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Renko Scalping M1

The Renko indicator is a technical analysis tool used in the forex market to visualize price movements and trends by eliminating market "noise." Unlike traditional candlestick or bar charts, Renko is built based on price changes of a specified number of points, called the "brick size." When the price moves by this amount of points, a new "brick" is added to the chart. This indicator ignores time and volume, focusing exclusively on price changes. The main features of the Renko indicator include:

  1. Noise filtration: Since the Renko filter ignores minor price fluctuations, it helps traders better identify major trends and reversals.
  2. Trend identification: It is easier to identify upward and downward trends due to the clear visual representation of bricks.
  3. Entry and exit signals: The indicator can be used to generate trading signals. For example, a change in brick color can serve as a signal to buy or sell.
  4. Adaptability: Traders can adjust the brick size according to their preferences and market conditions. A smaller brick size provides a more detailed picture but can be noisier, while a larger brick size shows major movements but may miss minor trends.

The Renko indicator is especially useful for long-term traders and those who prefer trend trading, as it helps ignore insignificant price fluctuations and focus on significant movements.

Indicator settings:

  • RenkoBoxSize: Size of the Renko brick.
  • UpColor: Color of the Renko line for buying.
  • DownColor: Color of the Renko line for selling.
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Auto Order Block with break of structure based on ICT and Smart Money Concepts Futures Break of Structure ( BoS )             Order block ( OB )            Higher time frame Order block / Point of Interest ( POI )    shown on current chart           Fair value Gap ( FVG ) / Imbalance   ,  MTF      ( Multi Time Frame )    Volume Imbalance     ,  MTF          vIMB Gap’s Equal High / Low’s     ,  MTF             EQH / EQL Liquidity               Current Day High / Low           HOD /
Présentation       Quantum Trend Sniper Indicator   , l'indicateur révolutionnaire MQL5 qui transforme la façon dont vous identifiez et négociez les inversions de tendance ! Développé par une équipe de traders expérimentés avec une expérience commerciale de plus de 13 ans,       Indicateur Quantum Trend Sniper       est conçu pour propulser votre parcours de trading vers de nouveaux sommets grâce à sa manière innovante d'identifier les inversions de tendance avec une précision extrêmement élevée
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Version 2.0 2024.05.19
Fixed an error in deleting objects from the chart