KT Renko Live Charts MT5

Trade and backtest on real Renko bricks in MetaTrader 5. KT Renko Live Charts MT5 is a utility EA that creates a live Renko chart as its own symbol, so your indicators, your Expert Advisors and the Strategy Tester work on it the same way they work on any normal chart.

Most Renko indicators only paint bricks over a time chart, and nothing else in MetaTrader can read them. This utility gives you a real Renko chart instead: attach it to EURUSD with a 10 pip box and a chart named EURUSD_10_PIPS opens, full of history and printing new bricks live.

What it changes for you

• Run any indicator on Renko: moving averages, oscillators, templates and your own custom indicators work on the bricks without any change.
• Let your EA trade Renko: attach your Expert Advisor to the Renko chart and let it send its orders to the real symbol, which the status panel names for you.
• Backtest Renko strategies: select the Renko symbol in the Strategy Tester and test on up to 3,650 days of history. The symbol and its history stay in MetaTrader 5 even after you remove the utility.
• The right brick for every market: set the box in pips for forex, in points for gold and in ticks for indices and futures. Every finished brick is exactly one box tall.
• Bricks the moment price moves: new bricks are built from live ticks, so a brick prints as soon as price travels one full box, not at the close of a candle.
• Wicks when you want them: turn wicks on to see how far price pushed against each brick before the brick closed.
• Set it once: restart MetaTrader or change the timeframe of the source chart, and the same Renko chart comes back. No duplicate charts.
• As many Renko charts as you need: each symbol and box size gets its own name, so EURUSD_20_PIPS and EURUSD_5_PIPS run side by side.
• Works with your broker's symbol names: names with suffixes, such as EURUSD.m or GER40_cash, are handled, and the Renko symbol keeps the full name.

Set up in three steps

• Attach KT Renko Live Charts MT5 to a chart of the symbol you want, on any timeframe.
• Choose the box size type and the box size, then press OK.
• The Renko chart opens beside the source chart. Keep the source chart open, and the Renko chart keeps receiving new bricks.

The status panel on the source chart shows the Renko symbol, the box size, the number of bricks, the time of the last brick and the real symbol your Expert Advisor must trade. KT Renko Patterns EA has a Symbol Name input for exactly this.

Recommendations

• Forex: a box of 10 to 20 pips suits most major pairs and crosses.
• Gold and indices: set the box in points or ticks, for example 500 points on gold, so every brick is a round price move.
• History length: 90 days is enough for chart reading; set a year or more when you plan to backtest.
• Pair two box sizes of one symbol: a large box to follow the trend and a small box to time your entries.

Input parameters

• Box Size Type (default Pips): measures the brick in pips, points or ticks (the smallest price step of the symbol).
• Renko Box Size (default 10): the height of one brick, in the unit chosen above.
• Show Wicks (default false): adds wicks that show how far price moved against the brick.
• History Days to Build (default 90): how many days of one-minute history become Renko bricks, up to 3,650.

Stop looking at Renko, start working with it

A Renko indicator is enough when you only want to look at bricks. When you want Renko bricks that your indicators, your Expert Advisors and the Strategy Tester can use, KT Renko Live Charts MT5 gives you that chart in a few clicks.