Golden Renko Signals: A Smart Indicator for Clear and Confident Trades

If you don’t have a TradingView account yet, After registering, use the link below to access the Golden Renko Signals indicator.

If you’re a trader who prefers price action-based setups with clean and logical entries, the Golden Renko Signals indicator might just be what you’re looking for. Built on a simple yet powerful concept of Renko charting and RSI-based confirmation, this strategy filters out the noise and brings forward high-probability trade setups. The result? A smoother trading experience across all markets—be it forex, stocks, or crypto.

In this article, we’ll dive deep into what makes the Golden Renko Signals indicator special, how it works on TradingView, and how you can use it with Pine Script for better automation and custom setups.

What is the Golden Renko Signals Indicator?

The Golden Renko Signals indicator is designed to help traders spot accurate trend reversals using a combination of Renko-based double top and bottom formations with RSI (Relative Strength Index) as a validation filter. It provides clear, rule-based BUY and SELL signals, removing emotional decision-making and increasing the odds of success.

✅ BUY Signal Criteria

• Wait for a Double Bottom pattern—but the second bottom must not go lower than the first.
• Ensure RSI is oversold at the first bottom.

✅ SELL Signal Criteria

• Look for a Double Top pattern—but the second top must not go higher than the first.
• RSI must be overbought at the first top.

This simple set of rules brings disciplined entries to your trades, giving you a structured edge in volatile markets.

How This Indicator Works on TradingView: Step-by-Step Guide

1. Add the Indicator to Your Chart

Once you have a TradingView account, you can add the Golden Renko Signals script either from the public library (if shared) or by manually pasting the Pine Script code into your editor. Once applied, the chart will display Renko-style signals along with clear arrows or alerts for BUY and SELL conditions.

2. Wait for Valid Price Structure

The indicator automatically identifies double tops and bottoms. Visually, you’ll see two peaks or troughs forming on the chart—where the second fails to breach the level of the first. This is your initial signal to prepare for an entry.

3. Confirm with RSI

The smart part of this system is the RSI filter. It ensures you’re not entering trades blindly. A double bottom is only valid if RSI is below 30 at the first bottom. Similarly, a double top needs RSI above 70 at the first top. This avoids premature signals and keeps your trades high probability.

4. Trade with Confidence

Once both the price pattern and RSI condition are met, the indicator automatically triggers a signal—highlighted on your TradingView chart. You can also set alerts so you never miss an opportunity.

Why Use This Strategy?

Here’s why the Golden Renko Signals can be a game-changer:

• 🧠 Price Action + Indicator Combo: It blends raw price action (double tops/bottoms) with smart RSI confirmation.
• ⚙️ Customizable with Pine Script: You can tweak sensitivity, RSI levels, and even add moving average filters for enhanced accuracy.
• 🧘‍♂️ Eliminates Noise: Renko-style filtering removes choppy market signals and focuses on structure.
• 💡 Suitable for All Markets: Works across stocks, forex, indices, and crypto.
• 🔔 Automated Alerts: Save time with real-time alerts on TradingView when conditions are met.

Using Pine Script for Automation

The best part? Since it’s built using Pine Script, you can:

• Customize entry and exit conditions
• Add stop-loss/take-profit levels
• Integrate with other indicators like Moving Averages or MACD
• Export signals to third-party platforms or bots

This flexibility means you can use the base logic of Golden Renko Signals and build your own algo trading strategy or backtesting framework within TradingView.

Conclusion

The Golden Renko Signals indicator simplifies trading with a disciplined, logic-based approach. By combining price structure and RSI filters, it offers reliable and timely trade signals. Whether you’re a beginner or a seasoned pro, this indicator helps you trade confidently on TradingView, supported by smart alerts and customizable logic through Pine Script.

Instead of reacting to noise, trade with clarity. Let the Golden Renko Signals be your new edge in the markets.

Disclaimer

The Golden Renko Signals strategy is meant for educational purposes only. Trading involves substantial risk, and past performance does not guarantee future results. Always conduct your own research and consult a professional advisor before making any trading decisions.

Contact us at +91 7620658346 for access to this indicator. We offer algo development for TradingView indicators, MT4/MT5, and trading bots.
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