Sistema Renko 2
From the Old Kings archive: Sistema Renko 2, an indicator for MetaTrader 4. Judging by its name, it is built around Renko bricks. In the code it works with MACD, moving averages and Bollinger Bands. It draws arrows on the chart and can send alerts. It has 23 settings, for example SR (default 3), SRZZ (default 12) and Main RZZ (default 20). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 10 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 Sistema Renko 2
Sistema Renko 2 is an indicator for MetaTrader 4 based on MACD, Moving Average and Bollinger Bands. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 23 settings, such as SR, SRZZ and Main rzz. MQL source code included.
Files in the download: sistema renko\ArrZZx2.ex4, sistema renko\ArrZZx2.mq4, sistema renko\Bollinger Bicolor.ex4, sistema renko\Bollinger Bicolor.mq4, sistema renko\MACD color.ex4, sistema renko\MACD color.mq4, sistema renko\Renko_3_colores__1.ex4, sistema renko\Waddah_Attar_Explosion.ex4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| SR | 3 | =3..4 |
| SRZZ | 12 | =4..12..20 |
| Main rzz | 20 | =12..20..54... |
| FP | 21 | |
| SMF | 3 | =1..5 |
| Draw zz | false | |
| Price const | 0 | 0 - Close |
| Periode | 20 | Number of bars in the calculation |
| Decal band | 0 | |
| E type band | 2.0 | |
| Fast ema | 12 | |
| Slow ema | 26 | |
| Signal sma | 9 | |
| Sensetive | 150 | |
| Dead zone pip | 30 | |
| Explosion power | 15 | |
| Trend power | 15 | |
| Alert window | true | Turn this alert on or off |
| Alert count | 500 | Turn this alert on or off |
| Alert long | true | Turn this alert on or off |
| Alert short | true | Turn this alert on or off |
| Alert exit long | true | Turn this alert on or off |
| Alert exit short | true | Turn this alert on or off |
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 · MACD · Moving Average · Bollinger Bands · MT4 Indicator · MQL4 Source Code