RENKO Reversal
- Utilitys
- Anton Polkovnikov
- Version: 1.0
RENKO Reversal by StockGamblers
Actually working RENKO in MT5. Uses "custom symbols" for drawing. You can apply any indicators with complete peace of mind. The movement of the last price is displayed in real during the formation of the "brick". Put the script in the MQL5/Experts folder. More precisely: C:\Users\user\AppData\Roaming\MetaQuotes\Terminal\terminal_number\MQL5\Experts
Settings:
- ValuePerBar - height of the "brick" in points
- revCandle - multiplier for the height of the turning "brick". I.e. if the first value is 10 points and the multiplier is 3, then the turning "brick" will be 30 points high.
Important!
Before using, make sure that the broker supplies "trading ticks" to the terminal. Go to "Symbols", select the instrument of interest and go to the "Ticks" tab. Next, select the type of ticks "Last/Volume" and press the "Request" button. As a result, you should get a list of trading ticks with the price and volume. If a broker does not supply such tick data, the script will not work. Before closing MT5 it is recommended to close the custom symbol tab with RENKO.
I really like the indicator, I want to buy the seconds charts, but I don't know if it will work on my chart, could you give me a demo test to try it and be able to buy it?