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RenkoChart by Paulo Henrique

Find the Right Edition That Fits You
Scalperology Ai MT5
Global
Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
30-Day Profit: 0%
7-Day Profit: 0%
Support: 24Ρ…7 via Telegram
Try it FreeπŸ€
Breakopedia Ai MT5
Global
Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
XAU/USD
XAG/USD
XBT/USD
30-Day Profit: 0%
7-Day Profit: 0%
Support: Developer
Test it FreeπŸš€

Overview of Renko Chart by Paulo Henrique

  • The Renko Chart tool is a versatile indicator designed for MetaTrader 5, developed by Paulo Henrique.
  • This innovative tool creates custom symbols with Renko bricks directly on the chart.
  • Each brick accurately reflects prices at their respective opening time, allowing traders to apply any additional indicator seamlessly.
    • 🎨

    Key Features

  • High Accuracy: Offers up to 95% accuracy for small Renko bricks (5R) and 100% accuracy for larger bricks (from 10R).
  • Real-Time Data: Utilizes trading ticks received from the platform in real-time for chart generation during trading hours.
  • Historical Data Access: Provides access to historical brick data via standard MQL5 methods like iOpen, iHigh, iLow, and iClose.
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    Chart Generation Process

  • Initialization Time: The time required to generate a Renko chart can vary based on the number of bars on the 1-minute chart and the brick size.
  • Instant Generation for Larger Bricks: For bricks larger than 5R, the Renko chart generation is nearly instantaneous.
  • Customization: Allows adaptability for synthetic symbols, although it may require additional steps for setup.
    • βš™οΈ

    User Feedback

  • Users have praised the tool for its simplicity and effectiveness, making it a preferred choice for visualizing market data.
  • One user mentioned "This is a gem! Exactly what I needed!" reflecting the positive reception of the tool in the community.

    • Market Adaptability

  • Compatible with all major forex pairs, allowing flexibility across various market conditions.
  • Ideal for traders who prefer a brick-based approach to analyzing price movements without the noise typically seen in candlestick charts.
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