Mean Renko Bars

Mean Renko Bars2016-10-17T15:23:22+00:00

If the Trend is a Friend

Mean Renko charts are used for alternate price charting. Unlike the usual time framed chart – where every candle represents a fixed time interval – the goal of Renko chart is to display price movement in increments, called bricks. Neighbouring Mean Renko bricks overlay by 50%.

  • Including precise, tick-based testing (aka 99% testing model quality). See Mean Renko FXT Builder for more details. Limits may apply.
  • Precise and Fast and Non-Repainting. Indicator is based on live price feed. Once the price tick arrives, it is recorded and used in all subsequent indicator sessions. Fine data is used only where reasonable, keeping performance at a high level and preserving the data used in previous calculations.
  • Wide Range of Parameter Values. Indicator uses multiple timeframes history, from a week level down to a tick level, ensuring high speed and accuracy for many different input settings.
  • Controlling Performance by a User. Limiting the initial chart length to a fixed number of bars enables user to control chart performance in a defined manner. Moreover, if necessary, indicator can reduce frequency of chart updates.
  • Graphical User Interface. Settings for deployed generators are accessible directly in the chart, both the feed chart and the generated chart. Accessing settings from the generated chart makes parameter handling comfortable.

Installation Guide and First Steps

Watch the video to learn how to install and use mean Renko.

Get OmniaBar License Key Bundled @


Unique Features

What are additional features of Ovo offline generators?

  • the generator is an indicator rather than a script or EA, which makes it more comfortable for deployment
  • input setting is adjustable from multiple places: from the input dialogue, or from the entry box of an indicator sub-window, or from the offline chart using additional indicators (Omnia Remote, Omnia Auto Range). Settings on the offline chart makes the range switching as flexible as switching between timeframes.
  • safe timeframe switching of the feed chart  (no need for sacrificing the feed chart for a single timeframe)
  • generator can detect and optionally break chart into trading sessions
  • generator uses all available timeframes for the initial model, and it is not bound to a single selected timeframe
  • when starting up, the indicator selects the chart starting anchor from the user-defined chart candles count
  • a single indicator can serve multiple identical offline charts (a single chart ID in multiple windows)
  • detects significant drop-outs in feed and rebuilds the offline chart after the feed updates
  • displays consistent candle tick volume calibrated to regular timeframes, so you may rely on the tick volume in your analysis and EAs
  • guards for a change of the feed server, so it updates the chart if you switch between accounts
  • works properly with symbols having MQL unfriendly names (like "EURUSD..", i.e. trailing double dot in the name)
  • reports unexpected time gaps in the MT4 history, reports inconsistencies between symbol timeframes
  • excludes phantom (no volume) ticks
  • fixes incorrect input for a non-trivial instrument tick size
  • can decrease chart refresh rate on demand
  • indicator development is still open, you may expect fast fixes for new Metatrader builds


  1. Art October 30, 2015 at 11:45 am - Reply

    Hi, observing the way the bars work. It seems that, when a new bar open’s, the open is instantly moved back to the middle of the previous bar, is this correct? If so, is there any modification needed to EA’s that open trades at the open of a new bar?

    • Milan October 30, 2015 at 12:49 pm - Reply

      Hello Art, the candle open is by definition artificial, offset by more than a half the candle body. If you plan to use EA on artificial charts, you must know their construction. For this chart type the EA should not use the open price in calculations for entering a position.

  2. Art October 30, 2015 at 4:32 pm - Reply

    Thanks Milan, does that mean the EA should use the previous bar close for the calculation?

    • Milan October 31, 2015 at 10:13 am - Reply

      Yes, that would be wise if your EA uses this chart type for entry at a new candle open.

  3. yugge November 9, 2015 at 8:23 am - Reply

    Hello. I’m trying to contact you by CONTACT FORM, but is experiencing failure. Is there another way to contact you?

  4. Bruce March 30, 2016 at 10:06 am - Reply

    Hi Milan,

    Dopes your Median Renko have an optional sound or alert popup on bar close feature?

    Another MT4 Renko developer has a interesting feature he calls “turbo Renko style”, with an adjustable retracement setting. So the user can experiment with different retracement settings, 20%, 30%, 40% etcetera.

