Smart Renko MT4

Introduction to Smart Renko

The main characteristics of Renko Charting concern price movement. To give you some idea on its working principle, Renko chart is constructed by placing a brick over or below when the price make the movement beyond a predefined range, called brick height. Therefore, naturally one can see clear price movement with less noise than other charting type. Renko charting can provide much clearer trend direction and it helps to identify important support and resistance level more clearly. As Renko charting does not use time, original Renko charting have some difficulties to be used together with other technical indicators. Especially backtesting of your strategy using typical Renko charting is very difficult and time consuming. However, we brought Smart Renko Chart here. Smart Renko overcomes the limitation of traditional Renko charting and it brings you many other benefits for your efficient trading.

Main Features of Smart Renko

  • You can use any timeframe to calculate your Renko bricks including M1 and M5.
  • Smart Renko will show you generally agreeable trend movement towards all timeframe.
  • You can display spread view of Renko bricks on your main chart allowing you to backtest with other technical indicators.
  • You can cross reference between the Renko bricks on your main chart and Renko bricks on your indicator chart. (Simply just double click on your main chart or indicator chart. You will see reference lines on both charts.)
  • Smart Renko includes automatic brick height calculation using Standard Deviation and Z value. Therefore even a starter can use this Smart Renko Indicator.
  • Smart Renko will indicate the future brick level for buy and sell bricks in advance.

Some Note on Smart Renko

  • Smart Renko must be used together with other indicator. You can use it with many built-in technical indicators successfully, such as MACD, RSI or Stoch, Moving Average to construct your trading strategy.
  • Line chart is preferred with Smart Renko. Therefore, in default setting, Smart Renko uses line chart. However, you can always switch off the line chart and use candlestick chart.
  • Renko chart should be calculated using M1 data. You can choose M1 timeframe for its calculation with Smart Renko. However, most brokers have short historical data for M1 timeframe. Therefore, default timeframe for calculation is M5 timeframe.
  • It is possible to draw bricks on entire historical data. This may slow down your trading terminal.
  • For Brick Height Mode = 1, Smart Renko will use Standard deviation to calculate brick height automatically. Use the common Z value sensibly such as 1.0, 1.68, 1.96, etc. for profitable trading.
  • For Brick Height Mode = 0, you can input any brick height in pips. Smart Renko will use your input to construct the Renko Chart.
  • Hit R key on your keyboard When Smart Renko does not load automatically at start up. This happens due to initial data loading on sub-timeframe (M1, M5, etc.) of current timeframe.
  • Smart Renko uses sub-timeframe (M1 or M5) for brick calculation and it displays bricks on the current timeframe. Do not use weekly or monthly chart. M1 or M5 timeframe mostly does not have sufficient data to draw Renko brick on weekly and monthly chart.

Trading Strategy Guide

You can use Smart Renko together with any of following technical analysis.

Guide for Volume Spread Analysis

Guide for Harmonic Pattern Detection Indicator

Guide for Momentum Indicator

Guide for Supply Demand Indicator

Guide for Triangle Pattern, Falling Wedge Pattern, Rising Wedge Pattern and Channel

Guide for Elliott Wave Indicator

Important Note

This is the off the shelf product. Therefore, we do not accept any modification or customization request on this product. In addition, we do not provide any code library or any support for your coding for this product.

