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Median and Turbo renko indicator bundle

Robust median Renko style indicator for creating custom charts resembling Median Renko, Mean Renko, Turbo Renko and Better Renko candles as well as vanilla Renko with wicks plus Point-O charts. This all in one package provides all of the signals needed by day traders, scalpers, and even long-term traders.


Main characteristics

  • The indicator is an overlay on the main chart so it is possible to utilize one-click trading and order manipulation directly on the custom charts. Visual order placement is also possible.
  • History calculated using real tick data.
  • Built-in technical studies: 3 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weighted using tick volume or real volume), Bollinger Bands, Donchian channel, Super Trend.
  • Price level indications for current bar close levels, which are conveniently displayed to the right of the current bar.
  • Optional display of monthly, weekly and daily pivot levels.
  • Optional display of daily R1, R2, R3 & S1, S2, S3 resistance & support levels for the current trading day.
  • Optional display of previous day's high, low and close levels.
  • Optional ATR based bar size calculation.
  • Optional first Renko open offset.
  • Audio, Push notifications and text alerts for new bar open events and/or reversals (different audio files can be assigned for bearish and bullish reversals).
  • Convenient display of current bar's open date/time along with bar size and retracement factor information.
  • Color indication of last day's bar for easy history assessment.
  • Color markup of phantom Renko bars (gaps).
  • Each bar has its own info regarding the bar's Open, Low, High, Close values, as well as the Tick Volume, Real Volume (with breakdown of buy/sell volume) and Bar open time for use by EAs (saved as double in indicator's buffer and available via dedicated Data Window).
  • A dedicated data window is displayed when left-clicking a Renko bar while holding down the CTRL key.


Indicator Settings

  • Bars size (in points).
  • Retracement factor (0.01 to 1.00).
  • Asymmetrical reversals (true/false).
  • Show wicks (true/false).
  • ATR based bar size calculation (user editable ATR period and percent of daily ATR value used for bar size calculation).
  • Show history for defined number of days (plus current day).
  • Apply offset to first Renko (plus offset value).
  • Synchronize first bar's open on a new day (true/false).
  • Top/Bottom padding (0.0 - 1.0) - used to set the margins above and below the visible high & low of the visible Renko chart.
  • Show Monthly, Weekly and Daily pivot levels plus Daily R1, R2, R3 & S1, S2, S3 (calculated using Classic or Fibonacci method) as well as previous day's High, Low & Close levels with color definitions.
  • Pivot Point calculation method ( (H+L+C)/3 or (O+H+L+C)/4 ).
  • Show current bar's close projections (true/false) + bullish bar projection color and bearish bar projection color.
  • Display current bar's open time along with bar size and retracement factor (true/false) + Current bar's open time info color.
  • Alert on a new bar (true/false)
  • Alert on reversal bar (true/false)
  • Alert on MA crossover (true/false) - 1st MA (fast) & 2nd MA (slow) need to be enabled for the alert to work
  • Display alert in Alert Window (true/false)
  • Play sound on alert (true/false)
  • Send alert via push notification to a smartphone (true/false)
  • Use sound file for bullish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
  • Use sound file for bearish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
  • Settings for first MA - 3rd MA.
  • Show Channel (None, Donchian Channel, Bollinger Bands, Super Trend).
  • Donchian Channel period of averaging.
  • Bollinger Bands apply to.
  • Bollinger Bands period.
  • Bollinger Bands deviations.
  • Super Trend period.
  • Super Trend multiplier.
  • Display as bar chart (true/false).
  • Shift objects with chart (true/false)
  • Indicator used in EA via iCustom() (true/false) - Set this to true only when calling the indicator from an EA, another indicator or Script.

The first 5 settings are used for defining the type of chart that should be displayed and the next three are utilized for optional synchronization of chart's starting point for maximum consistency.

The following settings are used for turning ON/OFF various information on the chart to suit individual needs. These are followed by settings are used for custom alerting of new bars and new bar reversals.

Finally the last settings enable the trader to add 3 custom Moving Averages and a Donchian Channel, Bollinger Bands or Super Trend channel to perform technical studies directly on the Median Renko or Turbo Renko charts.

