Renko Alerts & Labels For ThinkOrSwim

[younglove06]

These codes are good for timed candles also, not just Renkos.

This is my first contribution to this forum, so let me know if there are questions.

Brick change from Up to Down(alert sounds at the open of the first brick).

# Renko Labels & Alerts  Brick change from Up to Down(alert sounds at the open of the first brick)
# @younglove06

def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot =   IsUp[1] and  IsDown[0];
PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot.SetDefaultColor(CreateColor(255, 0, 0));

AddLabel(PatternPlot, "TREND CHANGE", if PatternPlot then Color.RED else color.current);
Alert(PatternPlot, "sell signal", Alert.BAR, Sound.Ring);

Brick change from Up to Down(alert sounds at the close of the first brick)

# Renko Labels & Alerts  Brick change from Up to Down(alert sounds at the close of the first brick)
# @younglove06

def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot =  IsUp[1] and IsDown[0];
PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot.SetDefaultColor(CreateColor(255, 0, 0));

AddLabel(PatternPlot[1], "TREND CHANGE", if PatternPlot[1] then Color.RED else color.current);
Alert(PatternPlot[1], "sell signal", Alert.BAR, Sound.Ring);

Brick change from Down to Up(alert sounds at the open of the first brick)

# Renko Labels & Alerts  Brick change from Down to Up(alert sounds at the open of the first brick)
# @younglove06
def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot = IsDown[1] and IsUp[0];
PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot.SetDefaultColor(CreateColor(0, 255, 0));

AddLabel(PatternPlot, "TREND CHANGE", if PatternPlot then Color.GREEN else color.current);
Alert(PatternPlot, "buy signal", Alert.BAR, Sound.Ring);

Brick change from Down to Up(alert sounds at the close of the first brick)

# Renko Labels & Alerts  Brick change from Down to Up(alert sounds at the close of the first brick)
# @younglove06

def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot = IsDown[1] and IsUp[0];
PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot.SetDefaultColor(CreateColor(0, 255, 0));

AddLabel(PatternPlot[1], "TREND CHANGE", if PatternPlot[1] then Color.GREEN else color.current);
Alert(PatternPlot[1], "buy signal", Alert.BAR, Sound.Ring);

I love Renkos bars. I dont use them as a stand alone, but I definitely use them.

 

[diazlaz]

These codes are good for timed candles also, not just Renkos.

This is my first contribution to this form, so let me know if there are questions.

Brick change from Up to Down(alert sounds at the open of the first brick).

def IsUp = close > open;

def IsDown = close < open;

def IsDoji = IsDoji();

def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot =

    IsUp[1] and

    IsDown[0];



PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);

PatternPlot.SetDefaultColor(CreateColor(255, 0, 0));



AddLabel(PatternPlot, "TREND CHANGE", if PatternPlot then Color.RED else color.current);



Alert(PatternPlot, "sell signal", Alert.BAR, Sound.Ring);

Brick change from Up to Down(alert sounds at the close of the first brick)

def IsUp = close > open;

def IsDown = close < open;

def IsDoji = IsDoji();

def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot =

    IsUp[1] and

    IsDown[0];



PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);

PatternPlot.SetDefaultColor(CreateColor(255, 0, 0));



AddLabel(PatternPlot[1], "TREND CHANGE", if PatternPlot[1] then Color.RED else color.current);



Alert(PatternPlot[1], "sell signal", Alert.BAR, Sound.Ring);

Brick change from Down to Up(alert sounds at the open of the first brick)

def IsUp = close > open;

def IsDown = close < open;

def IsDoji = IsDoji();

def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot =

    IsDown[1] and

    IsUp[0];



PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);

PatternPlot.SetDefaultColor(CreateColor(0, 255, 0));



AddLabel(PatternPlot, "TREND CHANGE", if PatternPlot then Color.GREEN else color.current);



Alert(PatternPlot, "buy signal", Alert.BAR, Sound.Ring);

Brick change from Down to Up(alert sounds at the close of the first brick)

def IsUp = close > open;

def IsDown = close < open;

def IsDoji = IsDoji();

def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot =

    IsDown[1] and

    IsUp[0];



PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);

PatternPlot.SetDefaultColor(CreateColor(0, 255, 0));



AddLabel(PatternPlot[1], "TREND CHANGE", if PatternPlot[1] then Color.GREEN else color.current);



Alert(PatternPlot[1], "buy signal", Alert.BAR, Sound.Ring);

Thanks for this! Nice set.

Do you need to adjust average to tick size for it to work properly?

I have to look at my indicators, might have a few that will compliment these.

Thanks!

 

[younglove06]

Thanks for this! Nice set.

Do you need to adjust average to tick size for it to work properly?

I have to look at my indicators, might have a few that will compliment these.

Thanks!

Actually you just add it like any other indicator, so you will have already have set your tick size with the bars. So no matter how many ticks you set it for, whenever a new brick forms, you will get an alert, at the open or the close, depending on which codes you use. Or if you use them both, you will get an alert when a new brick both opens and closes. And YW!

 

[GetRichOrDieTrying]

Is it possible to use this for Heiken Ashi Candle color changes? I'd like to get an alert only when a red candle closes.

 

[younglove06]

Is it possible to use this for Heiken Ashi Candle color changes? I'd like to get an alert only when a red candle closes.

Yes, you can just change the candle type to renko and it will translate just the same. Use the codes above that only reflect the change at the close of the candle.

 

[camitos]

I think that code is great but is there any way it could only alert when 3+ bricks change the same colour as the bricks change colour all the time. 3+ in a row is definitely a better confirmation.

The alert on the close of the third I think would be great, you're awesome!

