Renko Chart

Renko is an alternative price chart display in the trading terminal. This price chart has a similar visual appearance o a series of brick boxes or "Renga" (Japanese). Renko chart gained popularity because of its unique neat and minimalist appearance, making the technical analysis process smooth.

On a regular candlestick chart, each bar represents how the price move according to the timeframe. Whereas in Renko, each bar does not depend on the timeframe, but purely on the movement of pips.

To download this indicator, follow the instruction as written below:

1. Follow our Twitter account  
2. Type your Twitter ID here
3. Click this button
    

How to Install an additional indicator on the MetaTrader platform?

1. Open the MetaTrader platform.
2. Click on the "File", then choose "Open Data Folder".
3. Locate the downloaded indicator in your File Explorer, and copy it.
4. Go back to the MetaQuotes terminal.
5. Open the "MQL4" folder, then select "Indicators"
6. Paste the indicator file.
7. Close the MetaTrader platform.
8. Reopen the MetaTrader platform.
9. Scroll through the "Navigator" section on the left side of the chart. In the "Indicators" category, look for the one with the name of the downloaded indicator.
10. Drag and drop the indicator on the chart.
11. Check "Allow DLL Imports".
12. Click OK.
13. Custom indicator is ready to use.

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