Below, you'll find the settings for creating several commonly utilized charting types:

  • Median Renko
    • Retracement factor = 0.5
    • Asymmetrical reversals = yes
    • Show wicks = yes
  • Vanilla Renko with wicks
    • Retracement factor = 1.0
    • Asymmetrical reversals = yes
    • Show wicks = yes
  • Turbo Renko
    • Retracement factor = 0.25
    • Asymmetrical reversals = yes
    • Show wicks = yes
  • Hybrid Renko
    • Retracement factor = 0.25
    • Asymmetrical reversals = no
    • Show wicks = yes
  • Point-O
    • Retracement factor = 1.0
    • Asymmetrical reversals = no
    • Show wicks = yes
Comentários 22
189114nickynomates
229
189114nickynomates 2020.10.12 10:28 
 

This opens a whole new world to trading. I have brought many indicators and ea over the years the majority giving big promises but little in the way of results. Nothing comes close to this. Its a plug and play for the thinking trader. The Renko build is great and all you could ever ask for and the collection of indicators put together for help is just awesome. I very much hope i can run with a great ea i found that would be my dream. Keep up the great work Arhur look forward to many years of perfecting perfect trading.

waveriderj
19
waveriderj 2020.09.20 19:47 
 

5-star functionality

Jonathan Vodini
297
Jonathan Vodini 2020.06.30 19:43 
 

fantastic indicator, all you need in one, 5 stars!

