YY Line of Renko on the Chart

5

            This indicator is the basis for an Expert Advisor that can be categorized as "almost Grail". See details below.

            This indicator displays the projection of the Renko chart on the price chart. This projection is displayed as a stepped line, not as "bricks" (rectangles). See slides 1 and 2. Abbreviated name of the indicator: LRC – Line of Renko on the price Chart.

            The principle of its construction is very simple. First, a grid of horizontal lines (levels) is built with a given step and offset. Then a Renko Line is built using these levels: if the price touches a new neighboring level, then the Renko Line "jumps" to this level, forming a "step". If the price of this candle does not touch any of the neighboring levels, then the Line continues to the right.

            Despite its simplicity, on the basis of this indicator (as mentioned above) it is possible to build an Expert Advisor that has the characteristics of "almost Grail". An example of such an Expert Advisor called "Renko Random Robot" can be seen here [link]. But first things first. First, let's take a closer look at this indicator, and why it is the basis of the "almost Grail". Then (optionally) you can view the Expert Advisor built on the basis of this indicator using the link above.

 

         Parameters

 

  • Step of Levels in points – level grid step in points, on the basis of which the Renko Line is built;
  • Shift of Levels in points – shift of the entire grid of levels in points (a negative number means a shift down);
  • Show Level Lines – show the level grid;
  • Level Line Color – the color of the grid lines of the levels;
  • Level Line Style – the style of the grid lines of the levels;
  • Level Line Width – the width of the grid lines of the levels.

 

         Why is this indicator needed?

 

            Firstly, it shows the price movement in a more general (compressed) and simplified way. And this, in turn, simplifies the analysis of price movements. What is meant? As you know…

 

* * *

 

<For the continuation and full text of the description, see the attached file in the first post on the "Comments" tab>

 


Değerlendirmeler 3
Moamin Aljaro
58
Moamin Aljaro 2025.03.16 16:59 
 

It is very easy and user friendly

Dest T
33
Dest T 2024.02.27 12:30 
 

best Indicator I've seen on this platform it doesn't look like much but this indicator is very very useful especially in no indirection of the trend I would recommend this indicator to anyone out there looking to make money in the market very Useful in the chaos especially with my strategy I'll give this indicator a 10 out of 10 and would recommend it to anyone One of the most underrated indicator on this platform good job for the creator