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System Trend Pro - This is the best trend trading indicator!!! The indicator no repaint!!!  The indicator has   MTF   mode, which adds confidence to trading on the trend (   no repaint   ). How to trade? Everything is very simple, we wait for the first signal (big arrow), then wait for the second signal (small arrow) and enter the market in the direction of the arrow. (See screens 1 and 2.) Exit on the opposite signal or take 20-30 pips, close half of it, and keep the rest until the opposite
Trend Arrow Super
Aleksandr Makarov
5 (2)
Trend Arrow Super The indicator not repaint or change its data. A professional, yet very easy to use Forex system. The indicator gives accurate BUY\SELL signals. Trend Arrow Super is very easy to use, you just need to attach it to the chart and follow simple trading recommendations. Buy signal: Arrow + Histogram in green color, enter immediately on the market to buy. Sell signal: Arrow + Histogram of red color, enter immediately on the market to sell.
ŞU ANDA %26 INDIRIMLI 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 özen
Meravith
Ivan Stefanov
5 (1)
Gösterge, her noktadan hacmi analiz eder ve bu hacim için piyasa tükenme seviyelerini hesaplar. Üç çizgiden oluşur: Boğa hacmi tükenme çizgisi Ayı hacmi tükenme çizgisi Piyasa trendini gösteren bir çizgi. Bu çizgi, piyasanın boğa mı yoksa ayı mı olduğunu yansıtacak şekilde rengini değiştirir. Piyasayı istediğiniz herhangi bir başlangıç noktasından analiz edebilirsiniz. Bir hacim tükenme çizgisine ulaşıldığında, bir sonraki analize başlamak için yeni bir nokta belirleyin. Herhangi bir şeyi analiz
Volatility Master for MetaTrader is a real-time dashboard tool that scans up to 56 symbols using up to 2 flexible dashboards on different charts to identify high-volatility, trending markets instantly. With clear bullish/bearish signals, customizable alerts, and a user-friendly interface, it helps you avoid range-bound conditions and focus on high-probability trades. Clarity leads to confidence. Trade confidently and protect your capital effectively with this powerful dashboard. Setup & Guide: 
Önceden gösterge   Piyasa dönüş seviyelerini ve bölgelerini belirler , fiyatın seviyeye geri dönmesini beklemenize ve yeni bir trendin başlangıcında, sonunda değil, işleme girmenize olanak tanır. Gösteriyor   tersine çevirme seviyeleri       Piyasanın yön değişikliğini teyit ettiği ve daha fazla hareket oluşturduğu yer. Bu gösterge yeniden çizim gerektirmeden çalışır, her türlü enstrüman için optimize edilmiştir ve en yüksek potansiyelini bir enstrümanla birlikte kullanıldığında ortaya koyar.
Advanced Supply Demand
Bernhard Schweigert
4.91 (296)
New Year Trading Special – 50% OFF 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 TF but to show both, the chart TF, PLUS the higher TF: SHOWING NESTED ZONES. All Supply Demand traders will love it. :) Important Information Revealed Maximiz
Currency Strength Matrix
Raymond Gilmour
4.5 (26)
THE ONLY CURRENCY STRENGTH INDICATOR THAT IS BASED ON PRICE ACTION. DESIGNED FOR TREND, MOMENTUM & REVERSAL TRADERS This indicator  reads price action to confirm trend and strength . Advanced multi-currency and multi-time frame indicator that shows you simply by looking at one chart, every currency pair that is trending and the strongest and weakest currencies driving those trends. For full details on how to use this indicator, and also how to get a FREE chart tool, please see user manual HERE
The price is indicated only for the first   30 copies  ( only    2  copies left ).                                             The next price will be increased to    $150 . The final price will be    $250. Sniper Delta Imbalance is a professional tool for deep delta analysis — the difference between buyer and seller volumes. It takes volume analysis to the next level, allowing traders to see in real time who controls the price — buyers or sellers
Keltner Channel Indicator Keltner Channel is an oscillator like Bollinger Bands. Keltner Channel is a very good tool to time entries for your strategy. Keltner Channel displays a channel where price is supposed to stay unless we are in overbought or oversold situations. Various strategies use Keltner Channel indicator successfully to spot overbought / oversold situations and look for reversals. Keltner Channel indicator uses ATR to determine overbought and oversold situations. Inputs of the indi
Supply and Demand Dashboard PRO
Bernhard Schweigert
4.8 (20)
Şu anda %20 İNDİRİMLİ! Bu gösterge paneli, birden fazla sembol ve 9 zaman dilimine kadar çalışan çok güçlü bir yazılım parçasıdır. Ana göstergemize dayanmaktadır (En iyi yorumlar: Advanced Supply Demand ).     Gösterge paneli harika bir genel bakış sağlar. Gösterir:    Bölge mukavemet derecesi dahil filtrelenmiş Arz ve Talep değerleri, Bölgelere/ve bölgeler içindeki pip mesafeleri, İç içe geçmiş bölgeleri vurgular, Tüm (9) zaman dilimlerinde seçilen semboller için 4 çeşit uyarı verir. Kişisel
Shogun Trade
Yuki Miyake
5 (2)
SHOGUN Trade - The Shocking Truth of 16 Years Unoptimized. Strategic Market Structure & The Art of Maximizing Gains. The Truth of "16 Years" That Even Stunned the Developer First, please take a look at the attached image (backtest results). This is the verification result for USDJPY H1 for a full 16 years, from January 1, 2010, to January 1, 2026. To be clear: This is NOT an EA (Expert Advisor) for sale. It is a manual trading indicator system. However, I dare to present this graph to you and
