RENKO Trading

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08/12/2020 at 12:50 PM #141482 quote

PhilipSchultz
Participant

Junior

Hi everybody, does anyone have an idea about how i can calculate Renko chart?

For example: If i look at the DAX between their opening hours i want to know how many green renko their having, and how many red they have.

The reason i want to know this is to know if we are in a bullish or bearish trend.

So for an example: If the time is 12:00 i want to know how many green renko we have and how many red we have. If we have 50 green renko and 30 red renko we are in a bullish trend. As soon as we have more red renkos we are in a bearish trend. Example 76 red renkos and 61 green renkos. Do you have any idea about how i can get this information without calculating the renkos by my self every time.

My curent settings for renko is 2 units with a 1 minut timeframe.

//Philip

08/13/2020 at 9:29 AM #141498 quote

Nicolas
Keymaster

Master

Why do we should use renko bricks for that purpose? If you are only looking if the price is ascending or descending, just compare the Dclose(0) with Dclose(1) (change from yesterday).

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RENKO Trading

ProBuilder: Indicators & Custom Tools

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PhilipSchultz @philipschultz Participant

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This topic contains 1 reply,
has 2 voices, and was last updated by Nicolas
5 years, 6 months ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	08/12/2020
Status:	Active
Attachments:	No files

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