Indicators: Renko Level

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Renko Level:

The indicator displays the Renko bars on the MetaTrader 5 chart.

Renko level

Author: Vladimir Karputov

Renko Level
Renko Level
  • www.mql5.com
The indicator displays the Renko bars on the MetaTrader 5 chart. The calculation of the nearest border is as follows: For the current price three price levels are calculated: In this case, the distance between "price_ceil" and "price_round" and the distance between "price_round" and...
 

that last image you show looks like support/resistance, settings pls. this is for mt5?

thx

Tom 

 
crazydad:

that last image you show looks like support/resistance, settings pls. this is for mt5?

thx

Tom 


On the image:

Renko level Chart in foreground.png

Lines correspond to the levels:

  • price_ceil
  • price_round
  • price_floor
 
Very interesting!
 

HI,


do you have the mql4 version of this indicator? appreciate greatly.

 
Lim Ling :

HI,


do you have the mql4 version of this indicator? appreciate greatly.


No. mql4 is the old terminal. Five years ago I stopped supporting the old terminal.

 
Hello, Is there a way to modify the code simply so that for a bullish Renko candle the Current price is the same as the price_ceil? In this case the price_ceil - price_floor would be the length of the Renko candle.
 
dclark24 :
Hello, Is there a way to modify the code simply so that for a bullish Renko candle the Current price is the same as the price_ceil? In this case the price_ceil - price_floor would be the length of the Renko candle.

I do not understand what exactly is needed. The code does just that.

 

Hello Vladimir,

Can you update the Renko Level Indicator to use DRAW_FILLING instead of DRAW_COLOR_HISTOGRAM2 as it would look much better, histogram makes it hard to see.

https://www.mql5.com/en/docs/customind/indicators_examples/draw_filling

Documentation on MQL5: Custom Indicators / Indicator Styles in Examples / DRAW_FILLING
Documentation on MQL5: Custom Indicators / Indicator Styles in Examples / DRAW_FILLING
  • www.mql5.com
The DRAW_FILLING style plots a colored area between the values of two indicator buffers. In fact, this style draws two lines and fills the space between them with one of two specified colors. It is used for creating indicators that draw channels. None of the buffers can contain only empty values, since in this case nothing is plotted. The fill...
 
c0mrade :

Hello Vladimir,

Can you update the Renko Level Indicator to use DRAW_FILLING instead of DRAW_COLOR_HISTOGRAM2 as it would look much better, histogram makes it hard to see.

https://www.mql5.com/en/docs/customind/indicators_examples/draw_filling

Here is the new version ( DRAW_FILLING drawing style applied ) - Renko Level Fills

 

Hi your Renko chart is supposed to plot based on the close price, But it doesn't seem to behave like that. You have done something similar to trading view charts but the charts aren't plotting the same data. The Renko candles should only be printed if the close of the candle is confirmed below the Renko close level. 

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