Elliot Wave Impulse
Mohamed Hassan
4.33 (6)
Huge 70% Halloween Sale for 24 hours only!  Manual guide:   Click here This indicator is unstoppable when combined with our other indicator called Katana . After purchase, send us a message and you could get  it  for  FREE as a BONUS!  The Elliot Wave Impulse is a pattern  identified in the Elliott Wave Theory, a form of technical analysis used to analyze financial market cycles.  The Impulse Wave is considered the strongest and most powerful part of the Elliott Wave cycle, as it represents t
Break and Retest
Mohamed Hassan
4.24 (21)
This Indicator only places quality trades when the market is really in your favor with a clear break and retest. Patience is key with this price action strategy! If you want more alert signals per day, you increase the number next to the parameter called: Support & Resistance Sensitivity.  After many months of hard work and dedication, we are extremely proud to present you our  Break and Retest price action indicator created from scratch. One of the most complex indicators that we made with over
BEHOLD!!! One of the best Breakout Indicator of all time is here. Multi Breakout Pattern looks at the preceding candles and timeframes to help you recognize the breakouts in real time. The In-built function of supply and demand can help you evaluate your take profits and Stop losses SEE THE SCREENSHOTS TO WITNESS SOME OF THE BEST BREAKOUTS INPUTS MaxBarsback:   The max bars to look back Slow length 1:   Period lookback  Slow length 2:  Period lookback Slow length 3:   Period lookback Slow
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Elliott Wave Trend was designed for the scientific wave counting. This tool focuses to get rid of the vagueness of the classic Elliott Wave Counting using the guideline from the template and pattern approach. In doing so, firstly Elliott Wave Trend offers the template for your wave counting. Secondly, it offers Wave Structural Score to assist to identify accurate wave formation. It offers both impulse wave Structural Score and corrective wave Structure Score. Structural Score is the rating to sh
Mean Reversion Supply Demand Indicator Mean Reversion Supply Demand is the indicator to detect the important supply demand zone in your chart. The concept of supply demand trading relies on the quantity mismatching between buying and selling volumes in the financial market. Typically, supply demand zone serves to predict the turning point. The wave pattern, for any supply demand zone to work as an successful trade, looks like the price must touch the base zone, move away and then return to zone
Introduction to Double Harmonic Volatility Indicator Use of the Fibonacci analysis for financial trading can nearly go back to 85 years from today since the birth of Elliott Wave Theory by R. N. Elliott. Until now, traders use the Fibonacci analysis to identify the patterns in the price series. Yet, we could not find any one attempted to use Fibonacci analysis for the Volatility. Harmonic Volatility Indicator was the first technical analysis applying the Fibonacci analysis to the financial Volat
Elliott Wave Trend was designed for the scientific wave counting. This tool focuses to get rid of the vagueness of the classic Elliott Wave Counting using the guideline from the template and pattern approach. In doing so, firstly Elliott Wave Trend offers the template for your wave counting. Secondly, it offers Wave Structural Score to assist to identify accurate wave formation. It offers both impulse wave Structural Score and corrective wave Structure Score. Structural Score is the rating to sh
Peak Trough Analysis is the great tool to detect peaks and troughs in your chart. Peak Trough Analysis tool can use three different peaks and troughs detection algorithm. The three algorithm include the orignal Fractals Indicator by Bill Williams, the Modified Fractals indicator and ZigZag indicator. You can use this peak and trough analysis tool to detect the price pattern made up from Equilibrium Fractal-Wave process. For further usage, there are good guide line on how to use this peak trough
FREE
Introduction to Fractal Pattern Scanner Fractal Indicator refers to the technical indicator that makes use of the fractal geometry found in the financial market. Fractal Pattern Scanner is the advanced Fractal Indicator that brings the latest trading technology after the extensive research and development work in the fractal geometry in the financial market. The most important feature in Fractal Pattern Scanner is the ability to measure the turning point probability as well as the trend probabi
Introduction to Fractal Pattern Scanner Fractal Indicator refers to the technical indicator that makes use of the fractal geometry found in the financial market. Fractal Pattern Scanner is the advanced Fractal Indicator that brings the latest trading technology after the extensive research and development work in the fractal geometry in the financial market. The most important feature in Fractal Pattern Scanner is the ability to measure the turning point probability as well as the trend probabil
Introduction This indicator detects volume spread patterns for buy and sell opportunity. The patterns include demand and supply patterns. You might use each pattern for trading. However, these patterns are best used to detect the demand zone (=accumulation area) and supply zone (=distribution area). Demand pattern indicates generally potential buying opportunity. Supply pattern indicates generally potential selling opportunity. These are the underlying patterns rather than direct price action. T
