RenkoFromRealTicks

RenkoFromRealTicks, a non-trading expert, utilizes the unique feature of custom symbols to provide a reliable platform for Forex trading. With its capabilities of building renko charts based on the history of real ticks of selected standard symbol, the software has revolutionized the approach towards Forex market analysis.

Custom Symbol Generation and Real-Time Updates

The software generates custom symbol quotes allowing you to open various charts and apply different EAs and indicators to the renko. RenkoFromRealTicks transmits real ticks to update renko charts in real-time, providing an added edge to your currency trading strategies. The generated renko chart operates on M1 timeframe, and it’s recommended not to switch the renko chart to a timeframe other than M1.

Understanding the Renko Chart Timeframe

The start time of a “minute” bar corresponds to the start time of renko box. The end time, however, is a dummy as MetaTrader doesn’t allow for bars with different durations. Instead, users should focus on the start time of the next “minute” bar. The software also provides an option to enable markup of the boxes by close time.

Process of Renko Bar Generation

After being placed on a chart, RenkoFromRealTicks gets to work by downloading tick history and generating renko bars for the custom symbol. This can take a bit of time and may require additional disk space. The progress is shown in the comment, and once the process is finished, a comment is displayed indicating the completion of the process.

Unique Volume Delta Feature

One unique feature of RenkoFromRealTicks is the volume delta per box. This delta is encoded in a special way as MetaTrader does not support negative volumes. To view this, you’ll need the free CustomVolumeDelta indicator.

Parameters of RenkoFromRealTicks

The software comes with several parameters to customize its operation. These include RenkoBoxSize, which sets the box size in points, and ShowWicks, which enables or disables wicks on renko. It also has a parameter called EmulateOnLineChart that allows for tick emulation on renko charts, updating indicators and other EAs on backtests and online. Another parameter is OutputSymbolName, which sets the name of the custom symbol for renko.

FAQs

Is RenkoFromRealTicks suitable for beginner traders?

Yes, RenkoFromRealTicks is user-friendly and suitable for both beginners and seasoned Forex traders.

Does RenkoFromRealTicks work in the tester?

No, the RenkoFromRealTicks utility does not function in the tester.

Where can I watch independent testing of RenkoFromRealTicks?

Independent testing of the product can be watched on the forexroboteasy.com website. You can also subscribe to updates on the results of product testing.

We invite you to share your experience of using RenkoFromRealTicks. This detailed review is independent and is not affiliated with the product. It is always beneficial to learn from the experiences of other users to make the most informed decisions in your Forex trading journey.

RenkoFromRealTicks stands out in the Forex software market with its unique features and user-friendly interface, providing an effective tool for Forex market analysis.