RENKO LineBreak indicator free

by mfejza in category Trend at 02/10/2022
Description

Renko Line Break determines the direction of the trend.

On the rollback of the trend place a stop order based on the Pips range.

In case the trend is long (green color) and price below the RenkoBottomLine then, try to find long.open position.

In case the trend is short (red color) and price above the RenkoTopLine, then try to find short.open position.

 

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Formula / Source Code
Language: C#
Trading Platform: cAlgocTrader
using System;
using cAlgo.API;
using cAlgo.API.Internals;
using cAlgo.API.Indicators;
using cAlgo.Indicators;

namespace cAlgo
{
    [Cloud("Renko Top", "Renko NewLevel", FirstColor = "Red", SecondColor = "Red" , Opacity = 0.1  )]  
    [Cloud("Renko NewLevel", "Renko Bottom", FirstColor = "Green", SecondColor = "Green" , Opacity = 0.1  )]  
    [Indicator(IsOverlay = true, TimeZone = TimeZones.UTC, AccessRights = AccessRights.FullAccess)]
    public class mRenkoLineBreak : Indicator
    {
        [Parameter("PIPS BoxSize (default 50)", DefaultValue = 50, MinValue =2)]
        public int inpBrickSize{ get; set; }

        [Output("Renko Top", LineColor = "Gray", LineStyle = LineStyle.Solid, Thickness = 1)]
        public IndicatorDataSeries outRenkoTop { get; set; }
        [Output("Renko Bottom", LineColor = "Gray", LineStyle = LineStyle.Solid, Thickness = 1)]
        public IndicatorDataSeries outRenkoBottom { get; set; }
        [Output("Renko NewLevel", LineColor = "Transparent", LineStyle = LineStyle.Solid, Thickness = 1)]
        public IndicatorDataSeries outRenkoNewLevel { get; set; }
        
        private double _bricksize;
        private IndicatorDataSeries _top, _bottom, _newlevel;


        protected override void Initialize()
        {
            _bricksize = inpBrickSize * Symbol.PipSize;
            _top = CreateDataSeries();
            _bottom = CreateDataSeries();
            _newlevel = CreateDataSeries();
        }

        public override void Calculate(int i)
        {   
            _top[i] = i>1 ? _top[i-1] : Bars.HighPrices[i];
            _bottom[i] = i>1 ? _bottom[i-1] : Bars.LowPrices[i];
            _newlevel[i] = i>1 ? _newlevel[i-1] : _top[i];
            
            if (Bars.ClosePrices[i] >= _top[i-1] + _bricksize)
            {
               _top[i] = _top[i-1] + _bricksize;
               _bottom[i] = _top[i] - _bricksize;
               _newlevel[i] = _top[i];
            } 
            
            if (Bars.ClosePrices[i] <= _bottom[i-1] - _bricksize)
            {
               _top[i] = _top[i-1] - _bricksize;
               _bottom[i] = _top[i] - _bricksize;
               _newlevel[i] = _bottom[i];
            } 
            
            outRenkoTop[i] = _top[i];
            outRenkoBottom[i] = _bottom[i];
            outRenkoNewLevel[i] = _newlevel[i];
        }
    }
}
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