    Have you ever thought of including a retracement settings function?



    • Milan March 30, 2016 at 10:11 am - Reply

      in case you mean a Renko with adjustable continuation and reversal conditions, it is included exclusively in the OmniaBar under name Flex Renko.

  5. Bruce April 2, 2016 at 4:47 am - Reply

    Thanks Milan,

    Does your Median Renko have an optional sound or alert popup on bar close feature?

  6. gdk May 17, 2016 at 2:52 am - Reply

    hi do you any EA on mean Renko that work well in forex ?

  7. Andy June 23, 2016 at 7:29 am - Reply

    Hi Fellas,

    I am very new to renko bars … There are so many renko bar generators

    Ovo Mean Renko

    Ovo Pro Renko

    to name few.

    What is the best renko bar builder out there? I want to be able to backtest and memorize renko patterns without repaint.

    What are pros and cons of non repaint renko bars?


    • Milan June 23, 2016 at 8:40 am - Reply

      If you are not yet decided which one is the best, you may consider the OmniaBar indicator – then you have all the types lifetime, and you may swap charts on-the-fly with two mouse clicks, and to compare, which one suits you best.
      The non-repainting feature means, that you get the same chart shape if you restore the previous chart parameters. Re-opening the chart, restarting the terminal, or swapping parameters back and forth would draw the identical chart shape.

  8. amoc June 23, 2016 at 9:57 am - Reply

    i downloaded your mean renko EA for a trial but nothing happens when i try adding it to my MT4 platform

    • Milan June 23, 2016 at 11:09 am - Reply

      Hello amoc, there is no EA in this site. Please try to follow the video guide on the Renko page to properly set the chart.

  9. nitta June 26, 2016 at 12:57 am - Reply

    hello ,how i can download trial ? thankyou very much

    • Milan June 26, 2016 at 5:41 am - Reply

      Hello nitta, click the Download button in the upper right corner of this page. For more details, please watch the video guide on this page.

  10. Adrian July 9, 2016 at 2:13 pm - Reply

    Hello, I would like to know if you can accurately backtest using the mean renko bars? Or do they repaint depending on how many bars back you choose to show? E. g. if you put 1000 bars it shows you the past 1000 bars, and after you put 500 bars, are these 500 bars the same as the last 500 bars shown when you selected 1000 ? Thank you

    • Milan July 15, 2016 at 10:43 am - Reply

      Hello Adrian,
      regarding the 500/1000, in most cases the answer is yes, though the first bar in the chart might be skewed.
      For the precise backtesting please look at page

  11. Edy July 15, 2016 at 10:29 am - Reply

    Hello Milan,

    I’m just wondering what does the wick in Mean Renko mean? I mean, why does the wick appear in some candle and not in the others? I believe understanding this will help me using Mean Renko even better. Thanks!

    • Milan July 15, 2016 at 10:52 am - Reply

      The wick takes advantage from the Japanese candle, which is used for simulation of the Renko brick, and displays where (and how much) the price exceeded the brick boundary before it closed the brick body. As the Open price of the mean Renko brick is offset by half of the preceding brick body, some wicks are overlaid. If you prefer to disable the Open price offset, use rather Flex Renko chart 50/50 (OmniaBar) and disable open price relocation.

  12. tahir July 29, 2016 at 1:30 pm - Reply

    I have not received an email as I have bought the mean renko indicator also do I download the free version first

    • Milan July 29, 2016 at 2:20 pm - Reply

      Hello Tahir, please use the Contact for when requesting a user-related support.

  13. Rodney July 30, 2016 at 3:30 pm - Reply

    Hello Milan! Thank you for putting together a fantastic set of Renko tools. I’m very interested in trying to put together a simple EA to run using Mean Renko (buying on the 2nd consecutive positive Renko bar and selling on the negative) . I’ve seen other EAs that utilize this on other Renko chart types (none of which are anywhere near as good as your charts). Eventually I’d like to build in some other filters as well but that’s a good start. Do you have anything like that for ovo charts or perhaps someone you know that builds EAs utilizing your Renko charts? Thanks again for all your hard work!

