PROTECTED SOURCE SCRIPT
Renko Based Support and Resistance
Renko-Based Support & Resistance (Supply & Demand)
This tool overlays Renko-style price action directly onto a standard candlestick chart to reveal clean, objective zones of support, resistance, and supply/demand imbalances.
🔹 Core Features:
Renko Calculation: Uses either ATR-based or fixed brick sizing to filter out noise and highlight true structural levels.
Dynamic Step-Line: Plots a Renko-style step line that adapts to price movement, making trend direction clear.
Support & Resistance Zones: Automatically identifies areas where multiple Renko bricks cluster, highlighting potential supply and demand zones.
Custom Brick Sizing: Choose between ATR × multiplier (for adaptive scaling) or a fixed unit size (ideal for futures/FX).
Session Reset Option: Start fresh each new day/session for intraday traders.
Signals & Alerts: Visual arrows when new Renko bricks form, plus optional alerts for bullish or bearish brick signals.
🔹 Why Use It:
Traditional candlestick charts can be noisy. By combining Renko’s clarity with live candle data, this indicator gives traders a reliable map of where buyers and sellers are likely to step in. It’s especially useful for spotting trend continuation, reversals, and critical supply/demand zones.
✅ Works across all timeframes and instruments (stocks, crypto, FX, futures).
This tool overlays Renko-style price action directly onto a standard candlestick chart to reveal clean, objective zones of support, resistance, and supply/demand imbalances.
🔹 Core Features:
Renko Calculation: Uses either ATR-based or fixed brick sizing to filter out noise and highlight true structural levels.
Dynamic Step-Line: Plots a Renko-style step line that adapts to price movement, making trend direction clear.
Support & Resistance Zones: Automatically identifies areas where multiple Renko bricks cluster, highlighting potential supply and demand zones.
Custom Brick Sizing: Choose between ATR × multiplier (for adaptive scaling) or a fixed unit size (ideal for futures/FX).
Session Reset Option: Start fresh each new day/session for intraday traders.
Signals & Alerts: Visual arrows when new Renko bricks form, plus optional alerts for bullish or bearish brick signals.
🔹 Why Use It:
Traditional candlestick charts can be noisy. By combining Renko’s clarity with live candle data, this indicator gives traders a reliable map of where buyers and sellers are likely to step in. It’s especially useful for spotting trend continuation, reversals, and critical supply/demand zones.
✅ Works across all timeframes and instruments (stocks, crypto, FX, futures).
Script protegido
Este script se publica como código cerrado. Sin embargo, puede utilizarlo libremente y sin limitaciones: obtenga más información aquí.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script protegido
Este script se publica como código cerrado. Sin embargo, puede utilizarlo libremente y sin limitaciones: obtenga más información aquí.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.