Indicator: Renko Range Detector
- Detects and displays the fixed size of the Renko Bar/Candle range.
- Fast and easy identification of chart parameters facilitates trading efficiency.
Note: This indicator is intended for use with Renko Bars/Candles, not Standard Bars/Candles.
- Renko Bars/Candles all have the same fixed range value from open to close..
- Note for newbies: A Renko offline charts is generated from a Scripts, or Indicators, or Expert Advisor running on a M1 chart
- Abundant additional information is available on the internet.
Renko Range size calculation: Open – Close for down bar and Close – Open for up bar.
Gold. M3(offline): 1203.0 – 1201.5 = 1.5
MT4 Indicator Download – Instructions
Renko Range Detector is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Renko Range Detector provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Renko Range Detector.mq4?
- Download Renko Range Detector.mq4
- Copy Renko Range Detector.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Renko Range Detector.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Renko Range Detector.mq4 is available on your Chart
How to remove Renko Range Detector.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: