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Renko Advanced

5


This Renko Advanced indicator can be considered as a trading system.

The indicator offers a different view to see the currency pair: it is a full  timeless indicator and it can be used for manual trading or for automatized trading with some expert advisor. When the price reaches a threshold a new block is created.

It offers less noise than usual candles bar.

The user can decide how to calculate the bars.


The indicator beside the Renko bars, shows also 3 moving averages.

Push notification was introduced when a new bar is created or a cross between moving averages occurs.

This feature is very useful for using the indicator with an EA.

PS2: if nothing is displayed, check input parameter. For low TF it could be needed to turn off the Sync feature

Strongly raccomanded to switch TF before starting(for example if you are in 30M. switch to 15M and then 30M again) to allow refreshing data at the beginning.


Introduced: datetime for renko bars and wicks.


If you want to display easily the difference between the 2 moving averages, you can try the RenkoMACD indicator.


How to use

You can find the lite version of this indicator here: https://www.mql5.com/en/market/product/35711

Time frame should be low( like 5M but it depends of the brick height) to have a good representation of historical bars, otherwise the user should adapt the timeframe related to brick height set.

TF affects hystorical values considering that storical data supplies only OHLC values.

PS: please rate this indicator and leave a comment. Do not forget: your feedback is important!

Renko is very good for giving the idea of the trend with very low noise. Just for giving you an example you can try EURUSD with 2 RenkoAdv: one with brick at 130 points and another with brick at 500 points.


INPUT parameters


DisplayMode: Renko, Median Renko (both with/without delay)

The difference is :

-With RenkoAdv, every brick has drawn after a number of pints set in BoxSize parameters. 

-With TrueRenko on inversion of trend,the price must be distant the double of BoxSize before drawing the bricks. When the double has reached, 2 box are drawn. It is less noisy of RenkoAdv mode but it has more delay when changing trend occurs.

-With Median Renko In inverting trend a new block is created after price has done the double of brick size

-With Median Renko with no delay. A new block is created every half brick.


Box size (in points): the thickness of the renko bar in points

Calculation Type: how to calculate a new renko bar

FAST Average length: length for the fast moving average

FAST Average type: simple or exponential moving average

SLOW Average length: length for the slow moving average

SLOW Average type: simple or exponential moving average

Alert on new bar: Computer and/or phone notification is available

Alert on Avg cross: Computer and/or phone notification is available

Optional comment: on push notification to EA, optional comment is sent

Sync graph with midnight: with this feature the graph will start to be drawn by the first candle starting at midnight.

Give us a feedback and a comment please.

PS: for receiving phone notification you need to have installed MT5 on your phone and follow the procedure to enable push notification. If you have problems feel free to contact me.


Using with an EA


enum Typek
  {
   Calc_OnClosePrice=1,//On Close Price(TF related)
   Calc_OnEveryTick=2//On Every Tick
  };

enum Average
  {
   Simple=1,
   Exponential=2
  };

enum NewAlert
  {
   Alert_No=0,//No Alert
   Alert_PcAlarm=1,//Computer Alert
   Alert_PhoneAlarm=2,//Phone
   Alert_PcPhoneAlarm=3,//Computer Alert and Phone
   Alert_PcNLAlarm=4,//Computer (No Blocking)
   Alert_PcNLPhoneAlarm=5//Computer (No blocking)- Phone
  };

enum DisplayModex
  {
   Mode_TrueRenko=0,//True Renko (delayed)
   Mode_MedianRenko=2,//Median Renko (delayed)
   Mode_RenkoAdv=1,//Renko Adv
   Mode_MedianRenkoIMM=3//Median Renko
  };

//Example of Call 
//For the order of the input, follow the indicator inputs.The following row could be not updated.
int handle_adv=iCustom(NULL,Period(),"Downloads\RenkoAdv",BrickHeight,Avg1Fast_Length,Avg1Fast_Type,Avg2Slow_Length,Avg2Slow_Type,Avg3Length,Avg3Long_Type,UseSync_boolean,ShowNewBarAlert_boolean,ShowCrossAlert_boolean,CalculationType_typek,"Just a comment");

Reviews 3
Rigitti
54
Rigitti 2019.07.22 14:08 
 

This Indicator is very good!