  14. Prashant August 4, 2016 at 11:09 am - Reply

    Hi Milan,

    Have been using your Mean Renko bars for a year now. Works fantastic. Would be even better if you provide a turbo upgrade i.e. include a retarcement factor which would make it even more flexible to use. Eagerly awaiting your opinion on the same.

    Thank You!

  15. Jack August 10, 2016 at 12:05 pm - Reply

    Hello, would it be possible to implement some alerts in the indicator? Namely, when a candle of a different color than the one behind it closes. Thanks for your time

  16. Gary February 13, 2017 at 3:41 pm - Reply


    First of all I’m really keen on the idea of a median renko chart that doesn’t repaint past bars. My current MR indicator will repaint bars from last week if I refresh the chart.

    My personal experience of Median Renko builders has found that they tend to be quite CPU intensive.
    Can this indicator handle multiple offline charts for multiple pairs without causing CPU issues?
    Do you have a recommended system requirements?


    • Milan February 13, 2017 at 4:10 pm - Reply

      Hello Gary, I do not have experience with the other third party offline charts, so I cannot confirm whether they are lighter or heavier on the CPU. I often test the performance with about 50 naked offline charts open, on a cheap notebook (by cheap I do not mean obsolete).
      If you face performance issues with offline charts loaded by indicators, you might try to reduce the chart refresh frequency, as described in this post.

  17. billy cody March 9, 2017 at 2:19 pm - Reply

    is there a way to get 0.2 retracement mean renkos ?

    • Milan March 9, 2017 at 2:22 pm - Reply

      Hello Billy, could you point me to a definition, what the retracement mean Renko is?

  18. david May 17, 2017 at 11:21 am - Reply

    why wont my key register on my laptop? I bought the Omni and everytime I enter it on my mt4 platform its says next free period 45 days or so forth……

  19. Tan yu kim June 1, 2017 at 1:12 pm - Reply

    Hi admin ,

    I really like the renko bar that u guys design , just want to ask your opinion which is renko bar that u like the most. Because there are lot of different renko design that u have here

  20. Tan yu kim June 1, 2017 at 1:13 pm - Reply

    I m the student from spartan academy, so I can get discount from that

  21. John Morrison June 26, 2017 at 7:11 pm - Reply

    Hello Milan! I am extremely pleased with the ease of creating renko charts. Just to be absolutely sure that I correctly understand the proper setting for the size parameter, if I enter “50” , that represents 50 points = 5 pips and creates a 10 pip renko brick chart, y/n?

  22. Josh June 28, 2017 at 8:39 pm - Reply

    I have the H1 chart for USD/JPY open. I put the MeanrenkoBar on that chart and have the following setup:
    Step size- 100
    Session-Keep Continuous
    OFFLINE CHART- blank
    Set offline chart- 20
    Number of candles- 1000
    Paste activation code- my code pasted
    Avoid TF- WEEKLY
    Data Consistency Warnings-Muted

    It loads on the chart just fine. I change the 100 to 200, press enter, and click on the M20 to pull up the offline chart and get a screen that says “Waiting for Update.”

    What am I doing incorrectly in my setup?

    • Milan October 2, 2017 at 7:45 am - Reply

      Not sure, try to purge the history files and load new with LoadAllHistory script.

  23. Horace July 2, 2017 at 4:52 am - Reply

    Hello, How can I can download and install the Mean Renko Chart on a MacBook Air? Thanks in advance

    • Milan October 2, 2017 at 7:43 am - Reply

      Installing the MT4 addons on Mac is not in my experience scope, in general it must be uniform for all indicators, no exception for MeanRenko.

  24. Sanjay August 22, 2017 at 11:21 am - Reply

    Hello sir

    Can i use H1 chart insted of m1

    • Milan August 22, 2017 at 7:22 pm - Reply

      You may use any timeframe, the output is not affected by the source timeframe. You may also change the timeframe without any harm to the output offline chart.

