Renko Bricks with Volumes

v10.3
Renko Bricks with Volumes

This version of the renko indicator for prorealtime, adds the Volume information to allow or not the construction of new brick.
I introduced several “experimental” parameters to adapt the indicator to the displayed instrument.

Renko bricks can be built using a fixed point size defined by the “boxsize” parameter, a new brick will be built only if the volume of exchanges has been at least greater than the “volumesize” parameter since the last brick .
These settings being very strict, I added an automatic feature for a more convenient adaptation to each instrument and timeframe. Thus, the parameters “autoRenko” and “autoVolume” allow a more ‘user friendly’ approach:
_ autoRenko means automatic renko brick size based on 2 time ATR periods.
_ autoVolume means automatic volume size to allow new brick or not (override the “volumesize” setting), based on average of Volumes.

It is possible or not to “paint” the background of the graph according to the trend identified by the reversal of the bricks (parameter ‘showBG’).

This indicator is experimental and I invite you to discuss it in case you have ideas for improvement or concrete use in this topic of the forum: New Renko System

 

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

New! PRC is also now on YouTube, subscribe to our channel for exclusive content and tutorials

  1. DaxRider • 02/19/2018 #

    Hello Nicolas
    de plus en plus remarquable comme indicateur, merci de ton apport et partage

  2. swapping • 02/19/2018 #

    Nouvelle approche en mode “scalping pur”, merci Nicolas pour cet indicateur qui va surement faire des émules !!!

  3. Real Pro • 02/19/2018 #

    Hi Nicolas, Great work here thanks. How do I enable auto mode for the brick drawing please?

    • Nicolas • 02/19/2018 #

      With:
      autoRenko=1 //automatic renko brick size based on 2 time ATR periods
      autoVolume=1 //automatic volume size to allow new brick or not (override the “volumesize” setting) based on average of volume instead of fixed value

    • Real Pro • 02/19/2018 #

      Thank you. I tried the following but it does plot but not as I’d expect.

      //PRC_Renko Bricks Volumes | indicator
      //19.02.2018
      //Nicolas @ http://www.prorealcode.com
      //Sharing ProRealTime knowledge
      // https://www.prorealcode.com/topic/new-renko-system/

      //—settings
      transparency=50 //brick colours alpha
      wicksize=1 //width of wicks
      boxsize=0//(bricksize) //renko bricks size in points/pips
      volumesize=0//(volch) //volume size setting to allow new brick
      showBG=0 //background color (true/false)
      autoRenko=1 //automatic renko brick size based on 2 time ATR periods
      autoVolume=1 //automatic volume size to allow new brick or not (override the “volumesize” setting) based on average of volume instead of fixed value
      //—end of settings

      if autoRenko=1 then
      size=averagetruerange[14]*2
      else
      once size=boxsize*pointsize
      endif
      if autoVolume then
      volumesize=average[1000](volume)*10
      endif

      once upbox = close
      once downbox = close – (boxsize*pointsize)
      once lowwick = close*100

      volumesum = volumesum+volume

      IF close > upbox + size and volumesum-lastvolume>=volumesize THEN
      lastvolume = volumesum
      upbox = upbox + size
      downbox = downbox + size
      r=0
      g=200
      begin=barindex
      highwick=close
      wickbar=barindex-round((barindex-begin[1])/2)

      ELSIF close =volumesize THEN
      lastvolume = volumesum
      upbox = upbox – size
      downbox = downbox – size
      r=200
      g=0
      begin=barindex
      wickbar=barindex-round((barindex-begin[1])/2)

      ENDIF

      //saving current high/low
      highwick=max(high,highwick)
      lowwick=min(low,lowwick)

      //compute wicks at each new contrarian brick
      if r>0 and r[1]=0 then
      //new red brick
      drawrectangle(wickbar,highwick,wickbar+wicksize,upbox[1]) coloured(r[1],g[1],0)
      lowwick=low*100
      highwick=0
      endif
      if r=0 and r[1]>0 then
      //new green brick
      drawrectangle(wickbar,lowwick,wickbar+wicksize,downbox[1]) coloured(r[1],g[1],0)
      lowwick=low*100
      highwick=0
      endif
      //compute wicks at each new same brick
      if r>0 and r[1]>0 and lastdrawnwickbar then
      //new red brick
      if highwick>upbox[1] then
      drawrectangle(wickbar,highwick,wickbar+wicksize,upbox[1]) coloured(r[1],g[1],0)

