Rendering Renko Bricks with a Bollinger Band Overlay

Summary

This educational indicator example explains a charting method that draws Renko bricks and overlays Bollinger Bands calculated from completed bricks. Its inputs are brick size, the Bollinger lookback measured in Renko bricks, and the standard-deviation multiplier. The display uses different colors for rising and falling bricks, outer bands, and a middle band.

The implementation uses a single canvas bitmap layer to render the bricks, scales them automatically, and redraws the chart when its size changes. It does not require external indicators, custom symbols, offline charts, or DLLs. The document describes a visualization technique rather than a trading method: it gives no entry or exit rules, backtest, or evidence of predictive value, and explicitly makes no claim about future performance.

Key ideas

• Renko brick size determines the price movement represented by each brick.
• Bollinger Bands are calculated over a lookback expressed in completed Renko bricks.
• A single bitmap canvas can render many bricks and resize with the chart.
• The example is for visualization and provides no trading signals or performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.