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Now we can put Renko on any other indicators (RSI, Stoch etc.)
Yes now it works.
Just to think what to do with this.
Some time ago I used Generator of Digital Filters and created some indicator which is showing the price in separate window. We may use this indicator or some an other one.
But too many indicators in one small separate window is not very good.
PCCI has very simply algorithm. It's difference between Close and Digital Filter value, perhaps,FATL. If delete Close and change minus on plus for FATL you get
values in separate window.
Maybe you didn't understand, I wanted to say that now possible to use Renko algorithm for the other indicator, for instance, RSIRenko.
I've made several versions using Igroad's indicator, but have not tried the pcci version. I keep going back to the always in play version, because otherwise it seems that a trade never takes place.
How it is set is to place the trade when price meets either the upperbrick, or the lower brick
Hi,
Snatched this off another site.
Supposed to be a Renko Brick Indicator, based on ATR.
I think it's C#, but as all coding/programming it pure Martian to me, I wonder if someone would take a crack at coding it for Metatrader.
Tks all,
{Renko-Adaptive indicator (based on ATR) Written by konkop 07.03.2002. ********************* Attention: set MaxBarsBack (f.e. =30) in this study according with MaxBarsBack value in the Renko_Adaptive strategy for correct step-by-step calculations of the buy/sell levels *********************} Inputs: K(1), Smooth(10); vars:Brick(0) ,DN(0), UP(0), BricksUp(0), BricksDn(0); Value1 = AvgTrueRange(Smooth); If BarNumber = 1 Then Begin Up = H; Dn = L; Brick = K*(H - L); End; If BarNumber > 1 then begin If C > UP + Brick Then begin BricksUp = IFF(Brick = 0, 0, Floor((C - Up)/Brick)*Brick); UP = Up + BricksUp; Brick = K*Value1; DN = Up - Brick; BricksDn = 0; End; If C < Dn - Brick Then begin BricksDn = IFF(Brick = 0, 0, Floor((Dn - C)/Brick)*Brick); Dn = Dn - BricksDn; Brick = K*Value1; Up = Dn + Brick; BricksUp = 0; End; End; Plot1(UP, "Up"); Plot2(DN, "Dn");
Konkop appears to be an alias for Nikolai Kositsin, well known for good mql programming and developer of indicators.
I have found a "renko" zip on a site, it's got some interesting stuff I need to further explore. In the zip is also the attached file, maybe this helps.
Linear Mode