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Um excelente indicador ... Obtenha oportunidades de negociação incríveis com o Pivot Prof e use os níveis que os profissionais usam para aprimorar sua negociação hoje! O Pivot Prof é rico em recursos e usa algoritmos exclusivos para calcular e exibir os níveis de negociação de vários prazos em um único gráfico fácil de ler e fornece alertas de terminal, celular e e-mail, além de personalização completa. Atualização Importante Maximize o potencial do Pivot Prof visitando o Pivot Prof - Trading
79 USD
AW Trend Predictor MT5
Alexander Nechaev
The combination of trend and breakdown levels in one system. An advanced indicator algorithm filters market noise, determines the trend, entry points, as well as possible exit levels. Indicator signals are recorded in a statistical module, which allows you to select the most suitable tools, showing the effectiveness of the signal history.  The indicator calculates Take Profit and Stop Loss marks. Important information:  To use the full potential of the indicator, we strongly recommend that you
55 USD
VTrende
Andrey Dyachenko
VTrende - MTF indicator for trend trading with a display panel for MT5 Although the signals of the VTrende indicator can be used as signals of a full-fledged trading system, it is recommended to use them in conjunction with the Bill Williams TS. The main task of the indicator - is to determine the points of change in the direction of the trend. The indicator signal appears in two versions: Advance - when the trend ends To be continued - when the trend is already on The indicator sho
497 USD
Meta Trend
Ehsan Tarakemeh
Meta Trend Indicator  is the most efficient way to forecast and detect the trend in any market. It reveals the trend, support and resistance levels, volatility and the maximum potential target, all in one indicator. To adapt to the price and to decrease consecutive trend failures, the internal trend detector algorithm studies the market and dynamically chooses the right values for the internal parameters. This indicator is a perfect trend filter for any strategy or expert advisor. Click here for
99 USD
Excessive Momentum Indicator MT5
Young Ho Seo
Introduction Excessive Momentum Indicator is the first indicator to measure the excessive momentum directly from raw price series. Hence, this is an extended price action and pattern trading. Excessive Momentum Indicator was originally developed by Young Ho Seo. This indicator demonstrates the concept of Equilibrium Fractal Wave and Practical Application at the same time. Excessive Momentum detects the market anomaly. Excessive momentum will give us a lot of clue about potential reversal and bre
250 USD
Advanced Currency Strength28 MT5
Bernhard Schweigert
⭐⭐⭐⭐⭐  Best Solution for any Newbie or Expert Trader! This Indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. With only ONE chart you can read Currency Strength for 28 Forex pairs! Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity? USER MANUAL: click here The SPECIAL: Arrows in sub-window to show strong currency moment
128 USD
Naked Forex Tweezer Pro Indicator for MT5
Renaud Candel
Tweezer Pro Indicator is a pattern recognition indicator for Forex, Stocks, Indices, Futures, Commodities and Cryptos. The standard Tweezer is a two bar pattern. Our enhanced version is a multi-bar pattern. We filter the patterns for you so that you only get the   best and most effective patterns   and ignore the noise. The Tweezer pattern is a simple and effective pattern to trade. The strategy that comes with the Tweezer is based on price action. The Tweezer Pro version let users
177 USD
Aggression On Bars
Flavio Jarabeck
Imagine a Buy and Sell Pressure monitor on your chart that shows in REAL-TIME this data, bar by bar? Well, imagine no more. We present you an exclusive creation of Minions Labs : Aggression On Bars indicator. On every new bar on you chart this indicator will start counting in real-time the BUY/SELL pressure and present this data statistics directly inside your chart. As soon as a new bar is created in your chart, the counter restarts. Simple and effective. Just watch the video to see it running
60 USD
PZ Harmonacci Patterns MT5
Arturo Lopez Perez
Este é sem dúvida o indicador de reconhecimento automático de formação de preço harmônico mais completo que você pode encontrar para a MetaTrader Platform. Ele detecta 19 padrões diferentes, leva as projeções de Fibonacci tão a sério quanto você, exibe a Zona de Reversão Potencial (PRZ) e encontra níveis adequados de stop loss e take-profit. [ Guia de instalação | Guia de atualização | Solução de problemas | FAQ | Todos os produtos ] Detecta 19 formações harmônicas de preços diferentes Tr
399 USD
TrueSR Multi TF Support Resistance alert and panel
Behzad Movaghar
TrueSR indicator is a multi-timeframe panel and alert that finds nested support and resistance zones for all timeframes and gives alert when price has interaction with those zones. If you are using support and resistance (or supply and demand) zones in your trading strategy, this indicator and its alert and filtering system is a big time saver for you. Also doesn't matter what is your trading strategy, this indicator helps you to not caught in support and resistance zones. Indicator shows if pri
120 USD
PipTick VSA MT5
Michal Jurnik
PipTick VSA is based on the original Volume Spread Analysis method. It was designed for quick and easy recognition of VSA patterns. Even though this indicator looks very simple, it is the most sophisticated tool that we've ever made. PipTick VSA indicator is a really powerful analytical tool that generates very reliable trading signals. Because it is very user friendly and understandable, it is suitable for every type of trader, regardless of his experience. What is VSA? VSA - Volume Spread An
97 USD
MA Trend Scanner MT5
Mahan Movaghar
Moving Average Trend Scanner is a multi symbol multi timeframe trend dashboard that helps traders to monitor, and identify potential market trends from one chart. This panel scans 3 moving averages in 28 configurable instruments and 9 timeframes for moving average alignment and moving average crossover. MA Trend Scanner features: Customizable short-term, medium-term, and long-term MAs. All 21 MT5 timeframes support. Option to filter signals based on a minimum distance between moving averag
50 USD
LT Easy Market
Thiago Duarte
Easy Market torna o mercado mais fácil de operar. Ele te proporciona ver um mercado "eternamente" lateral (sem tendência), tornando extremamente fácil ver quando o preço está sobre comprado ou sobre vendido. Tanto quem gosta de operar tendência quanto mercado consolidado irá gostar do Easy Market. Você pode usá-lo como uma janela auxiliar (em baixo do gráfico) ou em modo tela cheia. Veja as capturas de tela e note como ele te dá entradas precisas! Versão de demonstração:   https://www.mql5.com/p
50 USD
Pivot Channels PRO MT5
Dmitry Zmitrovich
⭐⭐⭐⭐⭐ I'm glad to present you my new "Pivot Channels Pro" indicator. ⭐⭐⭐⭐⭐ It builds on my previous indicators and over six years of experience using them. This indicator includes all the best strategies that I have researched. When developing and optimizing, I used ML algorithms. The indicator is very easy to use. Now the indicator has 3 basic strategies and the ability to customize your own strategy. I am constantly looking for better strategies. Telegram channel:   https://t.me/d_product
99 USD
RadarPriceActionMT5
Roman Lipatov
Эта панель предназначена для быстрого визуального поиска паттернов "price action" по нескольким торговым инструментам одновременно. Есть возможность добавлять и удалять торговые инструменты. По клику на сигнальную кнопку осуществляется быстрый переход на график с данным паттерном и таймфреймом. Панель ищет 8 свечных паттернов: PIN-BAR, EXTERNAL BAR, INSIDE BAR, DOJI, LEVEL, HIGH/LOW OF N BAR, FAKEY, ONE-WAY N BAR. Отключение любого из паттернов осуществляется кликом по его заголовку. Также имеет
75 USD
Filtro:
gaswim
54
gaswim 2020.10.12 18:01 
 

Hello everyone I have bought median renko but I have some problem when I want to backtest with Mt5 backtester. Is there a solution. Please. Could someone help me.

189114nickynomates
229
189114nickynomates 2020.10.12 10:28 
 

This opens a whole new world to trading. I have brought many indicators and ea over the years the majority giving big promises but little in the way of results. Nothing comes close to this. Its a plug and play for the thinking trader. The Renko build is great and all you could ever ask for and the collection of indicators put together for help is just awesome. I very much hope i can run with a great ea i found that would be my dream. Keep up the great work Arhur look forward to many years of perfecting perfect trading.

