What it does
A community-inspired study that emulates Renko-style bricks on a regular time-based chart: it builds fixed-size (or ATR-scaled) price bricks that only form when price travels a full brick beyond the last one, filtering out time and small fluctuations. The engine tracks the synthetic brick state, colors trend direction, and typically signals when bricks reverse after a run. It brings Renko's noise-free trend picture to a normal chart without switching chart types.
How to add it
Click Indicators (ƒx) in the header.
Search “Dext Dr Devendra's Smart Renko Engine” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- A brick-color reversal after a sustained run of same-colored bricks is the core trend-change signal.
- Ride trends while bricks keep printing one color; the count of consecutive bricks is a simple trend-strength gauge.
- Place stops one to two brick sizes behind the last reversal point, since it takes a full brick move to change state.
- Choose brick size deliberately: ATR-based bricks adapt to the symbol's volatility, while fixed bricks suit instruments with stable ranges.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Brick Size Mode | select | Percentage | Percentage / ATR / Fixed / Asset Type |
| Asset Type | select | NIFTY 50 | NIFTY 50 / BANK NIFTY / FIN NIFTY / SENSEX / Stock (Low) / Stock (Mid) / Stock (High) / Crypto / Commodity / Custom |
| Fixed Box Size | number | 10 | 0.0001–100000 |
| Brick % of Price | number | 0.66 | 0.01–10 |
| ATR / EMA-SMA Length | number | 150 | 1–500 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Renko Line | line | #2196F3 |
| EMA 10 | line | #FF9800 |
| EMA 30 | line | #E91E63 |
| SMA 150 | line | #9C27B0 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision, price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Double-click any of its lines to jump straight into the settings dialog.
- Save the configured chart as a study template (Indicators menu) to reapply this exact setup elsewhere.
- Right-click the indicator's line for quick actions — settings, visibility and removal without hunting through menus.
Watch out for
- Brick size dominates behavior — too small reproduces the noise Renko is meant to remove, too large gives signals far after the move; results are highly parameter-sensitive.
- Renko logic ignores time and gaps, so bricks can imply smooth continuity through jumps where no trading was actually possible at intermediate prices.