      endif
      lastdrawn=wickbar
      lowwick=low*100
      highwick=0
      endif
      if r=0 and r[1]=0 and lastdrawnwickbar then
      //new green brick
      if lowwick<downbox[1] then
      drawrectangle(wickbar,lowwick,wickbar+wicksize,downbox[1]) coloured(r[1],g[1],0)

      endif
      lastdrawn=wickbar
      lowwick=low*100
      highwick=0
      endif

      //draw renko candlesticks
      drawcandle(upbox,upbox,downbox,downbox)coloured(r,g,0,min(transparency,255))
      if showBG then
      backgroundcolor(r,g,0,min(transparency,255))
      endif

      RETURN

  4. Real Pro • 02/19/2018 #

    working now, sorry for the bother

  5. David29 • 02/19/2018 #

    BONJOUR,

    Félicitations pour cet indicateur. Avez-vous une idée de comment créer une stratégie qui dirait que :
    Achat lorsque la brique se dessine vers le haut avec clôture de position lorsque la brique change d’orientation en direction du bas et inversement avec Short lorsque la brique se dessine vers le bas et TP lorsque la brique commence à s’inverser ?

    • Nicolas • 02/19/2018 #

      Je pense que ça a déjà été codé quelque part sur le forum. Dans la négative merci d’ouvrir un nouveau sujet spécifique.

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
lumarino ok gracias
19Tom85 Good evening, I am new here and quite interested in Volume Price analysis. may I ask you if ...
angelpero Me alegra ver que has vuelto a programar en Proreal, me gustaría poder acceder a tu blog, si...
Maxime Baudin Very useful! Thanks Mat, and Happy New Year
JayD Dans "modifier" Il faut ajouter les variables en cliquant sur la clé dans le bar en haut. Vo...
Kris75 Merci Jeanguy, suis très preneur de vos stratégies profitables avec cet indicateur !!
Screw27 Salut je vient d’installer ton indicateur mais il fonctionne pas ça m’indique un message d’e...
Om Hello, thanks for sharing! Getting a message that Variable P is undefined?
bertrandpinoy hello juanj, can you send the code repair by your good care to try scalping please?
rama what is the buy condition or sell condition for this can you suggest a code k1=1 buy and k1...
rama I would like to know at point 1 an alert or binary indicator so that I can place order
LucioleLucide Clean view, thanks for sharing
dertopen hi where i can found the window for candle configuration?
paolosab69 Ciao! . I have seen the pictures that explain this metod but i don't understand when is mome...
TACBOLSA
1 year ago
dario ti please can you help me to understand? i know i am wrong: Long Histogram = High Volume S...
TAC Bolsa hi, I have already seen the problem and requested that it be removed until an adequate so...
sixeight Hey TAC, Did you ever find a solution to this?
Gianluca Thank you!
Vinks_o_7 b=close > low and volume > high How can we compare volume and high of the day? (orang...
TAC Bolsa If to understand something you resort to compare Oranges and bananas. You go bad, Without e...
Gianluca THANK YOU!!!!!
TAC Bolsa Thank you, Jan Any modification is good reference if it helps us win in the market.
marcov66 Hi, it seems a very useful indicator. Unfortunately the link here for the full explanation d...
TACBOLSA Discontinued indicator. we are sorry.
tobytarczy Hi I am new to Pro RealTime platform. The TAC Volume profile is one that I would like to us...
19Tom85 Hi TAC Bolsa, your indicators are very value adding. May I ask you to please invite to your ...
toby.tarczy Hi I manged to load the indicator, great tool. Is there a way to speed up the refresh time o...
Nicolas You can ask for private custom coding to our programming services: https://www.prorealcode.c...
darbes Nicolas Could you code in PRT from an MT4 code ? Best JC
darbes Nicolas How to convert this signal into a strategy pro ? Best JC
Nicolas Add indicator on price doesnt require any specific type of subcription. Click on the wrench ...
tahiti bonjour j'ai une petite question comment peux on enlevé la bar blanche sur la bougie en cour...
sixeight Hi Kris, is there a way to increase the number of rows? I get a loop error
Tony87 can we have a update on this one please?
Nicolas Discussions with many other versions and improvements can be found here: https://www.proreal...
darbes Hi How does it go on live ? JC

Top