Moving Average using custom data
If you use a indicator that just shows the Renko candles in a subwindow, then you might be able to use some built-in indicators (like moving averages) or even some custom indicators on it, but it will be tricky. It depends on how the Renko indicator is implemented and if the close price is accessible to the "Apply to:" option of "Previous Indicator's Data".
If not, then you have two options that I can think of:
- You will have to use a Renko generator for Custom Symbol charts which will the use of any built-in or normal custom indicators on the charts.
- or develop your own specialised indicator that combines the Renko and other required indicators for it.
If you use a indicator that just shows the Renko candles in a subwindow, then you might be able to use some built-in indicators (like moving averages) or even some custom indicators on it, but it will be tricky. It depends on how the Renko indicator is implemented and if the close price is accessible to the "Apply to:" option of "Previous Indicator's Data".
If not, then you have two options that I can think of:
- You will have to use a Renko generator for Custom Symbol charts which will the use of any built-in or normal custom indicators on the charts.
- or develop your own specialised indicator that combines the Renko and other required indicators for it.
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Hi,
On MT5
I am using a closed code renko indicator from which I can get the arrays of historical prices on a script.
As I need to calculate EMA's of these Renko prices and chart them (clearly different than the market prices) I am not sure
what would be the best method.
The standard SMA/EMA indicators I have seen on the market take as input market prices for a symbol, not calculated custom prices.
Does this mean that a new EMA indicator consuming the custom renko prices needs to be found/developed?
This must be a common problem, to plot MA's or EMA's of calculated price series, so probably something I am missing as to where
to find it. Thank you for any advice.