Renko offline time frame

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franko88
77
franko88  
What is the difference between M2 and M7 off line charts for example? I compared the two and seem to be identical..
Marco vd Heijden
Moderator
12380
Marco vd Heijden  
Maybe because Renko neglects time ? 
franko88
77
franko88  
Marco vd Heijden:
Maybe because Renko neglects time ? 
yes, I know this but my question is when I open offline charts with a tool that convert regular data in renko bricks, i can choose M2, M7 or other "time frame" but what is actually the difference from M2 and M7 offline chart for example?
Marco vd Heijden
Moderator
12380
Marco vd Heijden  

Not much for a Renko chart because it doesn't use time.

It draws bricks on pip movement so there isn't really a time frame like you see in regular charts.

franko88
77
franko88  
Marco vd Heijden:

Not much for a Renko chart because it doesn't use time.

It draws bricks on pip movement so there isn't really a time frame like you see in regular charts.

thanks Marco
Prince M. Golds
18
Prince M. Golds  
Can someone please share a decent renko indicator for MT4, I can do better with Renko Charts but can't find them on MT4 platform.
Marco vd Heijden
Moderator
12380
Marco vd Heijden  
Prince M. Golds:
Can someone please share a decent renko indicator for MT4, I can do better with Renko Charts but can't find them on MT4 platform.

Here you go: https://www.mql5.com/en/code

MQL5 Code Base
MQL5 Code Base
  • www.mql5.com
This indicator uses the open price for the day, and computes the percent change for that day. Use on any chart TF up to and including D1. This class was developed to exchange data between MetaTrader 5 and CSV files. It converts the strings read from the CSV file to double and integer values depending of the type of the columns. Two producers...
Sergey Golubev
Moderator
111252
Sergey Golubev  
Prince M. Golds:
Can someone please share a decent renko indicator for MT4, I can do better with Renko Charts but can't find them on MT4 platform.

Forum on trading, automated trading systems and testing trading strategies

Usefull links/threads/tools

Sergey Golubev, 2018.01.19 16:44

Renko


The forum

  1. Heiken_Ashi_Ma_T3 indicator for Mr.Nims, Renko Ashi Scalping System thread 
  2. Are Renko charts more profitable? - the thread with the information and indicators to download
  3. Renko Bar |Day Trading | What are Renko Bars | How do Renko Bars Work - the post with video
  4. Renko (extraction from Achelis - Technical Analysis from A to Z) - the post with mini-article 
  5. How to Use Renko Bricks and Moving Averages to Find Trades - the post 
  6. The 3 Step EMA and Renko Strategy for Trading Trends - the post with mini-article 
  7. Trading Trends with Renko Charts - the post with mini-article
CodeBase

  1. Renko 2.0 - indicator for MetaTrader 5 
  2. Renko 2.0 ATR - expert for MetaTrader 5 
  3. Renko 2.0 Offline - expert for MetaTrader 5
  4. AdaptiveRenko - indicator for MetaTrader 5
  5. Renko EA - expert for MetaTrader 4  
  6. Renko_v2 - indicator for MetaTrader 5
  7. Renko Scalper - expert for MetaTrader 4
  8. Predictor Marks for Renko, Mean Renko and Range Bars - indicator for MetaTrader 4 
  9. Renko Charts - indicator for MetaTrader 4 
  10. Renko - indicator for MetaTrader 5 
  11. Renko_v1 - indicator for MetaTrader 4
  12. Renko Charts - expert for MetaTrader 4
  13. Tipu Renko Live - indicator for MetaTrader 4  
  14. Renko Live Charts v4.13 - expert for MetaTrader 4
  15. Renko Chart from ticks (Most precise method) - expert for MetaTrader 4
  16. Renko Range Detector - indicator for MetaTrader 4 
  17. RenkoShade2 - Draws Renko boxes in normal TF - indicator for MetaTrader 4 
  18. Renko Indicator - indicator for MetaTrader 4

Articles

  1. Indicator for Renko charting - MetaTrader 5 article 
  2. How to create an indicator of non-standard charts for MetaTrader Market - MetaTrader 4 article 
  3. Synthetic Bars - A New Dimension to Displaying Graphical Information on Prices - MetaTrader 4 article 
  4. Indicator for Constructing a Three Line Break Chart - MetaTrader 5 article

============

Marco Montemari
5743
Marco Montemari  
franko88:
yes, I know this but my question is when I open offline charts with a tool that convert regular data in renko bricks, i can choose M2, M7 or other "time frame" but what is actually the difference from M2 and M7 offline chart for example?

It depends, I try to explain in a very simple way.


Let's suppose in a bar of  M8(instead of M7 to make it easier) we have a 90 pips bullish bar (from 1.1000 to 1.1090)
In RENKO we use for example a 10 pip brick heigth


In renko graph we will see 9 up bars (in TF M8)

The M8Bar contains 4 bars of M2. Let's suppose the bars have these height: 40 up,20 down,10 down,80 up

In renko graph we will see 4 up bars,2 down,9 up (in TF M2)

In offline mode, only OHLC values are used to draw bars, so a short Timeframe gives more details in a ranko graph but bars could not be enough depending of how many past bars you want to see and the brick height.

franko88
77
franko88  
Marco Montemari:

It depends, I try to explain in a very simple way.


Let's suppose in a bar of  M8(instead of M7 to make it easier) we have a 90 pips bullish bar (from 1.1000 to 1.1090)
In RENKO we use for example a 10 pip brick heigth


In renko graph we will see 9 up bars (in TF M8)

The M8Bar contains 4 bars of M2. Let's suppose the bars have these height: 40 up,20 down,10 down,80 up

In renko graph we will see 4 up bars,2 down,9 up (in TF M2)

In offline mode, only OHLC values are used to draw bars, so a short Timeframe gives more details in a ranko graph but bars could not be enough depending of how many past bars you want to see and the brick height.

Thanks very much, now it is much more clear.
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