MT4 Renko EA based on H1/D1/W1 CLOSE?
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- High[], Low[] or Close[] for another timeframe?!
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Renko is not a time based chart, makes no sense to use anything but the most accurate prices.
I know, but having a higher TF close helps smooth out the chop. For example, on an H1 close chart with 10 pip boxes, if PA moves up 50 pips in 1 hour but then move back down 25 pips for a total gain of 25 pips by the hour's close, then the Renko would only print 2 completed blocks. It would greatly help in filtering the sporadic intraday bursts like that.
Does anyone know where I can find a Renko EA that will draw Renko blocks based on the CLOSE of the H1/D1/W1 timeframes instead of the M1 timeframe which pretty much every Renko EA uses? I've searched everywhere and can't seem to find one. Or can someone point me towards how to modify an existing M1 Renko EA and add a H1/D1/W1 close option? Thanks!!
You could get close to this by using an ATR based approach.
Use an ATR for your block size that's equal to the timeframe that you want.
You could get close to this by using an ATR based approach.
Use an ATR for your block size that's equal to the timeframe that you want.
when I place renko chart on M1, and then change it to H1 or D1, the smooth pattern is visible on renko charts.
But as I leave it for running, it shows same as M1 blocks. The smoothness that I saw while plotting is gone.
Can I have any idea how to keep ir running smooth as when I plot it on H1 or D1?
when I place renko chart on M1, and then change it to H1 or D1, the smooth pattern is visible on renko charts.
But as I leave it for running, it shows same as M1 blocks. The smoothness that I saw while plotting is gone.
Can I have any idea how to keep ir running smooth as when I plot it on H1 or D1?
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