Michael Edwards
28
Michael Edwards 2020.09.25 11:46 
 

Usuário não fez qualquer comentário quanto a classificação

eliseexige
377
eliseexige 2020.09.23 16:18 
 

after multiple attempts during live markets, this is just like the rest of Artur's products. It will freeze, it will refresh the data and screw up custom indicators, and it will cost you because of it. I'd give this a 0 or negative star rating if it were possible. AVOID if you are a serious trader and need stability in fast markets, because you won't get it here.

waveriderj
19
waveriderj 2020.09.20 19:47 
 

5-star functionality

Paul Piper
23
Paul Piper 2020.07.20 06:46 
 

Usuário não fez qualquer comentário quanto a classificação

Jonathan Vodini
297
Jonathan Vodini 2020.06.30 19:43 
 

fantastic indicator, all you need in one, 5 stars!

Devonish
1342
Devonish 2019.09.04 20:43 
 

A quality tool and the developer was very helpful in resolving some minor issues I had.

StevenP
33
StevenP 2019.06.12 21:34 
 

This is a great indicator. So many options. Great developer

Traine
141
Traine 2019.02.11 01:48 
 

I am looking for the EA you made for this indicator.

Andre Gomes
1110
Andre Gomes 2019.01.04 22:56 
 

Very useful. I totally recommend it!

ALETRADEX
43
ALETRADEX 2018.09.29 18:54 
 

Usuário não fez qualquer comentário quanto a classificação

Michael Maggi
1465
Michael Maggi 2018.09.05 04:56 
 

This is a great indicator. I use it every day and have for a long time. Some of my trading strategies are outlined on my profile page with shared charts.

BMAT
22
BMAT 2018.08.20 15:19 
 

Trying to RE INSTALL it on a new computer and it wont work... THe only path to install is through the link (install on the plataform) but it wont work.

With the MT5 open I also go to Library - Purchased and it show the message (purchased but not dowloaded) and a button to INSTALL... It doesnt work! Please help. Thanks

Xavier507
40
Xavier507 2018.05.03 17:46 
 

Não consigo instalar o Renko, gostaria de ajuda. obrigado

wladimirwf
64
wladimirwf 2018.04.19 16:30 
 

Simplesmente NÃO CONSIGO instalar o indicador...ao tentar instalá-lo, aparece um "MedianRenkoOverlay_Trial" (versão TRIAL???) no Navegador, e ao arrastá-lo pra janela do gráfico, também não entra!!! Gostaria de uma solução pro meu problema!!!

AndreiDuke
31
AndreiDuke 2017.12.21 16:25 
 

Artur, thanks for the great indicator. I liked the communication with the author. Artur answered all my questions. Maybe this is the best Renko indicator and realy best Renko on Metatrader. Excellent work and thanks again!

kwlin_089
302
kwlin_089 2017.11.25 03:16 
 

Do not recommend to use automated! If you want to use it manually it will be useful

Carlos Giunti
864
Carlos Giunti 2017.08.24 22:54 
 

Great indicator, Amazing support from Artur Zas,

Very responsive. A+++++

Renat Safin
81
Renat Safin 2017.08.11 15:50 
 

A good implementation of the Renko, but without the histograms of tick and real volume it is not very practical.

Henrique Sameshima De Souza
164
Henrique Sameshima De Souza 2017.04.24 23:44 
 

Great indicator, the developer is very responsive.

Julio Monteiro
2120
Julio Monteiro 2017.04.24 22:52 
 

The developer is very responsive to feedback and has made many improvements in the short time.

