The Renko graph index allows you to display Renko graphs in the indicator window. The “renko” graph kind reveals just cost movements larger than the specified one (box dimensions). It helps to eliminate noise and concentrate on the main tendencies.

When plotting the chart, time is not taken into consideration, just cost movements are utilized. For this purpose, Renko charts aren’t similar to price charts.

The indicator works in two modes:

• CLOSE – just Close costs are used when plotting the Renko chart;
• HIGH_LOW – just High/Low prices are used when plotting the Renko chart.

The threshold value of the movement (box size) can be specified in 2 ways:

• PIPS – in pips (absolute values);
• ATR-in the values of the ATR indicator (the current ATR value will be different each time the indicator is reinitialized or loaded).