RenkoPointFigure

RenkoPointFigure

This powerful indicator combines two proven strategies—Renko and Point & Figure (P&F)—into one comprehensive tool for trend identification, pattern recognition, and risk management. With dynamic Box Size calculation (Fixed or ATR-based), moving average filters, and win/loss pattern detection, traders can make smarter, data-driven decisions.

Hybrid Renko + P&F System

• Renko: Noise-free price action with fixed blocks (Green/Red)  
• Point & Figure: Clear support/resistance levels with X (bullish) and O (bearish) columns  

 Smart Box Size Calculation

• Fixed Mode (e.g., 500 pips per box)  
• ATR-Based Mode: Auto-adjusts to market volatility  

 Moving Average (MA) Filters 

•  Add two MAs
•  Get signals from price/MA crosses or MA/MA crosses  

 Win/Loss Pattern Recognition

• detects classic patterns (double tops/bottoms, triangles, etc.)  
• Displays historical success rate & occurrence count  
• Customizable win/loss pattern definitions 
• Alerts for false breakouts  

 Custom Pattern Detection

• User-defined sequences of red/green blocks (Renko) or X/O columns (P&F)

• Save and track performance of your personal patterns

 Time-Based Trade Analysis

• Color-coded high-probability trading hours

• Tracks win/loss count per starting hour

• Main Chart: Switch between Renko & P&F

• Mini-Chart (Corner): Detailed pattern stats & signals

1. Select Display Mode:

   • Main Chart: Renko (default) or P&F

   • Mini-Chart: Pattern details

2. Adjust Box Size:

   • Fixed: Manual input (e.g., 500 pips)

   • ATR-Based: Customize ATR period

3. Add Moving Averages:

   • Choose type (EMA, SMA, etc.), period, and color

4. Enable Pattern Analysis:

   • Click the "Pattern" button to view stats

• Buy Signal:

  • Green Renko block + Price above MA

  • P&F "Double Bottom" with 70% historical success rate

• Sell Signal:

  • Red P&F column + Support breakout with false breakout alert

 Why Use This Indicator? 

 Saves time with automated analysis  

Reduces noise by focusing on pure price action  

 Improves risk management with pattern failure stats  

 Optimizes entry timing with hourly performance data