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Thread: RENKO chart

  1. #1
    Junior Member
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    Jan 2009
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    Default RENKO chart

    Hi, can someone program a scrip for MT4 for based on renko charts.

    it might be complex, so is it possible for someone to prgram is as simple as this.

    "close open position when brick size in opposite direction occurs?"

    ie say brick size is 10 pips, the scrip will close the position when the currency pair's price decreses by this amount and also we can change the size of the bricks.

    i think this is a nice little profit maker to follow momentums. so if u see a momentum, ie 4-5 bricks showing upward trend, u can take a buy position and let this scrip work so if there is a reverse then it will reverse position and we wont need to be at our comptuer screen.

    thanks

  2. #2
    Administrator funyoo's Avatar
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    7,003

    Default

    Quote Originally Posted by patcox View Post
    Hi, can someone program a scrip for MT4 for based on renko charts.

    it might be complex, so is it possible for someone to prgram is as simple as this.

    "close open position when brick size in opposite direction occurs?"

    ie say brick size is 10 pips, the scrip will close the position when the currency pair's price decreses by this amount and also we can change the size of the bricks.

    i think this is a nice little profit maker to follow momentums. so if u see a momentum, ie 4-5 bricks showing upward trend, u can take a buy position and let this scrip work so if there is a reverse then it will reverse position and we wont need to be at our comptuer screen.

    thanks
    Hi patcox and welcome,

    See here.

  3. #3
    Junior Member GationLi's Avatar
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    Nov 2010
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    Washington
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    Default

    Quote Originally Posted by funyoo View Post
    Hi patcox and welcome,

    See here.
    so you should not reinvent the wheel )))

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backtesting, change, expert, mt4, pips, profit, renko, renko chart, simple, trader, trend

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