Renko & Point & Figure (Version 3.0)
Introduction
This is an advanced technical analysis tool that combines two popular charting systems with intelligent pattern recognition, statistical analysis, and real-time market assessment capabilities.
Core Features
1. Dual Display System
· Simultaneous Renko and Point & Figure charts
· Quick toggle between display modes
· Mini-chart in corner for alternative view
2. Intelligent Box Size Calculation
· Fixed Mode: Manually set box size
· ATR-Based Mode: Automatic adjustment based on market volatility
· Multi-Timeframe Support: M1 to D1 for ATR calculation
3. Pattern Recognition Engine
· Automatic pattern detection
· Custom pattern definition (buy/sell/exit)
· Win/Loss pattern identification
· Real-time pattern matching
4. Smart Color System (18 Colors)
· Visual market strength assessment
· Volume anomaly detection
· Trade status indication
· Time analysis visualization
5. Statistical Performance Analysis
· 24-hour performance heatmap
· Best/worst trading hour identification
· Win/Loss ratio tracking
· Historical pattern success rates
6. Integrated Trading System
· Auto buy/sell signals
· Configurable TP/SL management
· Pattern-based exit strategies
· Risk parameter optimization
Complete Color Interpretation System
Group 1: Basic Colors
Color
Meaning
Interpretation
GREEN
Bullish Brick
Price increased by box size amount
RED
Bearish Brick
Price decreased by box size amount
GRAY
Neutral Brick
Minor price change or market indecision
Group 2: Power Colors
Color
Meaning
Signal
Bright Green
Strong Buying Power
Buyers completely control the market
Bright Pink
Strong Selling Power
Sellers completely control the market
Group 3: Volume Colors
Color
Meaning
Interpretation
Dark Blue
High Buy Volume
Volume above average + uptrend
Dark Red
High Sell Volume
Volume above average + downtrend
Group 4: VWAP Colors
Color
Meaning
Significance
Turquoise
Above VWAP
Price above daily volume-weighted average
Dark Purple
Below VWAP
Price below daily volume-weighted average
Group 5: Trade Colors
Color
Meaning
Usage
Teal Green
Buy Brick
Brick created by buy order
Orange Red
Sell Brick
Brick created by sell order
Light Blue
Take Profit
Trade closed with profit
Dark Red
Stop Loss
Trade closed with loss
Group 6: Time Colors
Color
Meaning
Time Interpretation
Pinkish White
Zero Time
Brick formed immediately
Orange
Long Time
Formation took longer than usual
Sky Blue
Short Time
Formation faster than usual
Medium Green
Normal Time
Formation within standard range
How It Works - Step by Step
Step 1: Data Collection
· Receive market prices in selected timeframe
· Calculate trade volumes
· Record formation time of each candle
Step 2: Brick Calculation
text
If High price ≥ Previous price + Box Size:
Create Bullish Brick
If Low price ≤ Previous price - Box Size:
Create Bearish Brick
Step 3: Color Analysis
text
1. Calculate Buy/Sell Power:
Power = (Buy Volume - Sell Volume) ÷ Total Volume
2. Compare with Average Volume:
If Brick Volume > Average Volume × Threshold:
Assign Volume Color
3. Check VWAP Position:
If Price > VWAP + (3 × Box Size):
Assign VWAPUP Color
Step 4: Pattern Recognition
· Analyze last 6 bricks
· Compare with defined patterns
· Generate signals if pattern matches
Practical Settings
Recommended Initial Settings:
1. Currency Pair: EURUSD or GBPUSD
2. Timeframe: M5 or M15
3. Box Size: 500 pips (or ATR mode)
4. Patterns: Use default patterns
Advanced Settings:
· ATR Period: 14-24 periods
· Pattern Length: 6 bricks
· Volume Threshold: 1.5× average
· Power Threshold: 0.3
Trading Strategies
Strategy 1: Color Sequence Trading
text
Position: Sequence of POWERUP bricks
Entry: After volume confirmation
Exit: When color changes to RED
Strategy 2: VWAP Reversal
text
Position: Price approaching VWAP
Entry: VWAPUP or VWAPDN color appears
Exit: Return to normal range
Strategy 3: Combined Pattern
text
Pattern: GREEN → VOLUMEUP → POWERUP
Entry: Pattern completion
Exit: TP reached or trend change
Statistical Analysis
