NC Renko Reversals Description
NC Renko Reversals is a Renko reversal indicator for NinjaTrader 8, and it comes with the full C# source code. I built it for NinzaRenko charts. On Renko, a reversal bar after a long run of bricks is a natural swing point, so the idea is simple: remember where those swings were, and flag the moment price breaks through one. It doesn't predict anything; it just tells you, with fixed rules, when a swing level was broken.
How it works. A swing high is found when price makes a run of at least Min Swing Size Bars (5 by default) with no down bar in it, and then a down bar prints. The high of that first down bar becomes the swing high. A swing low is the mirror: at least 5 bars with no up bar, then an up bar, and its low becomes the swing low. Each new qualifying reversal replaces the old level. It only looks at whether each bar closed above or below its open, so brick size doesn't matter.
What you see. The swing high is a green dashed level and the swing low a red one; both appear once the first of each has formed. When a bar closes above the swing high, after closing at or below it on the bar before, a green up arrow appears above it. A close below the swing low gives a red down arrow below the bar. Plot Signals switches the arrows on or off, and Arrow Size (14) sets their size. It always calculates on bar close.
How to use it. Raise Min Swing Size Bars to keep only the longest runs, for fewer levels and fewer signals; lower it for more of both. On Renko each brick is a fixed price step, so a 5-brick run also works as a minimum swing size in price. Watch how price behaves at the levels, and use the arrows as a trigger for your own rules.
Make it yours. Like all my frameworks, it comes with a code review video that explains how the levels and signals are built. Use it as is, learn from the code, or change it yourself or with AI like Claude. A hidden Signal plot (1 up, -1 down, 0 otherwise) can drive a strategy or a signal tool like Bloodhound. You could add an alert on each signal, keep a list of past levels instead of only the latest, or require a minimum distance between the close and the level. Swing detection, levels and signals each sit in their own small method, so it's an easy place to start. Have some good trades!
