This is an educational study, using the security functions provided by @PineCoders(big thanks to them for creating this ) in order to see the difference between multiple candle close plots using: Heikin Ashi Renko Linebreak Kagi
Average of them all.
Both the different securities and the average can be used as a source for different indicators like moving averages or oscillators getting with them some new and unique opportunities.
Hi there, thank you for the educational script! I noticed something that I am not sure if you intended or not, but for example, when Renko brick creates a Wick, the Renko line on normal candle stick chart using your script draws the Renko Wick as a close. Was wondering why the line is drawn below instead of above when price moved up for Renko.
exlux99
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@abstract_guy, hi mate, probably in this case because I am only using the close of the candle as a source. If the other components such as high/open/low would be used, the accuracy would probably be better
abstract_guy
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@exlux99, thanks for your response! I'm trying to figure this out but have been unable to, is there a way to ignore the Renko brick wicks so that only the close of the brick is plotted?
BTW, thank you for creating this educational script, as a layman, this helps immensely. Truly appreciate it. Thank you.
dreambird787
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Hello, may I suggest an amazing feature could be added , which is multi time frame option MTF. To be: chart, 5m,15m,30m,1h,2h,4h,6h,1d,3d,1w,1Month.
imran1342
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Is it repaint
exlux99
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@imran1342, as long as you use close of the candle , no its not repaint
ogcrypto1cgdpx
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@exlux99,Thanks for this project my friend. Do you mean it doesnt repaint if the candle is closed?