Renko indicator for MetaTrader 4 description
The first indicator draws lines on the Renko chart in the form of levels and waves. Shows the switching signals Renko.
The second indicator draws Renko charts directly in a separate window. Uses data from the first indicator. Thus compiled should be both indicators. They can be used separately.
The indicators are input parameter Step – size “brick” in paragraphs. By default, 250. Indicator is automatically linked and built on the “round” levels. Levels are rounded size “brick.”
For beauty, choose an option Step so that it fit into the fold shape: 50, 100, 125, 200, 250, 500 – is a good choice. For other values also will work.
The second indicator is drawn on the visible section of the chart. If you disable auto scrolling and moving dates – you can compare the price chart data and graphics Renko.
You can draw Renko with tails and without tails. Given input parameter.
Revers parameter specifies how many bricks price should go back to display the reverse brick. For classical Renko Revers = 2. Now you can experiment with this setting to give various modifications Renko.
Renko indicator for MetaTrader 4 download