Renko Mt4 Parameters
The brick size will control the amount of pip per renko brick. Whether you are using a broker with 4th or 5th decimal, you should specify the same value in this field. 20 pip will still be 20 for a 5th decimal broker.
The rest of the parameters control the visual components of the renko chart.
There is a also a trading alert where it can set to true to alert you via email or simply a pop up box in times of trend change as detected by Mt4 renko chart.
What you will see on the Renko Mt4 Chart
The Renko Mt4 chart you will download today works on a real time chart. If trading renko is what interests you, we encourage you to download the indicator today and have it installed in your Metatrader 4. You'll be surpise by how simple this indicator works and how much it will improve your foresight at trading the forex market.
Benefits of Using Renko Chart on Mt4:
- They project hidden support and resistance lines
- They project key breakout areas better
- Noise is eliminated in renko chart
- Renko charts have a longer history than OHLC charts.
- Use by forex trading professionals and fund managers
- Chart patterns are more easily detected in renko charts than OHLC chart
- It displays much more data than OHLC charts- less is more approach
- It provides you an edge over forex traders who use OHLC charts
Download Renko Mt4 Indicator Now
For limited time only, the renko Mt4 indicator is free for download.
What Customers are Saying...
11th Feb 2013
31th May 2013
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Note : If you still needed a bit more information and their benefits on renko chart trading, look what some of the most popular trading forums have to say on renko charts: