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I want offline renko chart based on pips AND time. TradingView has renko charts like this and is much cleaner.
Example....
If set to 5m chart and 5 pip renko that means every 5 mins is calculated how many 5 pip candles have moved. So that means lets say price move up 10 pips (2 candles of 5 pips) in first 2 mins of 5m candle but in remaining 3 mins price move back down the 10 pips...that means in the end of 5m candle there would be no renko bars calculated since price essentially not move in those 5 mins.
Another example....
If set to 5m chart and 5 pip renko and price 15 pips up ( 3 renko candle of 5 pip) but before 5m candle close is move down 10 pips....only supposed be 1 bullish renko candles painted of 5 pips ( not 2 candle up and 1 down).
Simply put the offline chart may "repaint" since we wait until end of desired timeframe candle to close before final renko candles are drawn. Easy thing to do is look at TradingView renko charts to get best idea of how this works.
Any questions I can answer the idea is very simple and can be edit to any number of offline renko chart indicators already free on market for mt4. If need one I can send the offline renko indicator I have to make the changes to it.
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