Solar Wind RK

Overview

Solar Wind RK is a renko-optimized version of the Solar Wind indicator.

In this variant, we eliminate the High & Low prices and only focus on the Close price in the calculation of the reference price. ninZaATR is also replaced by Tick as the unit of offset. Hence, the Trend Vector and Trailing Stop plots of Solar Wind RK perfectly match with the stair-step movements of ninZaRenko or KingRenko$ bars. This is an important adaptation of Solar Wind to special characteristics of renko bars, which improves its performance on ninZaRenko and KingRenko$.

With the important changes noted above, Solar Wind RK allows you to determine exactly how many adverse bars a prevailing trend can tolerate. The default setting of Solar Wind RK is 60 ticks for Trailing Stop, which is optimized for ninZaRenko or KingRenko$ 12/4. This setting guarantees that on a ninZaRenko or KingRenko$ 12/4 chart, an uptrend can tolerate 11 down bars in a row, and a downtrend can tolerate 11 up bars in a row.

Solar Wind RK is perfect for not only pro traders but also beginners who love renko bars and wish to get started with trend trading & market reading.

Dedicated NinjaScript signals:

• Signal_Trend:
  • 2 = uptrend strong
  • 1 = uptrend weak
  • -1 = downtrend weak
  • -2 = downtrend strong
• Signal_Trade:
  • 3 = uptrend strengthening
  • 2 = uptrend pullback
  • 1 = uptrend start
  • 0 = no signal
  • -1 = downtrend start
  • -2 = downtrend pullback
  • -3 = downtrend strengthening
• Signal_Wave (positive values for an uptrend, negative values for a downtrend):
  • ±1 = wave #1
  • ±2 = wave #2
  • ±3 = wave #3
  • …

Media

Solar Wind RK

11 photos

Software Changelog

• 08 Dec 2022 – The indicator was released (built new).