Renko Range Detector - MetaTrader 4 Script | Forex Indicators Download - MT4/MT5 Resources
Indicator: Brick Distance Detector
Notes: This indicator is designed to be used with Renko charts/candles, not standard bars/candles.
Renko chart range size calculation: opening price - closing price for down bars. Close - Opens the upward bar.
GBP/USD, M11 (offline): 1.41975 - 1.41900 = 75 pips = 7.5 pips.
Attachment download
📎 renko_range_detector.mq4 (2.75 KB)
Source: MQL5 #11070
Renko Range Detector - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Renko Range Detector - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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