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RenkoABCD

The indicator displays renko bars on a chart and uses them to create ZigZag indicator - trend lines connecting local price movement Highs and Lows. The indicator, in turn, is used to create AB=CD displaying potential price reversal points.

Renko is a non-trivial price display method. Instead of displaying each bar within a time interval, only the bars where the price moved a certain number of points are shown. Renko bars do not depend on a time interval, therefore the indicator works on any timeframe without losing its efficiency.

In this version, ZigZag is built based on the two parameters - zzDev (minimum deviation in percentage of the previous movement) and zzBack (minimum number of renko bars opposite to the previous movement).

AB=CD pattern is formed by ZigZag patterns according to the specified ratio. Sample extreme points naming is shown on the screenshot. Only the minimum ratios of BC/AB segments are set in the parameters. CD/BC ratio is considered equal to the inverse AB/BC one. CD proportions scatter (CD_scatter) has been added to the parameters to increase the number of recognized patterns. For example, if the calculated value is CD=1, while CD_scatter=0.2, the indicator operates with the data CD_min=0.8 and CD_max=1.2. The recognized pattern is displayed on the chart as two triangles and arrows of the appropriate direction and is accompanied by a pop-up window alert, email and push notifications. The indicator also generates EventChartCustom custom event for using signals for automating the trading process. The event generated by the indicator can be processed by the EA in the OnChartEvent function. The indicator passes the following parameters to the event handler: id - identifier; lparan - distance from D to C in points; dparam - A price; sparam - text message. Only the last formed bullish and bearish patterns are displayed.


Parameters

  • RenkoBar - renko bar size in points (automatically re-calculated for five-digit quotes);
  • CountBars - number of renko bars displayed on the chart;
  • bearColor - bearish renko bar color;
  • bullColor - bullish renko bar color;
  • hideBars - flag of hiding standard bars from the chart;
  • zzDev - deviation from the previous movement in percentage;
  • zzBack - deviation from the previous movement in the number of renko bars;
  • zzColor - ZigZag line color;
  • zzWidth - ZigZag line width;
  • BС_min, BС_max - BС/AB ratio settings;
  • CD_scatter - CD/BC ratio scatter;
  • patternBullColor - bullish pattern color;
  • patternBearColor - bearish pattern color;
  • signalBuyColor - buy arrow color;
  • signalSellColor - sell arrow color;
  • useAlert - enable pop-up notifications;
  • useMail - enable email notifications;
  • useNotification - enable push notifications;
  • CustomEventBuy - buy custom event indicator (0 - disabled);
  • CustomEventSell - sell custom event indicator (0 - disabled).
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4.91 (294)
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The Expert Advisor allows you to build a trading system based on a custom indicator. It performs automated opening/closing of deals based on the signals of an indicator that places values ​​other than 0 and EMPTY_VALUE in the buffer. The EA polls the values ​​of the specified indicator buffers, opens/closes and accompanies trades according to the specified parameters. The Expert Advisor implements the following trade support functions: - installation for the transaction SL and TP; - calculation
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The indicator displays ZigZag lines from a higher timeframe (see the example in the screenshot). The red thin line is the current timeframe's ZigZag, while a thicker yellow line is the higher timeframe's one. The indicator is repainted as the data is updated. Parameters Depth, Dev, Back - ZigZag parameters; BarsCount - amount of processed bars (reduces the initial download time and decreases the load when using in an EA); TimeFrame - indicator timeframe (cannot be lower than the current one).
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The indicator displays Renko bars on the chart, plots two moving averages by them and generates buy/sell signals based on the conditions displayed in the screenshots and described below: the buy signal is formed if the fast moving average is above the slow moving average, from 4 to 10 consecutive bullish Renko bars are displayed, followed by no more than 2 bearish and one bullish Renko bars; the sell signal is formed if the fast moving average is below the slow moving average, from 4 to 10 conse
The indicator displays renko bars on a chart, use them to plot MACD histogram and provides buy/sell signals: signal of MACD histogram crossing its signal line; signal of MACD histogram crossing the line 0. Renko is a non-trivial price display method. Instead of displaying each bar within a time interval, only the bars where the price moved a certain number of points are shown. Renko bars do not depend on a time interval, therefore the indicator works on any timeframe without losing its efficienc
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The indicator displays renko bars on a chart, uses them to plot the fast and slow moving average and Stochastic, as well as it provides buy/sell signals: a buy signal is generated when the fast moving is above the slow one, and the signal line of Stochastic crosses the lower level from bottom up; a sell signal is generated when the fast moving is below the slow one, and the signal line of Stochastic crosses the upper level from top to bottom; Renko is a non-trivial price display method. Instead
The indicator displays Renko bars on the chart, uses them to plot the ZigZag - trend lines connecting the local Lows and Highs of the price movement, and highlights them based on the Gartley patterns, showing the potential price reversal points. Renko - specialized display of the price action, in which the graph is displayed not every bar of the time frame, but only under the condition that the price had passed more than the specified number of points. Renko bars are not bound to a time frame, s
The indicator displays renko bars on a chart, uses them to plot the MACD oscillator and determines the divergence conditions (divergences of price movements and oscillator values). The buy/sell signal is formed if the next High/Low price is not confirmed by the oscillator values. The ZigZag indicator is used to evaluate the extremums. Only the last 3 peaks are taken into account (see the screenshot). If peak 1 is higher than peak 2 or peak 3, and at the same time the macd value is lower, then a
The indicator calculates and displays renko bars using MA and PSAR data as well as provides buy/sell signals. Renko is a non-trivial price display method. Instead of displaying each bar within a time interval, only the bars where the price moved a certain number of points are shown. Renko bars do not depend on a time interval, therefore the indicator works on any timeframe without losing its efficiency. Buy signal forms when PSAR readings are moving down, MA is moving up, the price is closing ab
The indicator displays Renko bars on the chart, uses their data to calculate and display the moving average, PriceChannel and generates buy/sell signals. Renko is a non-trivial price display method. Instead of displaying each bar within a time interval, only the bars where the price moved a certain number of points are shown. Renko bars do not depend on a time interval, therefore the indicator works on any timeframe without losing its efficiency. The PriceChannel indicator displays the upper, lo
The indicator displays Renko bars on the chart, uses their data to calculate and display the Bollinger Bands, MACD oscillator and generates buy/sell signals. Renko is a non-trivial price display method, in which a bar within a time interval is shown on the chart only if the price has moved a certain number of points. Renko bars do not depend on a time interval, therefore the indicator works on any timeframe without losing its efficiency. When attached to a chart, the indicator checks for presenc
The indicator displays Renko bars on the chart, plots a channel based on that data and generates buy/sell signals. Renko is a non-trivial price display method, in which a bar within a time interval is shown on the chart only if the price has moved a certain number of points. Renko bars do not depend on a time interval, therefore the indicator works on any timeframe without losing its efficiency. The channel is defined as the upper and lower boundaries of the price movement over the specified per
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Version 1.2 2021.11.18
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