the renko is very interessting for me.
because it allows you to trade something special. i tryed it also on a normal chart, but the resault was not so good.
the idea was from the elliottwaves , to trade the half of a range buy useing a stop entry. what i thought it should be the only 2:1 trade.
and in my theorie it works .. but the normal chart is to much chaos. so i tried the renko. is very interessting
this is also for tradingview.
//@version=4
strategy(“Monster”, overlay=true)
startDatum = timestamp(“2022-12-01T00:00:00Z”) // 1. Januar 2021
var float a = na
var float b = na
// Überprüfen der Bedingungen
if (close[1] > open[1] and close[0] < open[0])
a := high[1]
if (close[1] < open[1] and close[0] > open[0])
b := low[1]
c = (a-b)/2
if (((close[1] > open[1] and close[0] < open[0])) and (time >= startDatum))
strategy.entry(“Short”, strategy.short, stop = a-c )
if (((close[1] < open[1] and close[0] > open[0])) and (time >= startDatum))
strategy.entry(“Long”, strategy.long, stop = b+c)
plot(series=na(a) ? na : a-c, color=color.red, linewidth=2, title=”Short Stop”)
plot(series=na(b) ? na : b+c, color=color.green, linewidth=2, title=”Long Stop”)
.
.
