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RenkoMacdSignals

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.


Parameters

  • 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.
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