Renko 3 2
From the Old Kings archive: Renko 3 2, an indicator for MetaTrader 4. As the name suggests, the idea behind it is Renko bricks. In the code it works with divergence checks, the Stochastic oscillator and ATR. It draws arrows on the chart, can send alerts and shows an on-chart panel. It has 40 settings, for example Renko Box Size (default 10), Renko Box Offset (default 0) and Renko Time Frame (default 2). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 18 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 Renko 3 2
Renko 3 2 is an indicator for MetaTrader 4 based on Divergence, Stochastic and ATR. It draws buy and sell arrows on the chart, can alert you with a pop-up, sound, email or push message and shows several symbols in one panel. It has 40 settings, such as Renko box size, Renko box offset and Renko time frame. MQL source code included.
Files in the download: Renko\FREE TRADING SYSTEMS AND INDICATORS.url, Renko\MQL4\Experts\renkolivecharts_pimped_v4_13.ex4, Renko\MQL4\Experts\renkolivecharts_pimped_v4_13.mq4, Renko\MQL4\Indicators\#4X 2010 Forex Power.ex4, Renko\MQL4\Indicators\#4X 2010 Forex Power.mq4, Renko\MQL4\Indicators\MBFX Timing.ex4, Renko\MQL4\Indicators\RenkoLiveChart_v600.6_indi.ex4, Renko\MQL4\Indicators\RenkoLiveChart_v600.6_indi.mq4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Renko box size | 10 | |
| Renko box offset | 0 | |
| Renko time frame | 2 | What time frame to use for the offline renko chart |
| Show wicks | true | |
| Emulate on line chart | true | |
| Build charts when market offline | true | |
| Note | == ATR Based Boxes == | |
| Calculate best box size | false | |
| Atr period | 24 | Period or timeframe used by the calculation |
| Atr time frame | 60 | Period or timeframe used by the calculation |
| Use atrma | true | |
| Ma method | 0 | |
| Ma period | 120 | Period or timeframe used by the calculation |
| X | 55 | |
| Y | 35 | |
| Corner | 1 | |
| Window | 1 | |
| Strange symbol name | false | |
| K period | 5 | Period or timeframe used by the calculation |
| D period | 3 | Period or timeframe used by the calculation |
| Slowing | 3 | |
| Zone high per | 65 | |
| Zone low per | 35 | |
| Play sound buy | true | Turn this alert on or off |
| Play sound sell | true | Turn this alert on or off |
| File sound buy | gong1 | Turn this alert on or off |
| File sound sell | gong1 | Turn this alert on or off |
| Levelcolor | Brown | Colour on the chart |
| Note1 | ===Trix level colors=== | |
| High line color | FireBrick | Colour on the chart |
| Zero line color | DimGray | Colour on the chart |
| Low line color | DarkGreen | Colour on the chart |
| Line style | 2 | |
| Note2 | ===Cobra Label colors=== | |
| Text1 color | C'0x77,0x77,0x00' | Colour on the chart |
| Text2 color | C'0x77,0x77,0x00' | Colour on the chart |
| Text3 color | Green | Colour on the chart |
| Shift up dn | 10 | Bar shift (0 = current bar) |
| Shift left right | 50 | Bar shift (0 = current bar) |
| Note3 | ===== Alert Settings ===== |
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 · Buy/Sell Arrows · Alerts · Divergence · Dashboards & Scanners · Stochastic · ATR · MT4 Indicator · MQL4 Source Code