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Renko Advanced lite

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

It offers a different view to see the currency pair:full timeless indicator, 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.

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.

PS2: if nothing is displayed turn off the Sync feature


Introduced: datetime for renko bars and wicks.

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.


How to use

This is the lite version of the Renko Advanced indicator.

The only limitations of this version are some parameters can not set (read only). 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 low( depending of brick height) to have a good representation of historical bars, otherwise the user should adapt the timeframe related to brick height set.

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

How to set the brick height? It is a good questions, it depends of the duration we want to stay in the market, the volatilty of the market. A good choice could be using the ATR indicator to check the average value of candles in the TF we want to operate.
Renko is very good for giving the idea of the trend with very low noise. Just for 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: RenkoAdv, True Renko, Median Renko

The difference is :

-With RenkoAdv, every brick has drawn after a number of points 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 we have a smoother price movement

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

LONG Average type: simple moving average

Alert on new bar: Computer or phone notification is available

Alert on Avg cross: Computer or phone notification is available

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

Sync graph with midnight: Renko is not dependent by the time, so if you close the metatrader and open it again in few hours, the graph could be a little different by today. 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_PhoneAlarm=2,//Phone
   Alert_PcPhoneAlarm=3//Computer and Phone
  };

enum DisplayModex
  {
   Mode_TrueRenko=0,//True Renko
   Mode_RenkoAdv=1,//Renko Adv
   Mode_MedianRenko=2//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");




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Adding Average True Range (ATR) channels to Force Index had been suggested by Kerry Lovvorn. Adding these channels turns Force Index into an excellent tool for identifying intermediate tops and bottoms. Force Index with ATR channels does not catch all turns, but the ones it identifies deserve very serious attention. Note: the word “true” in Average True Range refers to dealing with price gaps. Since there are no gaps in Force Index, here ATR is the same as the Average Range. Whenever the Force I
50 USD
Belkhayate Gravity Center MT5 Custom
Ahmed Alaoui Chrifi
Belkhayate Gravity Center MT5 Custom The Belkhayate center of gravity indicator is best used to confirm major turning points, and distinguish price extremes. Generally if price reaches the upper or lower levels one should expect a turn around coming soon, or at least a pull back towards the centre line if there is a strong trend. The upper and lower levels are red and green lines. Our indicator use the same parameters as the well known trader M.Mostafa Belkhayate the inventor of the indi
50 USD
FX Market Correlation
Igor Pokorni
FX Market Correlation indicator calculates the weakness/strength from all 28 currency pairs in the market. This is unique and powerful way of watching the market. It works on all timeframes. You can use it for scalping, or you can use it for long term trading. FX Market Correlation indicator is NOT repainting. Features: --------- -easy determine which currency is strengthening and which is weakening -choose best currency pairs to trade and times to trade them -find correlation between pairs -N
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TraderDream Evolution MT5
Yehor Pozhydaiev
The indicator defines the trend direction (displayed using line color), shows recommended market entry points (as arrows) and helps tracking price volatility. You can use it as a standalone tool for market analysis or filter the signals using other indicators (you can use TraderDream Evolution from the higher timeframe or create it on the chart of the index belonging to the country whose currency you trade). Our team has been successfully using TraderDream Evolution for two years already for tra
129 USD
RSI Crossover Alert MT5
Thushara Dissanayake
The RSI Crossover Alert MT5 is a Notification System that is highly recommended for Relative Strength Index traders. This indicator focuses on the RSI crossover alert which is the combination of fast and slow RSI. It’s a good technique for filter traditional RSI signals to avoid false signals. Scalping Strategy 1 Buy Entry: Price is greater than EMA 200 RSI crossover Buy alert Sell Entry: Price is less than EMA 200 RSI crossover Sell alert Exit: Quick take profit (10-15 pips) Features Suita
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Smart Harmonic Pattern
Andrey Danilo Sagot Munoz
SMART HARMONIC PATTERN is an indicator that scans the market for potential geometric formations with fibonacci related mathematical formulas. It does a full recognition in the graphical history and live price without the need for complex analysis, since everything is calculated by the same indicator. You can also work with the old formations and recognize current trading levels automatically proyected on the chart, all this only with a click on the pattern formed. It has advanced settings so you
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Royale Scalping Indicator
Mostafa Tarakameh
Royal Scalping Indicator is an advanced price adaptive indicator designed to generate high-quality trading signals. Built-in multi-timeframe and multi-currency capabilities make it even more powerful to have configurations based on different symbols and timeframes. This indicator is perfect for scalp trades as well as swing trades. Royal Scalping is not just an indicator, but a trading strategy itself. Features Price Adaptive Trend Detector Algorithm Multi-Timeframe and Multi-Currency Trend
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Forex Volumes Eval
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 a customized algorithm, this indicator can give you a very good approximation of the volumes for each candle. How to read the indicators? This version is evaluation ve
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Renko MACD Demo
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The Renko MACD indicator is a poweful tool if used with the Renko indicator ( you can find here our Renko Adv product  https://www.mql5.com/en/market/product/31606 ) The indicator is a full timeless indicator and it can be used for manual trading or for automatized trading with some expert advisor.  Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages. In this case the averages are calculated on the renko
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Discrete channel lite
Marco Montemari
The  Discrete Channel  (kind of renko on time) is a very useful indicator to filter the market noise. It consists of two outer lines. Until the market price is between the boundaries of the channel nothing happens. If price move outside the channel, you can enter buy (if the up line is broken) or sell (if the bottom line is broken) How to use This is the lite version of the  Discrete channel indicator . The only limitation is in the channel height parameter. Max value can be 20 pips. It accept
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AvgVolumes PRO
Marco Montemari
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
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AvgVolumes
Marco Montemari
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
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Avg Volume Smart
Marco Montemari
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
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Discrete Channel
Marco Montemari
The Discrete Channel (kind of renko on time) is a very useful indicator to filter the market noise. It consists of two outer lines. Until the market price is between the boundaries of the channel nothing happens. If price move outside the channel, you can enter buy (if the up line is broken) or sell (if the bottom line is broken) How to use The indicator is very simple to use. It accepts 4 inputs for adjusting the behaviour based on the user preference. Channel height : the distance in ticks b
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Renko Advanced
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Renko MACD
Marco Montemari
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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
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Spread T
Marco Montemari
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
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hsok1
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hsok1 2020.12.07 04:13 
 

no words

Marco Montemari
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Reply from developer Marco Montemari 2020.12.07 07:25
What is the problem?
Valentin Butorin
3891
Valentin Butorin 2020.07.23 13:35 
 

User didn't leave any comment to the rating

rektMan
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rektMan 2019.04.21 07:07 
 

User didn't leave any comment to the rating

Reply to review
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 renkobars
Version 2.4 2020.12.06
Added time info on renko bars
Version 2.2 2020.04.28
-Implemented Median Renko with no delay

-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 2.0 2020.04.18
-Added median renko mode
-Added push notifications to phone
Version 1.15 2020.04.15
--Added True Renko visualization Mode
Version 1.14 2020.03.25
--New publish--
Version 1.13 2020.03.23
-On bar creation, info are given
Version 1.12 2019.11.16
Fix: if connection is lost, many push notifications were sent
Version 1.10 2019.11.04
Added Sync feature
Version 1.9 2019.11.03
Fix a bug, now indicator can be used with high timeframes
Version 1.8 2019.09.26
- Added alert on cross between AVGs
- Added push notification cross avg and fix
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