MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator

Hi All, as always sorry for my English coz it's not my native language.


In this thread i wanna share my version of adjustable shift renko chart builder indicator. I already share it in Renko with Mihailo thread, but i think i will put in here in platform tech sub forum, so we can discuss anything about her without make people confusing in trading system thread.


We will discuss all about this renko chart builder indicator here. you can use it for naked trading or lingerie trading..lol (1 or 2 pieces addition of indicators consider as lingerie trading.. ).


so, not only this renko chart builder, but we will also add any indicator or tools that we can use for this beautiful lady.
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MTH Renko Chart Builder Indi Ver 01


Bellow is the parameters of this indicator;


StartingPrice = 131;
(this is example for EURJPY) u can change according to your selected pairs.. select round numbers for more good result)


RenkoBoxSize1 = 5.0;
(this is 'brick' size for 1st renko chart, since i change this from integer to double, so if you use 5 digit broker u can create 12.5 point brick size ..etc)


BoxShiftPercent1 = 50;


(this is the 'shifted' function, the example 'shifting' current renko brick 50% from previous brick up/down. / median renko. but if u like geometrical trading 'shifted' 1/8 th of brick size will give you 'nearly' 45 / 315 degree angle. for example : if you create 10 point brick size, put 12.5 (%) for shifting value will give you 'smoothed' renko brick angle. Again if you use 5 digit broker, u can 'shifted' less than 1 point/pip but maybe it will 'slowdown' your MT4 so be careful example: BoxSize :5.0 and BoxShiftPercent :10 will give ypu 0.5 point step per brick )


RenkoTimeFrame1 = 2;
(well, i believe you already know this, offline time frame for 1st renko chart)


RenkoBoxOffset1 = 0;
(this is old function for adjusting brick position, but since we use 'starting price', keep the default 0).


ShowWicks1 = true;
(function to show or hide wick)


MaxBars1 = 10000;
(function to limit maximum brick per renko chart)


Use2ndRenkoChart = (Default:false) change to true if you want to create 2nd renko chart


// setting for 2nd renko chart, same explanation with above
RenkoBoxSize2 = 10.0;
BoxShiftPercent2 = 50;
RenkoTimeFrame2 = 3;
RenkoBoxOffset2 = 0;
ShowWicks2 = true;
MaxBars2 = 10000;


EmulateOnLineChart= true;
(by default, will make offline chart alive with slight delay of course)


StrangeSymbolName = false;
(set to true if your broker pair names different than standard pair name (symbol))


I share this renko chart builder indicator 'as is' and at your own risk... ok.



Enjoy and best regard.
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14 January, 2014 UPDATE : NEW SHIFTED RENKO CHART BUILDER INDICATOR


MTH Composite Currency Renko Chart Builder Indi v01



Hi All,
This is my last creation of shifted renko chart builder indicator for MT4, the basic concept is similar with previous version, the different is that with this new indi version, you can create/build your offline chart when you put this indicator in any TF standard candlestick chart from any pairs.
for example, you can put this new shifted renko chart builder indicator at TF H1 GBPJPY standard chart but create offline shifted renko chart of EURUSD from M1 EURUSD standard chart as your source data. With this advantage, you just need open one standard chart of any pairs with any TF, and create more than one offline shifted renko charts of any pairs you like with any TF selection as your source data.


Default Setting input explanation;


ID ="R1";
change this ID if you want to put more than one renko chart builder indicator in same standard chart


SourceTF =1;
this is source data TF selection, default M1, you can put : 1, 5, 15, 30, 60, 240, 1440, 10080, 43200 as input but pay attention that source data higher than M1 will need specific understanding to use it, so i suggest leave it with default M1.


Pair1 ="EURUSD";
this your source data pair, default is EURUSD, of course you can change it as you like


StartingPrice =1.0;
default starting price for non JPY pair is 1 (non JPY parity), you can change it as you like, for example change to 1.37 for EURUSD. If you use JPY pairs, you can change this to 100 (JPY Parity) as default or for example change it to 141 or 1000 for Gold. Use round number for better result.


RenkoBoxSize =10;
default brick size 10 p, for pairs with small spread, you can adjust this according to your average pair spread, in general brick size is 3 times from your average spread.


BoxShiftPercent =12.5;
default shifting in percent 12.5 % for georenko concept. if you need standard renko chart then change it to 100%


RenkoBoxOffset =0;
renko brick offset, leave it at 0 if you don't need special purpose renko chart.


