PROTECTED SOURCE SCRIPT
Renko Based Support and Resistance
Renko-Based Support & Resistance (Supply & Demand)
This tool overlays Renko-style price action directly onto a standard candlestick chart to reveal clean, objective zones of support, resistance, and supply/demand imbalances.
🔹 Core Features:
Renko Calculation: Uses either ATR-based or fixed brick sizing to filter out noise and highlight true structural levels.
Dynamic Step-Line: Plots a Renko-style step line that adapts to price movement, making trend direction clear.
Support & Resistance Zones: Automatically identifies areas where multiple Renko bricks cluster, highlighting potential supply and demand zones.
Custom Brick Sizing: Choose between ATR × multiplier (for adaptive scaling) or a fixed unit size (ideal for futures/FX).
Session Reset Option: Start fresh each new day/session for intraday traders.
Signals & Alerts: Visual arrows when new Renko bricks form, plus optional alerts for bullish or bearish brick signals.
🔹 Why Use It:
Traditional candlestick charts can be noisy. By combining Renko’s clarity with live candle data, this indicator gives traders a reliable map of where buyers and sellers are likely to step in. It’s especially useful for spotting trend continuation, reversals, and critical supply/demand zones.
✅ Works across all timeframes and instruments (stocks, crypto, FX, futures).
This tool overlays Renko-style price action directly onto a standard candlestick chart to reveal clean, objective zones of support, resistance, and supply/demand imbalances.
🔹 Core Features:
Renko Calculation: Uses either ATR-based or fixed brick sizing to filter out noise and highlight true structural levels.
Dynamic Step-Line: Plots a Renko-style step line that adapts to price movement, making trend direction clear.
Support & Resistance Zones: Automatically identifies areas where multiple Renko bricks cluster, highlighting potential supply and demand zones.
Custom Brick Sizing: Choose between ATR × multiplier (for adaptive scaling) or a fixed unit size (ideal for futures/FX).
Session Reset Option: Start fresh each new day/session for intraday traders.
Signals & Alerts: Visual arrows when new Renko bricks form, plus optional alerts for bullish or bearish brick signals.
🔹 Why Use It:
Traditional candlestick charts can be noisy. By combining Renko’s clarity with live candle data, this indicator gives traders a reliable map of where buyers and sellers are likely to step in. It’s especially useful for spotting trend continuation, reversals, and critical supply/demand zones.
✅ Works across all timeframes and instruments (stocks, crypto, FX, futures).
受保护脚本
此脚本以闭源形式发布。 但是，您可以自由使用它，没有任何限制 — 在此处了解更多信息。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
受保护脚本
此脚本以闭源形式发布。 但是，您可以自由使用它，没有任何限制 — 在此处了解更多信息。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。