FREE
Introduction Auto Chart Alert is a convenient tool to set alert for your trading in your chart. With Auto Chart Alert, you can set the alert line in one click in your desired location in your chart. You can even set alert over the sloped lines in your chart. Auto Chart Alert is a great tool when you have to watch out importnat support and resistance levels for your trading. You can receive the sound alert, email and push notification when the price hit the alert line at you desired location. Au
FREE
Introduction to Fibonacci Volatility Indicator Volatility indicator can help you to detect any statistical advantage for your trading. Especially, if you are trading with Price Action and Price Patterns, then we recommend to use the Volatility indicator together with your strategy. Especically, Fibonacci Volatility indicator combines the market volatiltiy with Fibonacci Analysis to provide you more advanced volatiltiy indicator. Main Features Fibonacci Volatility in Z score Configuration Mode Fi
Introduction to Fractal Moving Average Fractal Moving Average indicator was designed as part of Fractal Pattern Scanner. Inside Fractal Pattern Scanner, Fractal Moving Average Indicator was implemented as multiple of chart objects. With over thousands of chart object, we find that it was not the best and efficient ways to operate the indicator. It was computationally too heavy for the indicator. Hence, we decide to implement the indicator version of Fractal Moving Average indicator to benefit ou
FREE
Introduction To Time Box Indicator Time Box Indicator is a must have indicator for any trader. It will display daily, weekly and Monthly box according to your preferences. Yet, you can extend any important price levels in your chart automatically. You can use them as the significant support and resistance levels. It is very simple but effective tool for your trading. Graphic Setting Use White Chart Line Style for Current Open price Daily Setting Update Timeframe for daily box Number of days to
FREE
Introduction This indicator detects volume spread patterns for buy and sell opportunity. The patterns include demand and supply patterns. You might use each pattern for trading. However, these patterns are best used to detect the demand zone (=accumulation area) and supply zone (=distribution area). Demand pattern indicates generally potential buying opportunity. Supply pattern indicates generally potential selling opportunity. These are the underlying patterns rather than direct price action. T
Peak Trough Analysis is the great tool to detect peaks and troughs in your chart. Peak Trough Analysis tool can use three different peaks and troughs detection algorithm. The three algorithm include the orignal Fractals Indicator by Bill Williams, the Modified Fractals indicator and ZigZag indicator. You can use this peak and trough analysis tool to detect the price pattern made up from Equilibrium Fractal-Wave process. For further usage, there are good guide line on how to use this peak trough
FREE
Introduction to X3 Chart Pattern Scanner X3 Cherart Pattern Scanner is the non-repainting and non-lagging indicator detecting X3 chart patterns including Harmonic pattern, Elliott Wave pattern, X3 patterns, and Japanese Candlestick patterns. Historical patterns match with signal patterns. Hence, you can readily develop the solid trading strategy in your chart. More importantly, this superb pattern scanner can detect the optimal pattern of its kind. In addition, you can switch on and off individu
Introduction To Time Box Indicator Time Box Indicator is a must have indicator for any trader. It will display daily, weekly and Monthly box according to your preferences. Yet, you can extend any important price levels in your chart automatically. You can use them as the significant support and resistance levels. It is very simple but effective tool for your trading. Graphic Setting Use White Chart Line Style for Current Open price Daily Setting Update Timeframe for daily box Number of days to
FREE
Introduction This indicator detects volume spread patterns for buy and sell opportunity. The patterns include demand and supply patterns. You might use each pattern for trading. However, these patterns are best used to detect the demand zone (=accumulation area) and supply zone (=distribution area). Demand pattern indicates generally potential buying opportunity. Supply pattern indicates generally potential selling opportunity. These are the underlying patterns rather than direct price action. T
FREE
How to use Pair Trading Station Pair Trading Station is recommended for H1 time frame and you can use it for any currency pairs. To generate buy and sell signal, follow few steps below to apply Pair Trading Station to your MetaTrader terminal. When you load Pair Trading Station on your chart, Pair Trading station will assess available historical data in your MetaTrader platforms for each currency pair. On your chart, the amount of historical data available will be displayed for each currency pai
