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Median and Turbo renko indicator bundle

4.38

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 Point-O charts. This all in one package provides all of the signals needed by day traders, scalpers, and even long-term traders.


Main characteristics

  • 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.
  • History calculated using real tick data.
  • Built-in technical studies: 3 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weighted using tick volume or real volume), Bollinger Bands, Donchian channel, Super Trend.
  • Price level indications for current bar close levels, which are conveniently displayed to the right of the current bar.
  • Optional display of monthly, weekly and daily pivot levels.
  • Optional display of daily R1, R2, R3 & S1, S2, S3 resistance & support levels for the current trading day.
  • Optional display of previous day's high, low and close levels.
  • Optional ATR based bar size calculation.
  • Optional first Renko open offset.
  • Audio, Push notifications and text alerts for new bar open events and/or reversals (different audio files can be assigned for bearish and bullish reversals).
  • 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.
  • Color markup of phantom Renko bars (gaps).
  • Each bar has its own info regarding the bar's Open, Low, High, Close values, as well as the Tick Volume, Real Volume (with breakdown of buy/sell 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.


Indicator Settings

  • Bars size (in points).
  • Retracement factor (0.01 to 1.00).
  • Asymmetrical reversals (true/false).
  • Show wicks (true/false).
  • ATR based bar size calculation (user editable ATR period and percent of daily ATR value used for bar size calculation).
  • Show history for defined number of days (plus current day).
  • Apply offset to first Renko (plus offset value).
  • Synchronize first bar's open on a new day (true/false).
  • Top/Bottom padding (0.0 - 1.0) - used to set the margins above and below the visible high & low of the visible Renko chart.
  • Show Monthly, Weekly and Daily pivot levels plus Daily R1, R2, R3 & S1, S2, S3 (calculated using Classic or Fibonacci method) as well as previous day's High, Low & Close levels with color definitions.
  • Pivot Point calculation method ( (H+L+C)/3 or (O+H+L+C)/4 ).
  • 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.
  • Alert on a new bar (true/false)
  • Alert on reversal bar (true/false)
  • Alert on MA crossover (true/false) - 1st MA (fast) & 2nd MA (slow) need to be enabled for the alert to work
  • Display alert in Alert Window (true/false)
  • Play sound on alert (true/false)
  • Send alert via push notification to a smartphone (true/false)
  • Use sound file for bullish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
  • Use sound file for bearish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
  • Settings for first MA - 3rd MA.
  • 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.
  • Display as bar chart (true/false).
  • Shift objects with chart (true/false)
  • 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 5 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. These are followed by settings are used for custom alerting of new bars and new bar reversals.

Finally the last settings enable the trader to add 3 custom Moving Averages and a Donchian Channel, Bollinger Bands or Super Trend channel 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
    • Retracement factor = 0.5
    • Asymmetrical reversals = yes
    • Show wicks = yes
  • Vanilla Renko with wicks
    • Retracement factor = 1.0
    • Asymmetrical reversals = yes
    • Show wicks = yes
  • Turbo Renko
    • Retracement factor = 0.25
    • Asymmetrical reversals = yes
    • Show wicks = yes
  • Hybrid Renko
    • Retracement factor = 0.25
    • Asymmetrical reversals = no
    • Show wicks = yes
  • Point-O
    • Retracement factor = 1.0
    • Asymmetrical reversals = no
    • Show wicks = yes
Reviews 20
Unggul
20
Unggul 2021.10.30 14:32 
 

Great indicator. Good support. Responsive Developer. Many strategy can be made from this renko indicator. It also for the the uni renko converter

igulinda
87
igulinda 2021.06.09 14:10 
 

excellent work, where can I find a user guide?

Niklas Gruenbauer
431
Niklas Gruenbauer 2021.05.08 16:16 
 

Great indicator, combined with my EA strategy it works like a charm! So far, value for money is the best I have found!

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Auto Order Block with break of structure based on ICT and Smart Money Concepts (SMC) Futures Break of Structure ( BoS )             Order block ( OB )            Higher time frame Order block / Point of Interest ( POI )    shown on current chart           Fair value Gap ( FVG ) / Imbalance   -  MTF      ( Multi Time Frame )    HH/LL/HL/LH  -  MTF      ( Multi Time Frame )  Choch  MTF      ( Multi Time Frame )  Volume Imbalance     ,  MTF          vIMB Gap’s Power of 3  ( PO3) Equ
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Filter:
Robert Jenkins
863
Robert Jenkins 2022.12.15 16:59 
 

It is NOT a true Renko ... every day is the same number of bars

WASTE OF MONEY

strive23
194
strive23 2022.08.26 16:44 
 

hi, the chart keeps shifting to the left; while my other price channel indicator does not attach to the custom chart but bases itself on the 1 mn chart from where i created the renko chart.. how do i make the price channel indicator picks up the renko data and not the 1mn data.. ? this is the downside as it should be its own individual chart..

116100642
34
116100642 2022.07.13 23:16 
 

I downloaded the renko bundle; but I was unable to set it up. I could not find a user manual or any instructions as to set up. I asked for help 3 days ago; but help has not been forthcoming. This being the case I asked for a refund. Istill have not heard from anyone regarding a refund.

Unggul
20
Unggul 2021.10.30 14:32 
 

Great indicator. Good support. Responsive Developer. Many strategy can be made from this renko indicator. It also for the the uni renko converter

284954
518
284954 2021.06.24 05:35 
 

Olá, amigo! Já comprei o produto, ainda não usei. Meu intuito é mandar fazer um EA(Robô) com este indicador, não abri o indicador ainda, mas pelo que vi e li até agora vejo que é muito boa a configuração, mas não opero manualmente, apenas com robô, como faço para adquirir no formato em que que eu possa acionar os desenvolvedores(código fonte aberto). Voce dá conta de fazer o robô? Se sim, faria por quanto?

Artur Zas
22838
Reply from developer Artur Zas 2021.06.24 10:01
Please contact me via Private Message
igulinda
87
igulinda 2021.06.09 14:10 
 

excellent work, where can I find a user guide?

Artur Zas
22838
Reply from developer Artur Zas 2021.06.10 09:24
Thank you for your kind words. All of the basic features are explained in the video on the product page. Please send a private message to me if there is a particular topic of interest to you. I'll be happy to help.
Niklas Gruenbauer
431
Niklas Gruenbauer 2021.05.08 16:16 
 

Great indicator, combined with my EA strategy it works like a charm! So far, value for money is the best I have found!

Jptrading
238
Jptrading 2021.04.23 22:03 
 

AWESOME product , I double my account within 48 hours...I'm Impressed. One of the best out there.. But Waiting for Artur To update on MA1 & MA2 crossing notification cause its not working ..no update yet after a few days.. 24 hours later he helped and things are working great.100 stars

gaswim
54
gaswim 2020.10.12 18:01 
 

Hello everyone I have bought median renko but I have some problem when I want to backtest with Mt5 backtester. Is there a solution. Please. Could someone help me.

189114nickynomates
753
189114nickynomates 2020.10.12 10:28 
 

This opens a whole new world to trading. I have brought many indicators and ea over the years the majority giving big promises but little in the way of results. Nothing comes close to this. Its a plug and play for the thinking trader. The Renko build is great and all you could ever ask for and the collection of indicators put together for help is just awesome. I very much hope i can run with a great ea i found that would be my dream. Keep up the great work Arhur look forward to many years of perfecting perfect trading.

Michael Edwards
34
Michael Edwards 2020.09.25 11:46 
 

User didn't leave any comment to the rating

eliseexige
2057
eliseexige 2020.09.23 16:18 
 

after multiple attempts during live markets, this is just like the rest of Artur's products. It will freeze, it will refresh the data and screw up custom indicators, and it will cost you because of it. I'd give this a 0 or negative star rating if it were possible. AVOID if you are a serious trader and need stability in fast markets, because you won't get it here. EDIT 2: Artur is working with me on all products to solve issues and I have adjusted the feedback accordingly.

waveriderj
19
waveriderj 2020.09.20 19:47 
 

5-star functionality

Paul Piper
23
Paul Piper 2020.07.20 06:46 
 

User didn't leave any comment to the rating

Jonathan Vodini
563
Jonathan Vodini 2020.06.30 19:43 
 

fantastic indicator, all you need in one, 5 stars!

Devonish
2956
Devonish 2019.09.04 20:43 
 

A quality tool and the developer was very helpful in resolving some minor issues I had.

StevenP
33
StevenP 2019.06.12 21:34 
 

This is a great indicator. So many options. Great developer

Traine
209
Traine 2019.02.11 01:48 
 

I am looking for the EA you made for this indicator.

Andre Gomes
2771
Andre Gomes 2019.01.04 22:56 
 

Very useful. I totally recommend it!

