Maybe because Renko neglects time ?
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.
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.
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
- www.mql5.com
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
Sergey Golubev, 2018.01.19 16:44
Renko
The forum
- Heiken_Ashi_Ma_T3 indicator for Mr.Nims, Renko Ashi Scalping System thread
- Are Renko charts more profitable? - the thread with the
information and indicators to download
- Renko Bar |Day Trading | What are Renko Bars | How do Renko Bars Work - the post with video
- Renko (extraction from Achelis - Technical Analysis from A to Z) - the post with mini-article
- How to Use Renko Bricks and Moving Averages to Find Trades - the post
- The 3 Step EMA and Renko Strategy for Trading Trends - the post with mini-article
- Trading Trends with Renko Charts - the post with mini-article
- Renko 2.0 - indicator for MetaTrader 5
- Renko 2.0 ATR - expert for MetaTrader 5
- Renko 2.0 Offline - expert for MetaTrader 5
- AdaptiveRenko - indicator for MetaTrader 5
- Renko EA - expert for MetaTrader 4
- Renko_v2 - indicator for MetaTrader 5
- Renko Scalper - expert for MetaTrader 4
- Predictor Marks for Renko, Mean Renko and Range Bars - indicator for MetaTrader 4
- Renko Charts - indicator for MetaTrader 4
- Renko - indicator for MetaTrader 5
- Renko_v1 - indicator for MetaTrader 4
- Renko Charts - expert for MetaTrader 4
- Tipu Renko Live - indicator for MetaTrader 4
- Renko Live Charts v4.13 - expert for MetaTrader 4
- Renko Chart from ticks (Most precise method) - expert for MetaTrader 4
- Renko Range Detector - indicator for MetaTrader 4
- RenkoShade2 - Draws Renko boxes in normal TF - indicator for MetaTrader 4
- Renko Indicator - indicator for MetaTrader 4
Articles
- Indicator for Renko charting - MetaTrader 5 article
- How to create an indicator of non-standard charts for MetaTrader Market - MetaTrader 4 article
- Synthetic Bars - A New Dimension to Displaying Graphical Information on Prices - MetaTrader 4 article
- Indicator for Constructing a Three Line Break Chart - MetaTrader 5 article
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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.
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.
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