Indicator notifying if renko bars are created quickly? | Forex Factory

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Indicator notifying if renko bars are created quickly?

  • #1
  • First Post: Aug 1, 2013 9:07am Aug 1, 2013 9:07am
Does anyone know of a MT4 indicator that makes alert if renko bars are created at almost the same time? So the logic might be if three bars in a row open less than 1 second each, sort of thing. That would be helpful to know since the bars could "get away from you" without time limiting when bars open. THanks for your help!

-Stearno
  • #2
  • Aug 3, 2013 2:08pm Aug 3, 2013 2:08pm
search for spike indicator.
  • #3
  • Aug 4, 2013 4:57am Aug 4, 2013 4:57am
I have created one a while back but it somehow got deleted. If you want to backtest the indicator the highest resolution you will get is 60 seconds. If you can code
Take a look at Time
In real time you can set the threshold as low as you want. safe TimeCurrent() and compare it.

PlaySound() gives an alert.
  • #4
  • Aug 5, 2013 5:46am Aug 5, 2013 5:46am
Quoting mtuppers
search for spike indicator.
Appreciate the suggestion. I found a version of Spike Indicator. It paints a bar's range on the chart for each bar. I am looking more for code that alerts if price moves x pips in y time.

-Stearno
  • #5
  • Aug 5, 2013 5:50am Aug 5, 2013 5:50am
Quoting Kilian19
I have created one a while back but it somehow got deleted. If you want to backtest the indicator the highest resolution you will get is 60 seconds. If you can code Take a look at Time In real time you can set the threshold as low as you want. safe TimeCurrent() and compare it. PlaySound() gives an alert.
I like to dabble in code. I could try it, but need some direction to start.

I am basically want a alert if price moves x pips in y time. x and y are extern parameters. I appreciate any help.

-Stearno
  • #6
  • Aug 25, 2013 5:21am Aug 25, 2013 5:21am
Quoting Stearno
{quote} I like to dabble in code. I could try it, but need some direction to start. I am basically want a alert if price moves x pips in y time. x and y are extern parameters. I appreciate any help. -Stearno
Any guidance someone can give me on the specific code, and I will try and write the indicator for this?

Thanks.

Stearno
  • #7
  • Feb 3, 2017 4:15am Feb 3, 2017 4:15am
Hi Stearno,

The problem is that some MT4 platform cannot print more than 1 candle per minute so if you would get a bunch of renko candle within 1 minute all you will get is 1 renko candle. The result is that it is nearly impossible to construct an indicator for this purpose.

Happy trading,

Hutch
  • #8
  • Last Post: Feb 3, 2017 5:59am Feb 3, 2017 5:59am
Very old thread, just answering, posting an indicator, but having only .ex. I believe that with search you someone could find mq file too.
If the bar is full, then the candle was created in "normal" time. If the bar is empty, then the movement was rapid (ex news)
Attached File(s)
File Type: ex4 RenkoAM.ex4   2 KB | 294 downloads
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