Strategy · Pine Script v5 · On the chart

Weird Renko Strat

by wynnforthework

Weird Renko Strat requests a traditional Renko series for the chart symbol and compares the latest Renko close with the prior close.

View on GitHub

GitHub stars2on the repository
Pine versionv5runs as is
Lines of code107
Settings13inputs
LicenceNone stated
Last update1 year ago7 Oct 2025

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
  4. 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.

Source Code

The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.

Overview

In the default mode it enters long when that close rises and short when it falls, then closes the opposing position when the direction reverses. The anti setting swaps those directions. Compound sizing uses equity times a margin multiplier; otherwise size uses the initial capital. A date window can restrict new entries. The strategy overlays the price chart and does not set a stop loss.

Details

Published by

wynnforthework on GitHub

Type

Strategy, Pine Script v5

Draws

On the price chart

Category

Trend

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

  • The strategy enters trades without a stop loss

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
Margin(x)float1margin_x
Compound Yieldbooltruecompound
Anti Strategyboolfalsecounter
Paramfloat10param
Drawdown (%)float1down
From Monthint1fromMonth
From Dayint1fromDay
From Yearint2021fromYear
Thru Monthint1thruMonth
Thru Dayint1thruDay
Thru Yearint2112thruYear
Show Date RangebooltrueshowDate
Show all 13 settings
SettingTypeDefaultVariable
Max Backtest Timeframebooltruebutton
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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