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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 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
ALETRADEX
43
ALETRADEX 2018.09.29 18:54   

Ola. Comprei mas não consegui usar. Você pode me ajudar? Obrigado...

Michael Maggi
1910
Michael Maggi 2018.09.05 04:56 
 

This is a great indicator. I use it every day and have for a long time. Some of my trading strategies are outlined on my profile page with shared charts.

BMAT
22
BMAT 2018.08.20 15:19   

Trying to RE INSTALL it on a new computer and it wont work... THe only path to install is through the link (install on the plataform) but it wont work.

With the MT5 open I also go to Library - Purchased and it show the message (purchased but not dowloaded) and a button to INSTALL... It doesnt work! Please help. Thanks

Xavier507
25
Xavier507 2018.05.03 17:46   

Não consigo instalar o Renko, gostaria de ajuda. obrigado

wladimirwf
28
wladimirwf 2018.04.19 16:30   

Simplesmente NÃO CONSIGO instalar o indicador...ao tentar instalá-lo, aparece um "MedianRenkoOverlay_Trial" (versão TRIAL???) no Navegador, e ao arrastá-lo pra janela do gráfico, também não entra!!! Gostaria de uma solução pro meu problema!!!

AndreiDuke
31
AndreiDuke 2017.12.21 16:25 
 

Artur, thanks for the great indicator. I liked the communication with the author. Artur answered all my questions. Maybe this is the best Renko indicator and realy best Renko on Metatrader. Excellent work and thanks again!

kwlin_089
300
kwlin_089 2017.11.25 03:16 
 

Do not recommend to use automated! If you want to use it manually it will be useful

Carlos Giunti
792
Carlos Giunti 2017.08.24 22:54 
 

Great indicator, Amazing support from Artur Zas,

Very responsive. A+++++

Renat Safin
82
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.

Sameshima
38
Sameshima 2017.04.24 23:44 
 

Great indicator, the developer is very responsive.

Julio Cesar Monteiro Dos Santos
38
Julio Cesar Monteiro Dos Santos 2017.04.24 22:52 
 

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

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.