Renko Flip Marker

1 avr.

This script shows on chart where Renko bricks flip for candlestick chart. I intended it for candlestick chart, but it seems to work Renko chart too from my testing so far. You may change the Renko size for your own scenario you're trading. Hopefully helps, Thank you.

19 avr.

Notes de version

Everyone, I have to update to mention more details about the indicator as requested by TradingView. I hope it helps people out there. I am not a programmer, I am not an expert in this, I don't think programming is my forte and this may as well be the first and last indicator I'd publish neither I know what publishing is, lol. I personally don't use this indicator anymore for my trading, but it may help you. Let us know how it works or didn't work for you. For me, I notice as in sometimes it flips towards the end and flips the other way too and you can get stopped out in my experience although sometimes it works too. As they say, nothing is foolproof in trading.

📝 Script Description (for TradingView Publishing):
Renko Flip Marker is a visual aid for spotting trend reversals based on custom Renko logic applied directly on standard price charts (candles, bars, etc.).

This script emulates the core idea of Renko bricks, where price must move a fixed amount (box size) to register a change in direction—ignoring time and focusing purely on price movement.

🔍 How it Works:
You define the box size, i.e., how much price must move to form a new "brick".

The script tracks whether price crosses this threshold up or down.

If the direction flips, a triangle marker appears—green for up, red for down.

💡 How to Use:
Use it to identify breakout shifts or trend flips without relying on candle patterns.

Works especially well in volatile markets where price action matters more than time.

Can be used standalone or as a filter in breakout/trend-following strategies.

🔗 Originality:
This is not a traditional Renko chart, but rather an overlay-based Renko logic simulator.

You can use it with any chart type and timeframe—no need to switch to Renko charts.

Simple, effective, and designed to help you spot clean trend transitions without clutter.