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  #1 (permalink)  
Old 02-28-2006, 09:09 PM
006 006 is offline
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Actual Renko

If someone could put together an actual Renko indicator for us it would be really helpful, I know I and some others would be very appreciative.

Not a line or histogram based renko indicator, but the real box renko.-between convictions.

Its extremely useful for making sense when the market is in

Many many thanks.

006
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Old 03-01-2006, 12:07 AM
006 006 is offline
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Found one here but its only its not in english.

many thanks again.
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Old 03-29-2006, 12:39 AM
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renko

It depends what platform you are using , I havent seen a successful renko for metatrader but some other platforms do have them
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Old 03-29-2006, 06:30 PM
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some renko kagi here
Attached Files
File Type: mq4 KAGI_1.mq4 (6.9 KB, 1336 views)
File Type: mq4 KAGI_2.mq4 (11.2 KB, 1336 views)
File Type: mq4 RENKO_1.mq4 (8.2 KB, 1714 views)
File Type: mq4 RENKO_2.mq4 (8.5 KB, 1736 views)
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Old 04-03-2006, 05:38 PM
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KAGI2:
gbpusd 1.7915
I need 5-100 PIONT,NOT %
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Old 11-15-2007, 02:40 PM
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Question Renko for MT4

This Renko doesn't seem quite like the others. I'm used to setting .002 for 20 pips on the majors, 0.5 for G/J, etc... but this one doesn't seem to allow for decimals. If I want 20 pips per box, would I put that in as just a straight 20, then? This particular Renko also seems to scale according to timeframe, which doesn't sound quite right. Is it used slightly differently? Is there perhaps a tutorial somewhere?

Many thanks in advance,

-=Black Knight
fxKnight.com : Tools and Strategies to Empower the Forex Warrior
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Old 11-15-2007, 03:20 PM
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From "Technical Analysis from A to Z":

Renko
Overview

Code:
The Renko charting method is 
thought to have acquired its name 
from "renga" which is the Japanese word 
for bricks. Renko charts are similar to 
Three Line Break charts except that 
in a Renko chart, a line (or "brick" 
as they're called) is drawn in the 
direction of the prior move only 
if prices move by a minimum amount 
(i.e., the box size). The bricks are always 
equal in size. For example, in a 5-unit 
Renko chart, a 20-point rally is displayed 
as four, 5-unit tall Renko bricks.

Kagi charts were first brought to 
the United States by Steven Nison 
when he published the book, Beyond Candlesticks.
Interpretation

Code:
Basic trend reversals are 
signaled with the emergence 
of a new white or black brick. 
A new white brick indicates 
the beginning of a new up-trend. 
A new black brick indicates 
the beginning of a new down-trend. 
Since the Renko chart is a trend 
following technique, there are 
times when Renko charts produce 
whipsaws, giving signals near the end 
of short-lived trends. However, 
the expectation with a trend following 
technique is that it allows you to ride 
the major portion of significant trends.

Since a Renko chart isolates 
the underlying price trend by 
filtering out the minor price changes, 
Renko charts can also be very 
helpful when determining support 
and resistance levels.
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Old 11-15-2007, 05:31 PM
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Question Thanks

Thanks, NewDigital... appreciate the reference. I'm familiar with the theory, was just having trouble with the settings on THIS particular Renko indicator (Renko_2 for MT4). Hard to put in 0.02 when no decimal point is allowed, thus I'm wondering if "20 pips per brick" would be input as just 20? 2? Etc.

Thanks again,

-=Black Knight
fxKnight.com : Tools and Strategies to Empower the Forex Warrior
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Old 11-15-2007, 05:46 PM
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Look at this link:
Renko Charts - MQL4 Code Base

Click the image to open in full size.
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Old 02-09-2008, 11:13 AM
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actual Renko charts in the candles (not as indicator)

Hi,

has anyone ever tried to make renko charts (candles that are based on number of pips in one direction: candles close after e.g. 20 pips up or down, and don't close after a certain period of time e.g. 15min)? I have found a custom indicator that displays a renko indicator at the bottom of the chart, but I need the actual candles in my chart to be "renko candles".

thx
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