24-Hour Heatmap:
text
• Each cell = One hour of day
• Green color: High win rate
• Red color: Low win rate
• Color intensity: Success percentage
Performance Statistics:
· Best trading hours
· Worst trading hours
· Average profit to loss ratio
· Number of successful trades
Risk Management
Golden Rules:
1. Always use Stop Loss
2. Trade less during red hours
3. Don't ignore weak colors
4. Check trade volumes
Warning Signals:
· Bright Red + High Volume: Risk of sharp drop
· Consecutive Gray: Directionless market - Don't trade
· Sudden Color Change: Potential trend reversal
Practical Tips
For Beginners:
1. Start by just observing
2. Find patterns in history
3. Begin with demo account
4. Use default settings
For Professionals:
1. Define custom patterns
2. Optimize thresholds
3. Utilize statistical analysis
4. Create combined strategies
Color Pattern Interpretation
Strong Buy Pattern:
text
POWERUP → VOLUMEUP → GREEN → GREEN
Meaning: High buying power + High volume + Trend continuation
Sell Warning Pattern:
text
RED → VOLUMEDOWN → POWERDOWN
Meaning: Selling pressure + High volume + Seller control
Market Indecision Pattern:
text
GRAY → GRAY → GRAY
Meaning: Directionless market - Wait for breakout
Trend Reversal Pattern:
text
RED → RED → GREEN → VOLUMEUP
Meaning: End of downtrend + Start of uptrend
Daily Usage Guide
Morning (Overview):
1. Open the chart
2. Identify dominant color
3. Check hourly heatmap
4. Find active patterns
During Day (Trading):
1. Wait for complete patterns
2. Confirm colors
3. Check volumes
4. Enter trade
Evening (Review):
1. Review trades
2. Check daily statistics
3. Optimize settings
4. Plan for tomorrow
Final Summary
· Eliminates market noise
· Clearly shows trends
· Measures market strength
· Identifies best trading times
· Detects trading patterns
Key Insight: This indicator doesn't tell you "when" to trade, but rather "when it's better" to trade. Final success depends on risk management, patience, and proper execution.
Introduction
This is an advanced technical analysis tool that combines two popular charting systems with intelligent pattern recognition, statistical analysis, and real-time market assessment capabilities.
Core Features
1. Dual Display System
· Simultaneous Renko and Point & Figure charts
· Quick toggle between display modes
· Mini-chart in corner for alternative view
2. Intelligent Box Size Calculation
· Fixed Mode: Manually set box size
· ATR-Based Mode: Automatic adjustment based on market volatility
· Multi-Timeframe Support: M1 to D1 for ATR calculation
3. Pattern Recognition Engine
· Automatic pattern detection
· Custom pattern definition (buy/sell/exit)
· Win/Loss pattern identification
· Real-time pattern matching
4. Smart Color System (18 Colors)
· Visual market strength assessment
· Volume anomaly detection
· Trade status indication
· Time analysis visualization
5. Statistical Performance Analysis
· 24-hour performance heatmap
· Best/worst trading hour identification
· Win/Loss ratio tracking
· Historical pattern success rates
6. Integrated Trading System
· Auto buy/sell signals
· Configurable TP/SL management
· Pattern-based exit strategies
· Risk parameter optimization
Complete Color Interpretation System
Group 1: Basic Colors
Color
Meaning
Interpretation
GREEN
Bullish Brick
Price increased by box size amount
RED
Bearish Brick
Price decreased by box size amount
GRAY
Neutral Brick
Minor price change or market indecision
Group 2: Power Colors
Color
Meaning
Signal
Bright Green
Strong Buying Power
Buyers completely control the market
Bright Pink
Strong Selling Power
Sellers completely control the market
Group 3: Volume Colors
Color
Meaning
Interpretation
Dark Blue
High Buy Volume
Volume above average + uptrend
Dark Red
High Sell Volume
Volume above average + downtrend
Group 4: VWAP Colors
Color
Meaning
Significance
Turquoise
Above VWAP
Price above daily volume-weighted average
Dark Purple
Below VWAP
Price below daily volume-weighted average
Group 5: Trade Colors
