This is a demo version of the Expert Advisor for creating custom Renko charts with real-time updates. This is the equivalent of” offline ” MT4 charts, which is very easy to use.
You can install any indicator or template for MT5 on the renko chart and perform technical analysis.
In this demo version, the size of the renko bars is fixed and is 200 points with shadows, the initial shift is 0, and the calculation of the size of the bars based on ATR is disabled.
The daily sync feature is disabled, and the demo version only shows the last 21 days of the history.
The full version can be purchased at the following link: https://www.mql5.com/ru/market/product/29005
- Bars size (in points) – the size of the candle body in points.
- Retracement factor (0.01 to 1.00) – offset of the opening level of the new candle relative to the closing level of the previous candle (0.01 = 1%, 1.00 = 100%).
- Asymmetric reversals (yes/no) – the type of reversals relative to the closing level of the previous candle.
- Show wicks (yes/no) – the shadows of the candles.
- ATR based bar size calculation (yes/no) – automatic calculation of the candle body size based on the values of the ATR indicator on the daily chart.
- ATR period (1 to…) – the period of the ATR indicator.
- Use percentage of daily ATR (1 to 100) – the percentage value used.
- Show history for number of days (0 to…) – the number of days in the history to display.
- Apply offset to first Renko (yes/no) – a parameter to synchronize the opening level of the first Renko candle based on the offset parameter below.
- Offset value (0 to 100) – offset.
- Synchronize first bar’s open on a new day ( yes/no) – synchronize the opening level of the first candle at the opening level of the daily candle.
- Override default custom chart name with (chart name) – override the default chart name and set a custom value
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Below are the settings for creating several commonly used chart types:
- Median renko values
- Retracement factor = 0.5
- Asymmetrical reversals = yes
- Show wicks = yes
- Classic renko with shadows
- Retracement factor = 1.0
- Asymmetrical reversals = yes
- Show wicks = yes
- Turbo Renko
- Retracement factor = 0.25
- Asymmetrical reversals = yes
- Show wicks = yes
- Hybrid renko
- Retracement factor = 0.25
- Asymmetrical reversals = no
- Show wicks = yes
- Point-O
- Retracement factor = 1.0
- Asymmetrical reversals = no
- Show wicks = yes
- Retracement factor = 0.5
- Asymmetrical reversals = yes
- Show wicks = yes
- Retracement factor = 1.0
- Asymmetrical reversals = yes
- Show wicks = yes
- Retracement factor = 0.25
- Asymmetrical reversals = yes
- Show wicks = yes
- Retracement factor = 0.25
- Asymmetrical reversals = no
- Show wicks = yes
- Retracement factor = 1.0
- Asymmetrical reversals = no
- Show wicks = yes
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