RenkoTimeFrame =10;
default offline renko chart TF at M10. If you create more than one shifted renko chart of same pair, for 2nd chart change it to any number that different from standar TF period.


ShowWicks =true;
showing wick/shadow of renko brick


MaxBars =14400;
this is maximum bars/candles limiter. default 14400 bars of M1 source data ( 1440 bars x 10 days). If you don't need long term analysis with renko chart, keep this default to eliminated CPU slowdown from read-write process. If you use higher TF source data, adjust this Maxbars as you need. for example if you use TF H4 as your source data (for specific purpose), you can change this to 120 for 20 days renko chart.


EmulateOnLineChart =true;
leave this default


StrangeSymbolName =false;
if your broker / trade account use non standard pair name set this to true, but leave it false for standard pair name.


DisplayInfo =true;
this will show information text in your standard chart where you place this renko chart builder indicator


bellow setting for information text. adjust this as you need, especially if you use more than one renko chart builder indicator in same standard chart.


FontName ="Arial Narrow Bold";
FontSize =11;
FontColor =DodgerBlue;
Corner =0;
Xpos =250;
Ypos =3;


I hope this update will help your trading better.
ENJOY and HAPPY TRADING


My TRADE SYSTEM THREAD USE THIS MTH Composite Currency Renko Chart Bulder Indi v01:
http://www.forexfactory.com/showthread.php?t=466450


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STEP BY STEP "HOW TO CREATE YOUR FIRST OFFLINE RENKO CHART"

1. Download Renko Chart Builder Indicator or EA to your temporary folder outside drive C:, Scan it for virus protection
2. If you use Windows 7 or above, make sure your MT4 program folder is outside of your Windows / Program files.
3. Copy or move your downloaded Renko Chart Builder program into MT4 folder. if this is Indicator type copy to MT4 Expert/Indicator folder, and if this is EA type then copy to MT4 Expert folder, Restart your MT4 if necessary.
4. Open your MT4 platform/program, and open M1 standard candlestick chart of pair that you need to create your offline renko chart as source data chart, for example M1 EURUSD.
5. Release auto scroll if active, and press Home Button at your Keyboard, to make sure you get enough bars for your source data chart. (for normal use, 2 or 3 months M1 bars data is enough).
6. Open your navigator window box, search your Renko Chart Builder Name. for Indicator type, search in custom indicator folder, for EA type, search in expert folder.
7. Click and Drag to your M1 source data chart, if window box input setting not automatically show up, then right click on your source data chart and select Indicator list ( Ctrl + I ) for Indicator type of Renko Chart Builder, or press F7 for EA type of Renko Chart Builder to open input setting window box.
8. Adjust the input setting, as you need, for this example of EURUSD. and suppose you use my MTH Composite Currency Renko Chart Builder Indi v01. just follow my explanation about input setting for this indicator above.
9. At Top Left Corner of your MT4 Platform, Select 'File' Menu and Select 'Open Offline' menu to open offline chart window box.
10. For this example, search for EURUSD, M10 and double click it to open your EURUSD Offline Renko Chart.
11. Apply your indicators or template to your offline renko chart.
12. I wish you success with your trading.

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ATTENTION...!!!

 

1. Both Renko Chart Builder Indicators only work with MT4 Build 509 (old MT4), and not work with the new release of MT4 with different offline chart file header.
2. Never ever put ShiftingPercentage to less than 1% or your MT4 will crash.
3. Set MaxBars as minimum as you can.
4. In case your MT4 platform crash, Simply open your History Folder and find your trouble offline chart file, for example USDJPY, M10 and delete it.
5. Go to your Custom Indicator folder, find your renko chart builder indicator and move to another folder outside from MT4 folders
6. Re-Start your MT4, check your M1 source data chart and check indicator list, if your renko chart builder indicator is gone then, close your MT4 or simply close your M1 source data chart
7. Re-attach your renko chart builder indicator to your MT4 custom indicator folder and restart your MT4 again.

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MY NEW TRADING SYSTEM THREAD about ADVANCE RENKO TRADING SYSTEM (ARTS) (http://www.forexfactory.com/showthread.php?t=470219) that already compatible with new release of MT4 build 600, including new accelerated shift renko chart builder indicator for MT4 build 600.
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Wow... my best teacher visit my thread.. thank you Sir..