Color
Meaning
Usage
Teal Green
Buy Brick
Brick created by buy order
Orange Red
Sell Brick
Brick created by sell order
Light Blue
Take Profit
Trade closed with profit
Dark Red
Stop Loss
Trade closed with loss
Group 6: Time Colors
Color
Meaning
Time Interpretation
Pinkish White
Zero Time
Brick formed immediately
Orange
Long Time
Formation took longer than usual
Sky Blue
Short Time
Formation faster than usual
Medium Green
Normal Time
Formation within standard range
How It Works - Step by Step
Step 1: Data Collection
· Receive market prices in selected timeframe
· Calculate trade volumes
· Record formation time of each candle
Step 2: Brick Calculation
text
If High price ≥ Previous price + Box Size:
Create Bullish Brick
If Low price ≤ Previous price - Box Size:
Create Bearish Brick
Step 3: Color Analysis
text
1. Calculate Buy/Sell Power:
Power = (Buy Volume - Sell Volume) ÷ Total Volume
2. Compare with Average Volume:
If Brick Volume > Average Volume × Threshold:
Assign Volume Color
3. Check VWAP Position:
If Price > VWAP + (3 × Box Size):
Assign VWAPUP Color
Step 4: Pattern Recognition
· Analyze last 6 bricks
· Compare with defined patterns
· Generate signals if pattern matches
Practical Settings
Recommended Initial Settings:
1. Currency Pair: EURUSD or GBPUSD
2. Timeframe: M5 or M15
3. Box Size: 500 pips (or ATR mode)
4. Patterns: Use default patterns
Advanced Settings:
· ATR Period: 14-24 periods
· Pattern Length: 6 bricks
· Volume Threshold: 1.5× average
· Power Threshold: 0.3
Trading Strategies
Strategy 1: Color Sequence Trading
text
Position: Sequence of POWERUP bricks
Entry: After volume confirmation
Exit: When color changes to RED
Strategy 2: VWAP Reversal
text
Position: Price approaching VWAP
Entry: VWAPUP or VWAPDN color appears
Exit: Return to normal range
Strategy 3: Combined Pattern
text
Pattern: GREEN → VOLUMEUP → POWERUP
Entry: Pattern completion
Exit: TP reached or trend change
Statistical Analysis
24-Hour Heatmap:
text
• Each cell = One hour of day
• Green color: High win rate
• Red color: Low win rate
• Color intensity: Success percentage
Performance Statistics:
· Best trading hours
· Worst trading hours
· Average profit to loss ratio
· Number of successful trades
Risk Management
Golden Rules:
1. Always use Stop Loss
2. Trade less during red hours
3. Don't ignore weak colors
4. Check trade volumes
Warning Signals:
· Bright Red + High Volume: Risk of sharp drop
· Consecutive Gray: Directionless market - Don't trade
· Sudden Color Change: Potential trend reversal
Practical Tips
For Beginners:
1. Start by just observing
2. Find patterns in history
3. Begin with demo account
4. Use default settings
For Professionals:
1. Define custom patterns
2. Optimize thresholds
3. Utilize statistical analysis
4. Create combined strategies
Color Pattern Interpretation
Strong Buy Pattern:
text
POWERUP → VOLUMEUP → GREEN → GREEN
Meaning: High buying power + High volume + Trend continuation
Sell Warning Pattern:
text
RED → VOLUMEDOWN → POWERDOWN
Meaning: Selling pressure + High volume + Seller control
Market Indecision Pattern:
text
GRAY → GRAY → GRAY
Meaning: Directionless market - Wait for breakout
Trend Reversal Pattern:
text
RED → RED → GREEN → VOLUMEUP
Meaning: End of downtrend + Start of uptrend
Daily Usage Guide
Morning (Overview):
1. Open the chart
2. Identify dominant color
3. Check hourly heatmap
4. Find active patterns
During Day (Trading):
1. Wait for complete patterns
2. Confirm colors
3. Check volumes
4. Enter trade
Evening (Review):
1. Review trades
2. Check daily statistics
3. Optimize settings
4. Plan for tomorrow
Final Summary
· Eliminates market noise
· Clearly shows trends
· Measures market strength
· Identifies best trading times
· Detects trading patterns
Key Insight: This indicator doesn't tell you "when" to trade, but rather "when it's better" to trade. Final success depends on risk management, patience, and proper execution.
Attached Image(s) (click to enlarge)
Attached File(s)
