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Renko RSI

This is live and non-repainting Renko RSI tool. The tool has it’s own engine and not using integrated function of Trading View.

Renko charts ignore time and focus solely on price changes that meet a minimum requirement. Time is not a factor on Renko chart but as you can see with this script Renko RSI created on time chart.

Renko chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify.

As source Closing price or High/Low can be used.

Traditional or ATR can be used for scaling. If ATR is chosen then there is rounding algorithm according to mintick value of the security. For example if mintick value is 0.001 and brick size (ATR/Percentage) is 0.00124 then box size becomes 0.001. And also while using dynamic brick size (ATR), box size changes only when Renko closing price changed.

Renko RSI is calculated by own Renko RSI algorithm.

Alerts added:
Renko RSI moved below Overbought level
Renko RSI moved above Overbought level
Renko RSI moved below Oversold level
Renko RSI moved above Oversold level

RSI length is 2 by default, you can set as you wish.

You better to use this script with the following one:
Renko Chart



Enjoy!
Moving AveragesOscillatorsrenkorenkochartTrend Analysis

Script open-source

Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?

Clause de non-responsabilité