About to know how many 'bar' in your feeder chart (M1 candlestick chart)
you can move and hover your mouse cursor on the pair tab like this



so you can easily put maxbar size to your renko builder indicator, not bigger than your total bar of your data feeder chart.
hope it help

Hy Kiads,

I will follow this thread with interest as i like shifted renko very much...

Still playing to find something suitable which i can use in my trading arsenal i am almost finish but think sometning missing...

For now i am using brick 16 and shifted 25% which is 4 pips so i have more time as trading 3 pairs...

Regards!

You're more than welcome ... Thank you for your support. Very much appreciated

Keep up the great work. I will follow this thread with great interest.

Once again thank you Sir.. , I hope we can met in Phuket Island in the future..

Ok then, this is one of our lingerie to put on her.. (if you like of course)

this is fastTMAline(band), i add small modification so we can change the price selection.
is this repaint ? lol.. of course big yes.. and repaint is beautiful..

I use 3 instance for High price, Close price and Low price.. and I already set the default parameter to match my shifted renko (25% shifted with 5 point brick or bigger)
so you only need to select the price type and adjust line color as u like.

How to trade with it, well you can 'watch' her for a while to know 'how'. Basically, you can do 'trend following', 'counter trend' , 'range' trading with her.
Just keep your 'eye' sharp, with the 'repaint' matter that sometime give you 'hidden clue' about next direction.. lol.

"Watch' the change color period... in my example picture bellow , with Goldenrod color. mostly this color will appear when price in 'ranging' condition.
In trending condition, the 'brick' will almost don't 'touch' the band. and if the 'brick' goes outside the band.. too far, then you know what to do..

Hi, my friend

Your 16 brick size shifted 25% renko on EU with HLC fastTMAline

can you see the 'clue' ?

Yes Kiads....it is easy to see almost every move when you looking at those great shifted renko charts....

I also have tma on chart but slower one... here is look of my charts but still not finished tpl

Regards!

Next, this is little jewelry for her
this code base on the famous B-Clock.
I modified it so we can use it in offline renko or range bar chart. On standard candle chart the time will show remaining bar time for new bar, but in renko or range bar chart it will show elapsed time for current bar.
Also it will inform you the brick size of renko chart or bar size of range bar, with offline TF and pair name/symbol, and other info that you can select (on/off).
feel free to change position and color.
Please adjust the Alt_Chart parameter according to your chart type as example in the info note in input parameters tab.



Enjoy..

Cool...
maybe you can try HLC fastTMA band , it is nice to put 'tight' SL in the most outside band.., when the brick 'touch' the upper/lower bands and you want to enter the trade...

Thanks for advice still playing until i find best way....

Regards!

Hey Kiads can you please share tpl of 3 tmas!

Tnx in advance!

Regards

Hi my friend,
here i set the template (including indicators, some of it you already own). I make it for renko brick size 16 shifted 25% EU.
there also sweetspot indicator (round number grid indicator). if you use this for another pair, don't forget to change the starting point.
in this EU example i set the shifted renko starting point at 1.1 and also the sweetspot indi to 1.1 with mainlevel 640 (5 digit broker) and sublevel 160 pipettes (16 pip).

Hope it help.

Thanks bro!

great work kiads...thanks

hi zokynho, could you share the template/indicators....i am particularly interested in the buy/sell arrow....rgds

Hi my friend Shinewel.. good to see you here...

btw, for your 123 breakout this adjustable shift renko chart will help you a lot as long as you already know the background of this type of renko.

This shifted renko is simply 'zigzag' with better view, and will clearly visualized 'fractal' formation, just like 'finger' in our hand.

All 'averaging' OHLC indicators type will look 'great' at your shifted renko chart history, but not always like that in real time.. , because of its uniformity candles size creating 'smoothed' (less noise) input data to the indicator.. so actually the averaging indicator 'receiving' already 'averaged' data feed.

But, if you have geometrical chart trading strategy or S/R or S/D strategy or breakout strategy this charting type will help you..

Of course you can still use any 'averaging' indicators in this shifted renko chart, but with 'different' point of view to use them..

hope it help and best regards..

Hy Shinewel,

still didn't finish tpl and already change some of indies so will put it here when i'm done...The arrow is cross of Tdi which you can find here http://www.forexfactory.com/showthread.php?t=294327 with explanations how is it work!

Regards!

Hello Zokynho


it is posible to share with use your template

reg