Forex Renko Shade Indicator
From the Old Kings archive: Forex Renko Shade Indicator, an indicator for MetaTrader 4. As the name suggests, the idea behind it is Renko bricks. It has 10 settings, for example Renko Body Up (default DarkGreen), Renko Body Dn (default Maroon) and Renko Head (default PaleTurquoise). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 3 indicator files with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex Renko Shade Indicator
Forex Renko Shade Indicator is an indicator for MetaTrader 4. It has 10 settings, such as Renko body up, Renko body dn and Renko head. MQL source code included.
Files in the download: installation manual.txt, RenkoShade2.mq4, RenkoShade2_1.mq4, RenkoShade2_3.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Renko body up | DarkGreen | |
| Renko body dn | Maroon | |
| Renko head | PaleTurquoise | |
| Renko tail | Wheat | |
| Debug idx | 0 | |
| Renko box size | 5 | |
| Renko box offset | 0 | |
| Show wicks | true | |
| Bars count | 500 | |
| Draw helper lines | true |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Renko · MT4 Indicator · MQL4 Source Code