AFL Library

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Details:

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Description:

Plot renko chart. Error in plotting will occur if the box and/or reversal values are too small causing the number of renko bars exceeding the underlying stock normal price bars

Formula:

// Renko  Chart
// Graham Kavanagh  13 Aug 2004 ver C
// Custom Indicator, date axis does not apply


 SetBarsRequired(10000,10000);

// Brick size is dependant on what you want, if too small will not produce a
chart due to insufficient x-axis bars
//Brick = LastValue( ATR(100) );
//Brick = LastValue( Max(0.02*C, 0.05) );
Brick = Param( "Brick Size", 0.1, 0.01, 1.00, 0.01 );
reverse = 2;

// Convert the closing price to rising and falling rounded bricks
CF = ceil(C/Brick);
CR = floor(C/Brick);

// initialize first element
j = 0;
RKC[j] = CF[0];
RKO[j] = CF[0] + 1;

down[j] = 1;  // By default the first bar is a down bar.
up[j] = 0;

// Loop to produce the Renko values in number of bricks

for( i=1; i<BarCount-1; i++ )
{
if( CF[i] <= RKC[j] - 1 && down[j] ) // Continue down
	{
		num = RKC[j] - CF[i];
		for( x=1; x<=num; x++ )
		{
			j++;
			up[j] = 0;
			down[j] = 1;
			RKC[j] = RKC[j-1] - 1;
			RKO[j] = RKC[j] + 1;
		}
	}
	else
	{
		if( CR[i] >= RKC[j] + Reverse && down[j] )  // Change down to up
		{
			num = CR[i] - RKC[j];
			j++;
			up[j] = 1;
			down[j] = 0;
			RKC[j] = RKC[j-1] + 2;
			RKO[j] = RKC[j] - 1;			
			for( x=2; x<=num; x++ )
			{
				j++;
				up[j] = 1;
				down[j] = 0;
				RKC[j] = RKC[j-1] + 1;
				RKO[j] = RKC[j] - 1;
			}
		}
		else
		{
			if( CR[i] >= RKC[j] + 1 && up[j] ) // Continue Up
			{
				num = CR[i] - RKC[j];
				for( x=1; x<=num; x++ )
				{
					j++;
					Up[j] = 1;
					Down[j] = 0;
					RKC[j] = RKC[j-1] + 1;
					RKO[j] = RKC[j] - 1;
				}
		 	}
		 	else
		 	{
			 	if( CF[i] <= RKC[j] - Reverse && up[j] )  // Change up to down
			 	{
				 	num = RKC[j] - CF[i];
				 	j++;
					Up[j] = 0;
				 	Down[j] = 1;
				 	RKC[j] = RKC[j-1] - 2;
				 	RKO[j] = RKC[j] + 1;
				 	for( x=2; x<=num; x++ )
				 	{
					 	j++;
					 	up[j] = 0;
				 		down[j] = 1;
				 	 	RKC[j] = RKC[j-1] - 1;
				 	 	RKO[j] = RKC[j] + 1;
					}
				}
			}
		}
	}
}


// move the chart to right end of chart space, ie last brick on last bar
position
delta =  BarCount-1 - j;

RKC = Ref( RKC, -delta );
RKO = Ref( RKO, -delta );

Up = Ref( Up, -delta );
Down = Ref( Down, -delta );

/*
rC = RKC * Brick;// + (Up-down)*Brick/2;
rO = RC - (Up-down)*Brick;
rH = Max(rC,rO);
rL = Min(rC,rO);
*/


C = RKC * Brick;// + (Up-down)*Brick/2;
O = C - (Up-down)*Brick;
H = Max(C,O);
L = Min(C,O);

Plot( C, "", colorGrey50,styleCandle); 
// plot chart
//plotOHLC( rO, rH, rL, rC, "Renko Price " , colorBlack, styleCandle);
GraphXSpace=5;

Title = Name() + " - {{INTERVAL}} {{DATE}} - Renko Chart : Last Value = " + RKC
* Brick + ", Brick Size = " + Brick;

Comments: