + (Up-down)*Brick/2; O = C - (Up-down)*Brick; H = Max(C,O); L = Min(C,O); Plot( C, "", colorGrey50,styleCandle); // plot chart //plotOHLC( rO, rH, rL, rC, "Renko Price " , colorBlack, styleCandle); GraphXSpace=5; Title = Name() + " - {{INTERVAL}} {{DATE}} - Renko Chart : Last Value = " + RKC * Brick + ", Brick Size = " + Brick;