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MonoBAR
BUYUK SAVDOGAR
"BUYUK SAVDOGAR" TM has developed this strategy to support anyone who trades binary options. The "monoBAR" trading system is based on mathematical probability and consists of algorithms that can analyze the market situation with high accuracy. This trading system consists of mathematical probability, which helps to determine the most accurate state of the price movement. The strategy algorithm helps to detect small impulse movements in a timely manner. You can simultaneously analyze and r
120 USD
The 'Volume by Price' indicator can visualize the complex relations between volume, price and time in easy to interpret forms to setup basic or advanced compositions. Features Volume Profile histogram, opacity-based background, area and line chart. Market Profile (Time Price Opportunity) expandable letter- and block-based marker structure, area and line chart. Initial Balance. Volume by Time histogram and bubble chart, and Volume Weighted Average Price. Comprehensive composition object position
150 USD
The VIP Consolidation Price indicator displays the price consolidation areas (a large gathering of sellers and buyers). If these areas are broken through, with a high probability the price will continue to move in the selected direction. The wider the price consolidation area, the higher the probability that the price will not return to the opposite boundary of the price consolidation channel after a breakthrough of the boundaries. The narrower the area, the higher the probability that price wil
200 USD
Tricky to find and scarce in frequency, divergences are one of the most reliable trading scenarios. This indicator finds and scans for regular and hidden divergences automatically using your favourite oscillator. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ] Easy to trade Finds regular and hidden divergences Supports many well known oscillators Implements trading signals based on breakouts Displays suitable stop-loss and take-profit levels Configurable oscilla
299 USD
Weis Wave with Alert MT5
Panagiotis Diamantopoulos
5 (8)
** NEW PLUTUS SIGNALS and ALL IN ONE ** Plutus Long and Short trading signals added (for more infor visit    http://www.tradethevolumewaves.com   Different Wave Types can be sellected. Choose what your cumulative Histogram diplays: Volume, Pips, Progressive Volume Rate, Time or Emphasized Volume Waves ** IF YOU PURCHASE DO NOT FORGET TO CONTACT ME BECAUSE THERE IS MORE. Free, two hour, one to one webinar covering setup , methodology and Q&A on any lifetime purchase. How to trade with it:   ht
499 USD
Sam TrendBlaster for MT5
AKILA THILINDA JAYARATHNA RANASINGHEGE
5 (1)
***** This is an indicator for MT5 providing accurate arrow signals without repainting. ***** Trade With Sam Simple Strategy Guide :  https://www.mql5.com/en/blogs/post/740855 MT4 version of the indicator Try Out and see the Difference The Sam's Trend Blaster indicator tracks the market trend with an unmatched reliability, by ignoring sudden fluctuations and market noise. It has been designed to trend-trade intraday charts and small timeframes. Its winning ratio is around 85%. This is a
98 USD
Introduction to X3 Chart Pattern Scanner X3 Chart Pattern Scanner is the non-repainting and non-lagging indicator detecting X3 chart patterns including Harmonic pattern, Elliott Wave pattern, X3 patterns, and Japanese Candlestick patterns. Historical patterns match with signal patterns. Hence, you can readily develop the solid trading strategy in your chart. More importantly, this superb pattern scanner can detect the optimal pattern of its kind. In addition, you can switch on and off individua
280 USD
About Ace Supply Demand Zone Indicator The concept of supply demand trading rely on the quantity mismatching between buying and selling volumes in financial markets. Supply and demand zone serves as the good entry in our trading. It provides you the detailed trading plan + the risk management. Its ability to predict market direction is high. There are two distinctive points about Ace Supply Demand Zone Indicator. Firstly, Ace Supply Demand Zone indicator was built on the non-repainting and non
100 USD
Introduction Advanced Price Pattern Scanner is the pattern scanner built upon our accumulative knowledge and insight from our financial market research many years. Advanced Price Pattern Scanner uses highly sophisticated pattern detection algorithm. However, we have designed it in the easy to use and intuitive manner. Advanced Price Pattern Scanner will show all the patterns in your chart in the most efficient format for your trading. Detectable Patterns Following pattern can be detected. Tri
180 USD
SmartChannels
Uladzimir Izerski
MT5. Определяет торговые каналы   и флет  актуальные на текущий момент. Принцип построения канала основан на волновой теории поведения цены. Индивидуальная разработка. Канал можно рассматривать как тренд. С закрашенным фоном это основные импульсные каналы. Коррекционные каналы без фона. Границы пробитых каналов выделены трендовыми линиями. Они будут являться линиями поддержки и сопротивления.   Это не стандартные каналы. Они вычисляются по новому принципу. В алгоритм заложена закономерность пове
120 USD
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AvgVolumes
Marco Montemari
5 (1)
This indicator is based on Volumes standard indicator, calculates the average of Volumes based on the last N bars set by users, and if the value of the volume is bigger then a set % respect the average a different color will be used. The indicator is shown in a separate indicator window. This version has now a limitation in setting the % about the threshold. If you are interested to set threshold consider to buy the PRO version ( https://www.mql5.com/en/market/product/35925 ) If you want to use
FREE
This indicator is based on Volumes standard indicator but it adds features than can be very usueful for the trader. This is the PRO(full working version) of the AvgVolumes the  https://www.mql5.com/en/market/product/29968  So if you wanna try first how it works, I suggest you to download the otehr indicator and if you need to change values of parameter, consider to buy this indicator.  Obviously volumes (number of ticks) are provided by the broker so they are not a unique value in the world but
FREE
This indicator is based on Volumes standard indicator. User must select the bars he wants to consider in the set period and an average is calculated on these bars.  Let 's see an example to make it clear: Today at 11 am the volume is 342....I want to comparise with the average of volume of yesterday and 2 days ago at the same hour. Alarm can be fired when : the current volume is higher than a set threshold respect the average calculated on selected bars the current volume is higher than at l
FREE
Forex Volumes
Marco Montemari
Forex is the most liquid market in the world. For this reason real volumes are not available. Some indicators use the number of ticks, in other cases the broker can supply volumes informations but they will be only data about that broker. Volumes are important becase they will form the price and volatility of the market. Using an algorithm this indicator can give you a very good approximation of the volumes for each candle. How to read the indicators? This version provides you many visualiza
67 USD
Spread T
Marco Montemari
4 (1)
Introduction If you are a fan of the Spread trading, you cannot miss this indicator. How To Use Find a high correlated pair( like EURTRY and USDTRY) (let 's call P1 and P2)  on a set Timeframe (suggested TF are H1 to D1)... Load this indicator into P1 window (ex. EURTRY). In the setting of the indicator write the P2 (USDTRY) and the AVG length. When the cross happens, enter into the trade. Let's check in detail how to operate. When the strength ratio line crosses down the up line, you ca
34 USD
Filter:
claudio.zeccolella
186
claudio.zeccolella 2020.04.17 12:58 
 

