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Renko Builder GLX1

Published: 27 March 2024

Current version: 1.2

Renko Builder GLX1

Utilities
Eranga Thilina Dhanushka Gallage
Version: 1.2
Activations: 5

GLX1 Renko Builder Expert Advisor (EA) can create the Renko bar charts on any symbol. The Renko charts are generated as real-time custom symbol charts which can be further used for technical analysis with any MT5 compatible indicator.

Find the free GLX1 Renko Euro Expert Advisor from here. https://www.mql5.com/en/market/product/115074

Included Features:

Truly responsive Renko Charting on a custom symbol chart
Accurate automatic live chart update
Ability to attach any MT5 indicator
Ability to enable/disable Renko bar wicks
Ability setup Renko bar size using the ATR percentage or Fixed size

Input Parameters:

Renko Mode : ATR_BASED_SIZE or FIXED_SIZE mode used to calculate bar size
History days count: Number of back days to generate Renko bars
Enable Renko Wicks : To enable/disable Renko bar wicks
ATR Time frame : Time frame used to calculate the Average True Range(ATR) indicator value
ATR Period : Length of the Average True Range (ATR) indicator
ATR Percentage : Percentage of the Average True Range (ATR) value used to calculate the Renko bar size
Fixed Size : Renko bar size if the Renko Mode is FIXED_SIZE

How to Use:

Open any symbol chart on MT5 platform and change the time frame to M1
Add the GLX1 Renko Builder Expert Advisor (EA) to that chart
Change the input parameters as you need.
After submission, It will open a new custom symbol chart with Renko bars.

Pro Tips:

The generated Renko chart is a custom symbol chart which means the symbol is not compatible with the list of symbols available in the Broker's server. You can resolve this situation by supplying the original symbol name when placing trades on the generated Renko chart. If you need to perform automated trading using a Expert Advisor (EA) on the generated Renko chart, make sure to supply the correct symbol name in MQL5 EA code.

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