AlphaForge Renko Chart
- Utilities
- Version: 1.46
- Activations: 5
Overview
AlphaForge Renko Chart is a professional non-trading Renko charting utility for MetaTrader 5. It generates live Renko charts as MT5 custom symbols, giving traders a cleaner brick-based view of price movement without replacing the normal MT5 workflow.
Unlike visual-only overlays, the generated Renko chart behaves like a real MT5 custom-symbol chart. This means you can open it as a chart, apply templates, draw analysis objects, and add indicators directly to the Renko chart for deeper market analysis.
AlphaForge Renko Chart is designed for chart analysis only. It does not open, modify, or close trades.
Why use Renko charts
Renko charts reduce the noise of time-based candles and focus on meaningful price movement. This can make trends, pullbacks, breakouts, reversals, and support/resistance areas easier to identify.
By generating Renko data as an MT5 custom symbol, AlphaForge Renko Chart keeps the analysis workflow familiar: you can use the chart window, templates, drawing tools, and indicators just like you would on a normal MT5 chart.
Main features
- Live Renko custom chart generation for MetaTrader 5.
- Adjustable Renko brick size in points.
- Real-time Bid-based Renko updates.
- Generated as an MT5 custom symbol, not just a visual overlay.
- Compatible with MT5 indicators on the generated Renko chart.
- Optional Bid and Ask price lines.
- Object synchronization between the source chart and the generated Renko chart.
- Supports synced horizontal lines, vertical lines, trend lines, rectangles, Fibonacci objects, and equidistant channels.
- Remembered options for faster repeated setup.
- Optional custom MT5 template application.
- Organized AlphaForge output group for generated symbols.
- Automatic cleanup of the generated chart and custom symbol when the EA is removed.
- Non-trading utility: no orders, no signals, no account operations.
How to use
- Attach AlphaForge Renko Chart to a normal MT5 chart.
- If you want to change the setup, turn off "Use remembered options" and adjust the inputs.
- Set the Renko brick size in points.
- Enable or disable the Bid and Ask price lines as needed.
- Optionally enter an MT5 template name to apply a custom template to the generated Renko chart.
- The tool will create and update a generated Renko custom symbol/chart for analysis.
- Add your preferred MT5 indicators to the generated Renko chart if needed.
- Draw supported objects on the source chart and they will be synchronized to the generated Renko chart.
Input overview
- Use remembered options: loads the previously saved AlphaForge settings for this chart tool when available.
- Renko brick size in points: sets the Renko brick size using symbol points.
- Show bid line: displays the live Bid price line on the generated Renko chart.
- Show ask line: displays the live Ask price line on the generated Renko chart.
- Output group: defines the AlphaForge output group used for generated custom symbols.
- Template name: optionally applies an MT5 chart template to the generated chart.
Notes
- To manually change inputs such as brick size, Bid/Ask lines, output group, or template name, disable "Use remembered options" first.
- To apply a custom chart template, enter the template name exactly as it exists in MT5.
- Since the Renko output is generated as an MT5 custom symbol, you can apply indicators directly to the generated Renko chart.
- When the EA is removed from the source chart, AlphaForge Renko Chart closes its generated chart and removes the generated custom symbol to help keep Market Watch clean.
- AlphaForge Renko Chart is a charting and analysis utility only. It does not place trades, send signals, or manage orders.
