Pseudo Renko-Linie + TurtleTrader S&R (TradingFrog)

📊 Pseudo Renko + TurtleTrader S&R Indicator - Complete Analysis
🎯 Overview: What is this Indicator?

This Pine Script v6 indicator combines two powerful trading concepts:

🧱 Pseudo-Renko System - Filters market noise through artificial Renko blocks
🐢 TurtleTrader Support & Resistance - Identifies precise resistance lines and generates trading signals
⚠️ IMPORTANT: This is a PSEUDO-Renko System, not real Renko charts! The indicator simulates Renko logic on normal candlestick charts.

🧱 The Pseudo-Renko System in Detail
What is Pseudo-Renko?
Not a real Renko chart, but a simulation on normal candles
Filters market noise through defined box sizes
Generates clear trend signals without time factor
Visualizes price movements in uniform blocks
🔧 Renko Block Functions:

📈 Upward Blocks:
Kopieren
if close >= renko + boxsize
renko := renko + boxsize
dir := 1 // Upward trend

📉 Downward Blocks:
Kopieren
if close <= renko - boxsize
renko := renko - boxsize
dir := -1 // Downward trend

🎨 Visual Representation:
Green Blocks = Upward movement
Red Blocks = Downward movement
Dynamic Renko Line = Current trend level
Configurable transparency and borders
🐢 TurtleTrader Support & Resistance System
What are Turtle Lines?
The TurtleTrader method uses separate Renko logic to calculate:

Support Lines (support levels)
Resistance Lines (resistance levels)
🔍 Separate Renko Calculation for S&R:

// SEPARATE Turtle-Renko with own box size
turtle_boxsize = 15 // Independent from main Renko size

📊 Dual-Level System:
🔴 Major Support & Resistance:
Calculation: Highest/Lowest values of last 20 Renko blocks
Usage: Main resistance lines for larger movements
Color: Red (resistance) / Green (support)
🟡 Minor Support & Resistance:
Calculation: Highest/Lowest values of last 10 Renko blocks
Usage: Short-term resistance lines
Color: Orange (resistance) / Blue (support)
🚨 Signal Generation System
💥 Breakout Signals:

📈 Resistance Breakout:

resistanceBreakout = close > prev_resistance_major and close[1] <= prev_resistance_major
Trigger: Price breaks through resistance line upward
Signal: "BREAKOUT RESISTANCE ↗"
Color: Lime/Green

📉 Support Breakdown:
supportBreakout = close < prev_support_major and close[1] >= prev_support_major
Trigger: Price breaks through support line downward
Signal: "BREAKDOWN SUPPORT ↘"
Color: Red
👆 Touch Signals:
Resistance Touch: Price approaches resistance
Support Touch: Price approaches support
Tolerance: Configurable zone around S&R lines
🎯 Intelligent Filtering:
if use_renko_filter
resistanceBreakout := resistanceBreakout and dir == 1
supportBreakout := supportBreakout and dir == -1
Only signals in Renko trend direction are displayed!

🌈 S&R Zone System
What are S&R Zones?
Areas around resistance lines instead of just exact lines
Realistic representation of support/resistance
Configurable width (% of box size)
🎨 Zone Visualization:
Major Zones: Thicker, less transparent areas
Minor Zones: Thinner, more transparent areas
Color Coding: Red/Green for Major, Orange/Blue for Minor
📊 Live Dashboard Features
📈 Real-time Market Data:

// Distance to resistance
rDistance = ((resistance_major - close) / close) * 100

// Distance to support
sDistance = ((close - support_major) / close) * 100
🎯 Dashboard Contents:
Major Resistance/Support Values
Percentage distances to S&R lines
Turtle Box Size (currently used)
S&R Periods (Entry/Exit)
Current Renko Trend (Up/Down/Neutral)
Breakout Statistics (Total count)

🚨 Warning System:
Orange coloring when distance <1% to S&R lines
Trend display with arrows and colors
⚙️ Configuration Options

🧱 Renko Settings:
Box Size: 10 (default for main Renko)
Maximum Blocks: 1000
Colors: Up/Down configurable
Transparency: Individually adjustable

