RenkoFromRealTicks DEMO

RenkoFromRealTicks DEMO is a unique non-trading expert that uses custom symbols feature to construct Renko charts based on real tick history of a standard symbol. This innovative Forex tool is designed to offer a detailed and accurate Forex analysis, making it an essential part of any trader’s Forex trading software.

Customized Renko Charts

The key feature of RenkoFromRealTicks DEMO is its ability to generate custom symbol quotes. This provides the flexibility to open multiple charts and apply different EAs and indicators to the Renko. The software also transmits real ticks to update Renko charts in real time, providing up-to-date charts for accurate trading analysis.

Functionality and Limitations

This demo version of RenkoFromRealTicks is functionally limited and works exclusively on EURUSD. It uses the M1 timeframe for the generated Renko chart, and it is not recommended to switch the Renko chart to a timeframe other than M1. Despite these limitations, the RenkoFromRealTicks DEMO remains a useful tool for Forex traders.

Setting Up RenkoFromRealTicks DEMO

Upon its placement on a chart, RenkoFromRealTicks DEMO starts downloading tick history and generates Renko bars for the custom symbol. This process can be time-consuming and may require additional disk space. However, the EA displays the progress in the comment, providing users with a real-time update about the procedure.

Unique Feature: Volume Delta per Box

The unique feature of RenkoFromRealTicks DEMO is the volume delta per box. Since MetaTrader does not support negative volumes, the delta is encoded in a special way. To view it, users will need the free CustomVolumeDelta indicator.

Parameters of the RenkoFromRealTicks DEMO

The RenkoFromRealTicks DEMO has several parameters that users can adjust to suit their needs. These include RenkoBoxSize, which is the box size in points; ShowWicks, a feature that can be enabled or disabled to show wicks on Renko; and EmulateOnLineChart, which can be enabled or disabled for tick emulation on Renko charts. The OutputSymbolName parameter allows users to name the custom symbol for Renko.

Independent Testing and Updates

For those interested in independent testing of RenkoFromRealTicks DEMO, forexroboteasy.com provides a platform for such testing. Users can also subscribe to updates on the results of testing this product, ensuring they are always up-to-date with the latest features and improvements.

FAQ Section

Is RenkoFromRealTicks DEMO suitable for all types of traders?
Yes, both experienced and novice traders can benefit from using this tool in their Forex analysis.

Does the RenkoFromRealTicks DEMO work in the tester?
No, the RenkoFromRealTicks DEMO cannot work in the tester as it uses CustomSymbol API, which is unavailable in the tester.

What is the purpose of the OutputSymbolName parameter?
The OutputSymbolName parameter allows users to name the custom symbol for Renko, offering a more personalized trading experience.

In conclusion, we invite all users to share their experiences of using RenkoFromRealTicks DEMO and contribute to the community of traders seeking to improve their Forex trading strategies.