The indicator displays renko bars on a chart, use them to plot MACD histogram and provides buy/sell signals:
- signal of MACD histogram crossing its signal line;
- signal of MACD histogram crossing the line 0.
Renko is a non-trivial price display method. Instead of displaying each bar within a time interval, only the bars where the price moved a certain number of points are shown. Renko bars do not depend on a time interval, therefore the indicator works on any timeframe without losing its efficiency.
Buy/sell signals are passed to the indicator buffers and can be used in the automated trading. Signal 1 shows the histogram crossing the signal line, while signal 2 displays the histogram crossing the level 0.
Apart from signals on a chart, the indicator features pop-up, e-mail and push notifications.
- RenkoBar - renko bar size (specified for 4-digit quotes, automatically re-calculated for 5- and 3-digit quotes);
- CountBars - number of renko bars displayed on a chart;
- bearColor - bearish bar color;
- bullColor - bullish bar color;
- hideBars - flag of hiding standard bars on a chart
- MacdFast - fast MACD line period;
- MacdSlow - slow MACD line period;
- MacdSignal - MACD signal line period;
- MacdColor - MACD histogram color;
- SignalColor - MACD signal line color;
- showSignal_1 - enable/disable the signal of the histogram crossing the signal line;
- showSignal_2 - enable the signal of the histogram crossing the line 0;
- useAlert - enable notifications in a popup window;
- useMail - enable email notifications;
- useNotification - enable push notifications;
- messageSignal_1 - signal 1 notification text;
- messageSignal_2 - signal 2 notification text.