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Ultimate Renko

Ultimate Renko is a robust Renko style charting solution for MetaTrader 4. 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 plus PointO charts. 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 to the Renko charts and you can run EAs directly on these charts as well* (see text below the input summary).

To create the Renko chart you need to attach the Ultimate Renko indicator to a standard timeframe (1 minute is recommended) and use the indicator's settings to generate a live custom chart that will be displayed on an offline chart of your choice. All of the available settings are described below:

== Bar type definition ==

  • Candle body size (in pips for Forex pairs and in points for others)
  • Retracement Factor (0.01 to 1.00)
  • Symmetrical reversals (true/false)
  • Show wicks (true/false)

== Display settings ==

  • Display on offline chart (M2, M3, M4, M6, M7, M8, M9 or M10)
  • Build history for number of days
  • Apply offset to first Renko brick
  • Offset value in pips
  • Reset Open on each trading day
  • Re-calculate chart on history updates
  • Minimum chart update interval (defined in milliseconds)

== ATR based bar size calculation ==

  • Enabled (true/false)
  • Daily ATR period
  • Percentage of ATR to calculate candle body size

== Alerts and Info ==

  • Sound signal on new bar (true/false)
  • Only signal reversal bars (true/false)
  • Use Alert Window to display signal (true/false)
  • Sound file to play on bullish bar
  • Sound file to play on bearish bar
  • Color of High threshold indicator
  • Color of Low threshold indicator

Below, you will find the settings for creating several commonly utilized charting types:

Median Renko
Vanilla Renko with wicks Turbo Renko Hybrid Renko PointO
Retracement factor = 0.5
Symmetrical reversals = TRUE
Retracement factor = 1.00
Symmetrical reversals = TRUE
Retracement factor = 0.25
Symmetrical reversals = TRUE
Retracement factor = 0.25
Symmetrical reversals = FALSE
Retracement factor = 1.00
Symmetrical reversals = FALS
*) EAs can be used directly on the offline chart however a small tweak is required, so you need to have access to your EA source code. Below is an EA skeleton example that is capable of running directly on the offline chart:
#property strict
//| Expert initialization function                                   |
int OnInit()
   // You need to initialize a time to call the OnTimer event.
   // It is used to call OnTick whenever the Bid price changes.
   // The check is made every 250 ms, which should be sufficient.
//| Expert deinitialization function                                 |
void OnDeinit(const int reason)
   // Remember to destroy timer in the OnDeinit event.

//| Expert tick function                                             |
void OnTick()
   // This is where all of your EA trading logic resides.
   // I just write to the log in this example...
   Print("OnTick function call - bid = "+(string)Bid);
//| The OnTimer function is used to call OnTick()                    |
//| whenever the Bid price changes.                                  |
void OnTimer()
   static double prevBid = 0; 
   if(Bid != prevBid)
      prevBid = Bid;
Harry Gunadi Permana
Harry Gunadi Permana 2018.07.09 10:29 

Great indicator!

Martial Curti
Martial Curti 2018.05.31 08:59   

Perfect ultimate renko indicator.

many variable to play with.

very happy with it

Zentrader2015 2018.05.25 22:00 

Very nice product and great customer service

Saetajhv9 2017.11.16 07:05   

no he tenido soporte hasta ahora.

jagdish111 2017.10.03 07:06 

Excellent indicator and excellent support

Version 1.13 2018.05.28
Maintenance release
Historical charts are now built using data from the chart where the indicator has been attached (for example: M1, M5, M15, etc.)
Version 1.11 2017.11.09
Bug fixes
Version 1.10 2017.09.27
Bug fix: fixed timescale & startup glitch
Version 1.1 2017.08.22
Bug fix: Corrected date/time info bug occurring on live renko bars