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Renko-Style Trend

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Regular Price $296 Special Price $178

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Product Description

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Renko-Style Trend is a price-based trend indicator that employs the logic with which Renko bars are built.

There are 2 parameters to determine trend states and trend shift: "Trend Offset" and "Reversal Offset", which is similar to Renko settings. Let's take an example of Trend Offset and Reversal Offset configured as 2 ninZaATR and 4 ninZaATR, respectively. Then:
  • Every time the market moves at least 2 ninZaATR in the direction of the existing trend, the trend will strengthen with the upper & lower thresholds moved to the next step (in the direction of the trend).
  • If the market moves at least 4 ninZaATR against the existing trend, the trend will reverse.
  • Otherwise, the market will keep moving in a "box" with the upper & lower thresholds unchanged - which is something similar to Darvas boxes.

All threshold meetings are verified by the Close price.

The indicator generates "Trend Start" signals when the market enters a new trend and "Trend Strengthening" signals when the existing trend steps up. Bar colorization and background painting can be enabled for you to easily identify trend states.

Dedicated NinjaScript signals:
  • Signal_Trend: 1 = uptrend, -1 = downtrend, 0 = no trend
  • Signal_Trade: 1 = uptrend start, 2 = uptrend strengthening, -1 = downtrend start, -2 = downtrend strengthening, 0 = no trend

Software Changelog

  • 05 Jan 2023 - The indicator was released (build new).

Product Media

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From very happy customers... 500+ reviews →
  1. product_image Renko-Style Trend $$
    5 5

    Great customer support, even for free indicators!

    Larry Pi was an incredible help when I didn't know how to apply his free Bar Duration indicator to an automated strategy. Now I get to test some ideas that I had, and could not of done it without him. Thank you so much again!

  2. product_image Renko-Style Trend $$
    5 5

    Market Profile

    Thank you for developing the Market Profile indicators. These are great tools. I really like the heat map display for volume at price. I can see it from across the room. The tools are very elegant and simple, easy to use.

  3. product_image Renko-Style Trend $$
    5 5

    NT8 Bar Status

    Downloaded your Bar Status for NT8 platform 2 days ago and I love it.
    Thanks a lot for the stuff you guys already provide for free!

These testimonials may not be representative of the experience of other users or customers and do not guarantee future performance or success.

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