  25. Shawn Marshbanks September 13, 2017 at 5:07 am - Reply

    is there a way to get a push notification for a renko bar close and a renko bar color change? thanks

    • Milan October 2, 2017 at 7:41 am - Reply

      Yes, you may use some indicator signalling the candle close with the push message. I prefer TalkToMe.

  26. Ebin September 23, 2017 at 12:36 pm - Reply

    Hello there.. How do get medianrenkochart_b574??
    So that I can adjust the retracement factor etc.

    • Milan October 2, 2017 at 7:40 am - Reply

      No idea what the name means, probably google helps better.

  27. Kay Street September 27, 2017 at 10:47 am - Reply

    I asked a qn last month ..kept checking and it wasn’t answered for weeks.
    Now I can’t even find it.
    Do unanswered qns expire?
    If i may ask again.
    Intermittently, the offline chart keeps freezing. I have to refresh the settings of the OmniaBar indicator of the feeder chart (M1).
    Only then does the offline chart (4) start to respond to price movement. FYI, I only have 2 charts open on the entire MT4 platform.
    Any way to fix this?

    • Milan October 2, 2017 at 7:39 am - Reply

      Hello Kay,

      I cannot tell you why it the offline chart if freezing in your particular case. I understand that the MT4 still remains responsive, so the problem is probably in viewing the incorrect offline chart. Try to add the OmniaRemote if it connects to the feed.

  28. Li Gee October 15, 2017 at 10:25 pm - Reply

    I just downloaded and the charts are saying offline and not responding

    • Milan October 17, 2017 at 11:39 am - Reply

      Hello Li, you seem you are posting at time when the market is closed.

  29. Li Gee October 15, 2017 at 10:26 pm - Reply

    Should there be an offline sloth. The video shows differently

  30. Li Gee October 15, 2017 at 10:34 pm - Reply

    Looks like it’s moving now 😀

  31. Marian November 15, 2017 at 11:34 am - Reply

    I would like to make an offset of 25 instead of 50%, is that doable?

    • Milan November 15, 2017 at 11:37 am - Reply

      Hello Marian, the custom offsets are available only in OmniaBar – the Flex Renko chart.

  32. Porscha January 2, 2018 at 6:57 am - Reply

    I followed the video to set the mean renko chart up, but when I clicked the template button, I didn’t have a ovo option to click to show the renko chart. Can you assist me with this issue please?

  33. Porscha January 2, 2018 at 2:03 pm - Reply

    It’s the offline chart. In the video, you clicked the template button and the last option was ovo chart to show the renko chart. The ovo template doesn’t appear in my template, so the renko chart isn’t showing. I can’t upload the white chart with the red and blue renkos on it. My screen still appears black with green bar graph. I see the website you suggested, but I’m having trouble just adding a simply template to my charts.

  34. vick April 13, 2018 at 5:31 pm - Reply

    I’m interested in purchasing the renko is it possible to add push notification alerts for when the bar changes color

    • Milan April 27, 2018 at 5:32 pm - Reply

      It is possible, but it needs to get implemented in an independent indicator. I cannot add more features to the generator itself, it would become over-complicated for the occasional user.

  35. mishu April 24, 2018 at 4:08 pm - Reply

    its possible to get period based renko? where renko is calculeated based on close of m1 m5 or m15 candle?
    similar to renko charts.?

    • Milan April 28, 2018 at 7:28 am - Reply

      You do not need to purchase this tool if you want the Renko chart, which depends on a particular timeframe. I guess that most Renko generators would work like this, but this is independent on the timeframe.

  36. ZAlbaFX May 31, 2018 at 4:25 pm - Reply

    Is it possible to offset by 25% instead of 50% using this?

    • Milan May 31, 2018 at 4:55 pm - Reply

      Unfortunately no, you would need OmniaBar for setting the custom size.

  37. Daniel June 24, 2018 at 7:18 am - Reply

    How can i get to use the software

  38. Daniel June 24, 2018 at 7:19 am - Reply

    How much is the software

  39. Joyce Gaines October 28, 2018 at 8:37 pm - Reply

    Hello I am new to renko. I want to put the mean renko on my mt4. I have jafx as my broker. I only want to trade US30. Is that possible?

Leave A Comment

Spam Blocking by WP-SpamShield