Renko Advanced lite
The Renko Advanced 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 using for manual trading or also for automatized trading with some expert advisor. When the price reaches a threshold a new block is created.
It takes advantage of the Renko visualization type offering less noise than usual candles bar. The user can decide how to calculate the Renko bar.
The indicator beside the Renko bars, shows also 3 moving averages.
How to use
This is the lite version of the Renko Advanced indicator. The only limitation is in the brick height parameter. Max value can be 20 pips. In this way the user can start to appreciate the Renko visualization and how this indicator can be very powerful and simple at the same time.
Time frame should be lowest as possible( 1M, 5M or 15M) to have a good rapresentation of historical bars.
PS: please rate this indicator and leave a comment. Do not forget: your feedbacks are important!
Box size (in Pip): the thickness of the renko bar in pips
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
LONG Average type: simple moving average
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