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Median and Turbo renko indicator bundle

Robust median Renko style indicator for creating custom charts resembling Median Renko, Mean Renko, Turbo Renko and Better Renko candles as well as vanilla Renko with wicks plus PointO charts. This all in one package provides all of the signals needed by day traders, scalpers and even long term traders.

These include:

  • The indicator is an overlay on the main chart so it is possible to utilize one-click trading and order manipulation directly on the custom charts. Visual order placement is also possible,
  • Price level indications for current bar close levels, which are conveniently displayed to the right of the current bar,
  • Audio, smartphone notifications and text alerts for new bar open events and/or reversals (different audio files can be assigned for bearish and bullish reversals),
  • Live display of current Bid & Ask price values,
  • Convenient display of current bar's open date/time along with bar size and retracement factor information,
  • Color indication of last day's bar for easy history assessment,
  • Each bar has its own info regarding the bar's Open, Low, High, Close values, as well as the Tick Volume and Bar open time for use by EAs (saved as double in indicator's buffer and available via dedicated Data Window).
  • A dedicated data window is displayed when left-clicking a Renko bar while holding down the CTRL key.

The indicator's settings include:

  • Bars size (in ticks)
  • Retracement factor (0.01 to 1.00)
  • Show wicks (True/False)
  • Symmetrical reversals (True/False)
  • Start building chart from date/time (DateTime or '1970.01.01 00:00:00' for all available data)
  • Synchronize first bar's open on a new day (True/False)
  • Show current bar's close projections (True/False) + bullish bar projection color and bearish bar projection color
  • Display current bar's open time along with bar size and retracement factor (True/False) + Current bar's open time info color
  • Play sound on new bar (True/False)
  • Only play sound on reversals (True/False)
  • Display alert window with new bar info (True/False)
  • Send new bar info push notifications to smartphone via Metatrader App
  • Use sound file for bullish bar close (.WAV sound file located in MT5 Sounds folder)
  • Use sound file for bearish bar close (.WAV sound file located in MT5 Sounds folder)
  • Show first MA
  • 1st MA period
  • 1st MA method
  • 1st MA apply to
  • 1st MA shift
  • Show second MA
  • 2nd MA period
  • 2nd MA method
  • 2nd MA apply to
  • 2nd MA shift
  • Show Channel (None, Donchian Channel, Bollinger Bands, Super Trend)
  • Donchian Channel period of averaging
  • Bollinger Bands apply to
  • Bollinger Bands period
  • Bollinger Bands deviations
  • Super Trend period
  • Super Trend multiplier
  • Indicator used in EA via iCustom() (True/False) - Set this to True only when calling the indicator from an EA, another indicator or Script.

The first three settings are used for defining the type of chart that should be displayed and the next three are utilized for optional synchronization of chart's starting point for maximum consistency. The following settings are used for turning ON/OFF various information on the chart to suit individual needs. The next five settings are used for custom alerting of new bars and new bar reversals.

Finally the last settings enable the trader to add 2 custom moving averages and a Donchian Channel, Bollinger Bands or Super Trend to perform technical studies directly on the Median Renko or Turbo Renko charts.

Below, you'll find the settings for creating several commonly utilized charting types:

Median Renko
Vanilla Renko with wicks Turbo Renko Hybrid Renko PointO
Retracement factor = 0.5
Symmetrical reversals = TRUE
Retracement factor = 1.00
Symmetrical reversals = TRUE
Retracement factor = 0.25
Symmetrical reversals = TRUE
Retracement factor = 0.25
Symmetrical reversals = FALSE
Retracement factor = 1.00
Symmetrical reversals = FALS
2017.08.31 16:37 

Great indicator, documentation and support. We have been developing an EA based on this indicator and it's presenting great results!

Carlos Giunti
2017.08.24 22:54 

Great indicator, Amazing support from Artur Zas,

Very responsive. A+++++

Renat Safin
2017.08.11 15:50 

A good implementation of the Renko, but without the histograms of tick and real volume it is not very practical.

2017.07.21 21:23 


2017.04.24 23:44 

Great indicator, the developer is very responsive.

2017.04.24 22:52 

The developer is very responsive to feedback and has made many improvements in the short time.

Version 1.47 - 2017.06.06
Bug fixes
Version 1.46 - 2017.04.10
Added "shift" parameters to Moving Averages
Added "SuperTrend" channel indicator
Added support for adding external indicators (via API)
Version 1.45 - 2017.03.23
Changed: Data window is now displayed when holding CTRL + Left Mouse button
Added: Display of bar size / retracement setting info on chart
Added: Extra padding space on top & bottom of chart
Added: Possibility of changing bar colors for gap filling bars
Fixed: Price projections for certain Renko configurations
Version 1.44 - 2017.03.06
Added Bollinger Bands technical indicator
Added Renko Data Window (press and hold the left mouse button on a selected Renko bar)
Version 1.43 - 2017.02.24
Bug fix: Visual backtest now works correctly when indicator is used in an EA
Added new input: Indicator used in EA by iCustom() (true/false) (Prevents incorrect shifting of objects on chart when indicator used in an EA).
Version 1.42 - 2017.02.17
Added sending new bar/new reversal bar notifications to a smartphone via MetaTrader app.
Version 1.41 - 2016.07.27
Added: New "Show wicks" (true/false) option for enabling/disabling display of wicks on candles.
Changed: Code optimization.
Version 1.40 - 2016.07.13
Added two new chart types:
- PointO (Retracement = 1.00, Symmetrical reversals = FALSE)
- Renko with wicks (Retracement = 1.00, Symmetrical reversals = TRUE)

All custom chart types are now displayed as an overlay on the main chart, so you can use visual order placement and modification directly on the chart.
Version 1.30 - 2016.06.03
Added 2 moving averages and Donchian Channel technical indicators
Version 1.2 - 2016.05.26
Bug fix of "Buffer overrun" on indicator startup when starting MT5 after few days of inactivity.