Market / MetaTrader 5 / Indicators /

Median and Turbo renko indicator bundle

45 USD

Demo downloaded: 7 953

Published: 11 May 2016

Current version: 3.21

Median and Turbo renko indicator bundle

4.38

Indicators
Artur Zas
Version: 3.21
Updated: 30 December 2023
Activations: 10

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

more...

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 2021.06.09 14:10 #

excellent work, where can I find a user guide?

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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A utility used to create custom Tick or Volume bar charts and provide real-time updates. This is an MT4 "offline" chart equivalent which is very simple to use. You can attach any MT5 compatible indicator or template to the tick chart and perform your technical analysis. Tick charts measure the number of transactions per bar. You can choose any number of ticks per bar but most traders choose Fibonacci numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233...). The generator uses tick data to plot

39 USD

Professional renko charting on a custom symbol chart accurate pricing to the tick accurate timeline (no future date projections ) every renko variation in a single package very responsive charts optional display of live trade levels on the chart An Expert Advisor (EA) used to create custom Renko charts and provide real-time updates. This is an MT4 "offline" chart equivalent which is very simple to use. All historical renkos are constructed using real tick data from the broker's server.

39 USD

The indicator combines the features of both the Tick charts and Volume Bar charts. The mode can be selected in the indicator's settings. Tick charts measure the number of transactions per bar. To give you an example if you have a 233 tick chart, each bar measures 233 transactions per bar and a new bar is plotted after 233 transactions. You can choose any number of ticks per bar but most traders choose Fibonacci numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233...). Volume bar charts are desi

45 USD

Professional range bar charting on a custom symbol chart accurate pricing to the tick accurate timeline (no future date projections) very responsive charts An Expert Advisor (EA) is used to create a RangeBar custom chart and provide real-time updates. It is an MT4 "offline" range bars chart equivalent. The simplicity of use - Attach the EA to any time-based chart that you wish to see Range Bars for, input your desired parameters and you are ready to go! You can attach any MT5 compatible indicat

39 USD

Ultimate Renko is a full implementation of a robust Renko style charting solution for MT4. It enables creating custom live charts resembling Median Renko , Mean Renko , Turbo Renko , and Better Renko candles as well as Vanilla Renko and Renko with wicks , PointO charts, and many more. This all-in-one package provides all of the signals needed by day traders, scalpers, and even long-term traders. You can apply all of the standard and custom indicators and technical studies as well as templates to

45 USD

A countdown timer for the Volume bar chart generator and Tick chart generator products, which are available for download from the MQL5 Market: Tick chart generator: https://www.mql5.com/en/market/product/29215 Volume bar chart generator: https://www.mql5.com/en/market/product/47197 The counter conveniently displays the number of ticks or transactions (depending on the chart) that need to pass for a new bar to start printing. The user can set the following indicator inputs. Volume type

FREE

The robust charting solution enables creating custom live range bar charts on the MetaTrader 4 trading platform. You can apply all of the standard and custom indicators and technical studies directly to the range bar charts and you can run EAs directly on these charts as well* (for details see text below the input summary). To create a range bar chart you need to attach the Range Bar indicator to a standard time frame (1 minute is recommended) and use the indicator's settings to generate a live

45 USD

The extreme volume indicator helps identify turning points in the market by pinpointing spots of higher than average volume. Such points usually indicate the start of a trend or a turning point in the market. The indicator averages out volume readings over an extended period of time and calculates a volume threshold level. When this level is breached, it identifies the most likely trend direction using the trend of the candle that breached the volume threshold. The direction indicator (red or gr

10 USD

CMI - Profit from trending and ranging markets. The CMI indicator is a two-part system used to trigger both trend and counter-trend trades, that has been introduced by Daniel Fernandez in an article published in Currency Trading Magazine (August 2011 issue). It is a simple, yet effective indicator, which gauges whether the market has behaved in a choppy (non-directional) manner or trending (directional) manner. CMI calculates the difference between the most recent bar's close and the close n bar

199 USD

The trend scalper candles are used to identify short-term trends based on the readings of the MACD, RSI and ATR indicators. All indicator calculations are visualized by candle colors which are overlapped on the chart. The indicator uses gray , green and red colors to paint individual candles, which gives you a lot of useful and easy to read information. Gray candles Gray candles indicate a range bound period and the information can be used to trade breakouts. Simply mark the high and low of th

30 USD

The professional line break chart generator is used to create live line break charts (i.e. 3 line break ). The chart is plotted using MT4's offline charging facility thus making it possible to trade* directly from the chart as well as attach any of the standard or custom indicators to perform technical analysis. The line break chart can be displayed as the most widely used 3 line break chart or a custom variation such as 2 or 5 line break chart . Wicks can be displayed or hidden on the chart - t

45 USD

Range Bars for MetaTrader 5 is a unique tool for conducting technical analysis directly on the charts, as the indicator is an overlay on the main chart and range bars are calculated using real tick data. The trader can place and modify orders directly on the range bar chart (even with the use of one-click trading). Apart from range candles, the indicator also includes the most commonly used technical studies which are 3 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weight

45 USD

A professional line break chart which is displayed directly in the chart window thus making it possible to trade directly from the MetaTrader 5 charts. The line break chart can be displayed as the most widely used 3 line break chart or a custom variation such as 2 or 5 line break chart . Wicks can be displayed or hidden on the chart - they give a lot of additional information regarding the underlying price action. The indicator's settings include: Line break number - determines the number of lin

45 USD

Robust trading panel for use on any symbol (including RangeBars or Renko custom symbols). The tool can be placed anywhere on the chart and offers the following array of features: One-click instant order entry. Pending order entry using horizontal lines on the chart Pending order entry using keys in Entry price (E/P) and optional Stop Loss (S/L) and/or Take Profit (T/P) A choice between fixed trading volume or risk-based volume calculation based on the available account equity, entry price, and t

30 USD

Create and trade timeframes in seconds. The bar time duration is freely adjustable from 1 second and up. The chart is accurately constructed using real ticks from the broker's server. Main characteristics The indicator is an overlay on the main chart, making it possible to utilize one-click trading and on-chart order manipulation. History calculated using real tick data. Built-in technical studies: 4 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weighted using tick or rea

45 USD

The Trade Tracker Library is used to automatically detect and display trade levels on custom charts. It is an especially useful add-on for EAs that trade on custom charts in MT5. With the use of this library, the EA users can see trades as they are placed via the EA (Entry, SL & TP levels) in real-time. The header file and two examples of EA skeleton files are attached in the comments section (first comment). The library will automatically detect the tradable symbol for the following custom

30 USD

Filter:

844

Robert Jenkins 2022.12.15 16:59 #

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

WASTE OF MONEY

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 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 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

497

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?

22649

Reply from developer Artur Zas 2021.06.24 10:01 #

Please contact me via Private Message

igulinda 2021.06.09 14:10 #

excellent work, where can I find a user guide?

22649

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.

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!

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 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.

689

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 2020.09.25 11:46 #

User didn't leave any comment to the rating

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 2020.09.20 19:47 #

5-star functionality

Paul Piper 2020.07.20 06:46 #

User didn't leave any comment to the rating

563

Jonathan Vodini 2020.06.30 19:43 #

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

2933

Devonish 2019.09.04 20:43 #

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

StevenP 2019.06.12 21:34 #

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

209

Traine 2019.02.11 01:48 #

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

2771

Andre Gomes 2019.01.04 22:56 #

Very useful. I totally recommend it!

ALETRADEX 2018.09.29 18:54 #

User didn't leave any comment to the rating

1 2

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.

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