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Renko Advanced

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.
With the version 1.5 also a push notification was introduced when a new bar is created. This feature is very useful for using the indicator with an EA.


How to use

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

The only limitation of the lite version is in the brick height parameter (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( 1M, 5M or 15M) 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!


INPUT parameters


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

Push notification for EA using: when a new bar is created, a custom event is sent


Give us a feedback and a comment please.

Using with an EA


enum TypeCalc
  {
   1,2
  };
//+------------------------------------------------------------------+
//|                                                                  |
//+------------------------------------------------------------------+
enum AverageCalc
  {
   Simple=1,Exponential=2
  };

//Example of Call 

int handle_adv=iCustom(NULL,Period(),"Downloads\RenkoAdv",3,2,3,2,6,2,9,true);



レビューなし
バージョン 1.5 2019.03.17
-Optimized to make it faster
-Custom event fired on a new bar creation
バージョン 1.3 2018.10.14
Added a Simple moving average slower
バージョン 1.2 2018.09.28
Improved some performances
バージョン 1.1 2018.09.08
Fix bug for high time frames