Does anybody know where i can get a Renko Charts Indicator with access to Source Code or that supports EA development…Free would be better.
Look at this thread: Renko Charts & D1 for profitable short term trading
Are there ever going to be proper renko charts on mt5 where we can apply any indicator we would like to it? The current renko chart options are mostly a renko bar chart in a separate indicator window which don’t allow us to add indicators to it.
Hello, I don’t know of free Renko source code but if you are new to Renko that is probably not the place to begin.
You might check out the work of Sergey Deev (work4it) who has developed a UniversalEA and Renko indicators that work together to form a functioning ONLINE Renko EA. I am trading some of them now for forward testing. I suggest you use a DEMO and not alive account. So far the results are interesting but not overall profitable (the test is only running about a week.) He sells the EA and indicators that form the ONLINE working EA with a variety of strategies. Check it out and consider the pros and cons before risking real money.
I have posted more about these on my profile page and will keep it going after the new year. This is my holiday break from active trading.
I am not looking to do automated trading. I do technical analysis through renko bar charts and tick charts with mt4. I am looking to move onto mt5 now that metaquotes is discontinuing mt4. However, I have searched the internet for both renko and tick chart solutions with mt5 and there don’t appear to be any that function like the offline chart solutions in mt4. What I can’t understand is why we are being left without something that is a fairly basic feature which is being able to do technical analysis on other types of charts other than time based charts in mt5.