Enhanced Renko Channel with Emulation and SMA by Dr Devendra

7. Jan.

This indicator combines a dynamic Renko-based channel with emulated Renko bricks and a customizable Simple Moving Average (SMA). It provides traders with a powerful tool for identifying trends, visualizing price movement within a Renko framework, and overlaying critical moving average signals.

Features:
Renko Channel:
A Gaussian-based midline with adjustable poles and sampling periods.
True Range-based dynamic channel boundaries.
Visual trend identification with color-coded channel fills.

Renko Emulation:
Emulated Renko brick levels with adjustable brick sizes.
Dynamic brick plotting based on price action.

Simple Moving Average (SMA):
Configurable length and source (e.g., close, hlc3, etc.).
Dynamic color changes based on SMA slope (uptrend or downtrend).

Customizable Inputs:
Adjustable parameters for the channel, Renko emulation, and SMA settings.
Options for reduced lag and fast response modes in the Renko channel.

7. Jan.

Versionshinweise

Updated V1