Flex Renko Can Render Other Renko Types

//Flex Renko Can Render Other Renko Types

The Flex Renko chart type, embedded in the OmniaBar indicator, can actually render several other Renko derivatives, just by setting its parameters to specific values.

Renko (with wicks)

Settings for the Renko chart

Settings for the Renko chart

This settings reflect the Renko 100-point (10-pip on a 5-digit scale axis) chart.

Renko (no gap)

Settings for the Renko chart with Open price relocation off (

Settings for the Renko chart with Open price relocation off (“without gaps”)

This settings reflect the No Gap Renko 100-point (10-pip on a 5-digit scale axis) chart. The ReOP switch prevents the Open reloacation to the new position after a reverse candle appears.

Mean (Medium) Renko

Settings for the mean Renko chart

Settings for the mean Renko chart

This settings reflect the Mean Renko 50-point (5-pip on a 5-digit scale axis) chart. Mind the difference – the main parameter stands for the candle body in Flex Renko settings, unlike the step in the mean Renko settings. So the main parameter needs doubling the value to render the equivalent mean Renko chart.

Point Original

Settings for the Point Original chart

Settings for the Point Original chart

This settings reflect the Point Original 100-point (10-pip on a 5-digit scale axis) chart. In this chart type the ReOP switch makes no difference (zero in the reverse parameter ensures no Open price relocation).

2016-10-16T18:53:54+00:00 February 25th, 2016|Categories: Tips & Tricks|3 Comments

3 Comments

  1. Mauricio August 29, 2016 at 2:36 pm - Reply

    Hello.

    I need a generator renko historical data for baktesting MT4. ( historical 3-4 year)
    , flex Renko Chart with open price relocation options (on/off)

    Flex renko FX Builder does this ?

    Thanks

    • Milan August 29, 2016 at 7:33 pm - Reply

      The Flex Renko FXT Builder always applies the Open relocation.
      All the Renko charts from the FXT Builder relocate candle Open with the candle final tick. The final relocation has no effect on the tested EA, so this setting is omitted.

      • Milan August 30, 2016 at 8:05 am - Reply

        I finally changed my mind, I will include the option to inputs. There are some EAs, which require the non-relocated open price mod in Renko charts and even do check it.
        Mind, even though the candle shapes differ a lot, the ticks within every candle are still identical in the tester.

        The change will be implemented in v. 102 release.

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