This is a custom indicator that implements a trading strategy based on Renko charts, but they can be used on regular candlestick charts and on any time frame. Renko charts are known for filtering market noise and displaying price movements in a clearer way. However, it is important to note that this indicator is provided for educational and informational purposes only and is not a guarantee of profitable returns.
Features: - The indicator uses Renko charts to generate buy and sell signals. - Renko bricks are built based on a predefined price variation, rather than time. - The length of the Average True Range (ATR) used to calculate Renko bricks can be customized. - Buy signals are generated when the price crosses below the current Renko brick. - Sell signals are generated when the price crosses above the current Renko brick. - Entry points are marked with "Buy" and "Sell" arrows on the chart.
It is essential to emphasize that no indicator or trading strategy guarantees profitable results. The financial market is complex and subject to unpredictable changes. It is recommended to perform additional tests and analysis before using this indicator on a real trading account.
Always remember to manage your risks properly and consider other factors such as fundamental analysis and market conditions when making trading decisions. The use of this indicator is entirely the user's responsibility.
DISCLAIMER: This indicator is not financial advice and should not be interpreted as such. Always consult with a qualified financial professional before making any investment decisions.
@SomethingAintRight, si que repinta, pruebalo con la reproduccion de barras, una pena
Armo_D
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repaint, don't use it for trade!!!
sentello88
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@Armo_D, does not inherently exhibit repainting behavior, at least in the traditional sense. Repainting typically refers to situations where past signals or indicators change after they have already occurred. In the script you've shared, the buy and sell signals are determined based on the Renko open and close prices at each brick, and these signals are fixed once they occur.
mw8vsf4sd2
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Thank you very much for your open source spirit, after all repainting is fatal, how can we solve this dilemma, can it be effectively avoided if we set it up with each K line closing?
Alguien podria aclarar si repinta de verdad el indicador?, muchas gracias
abdulrahmankj
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repaint
badagayo
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장난합니까? 나중에 마킹되는 속임수 리페인팅으로 사람들을 속입니까? 한가하십니까? 쓰레기 인디케이터. Are you kidding? Do you trick people with trick repaints that get marked later? Are you free? Garbage indicator.