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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:
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.
Ready to use out of the box
Fully configurable & customizable with ease
If you are not satisfied with an indicator you’ve bought, you may request us to replace it with another indicator of the comparable price for you.
Jan 05, 2023
The indicator was released (build new).
Step by step guide on how to install the indicators
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