Renko Trend Momentum
- Plots the normalized rate of new Renko Up Brick production vs new Renko Down Brick production.
- Custom crossover threshold to help prevent whipsaws and keep you in the trend.
- Shows pending areas when a crossover is imminent.
- Custom time-based buffer combined with a crossover to keep you in the trend.
- Shows crossover background color changes when the direction of the Renko Trend changes.
- Works well with Renko Price Bars Overlay script.
- Updated volatile brick algorithm. The strategy should perform better when switching to higher timeframes for low tick brick sizes. It is difficult to garner information from a single time candle that can blast through both the upper and lower next brick thresholds. It takes careful design to maximize the accuracy in these cases.
- Renko RSI and Renko Trend Momentum indicators also updated with some neat additions.
- Added capabilities to work on Trading View Renko charts. Updated Renko RSI as well.
- Updated renko chart recognition formulas.
- Fixed issue with pending area when price action is very volatile.
- Added alerts for: Trend change up/down, change to pending flip, volatile brick creation.
- Fixed display bugs.
- Updated to Pinescript version 4.
- Added toggle to show Renko brick production rate (Bricks / Hour).
- Added toggle to use volume weighting (elastic) to each renko brick (and nested bricks).
- Added member features.
- Updated copyright.
- Updated member features.
- Added member features.
- Updated member features.
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact mortdiggiddy directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Disclaimer
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact mortdiggiddy directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy