blackcat1402

[blackcat] L5 Renko Master

Level: 5

Background

Like many people in the Tradingview community, I have been studying how to apply Renko charts to backtesting and live trading for long. However, as we all know, the official Tradingview Renko chart is not recommended for backtesting because it will lead to unrealistic backtesting results. So, I thought about developing a set of customized Renko charts that can be used for backtesting and second-level trading. This "L5 Renko Master" is one of them that I am introducing today.

In fact, this is not a Renko chart based on Tick's principle. It is based on OHLC data, because this kind of chart can be used for reliable backtesting and trading in Tradingview. Therefore, the Renko Master in this script can actually coexist with the standard Japanese candlestick chart, but the trend reversal information it prompts is based on a principle similar to Renko. When the two can coexist and produce trading signals at the same time, this is really a very interesting invention.

Function

First of all, this Renko chart can coexist in the main chart with the Japanese candlestick chart. It can support up to 1 second level of display and trading. By configuring two parameters, you can adapt it to different Time Frames.

Secondly, this Renko chart can be used for backtesting strategies, because it is essentially OHLC data. Although the absolute value of the price cannot correspond to the original OHLC one-to-one, the certainty of the trend reversal is relatively high. It can be compared with Japanese candlesticks on the timeline.

Finally, this Renko chart is embedded with a Renko intrinsic trading strategy, which can be used to locate entry points through red and green labels. This strategy supports Tradingview alerts. You can get "LONG" or "SHORT" trading reminders by creating alerts. In order to obtain a clear market structure, Zen Stroke (Autolength ZigZag ) and Zen Kiss (Special Moving Averages) can be checked to be superimposed and displayed on the main chart to facilitate understanding of the temporal and spatial position of prices in the market.



Indicator Set

Renko Master Boxes (砖块图)
Zen Stroke (Auto ZigZag , 自动画缠论笔)
Zen Kiss Moving Averages (缠论均线)


Inputs
Price --> Price source used to produce Renko, close is default.
RefBarBack --> Lookback period length to calculate Renko. The larger value, the less sensitive to price ripples and sideways.
BoxPerc --> Internal box percentage input. The larger value, the less sensitive to price ripples and sideways.
Show Zen Stroke (AutoLen ZigZag )? --> Switch to turn on and off ZigZag .
Shown Renko MA? --> Switch to turn on and off special moving averages.


Key Signal

Bricks
Green bricks for up trend
Red bricks for down trend

Labels
Green labels for buy/long.
Red labels for sell/short.

Zen Stroke ( ZigZag )
Green line section for up stroke
Red line section for down stroke

Moving Averages
Yellow for fast line
Fuchsia for slow line


Pros and Cons

Suitable for discretionary trading and bots via alerts. However, only well selected trading pair and time frame can guarantee bot works.
Intuitive and effective, the output signal is more reliable after multi-indicator resonance

Remarks

My third L5 indicator published
Closed-source
Invite-only


Redeem Fee Life Lock Guarantee

Although I take the efforts to inform the script requesters that the best way to promote trading skills is to learn from the open source scripts I released by themself and to improve their PNIE script programming skills, there are still many people asking how to obtain or pay to use BLACKCAT L4/L5 private scripts. In fact, I do not encourage people to use Tradingview Coins ( TVC ) / Cryptocurrency to redeem the right to use BLACKCAT L4/L5 scripts. However, redeeming private script usage rights through TV Coins/ Cryptocurrency may be an effective way to force more people to learn PINE script programming seriously. And then I can concentrate on answering more valuable community questions instead of being overwhelmed by L4/L5 scripting permission reqeusts.
I would like to announce a ‘Redeem Fee Lock Guarantee’ program to further simplify the L4/L5 indicator/strategy utility offering and distinguish itself from the competition. ‘Redeem Fee lock guarantee’ is one of the major initiatives by BLACKCAT as a part of overall value packaging designed to guard BLACKCAT’s followers’ against cost-overruns and operational risks usually borne by them when it comes to PINE script innovation ecosystem. The TVCs redeemed for L4/L5 a follower signs up for with BLACKCAT is their guaranteed lifetime locked in TVC Quantity/ cryptocurrency, with no special conditions, exclusions and fine print whatsoever. Based on this scheme, I can constantly refine, expand, upgrade and improve PINE script publishing to ensure the very best experiences for my followers. The 'Redeem Fee Lock Guarantee' is a step in the direction of rewarding the valuable followers. NOTE: Every L4/L5 script redeeming service is ONLY limited to TVC or Cryptocurrency ("Win$ & Donate w/ This" Addresses displayed on script page) redeeming which the 1st signed up TVC Qty/ equivalent cryptocurrency is the lifetime offered TVC Qty/ equivalent crypto.

How to subscrible this indicator?

The script subscription period only has two options of one month or one year, and its price is floating. The latest price of the script subscription is proportional to the number of likes/agrees this script has already received. Therefore, the price of subscribing to this script shows an increasing trend, and the earliest subscribers can enjoy the price of lifetime lock to this script. As the number of likes / agrees of this script increases, the subscription fee for one month and one year will also increase linearly. Whatever, the first subscription price of the use will be locked for life.

Monthly subscription and annual subscription can be done either by tradingview coins ( TVC ) or by converting into equivalent cryptocurrency at the exchange rate (1TVC=0.01USD) for redeem.

TVC payment needs to pay TVC directly in the comments under this script. Every time I authorize a new user, I will update the latest number of subscribed users and latest price for next subscription under the script comment. If there are any conflicting scenario happened to the rules and my update. My updated price based on the rule will be the final price for next subscription. The following subscribers need to pay the corresponding amount of TVC or cryptocurrency in accordance with the latest number of users and price announced by me in accordance with the rules published.
TVC redemption is the method I strongly recommend, and I hope you can complete the redemption in the comment area of this script. This is like a blockchain structure, each comment is a block, each subscription is a chain, which is conducive to open and transparent publicity and traceability to avoid unnecessary disputes.


Monthly Subscription Charges

500TVC <50 Agrees (A)
50A<850TVC<100A
100A<1000TVC<150A
150A<1350TVC<200A
200A<1500TVC<250A
250A<1850TVC<300A
300A<2000TVC<350A
350A<2350TVC<400A
400A<2500TVC<450A
450A<2850TVC<500A
500A<3000TVC<550A
550A<3350TVC<600A
600A<3500TVC<650A
650A<3850TVC<700A
700A<4000TVC<750A
750A<4350TVC<800A
800A<4500TVC<850A
850A<4850TVC<900A
900A<5000TVC<950A
950A<5350TVC<1000A
1000A<5500TVC<1050A
And so on...

Annual Subscription Charges

5000TVC <50 Agrees (A)
50A<8500TVC<100A
100A<10000TVC<150A
150A<13500TVC<200A
200A<15000TVC<250A
250A<18500TVC<300A
300A<20000TVC<300A
350A<23500TVC<400A
400A<25000TVC<450A
500A<28500TVC<550A
500A<30000TVC<550A
550A<33500TVC<600A
600A<35000TVC<650A
650A<38500TVC<700A
700A<40000TVC<750A
750A<43500TVC<800A
800A<45000TVC<850A
850A<48500TVC<900A
900A<50000TVC<950A
950A<53500TVC<1000A
1000A<55000TVC<1050A
And so on...
仅限邀请脚本

仅限作者授权的用户访问此脚本,并且通常需要付费。您可以将其添加到收藏中,但是只有在向作者请求并获得许可之后,才能使用它。 请与blackcat1402联系以获取更多信息,或按照以下作者的说明进行操作。

在您100%信任脚本作者并了解脚本的工作原理之前,TradingView不建议您购买脚本并使用它。在很多情况下,您可以在我们的公共指标库中免费找到一个不错的开源替代品。

作者的说明

Monthly subscription and annual subscription can be done either by tradingview coins (TVC) or by converting into equivalent cryptocurrency at the exchange rate (1TVC=0.01USD) for redeem. To pay TVC directly in the comments below. Or DM me for crypto pay.

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评论

Can i get access
500 代币
+2 回复
blackcat1402 phe0nixlegend2012
@phe0nixlegend2012, permission granted to 7.14
回复
Can I get access please. Thanks.
500 代币
+1 回复
blackcat1402 manurajkuwar
@manurajkuwar, permission is granted to 8.15
回复
續期一年,之前訂的7月17日到期。謝謝
500 代币
+1 回复
@Agneslhy, 收到,已经授权到22.07.31
回复
Very interested in this indicator! What timeframe suits best in your opinion? Would like acmes, thanks in advance!
500 代币
+1 回复
blackcat1402 roelbuisman2
@roelbuisman2, permission granted to 8.1
回复
blackcat1402 roelbuisman2
@roelbuisman2, it depends on different pair pair and the parameters you tuned.
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Can I get access please...
500 代币
+1 回复