Responder ao comentário
Versão 3.11 2020.10.12
Maintenance release
Versão 3.10 2020.09.30
Fixed "Truncate trailing digits on the first renko" setting for situations where the offset is equal to the number of digits after the decimal point.
Versão 3.9 2020.09.24
Added alerts for bearish or bullish only reversals;
Replaced and fixed the optional "First pip offset" by more intuitive "Truncate trailing digits on the first renko";
Fixed compatibility issues with the latest MT5 builds.
Versão 3.8 2020.07.07
Fixed LWMA indicator bug
Removed "H1" timeframe restriction.
Versão 3.7 2020.06.18
Price projections update bugfix.
Versão 3.6 2020.06.16
Recompiled for better compatibility with the latest MT5 builds
Versão 3.5 2020.03.26
Fixed alert handler
Versão 3.4 2020.03.25
Memory usage optimization
Versão 3.3 2020.03.22
Optimizations
Versão 3.2 2020.03.18
FIxed ATR based renko size calculation
Versão 3.1 2020.03.13
Code maintenance update
Versão 3.0 2020.03.11
BREAKING CHANGES (full info in comments)!
======================================
Completely rewritten tick data engine (fixed all known and reported bugs found in the previous version)
Renko body size is now denoted in "ticks" for better compatibility with stocks, futures, and indices.
Added 4th MA
Added Linear regression to the available MA types
Added Keltner Channel to the available channel types
Added optional trading session timespan with optional gray out of the after-hours zone (useful for futures and stock traders)
Added more settings to the "Show pivot settings" dropdown
Added optional price labels for MAs and Channel lines
Alert setting inputs are now consolidated (from 6 to 2 variables)
Bar close projection colors are now taken from the candle colors (1 and 2).
Versão 2.17 2019.09.05
Bugfix for last bar refresh problem found in previous version
Versão 2.16 2019.09.03
Fixed "duplicate tick" processing problem on the extremely fast-moving charts.
Fixed problem with brokers having an incorrect symbol specification info.
Added various optimizations and improvements.
Versão 2.15 2019.08.29
Fixed problem with "invisible renko bars" when backtesting with latest MT5 builds.
Versão 2.14 2019.08.27
Bugfix (fixed incorrect tick volume calculation for some historical renko bars)
Versão 2.13 2019.07.30
Changed "Bars size (in points)" input name to "Renko body size (in point)"
Changed "Renko body size (in point)" input field type from "integer" to "long"
Versão 2.12 2019.05.24
Bugfix: fixed problem with certain settings resulting in a blank chart.
Versão 2.11 2019.05.13
Bug fix: Fixed backtesting bug
Versão 2.10 2019.04.24
Small enhancements & code cleanup
Versão 2.9 2019.03.28
Added signal candle's close price to alerts;
Code cleanup.
Versão 2.8 2018.12.15
Bug fix & maintenance update
Versão 2.7 2018.12.12
Bug fixes
Versão 2.6 2018.11.23
Maintenance release
Versão 2.5 2018.06.29
Maintenance release - code optimization
Versão 2.4 2018.05.17
Bug fix: Fixed backtesting bug.
Versão 2.3 2018.05.17
Bug fixes.
Added: 2 MA cross alert (MA1 = fastMA, MA2 = slowMA)
Changed: Alert settings
Versão 2.2 2018.02.27
Maintenance update
Versão 2.1 2017.11.22
Maintenance release
Versão 2.0 2017.11.09
Version 2.00 uses real tick data to build and update the charts.
Added: Real tick volume (with Buy/Sell breakdown) is presented where available
Added: First Renko offset setting
Added: Classic or Fibonacci pivot lines plus support (S1,S2,S3) & resistance (R1, R2, R3) levels
Added: Previous sessions High, Low and Close levels
Added: Third moving average
Added: Volume weighted moving average method (using tick volume or real volume)
Added: Optional ATR based bar size calculation
Added: Optional display as bar chart (useful when using with Heiken Ashi indicator)

All known bugs in version 1.47 have been fixed
Versão 1.47 2017.06.06
Bug fixes
Versão 1.46 2017.04.10
Added "shift" parameters to Moving Averages
Added "SuperTrend" channel indicator
Added support for adding external indicators (via API)
Versão 1.45 2017.03.23
Changed: Data window is now displayed when holding CTRL + Left Mouse button
Added: Display of bar size / retracement setting info on chart
Added: Extra padding space on top & bottom of chart
Added: Possibility of changing bar colors for gap filling bars
Fixed: Price projections for certain Renko configurations
Versão 1.44 2017.03.06
Added Bollinger Bands technical indicator
Added Renko Data Window (press and hold the left mouse button on a selected Renko bar)
Versão 1.43 2017.02.24
Bug fix: Visual backtest now works correctly when indicator is used in an EA
Added new input: Indicator used in EA by iCustom() (true/false) (Prevents incorrect shifting of objects on chart when indicator used in an EA).
Versão 1.42 2017.02.17
Added sending new bar/new reversal bar notifications to a smartphone via MetaTrader app.
Versão 1.41 2016.07.27
Added: New "Show wicks" (true/false) option for enabling/disabling display of wicks on candles.
Changed: Code optimization.
Versão 1.40 2016.07.13
Added two new chart types:
- PointO (Retracement = 1.00, Symmetrical reversals = FALSE)
- Renko with wicks (Retracement = 1.00, Symmetrical reversals = TRUE)

All custom chart types are now displayed as an overlay on the main chart, so you can use visual order placement and modification directly on the chart.
Versão 1.30 2016.06.03
Added 2 moving averages and Donchian Channel technical indicators
Versão 1.2 2016.05.26
Bug fix of "Buffer overrun" on indicator startup when starting MT5 after few days of inactivity.