Heiken Ashi overlay Renko

Sree

Member
Is it possible to create a hybrid candle or brick which consists of both HA and Renko for TOS to get advantage of both?
 
@Sree No, that would not be possible because Hiekin Ashi Candles are time-based while Renko Bars and Range Bars are tick-based... The two concepts cannot be mixed on one chart...
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

@Sree No, that would not be possible because Hiekin Ashi Candles are time-based while Renko Bars and Range Bars are tick-based... The two concepts cannot be mixed on one chart...
I was thinking more in terms of using HA's in a range timeframe with ticks, This is possible in TOS. In the Timeframe tab, set the Aggregation period to Range and then select Tick size. In the chart style, select HA to be the candle of choice. In this case, HA candles can be used on tick based charts as-well.

Once this setup is complete, in the Style menu, you can switch the range type to Renko bars or Range bars. HA goes away and replaces it with Renko bricks on the switch to Renko bars, which is where I want to overlay it and keep HA's on the brick pattern.
 
Good catch... I forgot that candles can be tick-based... Ok, but even if you add the Comparison Study you won't be able to run Hiekin Ashi and Renko Bars... I believe this is a limitation of TOS... There would be scaling issues with Renko Bars in the mix... Comparison only allows for Candles, Lines, and Bars... There is a topic here in the forums that covers Candles and Hiekin Ashi combined, however...
 

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
438 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top