CodeBaseSections
Watch how to download trading robots for free
Find us on Telegram!
Join our fan page
Interesting script?
So post a link to it -
let others appraise it
You liked the script? Try it in the MetaTrader 5 terminal
to pocket
Indicators

GDS Renko Reversal Context - indicator for MetaTrader 5

Andrey Goida
Andrey Goida

Andrey Goida

3 (12)
MT5 developer focused on XAUUSD, Renko tools, and structured trading systems.
Building practical indicators, panels, and research-driven solutions for traders who value clarity, logic, and disciplined execution.
29 products 4 codes 1 topic 4 comments
Views:
108
Rating:
(1)
Published:
Download as ZIP How to download code from MetaEditor
MQL5 Freelance Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

GDS Renko Reversal Context

What it shows

-------------
- Current Renko direction: UP or DOWN
- Number of consecutive confirmed bricks in the current run
- Fixed brick size
- Last confirmed Renko close
- Price level where the opposite Renko brick becomes confirmed
- Current market distance to that reversal level, measured in bricks

How it works
------------
The indicator builds a small classic Renko model directly from the symbol's tick history.

Continuation rule:
A new brick in the current direction is confirmed after price moves one full brick beyond the last Renko close.

Reversal rule:
A reversal is confirmed only after price moves two full brick sizes against the current direction.

For an UP run:
    reversal = last Renko close - 2 × brick size

For a DOWN run:
    reversal = last Renko close + 2 × brick size

The dashed horizontal line marks that level.

Why this indicator exists
-------------------------
A common Renko mistake is to treat every counter-move as a reversal. In classic Renko that is not true. Price must reach the two-brick reversal threshold before the opposite brick is confirmed.

This indicator is intentionally small. It does not generate BUY/SELL signals and does not try to predict the next brick. It only shows the current Renko context.

Inputs
------
InpBrickPoints       Brick size in symbol points.
InpHistoryTicks      Number of recent ticks used to initialize the Renko sequence.
InpShowReversalLine  Show/hide the reversal level on the chart.
InpX / InpY          Panel position from the upper-right chart corner.
Color inputs         Display colors only.

Notes
-----
- The source is self-contained: no external .mqh libraries are required.
- The sequence is built from Bid ticks when Bid is available; Last is used as fallback.
- Tick history availability depends on the broker/server and local MT5 history.
- This is an educational/context indicator, not a trading system.

Suggested screenshot
--------------------
Use a clean XAUUSD chart with a 100- or 500-point brick size. Keep the panel visible in the upper-right corner and the dashed reversal level clearly visible on price.

Suggested CodeBase category
---------------------------
Indicators / Examples / Renko
IronHawk Fibonacci Structure Map IronHawk Fibonacci Structure Map

Free MT5 indicator that automatically maps Fibonacci levels across multiple timeframes and highlights confluence zones, market structure, premium/discount areas and key price reactions.

Market Session Separator Indicator Market Session Separator Indicator

Marks the start/end of up to three trading sessions (Asian, London, New York, or any custom windows) with vertical separators and/or shaded background boxes, repeated daily across a rolling recent window. Purely visual — no calculations, no signals, just clean session boundaries.

GDS Renko Bricks GDS Renko Bricks

A simple real-time classic Renko chart for MetaTrader 5. Set the brick size and the indicator builds equal-width Renko bricks directly from tick data. No offline charts, custom symbols or external libraries are required.

GDS Renko Fast Demo EA GDS Renko Fast Demo EA

GDS Renko Fast Demo is a small educational Expert Advisor for MetaTrader 5. It demonstrates how two internal fixed-size Renko streams can be used in a simple mechanical trading example without offline charts or custom symbols.