Renko Velocity Heatmap

Velocity Renko Heatmap is a separate-window indicator that converts standard time-based price series into Renko-style blocks and colors them by momentum speed. Each block represents a fixed Renko box size, while the color intensity reflects how fast the block was formed relative to recent average formation time. Slow movement appears dim/neutral, fast movement becomes more saturated, enabling quick visual assessment of acceleration and deceleration in trend moves.

The indicator is designed for traders who like the noise reduction of Renko but also want a clear time-based “velocity” layer to judge whether a move is strengthening or fading. Adaptive scaling is included so that the color range adjusts to current market conditions instead of remaining fixed.

Key features:

• Renko-style blocks displayed in a separate indicator window

• Velocity-based heatmap coloring (intensity increases with faster block formation)

• Adaptive velocity range for dynamic normalization

• Adjustable Renko box size (points-based)

• Configurable lookback for average block duration calculation

• Optional tooltip-style information concept (velocity, duration, direction)

Inputs:

• Renko Box Size (Points): Size of each Renko block in points

• Lookback Period for Average Time: Period used to compute average block duration

• Adaptive Range Period: Number of recent blocks used to normalize velocity

• Bullish/Bearish Slow/Fast Colors: Color endpoints used for interpolation

• Show Tooltips on hover: Enables additional information logic (platform tooltip behavior may vary)

• Minimum Velocity Range: Ensures adaptive scaling remains usable even in low-volatility phases

Notes:

• The indicator is for analytical visualization only and does not execute trades.

• Works on any symbol and timeframe as it derives blocks from the chart’s close prices.