Renko Wave Volume

[Arete-Invictus]

I'm looking to see if anyone can help me with building an indicator. I'm interested in trading forex and am currently using renko charts in conjunction with time based candles. I'm wondering if it would be possible to build an indicator that can add up the tick count (tick count shown in lower part of screenshot as a histogram) of all of the bricks within each up and down wave as well as the time of duration for each wave and have these numbers painted on the chart. I've attached a screenshot of the renko chart I'm using. Any help is greatly appreciated!

 

[mashume]

Something like this perhaps... no editor open right now but this should be close. The idea of trend change is to see if last bar and this bar have changed direction and then use that to either reset the trend tick_count or add to it.

maybe it won't do anything.

def trend_change = if (open[1] < close[1] and open > close) or (open[1] > close[1] and open < close) then 1 else 0;
def cumulative_trend_tick_count = if trend_change == 1 then tick_count() else cumulative_trend_tick_count[1] + tick_count();
plot CTTC = cumulative_trend_tick_count;

-mashume

 

[Arete-Invictus]

Something like this perhaps... no editor open right now but this should be close. The idea of trend change is to see if last bar and this bar have changed direction and then use that to either reset the trend tick_count or add to it.

maybe it won't do anything.

def trend_change = if (open[1] < close[1] and open > close) or (open[1] > close[1] and open < close) then 1 else 0;
def cumulative_trend_tick_count = if trend_change == 1 then tick_count() else cumulative_trend_tick_count[1] + tick_count();
plot CTTC = cumulative_trend_tick_count;

-mashume

Thanks so much! This is very helpful! I've posted a screenshot of the tick counter below which is showing as a line study in the lower box. When I tried to put in on the price chart the boxes disappeared and only the line was showing.

When I put my cursor on the last brick of a wave (as shown in the screenshot) the counter gives me the cumulative tick number for that wave, which is exactly what I wanted. I wonder, is there a way to put that number on the price chart itself right above an up wave and below a down wave? My coding skills are not very good and I appreciate all of your help. If not, it's no trouble at all, you have been very helpful. Thank you again!

 

[mashume]

make yourself another study:

declare upper;
def trend_change = if (open[1] < close[1] and open > close) or (open[1] > close[1] and open < close) then 1 else 0;
def cumulative_trend_tick_count = if trend_change == 1 then tick_count() else cumulative_trend_tick_count[1] + tick_count();
addChartBubble(open[1] < close[1] and open > close, high, "CTTC: " + cumulative_trend_tick_count[1], color.light_red, down);
addChartBubble(open[1] > close[1] and open < close, high, "CTTC: " + cumulative_trend_tick_count[1], color.light_green, up);

I think. Perhaps. On a good day.

-mashume

 

[Arete-Invictus]

make yourself another study:

declare upper;
def trend_change = if (open[1] < close[1] and open > close) or (open[1] > close[1] and open < close) then 1 else 0;
def cumulative_trend_tick_count = if trend_change == 1 then tick_count() else cumulative_trend_tick_count[1] + tick_count();
addChartBubble(open[1] < close[1] and open > close, high, "CTTC: " + cumulative_trend_tick_count[1], color.light_red, down);
addChartBubble(open[1] > close[1] and open < close, high, "CTTC: " + cumulative_trend_tick_count[1], color.light_green, up);

I think. Perhaps. On a good day.

-mashume

Exactly what I was looking for. Thank you very much!

 

[majidg]

Can you please provide the code for this upper study? Thanks,

 

[mashume]

Can you please provide the code for this upper study? Thanks,

That's the code in post #4 above.

-mashume

 

[mashume]

Edited the code a bit to make it cleaner... hope it provides the same information.
I changed the position of the bubbles, and fixed the code. Also rearranged the colours so red is down and green is up. And I think the tick count is correct now (was missing the last bar of the trend previously)

declare upper;
def trend_change = if (open[1] < close[1] and open > close) or (open[1] > close[1] and open < close) then 1 else 0;

def cumulative_trend_tick_count = if trend_change == 1 then tick_count() else cumulative_trend_tick_count[1] + tick_count();

AddChartBubble("time condition" = open[0] < close[0] and open[-1] > close[-1], "price location" = high, text = "CTTC: " + cumulative_trend_tick_count[0], color = Color.LIGHT_green, Yes);

addChartBubble(open[0] > close[0] and open[-1] < close[-1], low, "CTTC: " + cumulative_trend_tick_count[0], color.light_red, No);

mashume

 

[mashume]

While we're on this thread, here's an interesting visualization of a lower:

declare lower;
input length = 15;
def trend_change = if (open[1] < close[1] and open > close) or (open[1] > close[1] and open < close) then 1 else 0;

def direction = if (open[1] < close[1] and open > close) then -1 else if (open[1] > close[1] and open < close) then 1 else direction[1];

def cumulative_trend_tick_count = if trend_change == 1 then direction * tick_count() else cumulative_trend_tick_count[1] + (direction * tick_count());
plot CTTC = cumulative_trend_tick_count;

CTTC.AssignValueColor(if CTTC <= 0 then color.dark_red else color.dark_green);
CTTC.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

plot sumsum = sum(CTTC, length) / length;
sumsum.SetDefaultColor(color.black);
sumSum.AssignValueColor(if sumsum <= 0 then color.light_red else color.light_green);
SumSum.SetPaintingStrategy(PaintingStrategy.SQUARED_HISTOGRAM);

 

[Arete-Invictus]

While we're on this thread, here's an interesting visualization of a lower:

declare lower;
input length = 15;
def trend_change = if (open[1] < close[1] and open > close) or (open[1] > close[1] and open < close) then 1 else 0;

def direction = if (open[1] < close[1] and open > close) then -1 else if (open[1] > close[1] and open < close) then 1 else direction[1];

def cumulative_trend_tick_count = if trend_change == 1 then direction * tick_count() else cumulative_trend_tick_count[1] + (direction * tick_count());
plot CTTC = cumulative_trend_tick_count;

CTTC.AssignValueColor(if CTTC <= 0 then color.dark_red else color.dark_green);
CTTC.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

plot sumsum = sum(CTTC, length) / length;
sumsum.SetDefaultColor(color.black);
sumSum.AssignValueColor(if sumsum <= 0 then color.light_red else color.light_green);
SumSum.SetPaintingStrategy(PaintingStrategy.SQUARED_HISTOGRAM);

Awesome! You have been extremely helpful and I cannot thank you enough!!