ALETRADEX
43
ALETRADEX 2018.09.29 18:54 
 

User didn't leave any comment to the rating

12
Reply to review
Version 3.21 2023.12.30
Performance improvements
Version 3.19 2021.07.23
Bug fixes and code maintenance release.
Version 3.17 2021.05.10
Added new dynamic renko body size algorithm ("percentage renko" as used on Definedge TradePoint);
Optimized indicator inputs;
Fixed compatibility with StereoTrader when "Shift objects with chart" is set to YES.
Version 3.16 2021.05.05
Fixed MA cross alert bug when the MAs used the shift parameter
Version 3.15 2021.04.23
Optimization and code cleanup;
Minor bug fixes.
Version 3.14 2021.04.13
Code maintenance and cleanup;
Indicator parameters grouped into logical blocks;
Added timeframe selection for ATR calculations;
Simplified Moving Average inputs (merged ON/OFF and drawing type into a single input).
Version 3.11 2020.10.12
Maintenance release
Version 3.10 2020.09.30
Fixed "Truncate trailing digits on the first renko" setting for situations where the offset is equal to the number of digits after the decimal point.
Version 3.9 2020.09.24
Added alerts for bearish or bullish only reversals;
Replaced and fixed the optional "First pip offset" by more intuitive "Truncate trailing digits on the first renko";
Fixed compatibility issues with the latest MT5 builds.
Version 3.8 2020.07.07
Fixed LWMA indicator bug
Removed "H1" timeframe restriction.
Version 3.7 2020.06.18
Price projections update bugfix.
Version 3.6 2020.06.16
Recompiled for better compatibility with the latest MT5 builds
Version 3.5 2020.03.26
Fixed alert handler
Version 3.4 2020.03.25
Memory usage optimization
Version 3.3 2020.03.22
Optimizations
Version 3.2 2020.03.18
FIxed ATR based renko size calculation
Version 3.1 2020.03.13
Code maintenance update
Version 3.0 2020.03.11
BREAKING CHANGES (full info in comments)!
======================================
Completely rewritten tick data engine (fixed all known and reported bugs found in the previous version)
Renko body size is now denoted in "ticks" for better compatibility with stocks, futures, and indices.
Added 4th MA
Added Linear regression to the available MA types
Added Keltner Channel to the available channel types
Added optional trading session timespan with optional gray out of the after-hours zone (useful for futures and stock traders)
Added more settings to the "Show pivot settings" dropdown
Added optional price labels for MAs and Channel lines
Alert setting inputs are now consolidated (from 6 to 2 variables)
Bar close projection colors are now taken from the candle colors (1 and 2).
Version 2.17 2019.09.05
Bugfix for last bar refresh problem found in previous version
Version 2.16 2019.09.03
Fixed "duplicate tick" processing problem on the extremely fast-moving charts.
Fixed problem with brokers having an incorrect symbol specification info.
Added various optimizations and improvements.
Version 2.15 2019.08.29
Fixed problem with "invisible renko bars" when backtesting with latest MT5 builds.
Version 2.14 2019.08.27
Bugfix (fixed incorrect tick volume calculation for some historical renko bars)
Version 2.13 2019.07.30
Changed "Bars size (in points)" input name to "Renko body size (in point)"
Changed "Renko body size (in point)" input field type from "integer" to "long"
Version 2.12 2019.05.24
Bugfix: fixed problem with certain settings resulting in a blank chart.
Version 2.11 2019.05.13
Bug fix: Fixed backtesting bug
Version 2.10 2019.04.24
Small enhancements & code cleanup
Version 2.9 2019.03.28
Added signal candle's close price to alerts;
Code cleanup.
Version 2.8 2018.12.15
Bug fix & maintenance update
Version 2.7 2018.12.12
Bug fixes
Version 2.6 2018.11.23
Maintenance release
Version 2.5 2018.06.29
Maintenance release - code optimization
Version 2.4 2018.05.17
Bug fix: Fixed backtesting bug.
Version 2.3 2018.05.17
Bug fixes.
Added: 2 MA cross alert (MA1 = fastMA, MA2 = slowMA)
Changed: Alert settings
Version 2.2 2018.02.27
Maintenance update
Version 2.1 2017.11.22
Maintenance release
Version 2.0 2017.11.09
Version 2.00 uses real tick data to build and update the charts.
Added: Real tick volume (with Buy/Sell breakdown) is presented where available
Added: First Renko offset setting
Added: Classic or Fibonacci pivot lines plus support (S1,S2,S3) & resistance (R1, R2, R3) levels
Added: Previous sessions High, Low and Close levels
Added: Third moving average
Added: Volume weighted moving average method (using tick volume or real volume)
Added: Optional ATR based bar size calculation
Added: Optional display as bar chart (useful when using with Heiken Ashi indicator)

All known bugs in version 1.47 have been fixed
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.