RenkoGurus
  • Getting Started
    • What is TradingView?
    • How to setup RenkoGurus Indicators
    • How to get updates
    • How to setup alerts in TradingView
  • Indicators
    • RenkoGurus-Consolidation & Breakout Filter
      • Signals
      • Settings
      • Alerts
    • RenkoGurus-SmartTrend
      • Signals
      • Settings
      • Alerts
    • RenkoGurus-SmartChannel
      • Signals
      • Settings
      • Alerts
    • RenkoGurus-SmartMoney
      • Signals
      • Settings
      • Alerts
    • RenkoGurus-PowerMeter
      • Signals
      • Settings
      • Alerts
  • RenkoGurus-PropBot-User-Guide
    • Onboarding
    • Non VPS Prop Bot
      • Tradovate/NinjaTrader Prop Bot
        • APIs & Payloads
      • TopstepX PropBot
        • APIs & Payloads
    • VPS Prop Bot
      • RenkoGurus VPS Dashoard
        • Bot Status Panel
        • Customer Info Panel
        • Actions Panel
        • Trade Command Panel
        • Window Settings Panel
        • Trading Hours Settings (GMT) Panel
        • Alerts Configuration Panel
      • RenkoGurus VPS Metrics Dashboard
Powered by GitBook
On this page
  1. Indicators
  2. RenkoGurus-PowerMeter

Settings

PreviousSignalsNextAlerts

Last updated 18 days ago

Setting

Description

Default

Strength

Controls the smoothing of the signal line (volatility strength)

12

Direction

Determines the DI+ / DI- window for directional movement

7

Base

Lower strength threshold used to define a non-trending state

20

Ceiling

Upper strength threshold used to detect trending conditions

35

Profit Taker Bars

Number of bars after which to trigger a profit-taking exit

1

📌 Notes

  • Use the signal alerts (goLong, goShort, longExit, etc.) to automate trade execution.

  • Combine with SmartMoney zones, Premium/Discount levels, or other indicators for confirmation.

  • Filter band color is useful to avoid signals in ranging or choppy markets.

Would you like an additional section that describes how to trade using this indicator in conjunction with Premium and Discount Zones?