 

[younglove06]

Here is the code. I was able to put the buy alert and sell alert within the same code. So after the close of the 3 consecutive color candle, you will hear the alert and see the "buy alert" or "sell alert" label in the top left corner. At the close of any consecutive candle after the 3rd, you will get the alert. So if there are 5 consecutive upward renko blocks, you will get the alert after the 3rd, then the 4th, then the 5th. If there is only 3 consecutive candles, you will only get the alert after the 3rd. Let me know if you have any questions or if there are any issues.

def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);
plot PatternPlot =
    IsUp[2] and
    IsUp[1] and
    IsUp[0];

PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot.SetDefaultColor(CreateColor(0, 255, 0));

#NEXT

def IsUp2 = close > open;
def IsDown2 = close < open;
def IsDoji2 = IsDoji();
def avgRange2 = 0.05 * Average(high - low, 20);
plot PatternPlot2 =
    IsDown[2] and
    IsDown[1] and
    IsDown[0];

PatternPlot2.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot2.SetDefaultColor(CreateColor(204, 0, 0));


AddLabel(PATTERNPLOT[1] , "BUY ALERT", if PATTERNPLOT[1]  then Color.GREEN else color.current);

AddLabel(PATTERNPLOT2[1] , "SELL ALERT", if PATTERNPLOT2[1] then Color.RED else color.current);

Alert(PATTERNPLOT[1] , "buy signal", Alert.BAR, Sound.DING);
Alert(PATTERNPLOT2[1] , "sell signal", Alert.BAR, Sound.DING);

 

[camitos]

@younglove06 Looks great except I couldn't figure out how to remove the bubbles along each line of bricks. And then I realized that a good run up relies on more than upwards price action....

The best one I have right now is shared_A0_Reversal from Horserider - https://usethinkscript.com/threads/...ignals-for-thinkorswim.183/page-28#post-17586 which seems to use EMAs and some ATR in the code.

Trading sure is a journey! Thanks for helping me

 

[younglove06]

@camitos No worries!!! It is definitely a journey!!!!

 

[brendana]

@younglove06 I appreciate you writing out this code for us. I have set it up on my own thinkorswim account but for some reason the alerts won't send to phone or email even though I have them set up. Do these types of alerts not send texts or emails? thanks

 

[MerryDay]

@younglove06 I appreciate you writing out this code for us. I have set it up on my own thinkorswim account but for some reason the alerts won't send to phone or email even though I have them set up. Do these types of alerts not send texts or emails? thanks

No, study alerts cannot be sent to the phone or email.

Read more here:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-58010

 

[Ccaasr]

Is it possible to set up a scan and or alert using a custom indicator on tos renko charts.

 

[MerryDay]

Is it possible to set up a scan and or alert using a custom indicator on tos renko charts.

alerts and labels can be found here:
https://usethinkscript.com/threads/renko-alerts-labels-for-thinkorswim.775/
the above scripts can also be used in the scan hacker. For more information of how to set them up in the scan hacker:
https://usethinkscript.com/threads/how-to-use-thinkorswim-stock-hacker-scans.284/

How to search for answers to any additional questions:
https://usethinkscript.com/threads/search-the-forum.12626/

 

[kshires4]

These codes are good for timed candles also, not just Renkos.

This is my first contribution to this forum, so let me know if there are questions.

Brick change from Up to Down(alert sounds at the open of the first brick).

# Renko Labels & Alerts  Brick change from Up to Down(alert sounds at the open of the first brick)
# @younglove06

def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot =   IsUp[1] and  IsDown[0];
PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot.SetDefaultColor(CreateColor(255, 0, 0));

AddLabel(PatternPlot, "TREND CHANGE", if PatternPlot then Color.RED else color.current);
Alert(PatternPlot, "sell signal", Alert.BAR, Sound.Ring);

Brick change from Up to Down(alert sounds at the close of the first brick)

# Renko Labels & Alerts  Brick change from Up to Down(alert sounds at the close of the first brick)
# @younglove06

def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot =  IsUp[1] and IsDown[0];
PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot.SetDefaultColor(CreateColor(255, 0, 0));

AddLabel(PatternPlot[1], "TREND CHANGE", if PatternPlot[1] then Color.RED else color.current);
Alert(PatternPlot[1], "sell signal", Alert.BAR, Sound.Ring);

Brick change from Down to Up(alert sounds at the open of the first brick)

# Renko Labels & Alerts  Brick change from Down to Up(alert sounds at the open of the first brick)
# @younglove06
def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot = IsDown[1] and IsUp[0];
PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot.SetDefaultColor(CreateColor(0, 255, 0));

AddLabel(PatternPlot, "TREND CHANGE", if PatternPlot then Color.GREEN else color.current);
Alert(PatternPlot, "buy signal", Alert.BAR, Sound.Ring);

Brick change from Down to Up(alert sounds at the close of the first brick)

# Renko Labels & Alerts  Brick change from Down to Up(alert sounds at the close of the first brick)
# @younglove06

def IsUp = close > open;
def IsDown = close < open;
def IsDoji = IsDoji();
def avgRange = 0.05 * Average(high - low, 20);

plot PatternPlot = IsDown[1] and IsUp[0];
PatternPlot.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
PatternPlot.SetDefaultColor(CreateColor(0, 255, 0));

AddLabel(PatternPlot[1], "TREND CHANGE", if PatternPlot[1] then Color.GREEN else color.current);
Alert(PatternPlot[1], "buy signal", Alert.BAR, Sound.Ring);

I love Renkos bars. I dont use them as a stand alone, but I definitely use them.

@younglove06 Is there a way to get a mobile notification for the Renko trend change?

 

[useThinkScript]

Sadly no. Mobile alert notifications are only available from scanner results.
And as RENKO is not supported in the Scan Hacker; no scanner results are available.