sunhuanhuana
106
sunhuanhuana 2022.10.08 07:19 
 

nice

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Bu gösterge, pratik ticaret için mükemmel olan otomatik dalga analizine yönelik bir göstergedir! Dava... Not:   Dalga sınıflandırması için Batılı isimleri kullanmaya alışkın değilim. Tang Lun'un (Tang Zhong Shuo Zen) adlandırma kuralının etkisiyle, temel dalgayı   kalem   , ikincil dalga bandını ise   segment   olarak adlandırdım. aynı zamanda segmentin trend yönü vardır. Adlandırma   esas olarak trend segmentidir   (bu adlandırma yöntemi gelecekteki notlarda kullanılacaktır, öncelikle söyleyey
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Mohamed Hassan
Göstergeler
Genesis Matrix Pro is a professional multi-timeframe trend detection indicator designed to help traders identify high-quality market alignment with clarity and structure. It combines 12 different technical indicators into one visual alignment matrix, allowing traders to quickly see when market conditions are bullish, bearish, or neutral. A signal is generated only when the selected strategies are aligned, helping reduce noise and improve decision-making. PLEASE CONTACT ME AFTER PURCHASE TO GET
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Issam Kassas
3 (1)
Göstergeler
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Georgios Kalomoiropoulos
4.82 (22)
Göstergeler
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PZ Trend Trading
PZ TRADING SLU
4.8 (5)
Göstergeler
Capture every opportunity: your go-to indicator for profitable trend trading Trend Trading is an indicator designed to profit as much as possible from trends taking place in the market, by timing pullbacks and breakouts. It finds trading opportunities by analyzing what the price is doing during established trends. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ] Trade financial markets with confidence and efficiency Profit from established trends without getting whips
Gold Indicator MT4
MQL TOOLS SL
Göstergeler
Step into the world of Forex trading with confidence, clarity, and precision using   Gold Indicator   a next-generation tool engineered to take your trading performance to the next level. Whether you’re a seasoned professional or just beginning your journey in the currency markets, Gold Indicator equips you with powerful insights and help you trade smarter, not harder. Built on the proven synergy of three advanced indicators, Gold Indicator focuses exclusively on medium and long-term trends eli
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Vahidreza Heidar Gholami
3.5 (6)
Göstergeler
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Yohana Parmi
4.85 (61)
Göstergeler
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Genki Andou
5 (1)
Göstergeler
M30/H1/H4 Swing versiyonu mevcut Büyük hareketleri yakalamak mı istiyorsunuz? Gold Signal Swing Pro (M30/H1/H4). Hedef: işlem başına $20-$80+. https://www.mql5.com/en/market/product/177643 KURAMA GOLD SIGNAL PRO (MT4) — 7 Katmanlı Filtre, Otomatik TP/SL ve Kalite Puanı ile Komple XAUUSD Trading Sistemi REPAINT YOK. YENİDEN ÇİZİM YOK. GECİKME YOK. Her sinyal kalıcıdır. Gördüğün, aldığındır. BONUS: Ömür boyu lisansı al ve AI Zone Radar ($59 değerinde)
BTMM State Engine Pro MT4
Garry James Goodchild
Göstergeler
BTMM State Engine Pro is a MetaTrader 4 indicator for traders who use the Beat The Market Maker approach: Asian session context, kill zone timing, level progression, peak formation detection, and a multi-pair scanner from a single chart. It combines cycle state logic with a built-in scanner dashboard so you do not need the same tool on many charts at once. What it does Draws the Asian session range; session times can follow broker server offset or be set in inputs. Tracks level progression (L
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Bernhard Schweigert
4.91 (300)
Göstergeler
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Neo Wave PRO
Nikolay Raykov
Göstergeler
Price & Time Market Structure Indicator A professional market structure tool that analyzes waves through both price and time — not price alone. Main Description NeoWave PRO is a professional market structure indicator for MetaTrader 4 designed for traders who want to move beyond traditional one-dimensional wave tools such as ZigZag, swing indicators, and basic high/low systems. Most wave indicators analyze only one thing: Price. But a real market wave is not only a price movement. A true wave de
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Roman Podpora
5 (1)
Göstergeler
Bu gösterge, fiyat dönüş noktalarını ve fiyat geri dönüş bölgelerini doğru bir şekilde gösterir.       Başlıca oyuncular   . Yeni trendlerin nerede oluştuğunu görüyorsunuz ve her işlem üzerinde kontrolü elinizde tutarak, azami hassasiyetle kararlar alıyorsunuz. TREND LINES PRO   göstergesiyle birlikte kullanıldığında maksimum potansiyelini ortaya koyar.  VERSION MT5 Göstergenin gösterdiği şey: Yeni bir trendin başlangıcında aktivasyonla birlikte tersine dönüş yapıları ve tersine dönüş seviyeler
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Georgios Kalomoiropoulos
Göstergeler
Quant Direction, 3 boyutlu bir piyasa analiz aracıdır. Çeşitli parametrelerdeki yüzdesel sapmaları hassas bir şekilde hesaplayan, tamamen objektif, algoritma tabanlı piyasa analizi sunar. Gelişmiş yapay zeka tabanlı modelleme araçları kullanılarak geliştirilen ve titizlikle test edilen bu algoritma, piyasayı benzersiz bir hassasiyetle analiz eder. Platformda herhangi bir döviz çiftini veya finansal enstrümanı analiz edebilirsiniz. İster kısa vadeli, ister günlük, isterse swing trading yapın, Qua
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Paul Geirnaerdt
4.54 (26)
Göstergeler
MonsterDash Harmonic Indicator is a harmonic pattern dashboard. It recognizes all major patterns. MonsterDash is a dashboard that displays all detected patterns for all symbols and (almost) all timeframes in sortable and scrollable format. Users can add their own user defined patterns . MonsterDash can open and update charts with the pattern found. Settings MonsterDash's default settings are good enough most of the time. Feel free to fine tune them to your needs. The color settings are for thos
Apollo SR Master
Oleg Rodin
5 (2)
Göstergeler
