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Script Renko reversal bar for dual role as reversal and also as a continuation bar.
I am using Smart Renko bars, I get a premature exit when there is a pullback and should have remained either long or short. The bar sizes are 5 tick continuation and 10 tick reversal. Is there a way to script the upbar to stay short in a downtrend and the downbar to stay long in an uptrend. I have tried assigning trend,, moving averages but that did not work out. I realize its a reversal bar but it needs to have a dual role. Any Suggestions?
@bobwest, @cory
Can you help answer these questions from other members on NexusFi?
there is no such thing as "true reversal", but there are reversals in TF of your choosing. In this example I pick 60m vs 17 tick betterrenko, the question is would you prefer waiting 60m for a big turn or smaller TF for more turns.
