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Views:

16621

Rating:

(30)

Published:

6 March 2014, 14:25

Updated:

22 November 2016, 07:32

renko_v2.mq5 (10.41 KB) view

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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

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/2093

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Renko_v2 - indicator for MetaTrader 5