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7805
Rating:
votes: 26
Published:
2014.03.06 14:25
Updated:
2016.11.22 07:32
renko_v2.mq5 (10.41 KB)view

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

Figure 1. Indicator Renko_v2

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

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