The best renko bar generators | Forex Factory

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The best renko bar generators

  • #1
  • First Post: Edited Jul 13, 2019 1:20pm Jul 11, 2019 2:37pm | Edited Jul 13, 2019 1:20pm
Hello Traders,
I am personally a renko bar trader and i have been using different renko bars with different stratergies.I had encountered several difficulties since i came across some of renko bars which do not perform the way they are intended to be and hence making trading difficult.The purpose i created this thread is to share with other traders the best renko bars generators which dreaw charts on real time and non repainting as well as sharing ideas on how to trade with renko bars profitably.
You are all welcome
  • #2
  • Jul 11, 2019 2:44pm Jul 11, 2019 2:44pm
This is the first renko bar generator in an ea version known as evolution renko it is a non repainting ea and it can generate four different forms of renko bars.
Enjoy.
Attached File(s)
File Type: ex4 evolution_renko_ea_v1_31 .ex4   28 KB | 5,128 downloads
  • #3
  • Edited 4:45pm Jul 11, 2019 3:16pm | Edited 4:45pm
Different forms of the evolution renko ea.

1.standard renko bar
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 143 KB
  • #4
  • Edited 4:11pm Jul 11, 2019 3:54pm | Edited 4:11pm
1.Standard Renko Setting
After attaching the ea on your chart go to indicator inputs and make the following adjustments
(Watch for varible in green shade are the ones to be adjusted with their adjustments un coloured)

VARIABLE VALUE

Boxsize Boxsize
renko box size :_ you can set any box size you want in points and not pips

Types Types
median renko : set it to false
fixed open on last close: set it to false

Tweaks Tweaks
filter wrong wicks set it to true
alert after reconnection set it to true

Dont change Dont change
renko time frame use any timeframe except those present by default in mt4 which are
M1,M5,M15,M30,H1,H4,D1,W1,MN
renko box offset set it to value 0
max M1 bars? set large number of bars like 100000 or more bars to be counted and be used to ensure loading of maximum bars history
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 165 KB
  • #5
  • Jul 11, 2019 4:10pm Jul 11, 2019 4:10pm
2.Median Renko bar
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 142 KB
  • #6
  • Jul 11, 2019 4:15pm Jul 11, 2019 4:15pm
2.Median Renko Bar Setting
After attaching the Evolution renko ea on your chart go to indicator inputs and make the following adjustments
(Watch for varible in green shade are the ones to be adjusted with their adjustments un coloured)

VARIABLE VALUE

Boxsize Boxsize
renko box size :_ you can set any box size you want in points and not pips

Types Types
median renko : set it to true
fixed open on last close: set it to false

Tweaks Tweaks
filter wrong wicks set it to true
alert after reconnection set it to true

Dont change Dont change
renko time frame use any timeframe except those present by default in mt4 which are
M1,M5,M15,M30,H1,H4,D1,W1,MN
renko box offset set it to value 0
max M1 bars? set large number of bars like 100000 or more bars to be counted and be used to ensure loading of maximum bars history
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 170 KB
  • #7
  • Jul 11, 2019 4:20pm Jul 11, 2019 4:20pm
3.No Gap Two Bars Reversal
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 141 KB
  • #8
  • Edited 4:42pm Jul 11, 2019 4:24pm | Edited 4:42pm
3. No Gap Two Bars Reversal Renko Bar Setting
After attaching the Evolution renko ea on your chart go to indicator inputs and make the following adjustments
(Watch for varible in green shade are the ones to be adjusted with their adjustments un coloured)

VARIABLE VALUE

Boxsize Boxsize
renko box size :_ you can set any box size you want in points and not pips

Types Types
median renko : set it to false
fixed open on last close: set it to true

Tweaks Tweaks
filter wrong wicks set it to true
alert after reconnection set it to true

Dont change Dont change
renko time frame use any timeframe except those present by default in mt4 which are
M1,M5,M15,M30,H1,H4,D1,W1,MN
renko box offset set it to value 0
max M1 bars? set large number of bars like 100000 or more bars to be counted and be used to ensure loading of maximum bars history
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 169 KB
  • #9
  • Jul 11, 2019 4:29pm Jul 11, 2019 4:29pm
4. No Gap Three Bars Reversal
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 141 KB
  • #10
  • Jul 11, 2019 4:33pm Jul 11, 2019 4:33pm
4. No Gap Three Bars Reversal Renko Bar Setting
After attaching the Evolution renko ea on your chart go to indicator inputs and make the following adjustments
(Watch for varible in green shade are the ones to be adjusted with their adjustments un coloured)