Introduction to Harmonic Pattern Scenario Planner The present state of Forex market can go through many different possible price paths to reach its future destination. Future is dynamic. Therefore, planning your trade with possible future scenario is an important step for your success. To meet such a powerful concept, we introduce the Harmonic Pattern Scenario Planner, the first predictive Harmonic Pattern Tool in the world among its kind. Main Features Predicting future patterns for scenario
Introduction Auto Chart Alert is a convenient tool to set alert for your trading in your chart. With Auto Chart Alert, you can set the alert line in one click in your desired location in your chart. You can even set alert over the sloped lines in your chart. Auto Chart Alert is a great tool when you have to watch out importnat support and resistance levels for your trading. You can receive the sound alert, email and push notification when the price hit the alert line at you desired location. Au
FREE
Introduction to GARCH Indicator GARCH is the short initial for Generalized Autoregressive Conditional Heteroskedasticity and it is the volatility prediction model commonly used in financial industry. GARCH model was first appeared in the work by Danish Economist, Tim Peter Bollerslev in 1986. The 2003 Nobel Prize winner, Robert F Engle also added much contribution for the refinement of GARCH model with Tim’s work. Our GARCH INM predictor took the original method of Nelder Mead for GARCH model bu
FREE
Introduction Harmonic Patterns are best used to predict potential turning point. Traditionally, Harmonic Pattern was identified manually connecting peaks and troughs points in the chart. Manual harmonic pattern detection is painfully tedious and not suitable for everyone. You are often exposed under subjective pattern identification with manual pattern detection. To avoid these limitations, Harmonic Pattern Plus was designed to automate your harmonic pattern detection process. The functionality
Introduction Excessive Momentum Indicator is the momentum 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
Introduction to Order Risk Management EA ORM EA is specially designed for fast and accurate market order execution to be used with our Price Action and Econometric Trading strategies listed below. ORM EA is fully automatic and ORM EA is also very easy to use. ORM EA is totally free of charge. You can also use this robust order execution feature of this ORM EA for any other your own trading strategy. Trading Strategy Guide Order Risk Management EA provides the guide for the risk management for y
FREE
Introduction to Fractal Moving Average Fractal Moving Average indicator was designed as part of Fractal Pattern Scanner. Inside Fractal Pattern Scanner, Fractal Moving Average Indicator was implemented as multiple of chart objects. With over thousands of chart object, we find that it was not the best and efficient ways to operate the indicator. It was computationally too heavy for the indicator. Hence, we decide to implement the indicator version of Fractal Moving Average indicator to benefit o
FREE
Introduction to GARCH Indicator GARCH is the short initial for Generalized Autoregressive Conditional Heteroskedasticity and it is the volatility prediction model commonly used in financial industry. GARCH model was first appeared in the work by Danish Economist, Tim Peter Bollerslev in 1986. The 2003 Nobel Prize winner, Robert F Engle also added much contribution for the refinement of GARCH model with Tim’s work. Our GARCH INM predictor took the original method of Nelder Mead for GARCH model bu
FREE
Introduction to Order Risk Management EA ORM EA is specially designed for fast and accurate market order execution to be used with our Price Action and Econometric Trading strategies listed below. ORM EA is fully automatic and ORM EA is also very easy to use. ORM EA is totally free of charge. You can also use this robust order execution feature of this ORM EA for any other your own trading strategy. Trading Strategy Guide Order Risk Management EA provides the guide for the risk management for y
FREE
Price Breakout pattern Scanner is the automatic scanner for traders and investors. It can detect following patterns automatically from your chart. Head and Shoulder - Common tradable pattern. Reverse Head and Shoulder - This pattern is the reverse formation of the Head and Shoulder. Double Top - When the price hits resistance level twice and decline toward the support level, the trader can anticipate sudden bearish breakout through the support level. Double Bottom - The double bottom pattern is
Introduction to Sideways Market Analyzer Notable period of Low volatility and non-trending movements in the financial market is considered as Sideways Market. Sooner or later, the low volatility will increase and the price will pick up a trend after Sideways Market. In terms of trading point of view, Sideways Market can serve as the very good entry timing for traders. Sideways Market is also quite often the representation of accumulation of large orders from big investors. Therefore, knowing the
Introduction to Harmonic Pattern Scenario Planner The present state of Forex market can go through many different possible price paths to reach its future destination. Future is dynamic. Therefore, planning your trade with possible future scenario is an important step for your success. To meet such a powerful concept, we introduce the Harmonic Pattern Scenario Planner, the first predictive Harmonic Pattern Tool in the world among its kind. Main Features Predicting future patterns for scenario
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