Apollo SR Master , Destek/Direnç bölgelerinde alım satımı daha kolay ve güvenilir hale getiren özelliklere sahip bir Destek/Direnç göstergesidir. Gösterge, yerel fiyat zirvelerini ve diplerini tespit ederek Destek/Direnç bölgelerini herhangi bir gecikme olmadan gerçek zamanlı olarak hesaplar. Ardından, yeni oluşan Destek/Direnç bölgesini doğrulamak için, Destek/Direnç bölgesinin dikkate alınabileceğini ve gerçek bir SAT veya AL sinyali olarak kullanılabileceğini gösteren özel bir sinyal gösterir
Advanced Currency Strength28 Indicator
Bernhard Schweigert
4.91 (657)
Göstergeler
ŞU ANDA %40INDIRIMLI Yeni Başlayanlar veya Uzman Tüccarlar için En İyi Çözüm! Bu Gösterge benzersiz, yüksek kaliteli ve uygun fiyatlı bir ticaret aracıdır çünkü bir dizi tescilli özellik ve yeni bir formül ekledik. Sadece BİR grafik ile 28 Forex çifti için Döviz Gücünü okuyabilirsiniz! Yeni bir trendin veya scalping fırsatının tam tetik noktasını belirleyebildiğiniz için ticaretinizin nasıl gelişeceğini hayal edin? Kullanım kılavuzu: buraya tıklayın Bu ilk olan, orijinal! Değersiz bir özent
Auto Optimized Parabolic RSI MT4
Davit Beridze
5 (1)
Göstergeler
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PZ 123 Pattern
PZ TRADING SLU
1 (1)
Göstergeler
Unlock powerful breakout opportunities The 123 Pattern is one of the most popular, powerful and flexible chart patterns. The pattern is made up of three price points: a bottom, a peak or valley, and a Fibonacci retracement between 38.2% and 71.8%. A pattern is considered valid when the price breaks beyond the last peak or valley, moment at which the indicator plots an arrow, rises an alert, and the trade can be placed. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products  ]
Market Makers
Mohamed Hassan
5 (4)
Göstergeler
After purchase, contact me privately to receive 1 month of free testing with EA Forex Proton! This advanced MT4 trading robot automatically executes signals from any MT4 indicator, including Market Makers. The latest version also includes AI integration, allowing each trade signal to be analyzed using Artificial Intelligence. Live Signal with EA Forex Proton: Click here Market Makers is a powerful price action trading system designed to identify high-probability Buy and Sell opportunities based
Yazarın diğer ürünleri
YY Multi Waves
Yuryi Yatsenko
4 (3)
Göstergeler
This indicator displays the wave structure of the market in the form several wave levels nested in each other. For each of these levels an automatic preliminary (draft) marking of waves in Elliott's style (123..., ABC... etc.) is created. This markup is completely automatic and absolutely univocal. The indicator is especially useful for beginner wave analysts, because among all the possible versions for wave marking, it allows you to immediately take the most adequate version as a ba
YY Multi Waves MT5
Yuryi Yatsenko
3.67 (3)
Göstergeler
This indicator displays the wave structure of the market in the form several wave levels nested in each other. For each of these levels an automatic preliminary (draft) marking of waves in Elliott's style (123..., ABC... etc.) is created. This markup is completely automatic and absolutely univocal. The indicator is especially useful for beginner wave analysts, because among all the possible versions for wave marking, it allows you to immediately take the most adequate version as a ba
YY PP Price Channel MT5
Yuryi Yatsenko
4.75 (4)
Göstergeler
The Point-Percent Price Channel (PPPC or PP Price Channel) indicator is designed to display on the chart a channel whose width is specified both as a percentage of the current price and in points. Its appearance is presented on slide 1.             When the market moves up, the upper border of the channel is built at the price of High candles. In this case, the lower boundary follows the upper one at a strictly specified distance. When the price touches the lower border of the channe
FREE
YY Mono Waves MT5
Yuryi Yatsenko
3 (1)
Göstergeler
The Mono Waves indicator is designed to display the wave behavior of the market on a chart. Its appearance is presented on slide 1.   This indicator uses the PPPC (Point-Percent Price Channel) indicator, which can be downloaded for free from the  Market .              When the market moves up, the upper border of the price channel is built on High candlestick prices (for more details, see the description of the PPPC indicator at the link given above). The higher the High prices rise
FREE
YY Mono Waves
Yuryi Yatsenko
Göstergeler
The Mono Waves indicator is designed to display the wave behavior of the market on a chart. Its appearance is presented on slide 1.   This indicator uses the PPPC (Point-Percent Price Channel) indicator, which can be downloaded for free from the Market .             When the market moves up, the upper border of the price channel is built on High candlestick prices (for more details, see the description of the PPPC indicator at the link given above). The higher the High prices rise, t
FREE
YY PP Price Channel
Yuryi Yatsenko
Göstergeler
The Point-Percent Price Channel (PPPC or PP Price Channel) indicator is designed to display on the chart a channel whose width is specified both as a percentage of the current price and in points. Its appearance is presented on slide 1.             When the market moves up, the upper border of the channel is built at the price of High candles. In this case, the lower boundary follows the upper one at a strictly specified distance. When the price touches the lower border of the channe
FREE
YY Renko Random Robot
Yuryi Yatsenko
Uzmanlar
This Expert Advisor belongs to the "almost Grail" category. What does this mean? This means that this EA makes it possible to trade profitably in almost any trading situation (with the exception of a very specific and rare situation, which will be considered separately below). The words "any trading situations" mean not only standard things (such as a trend or flat), but also any other patterns and/or figures, including the most unexpected and "arty-crafty", and which do not even hav
Filtrele:
Moamin Aljaro
58
Moamin Aljaro 2025.03.16 16:59 
 

It is very easy and user friendly

Dest T
33
Dest T 2024.02.27 12:30 
 

best Indicator I've seen on this platform it doesn't look like much but this indicator is very very useful especially in no indirection of the trend I would recommend this indicator to anyone out there looking to make money in the market very Useful in the chaos especially with my strategy I'll give this indicator a 10 out of 10 and would recommend it to anyone One of the most underrated indicator on this platform good job for the creator

sunhuanhuana
106
sunhuanhuana 2022.10.08 07:19 
 

nice

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