Hello,
I hope I'm asking my question in the right thread and I'm sorry if I didn't.
Is there an indicator that plots some vertical line, a zone or a signal at a specific time of the day but works with Renko Hybrid bars?
From what I know is Renko hybrid doesn't configure time in it's calculations.
I use Renko hybrid charts and I would like to stay away from initiating a trade at a specific time during the day.
If an indicator can plot some grey area or vertical line during that time so I take better precautions before I jump into a trade.
Any suggestions?

Thanks

I had originally coded a little indicator that I had called Narrow Range Bars. I have now updated that indicator to include inside bars, double inside bars, wide range bars, outside bars and triangles.

Download: Range Analysis Exported using NT Version 7.0.1000.16 This indicator allows to detect narrow range bars, inside bars, wide range bars, outside bars and triangles. The bar types follow the terminology presented by Toby Crabel in his book "Day Trading With Short Term … personFat Tails

Patterns described by Toby Crabel:

Narrow range bar (NR7): a bar with a smaller range than the prior 6 bars

Narrow range inside bar (IB4): an inside bar with a smaller range than the prior 3 bars

Narrow range inside bar (IB7): an inside bar with a smaller range than the prior 6 bars

Wide range bar (WR7): a bar with a larger range than the prior 6 bars

Wide range outside bar (OB4): an outside bar with a larger range than the prior 3 bars

Wide range outside bar (OB7): an outside bar with a larger range than the prior 6 bars


Pattern used by Linda Bradford Raschke:

Three bar triangle (LBR): a bar which lies inside the combined range of the prior two bars


Other pattern:

Double inside bar (DI4): an inside bar that is preceded by an inside bar and which has a smaller range than the prededing 4 bars


The indicator allwos to display each of the patterns listed above. To detect simple inside bars, please set the parameter "Lookback inside bars" to 2, and it will show all inside bars. The same applies to double inside bars. For simple outside bars set the parameter "Lookback outside bars" to 2. The indicator allows to show the patterns in detail by adding the appropriate text labels. Alternatively, diamonds can be used. The indicator further comes with a paintbar option and sound alerts. Narrow range and inside bars can only be detected after the bar close, while wide range and outside bars will be detected intra-bar, if the indicator is set to COBC = false.

Please do not use all features of the indicator at the same time, it would be simply confusing, see chart below:




Example 1: Use the indicator to detect narrow range and inside bars.




Example 2: Use the indicator to detect wide range and outside bars.




Example 3: Use the indicator to detect LBR three bar triangles.

is it possible to create these triangles based on price swing , like if you want it to select a 5 or 7 swing instead of 3 bars only

The triangles are not based on swings. It is not possible to select 5 or 7 bar swings or to build triangle from 5 or seven bars.

However, it would be possible to build triangles from compounded bars. This would result in 3-bar, 6-bar, 9-bar, 12-bar etc triangles.

hi, i am not looking to create them based on a fixed number of bars but for them to be created based on a fractal or swing high and low , they will be more dynamic - if we use the price action swing and use a 7 then we would get triangles based on the swing high/low of 7 , we can change it to 5 or 10 but it will plot based on HH, HL ,etc

This is something entirely different, as you basically connect two consecutive swing highs and lows. It has little to do with LBR triangles.

But of course anything that can be derived from a simple set of rules can be turned into code.