User didn't leave any comment to the rating

Marco Montemari
20681
Reply from developer Marco Montemari 2020.12.05 08:34
Thanks a lot.
I appreciate.
DigitalGeek
96
DigitalGeek 2020.01.29 03:08 
 

well i though the Renko would be directly in the charts ,ill add review thx u

Rigitti
54
Rigitti 2019.07.22 14:08 
 

This Indicator is very good!

Marco Montemari
20681
Reply from developer Marco Montemari 2020.12.05 08:34
Thanks a lot for your feedback. I really appreciate that.
Reply to review
Version 3.6 2021.10.23
FIX: added cross between avgs 2 and 3
Version 3.4 2021.01.09
Improvements
Version 3.3 2021.01.03
Improvement: more renko Charts can be added on the same pair.
Version 3.2 2020.12.18
Brick size in points
Version 3.1 2020.12.16
fix minor bugs
Version 3.0 2020.12.07
-removed cursor informations
-show loading in progress during bars creation
-added wicks and tails
Version 2.5 2020.12.07
Fix datetime on renko bars
Version 2.4 2020.12.06
Added time information on renko bars
Version 2.3 2020.07.23
Recompiled as suggested by MQ
Version 2.2 2020.04.28
Implemented no blocking Alert.
(It could be very dangerous to have a pop up window if the user in the while was doing some operation on the market)
Version 2.1 2020.04.28
Implemented Median Renko with no delay
Version 2.0 2020.04.18
-Added median renko mode
-Added push notifications to phone
Version 1.15 2020.04.15
Added true Renko mode
Version 1.13 2020.03.23
Added details about new bar
Version 1.12 2019.11.16
Fix:If connection is lost, many notifications are sent
Version 1.11 2019.11.09
switched off sync feature by default
Version 1.10 2019.11.04
Added Sync functionality
Version 1.9 2019.11.03
Fixed a bug, now the indicator can work also for high timeframes
Version 1.8 2019.07.29
Added push notification cross avg and fix
Version 1.7 2019.07.27
- Added alert on cross between AVGs
Version 1.6 2019.04.07
-Added Exponential Avg also fot the long running
-user can set a custom message in the push message
Version 1.5 2019.03.17
-Optimized to make it faster
-Custom event fired on a new bar creation
Version 1.3 2018.10.14
Added a Simple moving average slower
Version 1.2 2018.09.28
Improved some performances
Version 1.1 2018.09.08
Fix bug for high time frames