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RenkoRangeBars FlatBarDemo

The RenkoRangeBars_FlatBarDemo indicator is the Demo version of the RenkoRangeBars FlatBar indicator, which in turn is the opposite of the Renko_Bars_3in1 indicator. A reverse bar has less significance than a Renko Bar. A chart built using RenkoRangeBars FlatBar can be used for all types of trading.

Note. The indicator works only on the NZDUSD pair. A chart with the M1 period is necessary to build an offline chart. When the indicator is attached to a chart, the offline chart is opened automatically. When closing the terminal, also close the offline chart, because another offline chart will be opened at the next start of the terminal. If this situation occurs, close the offline charts and restart the indicator.

A chart built using RenkoRangeBars_FlatBarDemo does not redraw the value of Open on the current bar and value of Close on the previous bar, which is important for fully functional operation of indicators and Expert Advisors. The indicator also implements the ability to test indicators and experts in the tester.

To run your experts on an offline chart, create a copy of your expert, then insert or replace the OnInit() function with the one below. You can also use the refreshchart_and_tiks (https://www.mql5.com/en/code/19673) script to run experts on offline charts (preferred, does not require the replacement of functions in experts).

//+------------------------------------------------------------------+
void OnInit()
 {
     double prev_bid;
     prev_bid=Bid;
     while(!IsStopped())
    {
     RefreshRates();
     if(prev_bid!=Bid) 
     {
      prev_bid=Bid;
      OnTick();
     }
      Sleep(200);
    }
  }
//+------------------------------------------------------------------+


Indicator Parameters

  • CandleSize - candle body size in pips.
  • RevReduction – divider for the reversal bar.
  • TimeFrame - timeframe to display the offline chart (M2, M3, M4, M6, M7, M8, M9 or M10).
  • ShowWicks - show the candle wicks (true/false).
  • StrangeSymbolName - set true, if your broker's pair name is different from the standard pair name.
  • Test - false; set True if the chart is opened for testing.
  • DateStart - chart calculation start date.

The indicator setting is identical to Renko_Bars_3in1.

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Version 1.10 2018.03.01
The construction of bars is performed by (ASK + BID) / 2.