VARIABLE VALUE

Boxsize Boxsize
renko box size :_ you can set any box size you want in points and not pips

Types Types
median renko : set it to true
fixed open on last close: set it to true

Tweaks Tweaks
filter wrong wicks set it to true
alert after reconnection set it to true

Dont change Dont change
renko time frame use any timeframe except those present by default in mt4 which are
M1,M5,M15,M30,H1,H4,D1,W1,MN
renko box offset set it to value 0
max M1 bars? set large number of bars like 100000 or more bars to be counted and be used to ensure loading of maximum bars history
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 170 KB
  • #11
  • Jul 11, 2019 4:51pm Jul 11, 2019 4:51pm
Hello traders,
All of these forms of renko charts can be created from only one indicator which is evolution renko given above by just changing few inputs as described. I will end up here for know, its my hope to give out more elaborations and stratergies soon. Lets ask questions and share any difficulties,suggestions and other indicators related to offline charts only and please they should be NON REPAINTING.
thanks
  • #12
  • Aug 5, 2019 12:28pm Aug 5, 2019 12:28pm
I think the best best is to go with something other than MT4 for renko. I believe TradeStation and Thinkorswim both have it as a standard chart type.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #13
  • Dec 3, 2019 9:35am Dec 3, 2019 9:35am
Quoting Ef5
I think the best best is to go with something other than MT4 for renko. I believe TradeStation and Thinkorswim both have it as a standard chart type.
It might be but give a try to MT5 and you will never use it again for RENKO.
  • #14
  • Dec 23, 2019 7:53am Dec 23, 2019 7:53am
Thanks for this, I have been looking for Median Renko.
----o00o--°(_)°--o00o----
  • #15
  • Dec 23, 2019 6:38pm Dec 23, 2019 6:38pm
Hello, Does anyone have a pivot point indicator for Renko, better than this?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDmicroM3.png Size: 66 KB
Attached File(s)
File Type: mq4 Pivot Points.mq4   46 KB | 1,111 downloads
  • #16
  • Dec 24, 2019 12:49pm Dec 24, 2019 12:49pm
Quoting Sorobanista
Hello, Does anyone have a pivot point indicator for Renko, better than this? {file} {image}
You might want to try this one. Sorry I don't have the source file.
Attached File(s)
File Type: ex4 Fibonacci Pivots THV.ex4   6 KB | 1,185 downloads
  • #17
  • Dec 25, 2019 1:16pm Dec 25, 2019 1:16pm
Quote
You might want to try this one. Sorry I don't have the source file.

Thanks.

1
  • #18
  • Dec 26, 2019 3:43am Dec 26, 2019 3:43am
I hope the Evolution Renko EA v1.31 is a super improvement over the one used here.
https://www.forexfactory.com/showthr...2#post12522912

Generally all Renko generators repaint, I guess it's because their output is on off line charts like secondary feed.
We just have to suck up any losses and take the next valid signals generated.
Let it turn and find your entry.
  • #19
  • Dec 26, 2019 3:57am Dec 26, 2019 3:57am
Renko bars should not repaint once the bar is closed.
----o00o--°(_)°--o00o----
  • #20
  • Dec 28, 2019 12:57pm Dec 28, 2019 12:57pm
Quoting Intrepidpips
I hope the Evolution Renko EA v1.31 is a super improvement over the one used here. https://www.forexfactory.com/showthr...2#post12522912 Generally all Renko generators repaint, I guess it's because their output is on off line charts like secondary feed. We just have to suck up any losses and take the next valid signals generated.
I have been trading Renko for over 10 years and I've never seen it repainting. The problem traders encounter is that if you close your MT4 at night and re-open it the next day there could be many Renko bricks missing depending on the Renko generator that you are using. This problem can easily be solved by refreshing the source chart. Since the Renko generator I use is an indicator all I have to do is to open the indicator, click edit then close it and all the missing Renko bricks will be shown correctly on the Renko chart.
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