Ultimate Renko plug-in for Metatrader4 & Metatrader 5

A better kind of renko and possibly the best chart for day trading.

Ultimate renko (an upgraded version of the MedianRenko plug-in) is a variation of the regular renko chart that enables various charting types to be created and is essentially the only renko plug-in that you will ever need.

All charts can be shown with or without wicks, the user has full control over symmetry and is able to shift the new bar’s open value relative to the previous bar’s close (retracement factor). These three powerful settings will enable you to create all of the well known renko variants such as the median renko (a.k.a. mean renko or better renko), turbo renko, hybrid renko, renko, vanilla renko and PointO. Examples of these charts along with the settings to create them using the plug-in are showcased below:

MedianRenko chart example
Median Renko chart example and settings:
Retracement factor = 0.5
Symmetrical reversals = true
Show wicks = true

Renko chart example
Vanilla Renko
chart example and settings:
Retracement factor = 1.00
Symmetrical reversals = true
Show wicks = false

Turbo Renko chart example
Turbo Renko chart example and settings:
Retracement factor = 0.25
Symmetrical reversals = true
Show wicks = true

Hybrid Renko chart exampleHybrid Renko style chart example and settings:
Retracement factor = 0.25
Symmetrical reversals = false
Show wicks = false


PointO chart example and settings:
Retracement factor = 1
Symmetrical reversals = false
Show wicks = false

Example of Renko chart with visible wicksRenko (with visible wicks) chart example and settings:
Retracement factor = 1.00
Symmetrical reversals = true
Show wicks = true

Ultimate Renko plug-in highlights

What makes this product the only renko plug-in you will ever need for your Metatarder terminal

Adapts to changing market conditions

The size of the renko bricks can be manually set to any value that you feel comfortable trading with, or can be fully adaptive to changing market conditions thanks to the unique ATR driven bar size calculation that uses a user definable percentage of the daily ATR value.

Smooths out indicator readings

In general, ultimate renko charts are smoother looking, precisely indicate the session’s exact highs an lows, plus make indicator readings a lot smoother. You may find this new charting type to be the perfect balance between traditional renko an range charts.

Backtests with 99% modeling quality

Backtesting of EAs on all charts created by the ultimate renko plug-in is possible using the proprietary CSV2FXT script (available only on the MT4 version). The script is used to create binary HST & FXT files for renko charts from CSV text files with tick data.

Offers various ways of synchronizing your charts

The plug-in offers three settings that may be used to synchronize your charts so they stay the same each time you restart your terminal. This is also very important, if you wish to run the same settings on several terminals. The recommended method for synchronization is to utilize the “ResetOpenOnNewTradingDay” setting, but you may use “StartFromBar” or “useFirstRenkoPipOffset” settings instead.

Provides consistent values for the trading day

The ultimate renko plug-in offers an optional feature, which ensures daily (or session) reference consistency by resetting the bars OPEN value on each new trading day. This keeps the daily open, low, high and close values consistent with the actual daily candle values, which is very useful when you trade stocks, indexes or just wanting to see the weekend gap (and all daily gaps) clearly visible on your charts.

Metatrader 4 specifc features of the Ultimate Renko plug-in

Create live custom renko charts on MT4 for manual or automated trading via EAs

Highly optimized C++ engine for calculation of renko bars. Plug-in remains stable even in fast moving markets (i.e. during news releases).
Compatible with all of the latest MT4 builds and all Metatrader4 brokers. Ensures compatibility with Windows (WindowsXP and up), MacOS (PlayOnMac) & Linux (PlayOnLinux).
Bundled with MedianRenkoChart_info indicator, which displays the High and Low thresholds for the current bar, bar size information and provides optional sound and/or alert popup on bar close.
Plug-in supplied as indicator compilation – setup several renko charts from a single 1M chart.
One time only low price payment (zero ongoing charges).
Free lifetime updates (via online updater).
Instant download after purchase.
Full documentation included.

Trial Version

$0

Free 7 day trial


Download

Standard version

$45

One time payment only!

  • MT4 version
  • License for 3 computers
  • -
  • Free Support
  • Free Updates

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PRO version

$65

One time payment only!

  • MT4 version
  • License for 3 computers
  • Includes CSV2FXT custom script
  • Free Support
  • Free Updates

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Now also available for Metatrader 5

The plug-in for MT5 can be download directly from the MQL5 Market

Buy Median and Turbo renko indicator bundle customer indicator in the store selling algo trading systems
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Median and Turbo Renko plug-in for Metatrader 4 & Metatrader 5, 6.7 out of 10 based on 106 ratings
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