The indicator implements a breakthrough system using the Renko channel. When price exits the gray channel, the bar color changes to the color corresponding to trend direction.
Green for the growth of a financial asset, red color - fall. Bright colors denote coincidence of trend direction and direction of a candlestick. Dark colors correspond to the situation when the direction of a candlestick is opposite to trend.
Figure 1. Indicator Renko_v2
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/2093
The TrendTriggerMod indicator with the timeframe selection option available in input parameters.PrevDayAndFloatingPivot_HTF
The PrevDayAndFloatingPivot indicator with the timeframe selection option available in input parameters.