Renko Advanced

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( 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!

How to set the brick height? It is a good questions, it depends of the duration we want to stay in the market, the volatilty of the market. A good choice could be using the ATR indicator to check the average value of candles in the TF we want to operate.

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

Alert on new bar: an alert is shown when there is a new bar

Alert on Avg cross: an alert is shown when there is a cross between averages

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

Sync graph with midnight: Renko is not dependent by the time, so if you close the metatrader and open it again in few hours, the graph could be a little different by today. 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.

enum Typek
  {
   1,2
  };
//+------------------------------------------------------------------+
//|                                                                  |
//+------------------------------------------------------------------+
enum Average
  {
   Simple=1,Exponential=2
  };

//+------------------------------------------------------------------+
//|                                                                  |
//+------------------------------------------------------------------+

//Example of Call 

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,"Just a comment");