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[Sister Brand] Nova Wynd RK

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Please note that Solar Wind RK has been renamed Nova Wynd RK for copyright reasons!

Nova Wynd RK is a renko-optimized version of the Nova Wynd indicator.

In this variant, we eliminate the High & Low prices and only focus on the Close price in the calculation of the reference price ninZaATR is also replaced by Tick as the unit of offset. Hence, the Trend Vector and Trailing Stop plots of Nova Wynd RK perfectly match with the stair-step movements of [ninZaRenko] or [KingRenko$] bars. This is an important adaptation of Nova Wynd to special characteristics of renko bars, which improves its performance on ninZaRenko and KingRenko$.

With the important changes noted above, Nova Wynd RK allows you to determine exactly how many adverse bars a prevailing trend can tolerate.

The default setting of Nova Wynd RK is 60 ticks for Trailing Stop, which is optimized for ninZaRenko or KingRenko$ 12/4. This setting guarantees that on a ninZaRenko or KingRenko$ 12/4 chart, an uptrend can tolerate 11 down bars in a row, and a downtrend can tolerate 11 up bars in a row.

Nova Wynd RK is perfect for not only pro traders but also beginners who love renko bars and wish to get started with trend trading & market reading.

• 14 Oct 2024 - The indicator was renamed from "Solar Wind RK" to "Nova Wynd RK"; toggle was added; "Marker Rendering Method" was added.
• 08 Dec 2022 - The indicator was released (built new).