OPEN-SOURCE SCRIPT
Renko Momentum Wave (RMW)
Renko Momentum Wave
The Renko Momentum Wave (RMW) is a custom momentum oscillator specifically designed for Renko-based price action analysis. Unlike traditional oscillators that rely on time-based data, the RMW focuses on the directional consistency of Renko bricks, measuring the strength of trend momentum purely based on price movement.
The Renko Momentum Wave (RMW) is a custom momentum oscillator specifically designed for Renko-based price action analysis. Unlike traditional oscillators that rely on time-based data, the RMW focuses on the directional consistency of Renko bricks, measuring the strength of trend momentum purely based on price movement.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.