🐢 Turtle Parameters:
Separate Box Size: 15 (for S&R calculation)
Entry Period: 20 (Major S&R)
Exit Period: 10 (Minor S&R)

🎨 Visual Customizations:
Line Colors: All elements individually
Line Widths: 1-10 pixels
Line Styles: Solid/Dashed/Dotted
Transparency: 0-100% for all elements
🎯 Practical Application

📈 Long Signals:
Renko Trend: Upward (green blocks)
Signal: "BREAKOUT RESISTANCE ↗"
Confirmation: Price above Major Resistance

📉 Short Signals:
Renko Trend: Downward (red blocks)
Signal: "BREAKDOWN SUPPORT ↘"
Confirmation: Price below Major Support

⚠️ Caution Signals:
Touch Labels: Price approaches S&R
Orange Distances: <1% to important levels
Trend Change: Renko direction changes
🔥 Unique Strengths
💡 Dual-Renko System:
Main Renko: For trend and visualization
Turtle Renko: For precise S&R calculation
Independent box sizes for optimal adaptation

🎯 Precise Signals:
Trend-filtered breakouts
Touch detection before breakouts
Statistical evaluation

📊 Professional Appearance:
Fully customizable
Clear dashboard
Consistent color coding

🚀 Key Features Summary

🧱 Pseudo-Renko Core:
Simulates Renko logic on candlestick charts
Noise filtering through box-based price movements
Visual blocks showing trend direction
Dynamic trend line following Renko levels

🐢 TurtleTrader S&R Engine:
Separate calculation logic for support/resistance
Dual timeframe approach (Major/Minor levels)
Automatic level updates based on Renko blocks
Zone-based analysis instead of exact lines

🚨 Advanced Signal System:
Breakout detection with trend confirmation
Touch alerts for early warnings
Statistical tracking of all signals
Intelligent filtering to reduce false signals

📊 Professional Dashboard:
Real-time market metrics
Distance calculations to key levels
Trend status with visual indicators
Customizable positioning and styling
🎯 Trading Strategy Integration

📈 Entry Strategies:
Breakout Trading:
Wait for Renko trend confirmation
Look for breakout signal above/below S&R
Enter on signal with appropriate risk management
Use opposite S&R as profit target
Reversal Trading:
Watch for touch signals at S&R levels
Confirm with Renko trend change
Enter on trend reversal confirmation
Use tight stops below/above S&R zones

📉 Risk Management:
S&R zones provide natural stop levels
Distance indicators help with position sizing
Trend confirmation reduces false entries
Statistical tracking improves strategy refinement
🔧 Technical Implementation
🧮 Calculation Engine:
Kopieren
// Dual Renko systems running in parallel
var float renko = na // Main visualization
var float turtle_renko = na // S&R calculation

// Independent box sizes
boxsize = 10 // Visual Renko
turtle_boxsize = 15 // S&R Renko
https://www.tradingview.com/x/tsIau9PB/📊 Data Management:
Array-based storage for historical S&R levels
Dynamic memory management to prevent overflow
Efficient calculation updates only on Renko changes
Real-time plotting with optimized performance
🎨 Rendering System:
Box objects for visual Renko blocks
Plot functions for S&R lines and zones
Label system for signals and touches
Table widget for dashboard display
🚀 Conclusion
This indicator represents advanced trading technology that:

✅ Implements Pseudo-Renko logic for noise filtering
✅ Uses TurtleTrader methodology for precise S&R lines
✅ Generates intelligent signals with trend filtering
✅ Offers complete customization for any trading style
✅ Provides professional visualization with live dashboard
✅ Combines multiple timeframes in one coherent system
✅ Delivers actionable insights for both breakout and reversal trading

This is trading technology at its finest! 🎯💪

The combination of Pseudo-Renko trend filtering with TurtleTrader S&R methodology creates a powerful tool that helps traders:

Identify high-probability setups
Filter out market noise
Time entries and exits precisely
Manage risk effectively
Track performance systematically
Perfect for both novice and professional traders! 📈🚀