Tipu Renko Live - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
Renko charts were invented in Japan and introduced to the Western world by Steve Nison, known as the father of modern candlestick charts. 1 Renko chart ignores time and focuses only on price changes. Renko charts draw fixed-price Renko blocks at 45 degrees upward or downward, one brick per vertical line. Since vertical/horizontal axes cannot be fixed in MQL, Renko charts are created in offline charts via MQL4 programs (scripts/indicators/experts). By searching on the internet, you may find many such brick converter programs.
Tipu Renko Live is a modified version of the Renko chart that can be drawn on the normal real-time timeframe without using a converter. The indicator adds the following additional features.
1 Nissen, S. (1994). Beyond Candlesticks: New Japanese Charting Technique Revealed. New York: Wiley.
Attachment download
📎 tipu_renko.mq4 (19.59 KB)
Source: MQL5 #15563
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