Real author:

TrendLaboratory Ltd

The indicator implements a breakthrough system using the Renko channel. When price exits the gray channel, the bar color changes to the color corresponding to trend direction.

Green for the growth of a financial asset, red color - fall. Bright colors denote coincidence of trend direction and direction of a candlestick. Dark colors correspond to the situation when the direction of a candlestick is opposite to trend.

Figure 1. Indicator Renko_v2