Renko Main Chart

Renko Main Chart

Renko Main Chart is an MT5 chart indicator designed to display Renko-style price bricks directly on the main chart. It provides configurable Renko box sizing, wick display modes, optional EMA lines, Supertrend, Support and Resistance levels, and reversal arrows.

The indicator is designed to provide a structured chart view where price movement can be analyzed using Renko bricks together with optional trend and level tools.

Main Features

Renko Box Size Modes

• Pips Mode — Define the Renko box size in pips.
• ATR Mode — Calculate the box size dynamically using ATR.
• Currency Mode — Define the required price movement directly as a currency value.

Wick Display Modes

• No Wicks — Displays solid Renko bricks.
• Standard Wicks — Displays High and Low wick information.
• Tail Only — Displays rejection-style wick information.
• Direction Change — Displays wick information when the Renko direction changes.

EMA 1 and EMA 2

Two optional EMA lines can be displayed on the chart.

• EMA 1 — Custom period and color.
• EMA 2 — Custom period and color.

The default periods are 9 and 21, and both settings can be changed according to the user's requirements.

Supertrend

An optional Supertrend line is available for additional trend analysis.

• Custom Supertrend period.
• Custom multiplier.
• Separate colors for upward and downward direction.
• Trend direction is calculated from the Renko brick data.

Support and Resistance

The indicator can display Support and Resistance levels based on Renko price structure.

Available modes include:

• Recent Brick Body.
• Recent Wick Extreme.
• All Historical Brick Body.
• All Historical Wick Extreme.

Users can select:

• Major and Minor levels.
• Major levels only.
• Minor levels only.

The minimum number of Renko bricks required to classify a level as major can also be configured.

Visual Customization

Users can customize:

• Major Support color.
• Major Resistance color.
• Minor Support color.
• Minor Resistance color.
• Support and Resistance line width.
• EMA colors.
• Supertrend colors.
• Buy and Sell arrow colors.
• Arrow distance from the Renko structure.

Reversal Arrows

Optional Buy and Sell arrows can be displayed when the Renko brick direction changes. Arrow visibility, colors and position offset can be configured from the indicator settings.

Current Price Box

The indicator also displays a dynamic current-price box based on the latest price movement. This provides a visual representation of the current price position relative to the latest completed Renko structure.

Chart Display

Renko MainChart can be applied to different symbols and MT5 timeframes. The indicator works with the current chart symbol and timeframe and does not place or manage trades.

Settings

The indicator provides separate input sections for:

• Renko calculation.
• Wick display.
• Support and Resistance.
• EMA 1.
• EMA 2.
• Supertrend.
• Reversal arrows.
• Colors and line widths.

This allows users to configure the chart according to their preferred Renko structure and analysis style.

Important Note

Renko MainChart is a technical analysis indicator. It does not guarantee trading results or profitability. Market conditions, symbol characteristics, broker pricing and user settings can affect the interpretation of any technical indicator. Users should evaluate the indicator in their own trading environment and apply appropriate risk management.

(You can view my seller profile on MQL5 for more trading tools and utilities).

Developer Profile & Other Tools: https://www.mql5.com/en/users/deepak89kumar/seller

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