RicardoSantos

[RS]Renko Overlay V0

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Renko Overlay:
  • tf: Timeframe to use.
  • mode:ATR or Traditional.
  • modeValue: can be whole number for ATR mode(ex:.15) or floating point value for Traditional(ex:.0.12345).
  • showOverlay: Display renko bars.
  • showBarColors: Display Bar Colors.
  • showMa: display Renko based ma.
  • MA_length: moving average length.

note: should use with scale series only toggled on, so it doesnt strech.
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study(title='[RS]Renko Overlay V0', shorttitle='[RS]RO.V0', overlay=true)
tf = input('5')
mode = input('Traditional')
mode_value = input(0.0005, type=float)
showOverlay = input(true)
showBarColors = input(false)
showMA = input(false)
MA_length = input(12)

rt = renko(tickerid, 'close', mode, mode_value)

ro = security(rt, tf, open)
rc = security(rt, tf, close)

colorf = rc > ro ? #00ff80 : rc < ro ? #ff8000 : gray
plot(not showOverlay ? na : max(rc,ro), color=colorf, style=columns, transp=50)
plot(not showOverlay ? na : min(rc,ro), color=white, style=columns, transp=0)

ma = showMA ? sma(ro, MA_length) : na
plot(not showMA ? na : ma, color=black, linewidth=2)

barcolor(not showBarColors ? na : rc > ro ? lime : red)
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