Renko Chart from ticks (Most precise method) - expert for MetaTrader 4

Renko Chart from ticks (Most precise method) - expert for MetaTrader 4

This EA converts a chart to Renko Chart using the tick values. In fact, it does not perform any auto-trading, it just perform a conversion. Unlike the conventional approach, this EA generates the renko blocks from every tick, which could be the most precise method (IMO). In the conventional approach, only the high/low values are used for conversion. But the actual market condition has a significant amount of change in the total pips traveled. It doesnt update on a live chart. Im trying to make it on my next revision. Ive also developed a renko indicator (time-dependent), which can be used on a regular chart along with other indicators. Should any of you require it, please let me know so that Ill upload it.

How to use: Like any other EA, open it in the strategy tester, choose the symbolname and a small timeframe (M1 or M5). If you would need to convert within a time-period (eg: 2010-01-01 ~ 2016-01-31), choose those dates and "start". An ".hst" file will be generated in your MetaTrader 4 folder under "TesterFiles" subdirectory. Copy this file to your MetaTrader 4 history folder. You may open this file from the menu: "File -> Open offline". The name of the generated file will normally be of the format "symbolname2.hst" (for example, "USDJPY2.hst"). Please remember that, since it currently generates blocks only through the strategy tester, it uses the simulated ticks that are supplied by the MetaTrader 4 historical data. The values will become "real" only when we use it on MetaTrader 5 or the live data, which is not yet ready.

Renko Indicator AUDUSD

Download Renko Chart from ticks (Most precise method) - expert for MetaTrader 4

Related News

Latest News
Factbox: Timeline of the Russia doping case
07.12.2019 14:06
LAUSANNE, Switzerland (Reuters) - The World Anti-Doping Agency (WADA) will on Monday consider a recommendation from its compliance committee to hand Russia a four-year Olympic ban as part of a sanctions package to punish Moscow for handing WADA doctored and incomplete laboratory data. Russia, which has denied state involvement in doping, says the
Read more
Germany's SPD slip in polls after choosing new leftist leaders
07.12.2019 14:03
BERLIN (Reuters) - Support for Germany's Social Democrats (SPD) has fallen after members last week chose as leaders a leftist duo who are skeptical about remaining in government with Chancellor Angela Merkel's conservatives, a poll showed on Saturday. At a party conference on Friday, the SPD gave their new leaders, Saskia Esken and
Read more
United States and Iran swap prisoners in rare act of cooperation
07.12.2019 13:06
By Parisa Hafezi DUBAI (Reuters) - The United States and Iran swapped prisoners - a Chinese-American detained for three years on spying charges and an imprisoned Iranian - on Saturday in a rare act of cooperation between two longtime foes whose ties have worsened since President Donald Trump took office. Trump said Chinese-American Xiyue Wang was
Read more
Pope meets with Maltese PM hit by scandal over reporter's murder
07.12.2019 13:03
VATICAN CITY (Reuters) - Pope Francis on Saturday gave a private audience to outgoing Maltese Prime Minister Joseph Muscat, ignoring an appeal to cancel the meeting with a premier engulfed in crisis over a probe into a murdered journalist. Francis met Muscat and his wife and family on Saturday morning, the Vatican said, in an audience that was far
Read more
Buttigieg pledges billions to curb education disparities
07.12.2019 12:15
By Michael Martina DETROIT (Reuters) - Democratic presidential candidate Pete Buttigieg vowed on Saturday to spend hundreds of billions of dollars to improve public education if elected, with a plan that boosts funds for "underserved children" and expands early childhood learning. Buttigieg, who has campaign stops this weekend in Iowa where he has
Read more