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Renko Euro

FREE

Published: 27 March 2024

Current version: 1.2

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Renko Euro

GLX1 Renko Euro Expert Advisor (EA) can create the Renko bar charts on EURUSD or EURAUD symbols only. The Renko charts are generated as real-time custom EURUSD or EURAUD charts which can be further used for technical analysis with any MT5 compatible indicator.

If you want to create Renko charts on any symbol, please use GLX1 Renko Builder Expert Advisor from here. https://www.mql5.com/en/market/product/115077

Included Features:

Truly responsive Renko Charting on a custom EURUSD or EURAUD chart
Accurate automatic live chart update
Ability to attach any MT5 indicator
Ability to enable/disable Renko bar wicks
Ability setup Renko bar size using the ATR percentage or Fixed size

Input Parameters:

Renko Mode : ATR_BASED_SIZE or FIXED_SIZE mode used to calculate bar size
History days count: Number of back days to generate Renko bars
Enable Renko Wicks : To enable/disable Renko bar wicks
ATR Time frame : Time frame used to calculate the Average True Range(ATR) indicator value
ATR Period : Length of the Average True Range (ATR) indicator
ATR Percentage : Percentage of the Average True Range (ATR) value used to calculate the Renko bar size
Fixed Size : Renko bar size if the Renko Mode is FIXED_SIZE

How to Use:

Open EURUSD or EURAUD symbol chart on MT5 platform and change the time frame to M1
Add the GLX1 Renko Euro Expert Advisor (EA) to that chart
Change the input parameters as you need.
After submission, It will open a new custom chart with Renko bars.

Pro Tips:

The generated Renko chart is a custom chart which means the symbol is not compatible with the list of symbols available in the Broker's server. You can resolve this situation by supplying the original symbol when placing trades on the generated Renko chart. If you need to perform automated trading using a Expert Advisor (EA) on the generated Renko chart, make sure to supply the correct symbol in MQL5 EA code.

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