Renko Binary wave
Plot this Indicator in it's own window 

K:=1.896; 
RenkoLine:=If(Cum(1)=1,CLOSE, 
If(PREV>=0, 
If(CLOSE<PREV-2*K,-(PREV-2*K), 
Floor(Max(C-PREV,0)/K)*K+PREV), 
If(CLOSE>Abs(PREV)+2*K,-PREV+2*K, 
Floor(Max(Abs(PREV)-C,0)/K)*K+PREV))); 
RL:=Abs(RenkoLine); 
RL; 

BW:=If(Cum(1)=1,0, 
If(RL>Ref(RL,-1),+1,If(RL<Ref(RL,-1),-1,PREV))); 
BW;0;