Renko Open-Close Crossovers with Trailing Stops

Summary

This script builds traditional Renko open and close series at a user-selected brick size and plots them over a regular candlestick chart. It enters long when the Renko close crosses above the Renko open and enters short when it crosses below. Each entry is paired with a trailing exit, with the trail distance configurable. The conditions also include a date filter, so signals are restricted to dates after a specified year and month.

The document provides the script and describes its intended use across chart timeframes, but it offers no backtest results or performance measures. User comments raise repainting as a concern; Renko values derived from price data may change as bars develop, so apparent historical signals may not match signals available live. The trailing stop's behavior, brick-size sensitivity, execution assumptions, and results across markets are not evaluated. The script therefore illustrates a signal construction rather than evidence of a reliable trading edge.

Key ideas

• The script creates traditional Renko open and close values using a configurable brick size.
• A close crossing above the open triggers a long entry, while a crossing below triggers a short entry.
• Entries use configurable trailing exits and a date condition.
• The document provides no quantified backtest evidence, and comments identify repainting as a concern.
• Brick-size sensitivity and live execution behavior are not assessed.

Tags

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