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When it comes to analyzing financial markets and making trading decisions, the choice of chart type can play a crucial role. Two popular types of charts that traders often use are Renko charts and candlestick charts. Both of these charting methods have their unique strengths and weaknesses. In this article, we’ll delve into the world of Renko and candlestick charts, comparing their features, benefits, and drawbacks to determine whether Renko is truly better than the traditional candlestick.

In the world of technical analysis, traders have numerous chart types at their disposal. One such chart type that has gained popularity among traders is the Renko chart. Renko charts are known for their simplicity and ability to filter out market noise, making them a valuable tool for both beginners and experienced traders alike. However, ...

This is a quick “how-to” guide to backtesting EAs on a renko chart created as a Custom Symbol on Metatrader 5. You can generate renko charts for backtesting using the Renko Generator for Metatrader 5.

The settings

When you start the renko generator (Renko GenX) EA, you need to make sure that you use the following settings (outlined in red). All of ...

The latest MT4 version 4.00 Build 574 (10 Jan 2014) introduces a lot of new features and improvements for the old MT4 platform, however, there will be certain compatibility issues with EAs and indicators written for previous builds (i.e. Build 509 back from June 24th, 2013). Users should also be aware that the location of the old “experts” folder has been moved to a new location. Previously, all MQL4 applications have been stored in subdirectories of the “<terminal_installation_folder>\experts” folder and ...