Renko Wicks is a high-performance indicator designed for use with Renko charts on the cTrader platform. It calculates and displays dynamic wicks on Renko bricks by analyzing tick data within each bar’s formation period. Specifically, the indicator determines the Up Wick as the lowest price recorded between the bar’s open and close times, and the Down Wick as the highest price in the same interval. This approach provides a detailed view of price extremes during each Renko bar formation.
Users can customize wick colors dynamically by adjusting the Bull/Bear Outline Color settings in the chart’s Color Options. The indicator incorporates asynchronous tick data collection and optimized wick calculation methods for improved performance. It is not a custom chart but overlays trendlines on Renko bricks based on the described logic.
Renko Wicks is open source, with code available on GitHub, and integrates improvements related to order flow aggregation. It complements other volume and order flow indicators available on the cTrader Store. The indicator supports detailed price action analysis on Renko charts, aiding traders in visualizing price extremes within each brick formation period.