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Renko Advanced

This Renko Advanced indicator 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 manual trading or for automatized trading with some expert advisor. When the price reaches a threshold a new block is created.

It takes advantage of a visualization  similar to Renko visualization type, offering less noise than usual candles bar.

The user can decide how to calculate the bars.

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.

This feature is very useful for using the indicator with an EA.

PS2: if nothing is displayed, check input parameter. For low TF it could be needed to turn off the Sync feature

If you want to display easily the difference between the 2 moving averages, you can try the RenkoMACD indicator.

How to use

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

Time frame should be low( like 5M but it depends of the brick height) to have a good representation of historical bars, otherwise the user should adapt the timeframe related to brick height set.

TF affects hystorical values considering that storical data supplies only OHLC values.

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

Renko is very good for giving the idea of the trend with very low noise. Just for giving you an example you can try EURUSD with 2 RenkoAdv: one with brick at 13 pips and another with brick at 50 pips.

INPUT parameters

DisplayMode: Renko, Median Renko (both with/without delay)

The difference is :

-With RenkoAdv, every brick has drawn after a number of pips 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 In inverting trend a new block is created after price has done the double of brick size

-With Median Renko with no delay. A new block is created every half brick.

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

Alert on new bar: Computer and/or phone notification is available

Alert on Avg cross: Computer and/or phone notification is available

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

Sync graph with midnight: 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

enum NewAlert
   Alert_No=0,//No Alert
   Alert_PcAlarm=1,//Computer Alert
   Alert_PcPhoneAlarm=3,//Computer Alert and Phone
   Alert_PcNLAlarm=4,//Computer (No Blocking)
   Alert_PcNLPhoneAlarm=5//Computer (No blocking)- Phone

enum DisplayModex
   Mode_TrueRenko=0,//True Renko (delayed)
   Mode_MedianRenko=2,//Median Renko (delayed)
   Mode_RenkoAdv=1,//Renko Adv
   Mode_MedianRenkoIMM=3//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");

Comentários 3
Rigitti 2019.07.22 14:08 

This Indicator is very good!

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O principal objetivo do indicador é detectar e marcar no gráfico os seguintes sinais de negociação descritos em "Trading Chaos (2-nd edition)": Divergência nas barras de alta e baixa com angulação (incluindo o squat). Barras nas zonas em vermelho e verde de acordo com a cor do histograma Awesome Oscillator. Barras Squat no gráfico são independente da cor do histograma Awesome Oscillator. Níveis de fractais "importantes" em relação à "linha dos Dentes" do indicador Alligator. Desenha raios de ang
60 USD
Blahtech Market Profile MT5
Blahtech Limited
Market Profile defines a number of day types that can help the trader to determine market behaviour. A key feature is the Value Area, representing the range of price action where 70% of trading took place. Understanding the Value Area can give traders valuable insight into market direction and establish the higher odds trade. It is an excellent addition to any system you may be using. Blahtech Limited presents their Market Profile indicator for the MetaTrader community. Inspired by Jim Dalton’s
119 USD
Advanced Supply Demand 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 this update, you will be able to  show double timeframe zones . You will not only be able to show a higher timeframe but to show both, the chart TF, PLUS the higher TF:  SHOWING NESTED ZONES . All Supply Demand traders will love it. :) Important Information Revealed Maximize the potential
128 USD
Pivot Prof
Paul Anscombe
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
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
Vitaly Muzichenko
Indicator of correlation and divergence of currency pairs - all pairs on one price chart. It shows all pair that are open in the terminal. Full synchronization of all charts. Does not work in the tester ! Версия для   МТ4 Advantages Traders who use multicurrency trading strategies can visually observe the price movement of selected pairs on a single price chart in order to compare the parameters of their movement. It is quite effective assistant for multicurrency trading - "paired trading" and
135 USD
Peace mt5 indi
Vasiliy Strukov
 ⭐⭐⭐⭐⭐ I am glad to welcome you on the page of my product - I am its author Vasily Strukov.⭐⭐⭐⭐⭐ The most important task of the trader is to discover the trend and follow it. Peace - a trend indicator, used to determine the current trend.  I use it to set the trading direction for the Idea Pro mt5  adviser (trade buy or trade sell). It works on all instruments - forex, indices, oil, gold, stocks and all time frames. Recommended time frame H1. For any questions you can write me a message  here
89 USD
claudio.zeccolella 2020.04.17 12:58 

Usuário não fez qualquer comentário quanto a classificação

DigitalGeek 2020.01.29 03:08 

well i though the Renko would be directly in the charts ,ill add review thx u

Rigitti 2019.07.22 14:08 

This Indicator is very good!

Responder ao comentário
Versão 2.3 2020.07.23
Recompiled as suggested by MQ
Versão 2.2 2020.04.28
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)
Versão 2.1 2020.04.28
Implemented Median Renko with no delay
Versão 2.0 2020.04.18
-Added median renko mode
-Added push notifications to phone
Versão 1.15 2020.04.15
Added true Renko mode
Versão 1.13 2020.03.23
Added details about new bar
Versão 1.12 2019.11.16
Fix:If connection is lost, many notifications are sent
Versão 1.11 2019.11.09
switched off sync feature by default
Versão 1.10 2019.11.04
Added Sync functionality
Versão 1.9 2019.11.03
Fixed a bug, now the indicator can work also for high timeframes
Versão 1.8 2019.07.29
Added push notification cross avg and fix
Versão 1.7 2019.07.27
- Added alert on cross between AVGs
Versão 1.6 2019.04.07
-Added Exponential Avg also fot the long running
-user can set a custom message in the push message
Versão 1.5 2019.03.17
-Optimized to make it faster
-Custom event fired on a new bar creation
Versão 1.3 2018.10.14
Added a Simple moving average slower
Versão 1.2 2018.09.28
Improved some performances
Versão 1.1 2018.09.08
Fix bug for high time frames