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ATRenko Indicator
ATRenko is an indicator and I think it works better on the daily chart. Indicator draws 2 lines; Upper band line and lower band line.
If the price is between two bands, it means that there is no trend or the previous trend is continuing and there is a consolidation process.
There are two indicator inputs that can be changed by the user.
1. ATRenko Period
It is 10 by default. It determines in how many bars the calculation will be made in the selected timeframe.
2. Katrenko; By default it is 1.50 and specifies the coefficient to be applied to the calculated data.
You can find the best fit entries by trying different ATRenkoPeriods and Katrenko on different timeframes and different instruments.
