Renko Block Charts

This script is a written a little cleaner, has volume and is a little more efficient than my original one ..great job LastViking , Lou G and everyone who helped and inspired!!!

go here to download:
latest script version
latest indicator version
latest ea version

* * * If you use the paperclip to find your downloads, basically v1.6 was the last script version, v2.1 was the last indicator version, and v3.2 was the last ea version.

Please note - After placing the script/indicator or EA in the proper folder they need to be compiled. The easiest way to do this is to shutdown then restart MT4

Directions for Installing as a script :

Must be done each time you restart mt4:

1. Place the mq4 code in the Experts/scripts directory.

2. Make sure to check the "Allow DLL imports" and "Allow import of external experts" boxes (both of them) are checked. they are under the Saftey section of the Common tab

3. Drop the script on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open.


Directions for Installing as an Indicator :

1. Place the mq4 code in the Experts/Indicator directory.

2. Make sure to check the "Allow DLL imports" and "Allow import of external experts" boxes (both of them) are checked. they are under the Saftey section of the Common tab

3. Drop the script on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open.


To install as an EA :

1. Place the mq4 code in the Experts directory.

2. Make sure to check the "Allow DLL imports" and "Allow import of external experts" boxes (both of them) are checked. they are under the Saftey section of the Common tab

3. Also check the "Allow live trading" box in the Live Trading section of the Common tab. Also make sure the Expert Advisors button is depressed in the Gui. When everything is good a smiley face will appear in the upper right hand corner.

4. Drop the ea on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open.


To view the Renko Chart :

1. To open offline chart : click File(from menu) >Open Offline and pick the chart you want.


Other indicators and EA's for the Renko chart:

Custom indicators and EA's can be dropped onto the offline chart and should work properly. I have only tested a few of my own.



This method for calculating the input for BoxSize is only used when your broker uses 5 digit pricing.

If your broker uses "Fractional pips" or "Pippettes" (5 digit broker, 5 places after decimal on instruments like EUR/USD and 3 decimal places on instruments like GBP/JPY) there are a lot of terms for it, use the following to correctly set up the BoxSize Input variable.

If your BoxSize is set at 15 on you GBP/JPY script(EA) that is really 1.5 pips. Try setting it to 150 for 15 pip blocks. Basically you would have to do that for any Instrument (multiply the number of pips you want by 10 and use that number for BoxSize).



Have fun ...

Thanks for posting this. I've applied it to my chart and will track it next to C4 and THV3 to see how they compare. I don't have the commercial renko script since I don't want to pay for something that I might not use, but I want to test out the Nitro system.

Can you post screenshots of your script and the commercial script side by side for comparison?

yes, man, you did it!
your renko script running itself like a champ : ))))))

sorry couldn't ansver earlier - my comp was online - i wasn't ( been checking this yesterday -fall asleep : ((((( demit )
congratulations - basically it "all what was necessary to prove" - updates and runs 1:1 to org. renko script... good man : )))) thanks, Ellis

I wanted volume in my renko charts, and I wasn't able to folow the logic in the orginal script. So I rewrote it from scratch. I hope no one feel that that I step on their toes for posting this...

Also, this one dosen't gap then hitorical data moves alot while using small boxes (right or wrong, I don't know).

Enjoy

sure not- thank you, LK - there are so mahy different XO, ways and approaches ...
p.s. cool first post on FF : )))

Has anybody tried programming an EA for the renko chart. Renko seemd to be a good trend following noise filtered chart. Anybody??

this is a true gift to experienced traders. I have been using constant range bars and these beat the pants off of that script. Nothing shows the existence of a trend better than renko, I am a convert. Thanks to both posters with their efforts.

settings on my chart are 20. Happy pips to all.

The scrip is nice but is it possible to see on the chart the price movement with in the blocks?
Looks to me that the price is static at one end of the block.
Is that how is supposed to look?
Ty?

Yes, because a new block isn't created before the price has moved more then one blocksize above the curent high or belove curent low. (It's worng too think of it ass price movement with in the block, it can move outside of the block, but no more then one boxsize-(one point).) So you can't easaly dispaly unfinished block/bars in the usual way.

The renko seems really great and how much should I pay for a live version that would be usable on MT4 and where can I find it please ?

Do not hesitate to send me a PM.
Thanks

Hi LastViking,
This is really nice work! I have a couple of Easy Language systems that are based on Tick Bar charts.. Do you think you could convert your script to do Tick Bar Charts? Like every X ticks (15 for example) an OHLC bar is drawn? I've searched everywhere with no luck. It would be so greatly appreciated.

Regards

You can Pm me I can help you with the one.

hi guys ...how to set this renko in my MT4?...thx.

you can find the way watching the video of the author of the Indicator if you use the legal one. Simply Google "Metatrader MT4 Renko bars script" you should find it fast. I mean the renko with live update on your chart. And the one proposed by EllisEdi is really good too. Thank you very much.

hi guys...

which folder to put it on? the renko...script right? or is it indicator folder?

Thank you so much for sharing LastViking. Currently testing which is going well.

Guys - you can put it in your experts folder & use as an ea (enabled) & attach to charts once. It updates live each time you relaunch MT4.

Great noise filter & cleaner than constant range bars. Time is eliminated, but instead of watching the charts constantly, hourly closes have most of the movement (like today with GBP).

Play with size settings to suite & remember to add those extra 0's for 5 decimal brokers.

Clean & fresh charts grrreeaaat - thanks again

Flint

I just wanted to point out that the script I wrote isn't assosiated with any commercial renko script what so ever. It's given away for free, and done by me. I did not put any copyright on it simply because that while the source code is done by me, the idea's was borowed from other scripts (open source scrips, from here & the mq4 codebase). There is nothing truly orginal in there. (Maybe this was wrong, maybe I should have made it "copyleft" or something).

Don't ask me for a live version, because it's allready updating live provided that you enable DLL calls for the script. (Same is true for EllisEdis script too).

/LV

Don't ask me for a live version, because it's allready updating live provided that you enable DLL calls for the script. (Same is true for EllisEdis script too).



Hello,

I did it, but doesn't work. Help please... step by step if you please. I'm not good on mt4 because I don't trade on that platform.

Thank you in advance


Got it...

I seeem to be getting blocks that are out of sync. Anyone else have this problem.

I didn't know it would do that! Very nice. I thought I had to refresh to update the chart. Very cool.