RenkoVP

RenkoVP

Overview
RenkoVP is a professional tool for price structure analysis that runs fully online on the main chart. Unlike many other Renko indicators, it requires no offline charts. The indicator combines Renko bricks, volume profile, dynamic Fibonacci levels, and automatic pattern recognition to help traders identify trends, key zones, and precise entry/exit points.

Renko Bricks Configuration
The indicator offers both manual and automatic brick configuration:

• No offline chart required - runs directly on the main chart

• Manual mode allows setting brick size in pips or dollars

• Auto mode adjusts brick size based on ATR and selected timeframe

• Timeframe selection available via dedicated button in indicator menu

Interactive Trend Line
Pressing the Trend button draws a white line from the highest to lowest visible price:

• The line is fully movable with your mouse

• Can be placed anywhere on the chart

• Once activated, Volume and Fibo buttons become available

Volume Profile Analysis
Press the Volume button to display volume profile for the selected range:

• Volume calculated based on Renko structure, not time-based candles

• Key volume levels shown on chart include:

  • POC (Point of Control)

  • VAH/VAL (Value Area High/Low)

  • FVL/RVL (First/Recent Volume Levels)

  • HVL/LVL (High/Low Volume Zones)

  • DVL (Dynamic Volume Level)

  • TVL (Total Volume in selected range)

Dynamic Fibonacci Tools
Press the Fibo button to draw Fibonacci retracement levels:

• Levels based on the trend line

• All levels fully editable - adjust percentages and appearance

• Ideal for identifying reversal zones and continuation setups

Zigzag and Pattern Recognition
Press the Zigzag button to activate Renko-based zigzag lines:

• Two adjustment buttons allow dynamic sensitivity control

• Automatic pattern detection and display on chart

• Recognized patterns include:

  • Classic: Triangle, Wedge, Flag

  • Harmonic: Bat, Butterfly, Shark, Cypher, Gartley, Crab

Key Features

• Fully online operation - no offline charts needed

• Multiple timeframe support with ATR-based auto sizing

• Interactive volume and Fibonacci analysis tools

• Automatic classic and harmonic pattern detection

• Ideal for structure-based traders and technical analysts