Ultimate Renko plug-in for Metatrader 4

A better kind of renko and possibly the best charting package for scalping, swing and day trading.

The ultimate All-In-One renko package (an upgraded version of the MedianRenko plug-in) is a robust version of the regular renko chart that enables various charting types to be created and is essentially the only renko plug-in that you will ever need. You will find all of the features found in the logik ultimate renko configuration for Metatrader.

All charts can be shown with or without wicks and the user has full control over the bar size, trend bar size, reversal bar size plus the offsets of the individual bar’s opening price relative to the previous bar’s closing price. These powerful settings will enable you to create all of the well-known renko variants such as the median renko (a.k.a. mean renko or better renko), turbo renko, hybrid renko, renko, vanilla renko, PointO as well as any other renko type chart you can think of. Examples of some of the most popular charts available via presets are showcased below:

Median Renko chart
Preset: Median Renko
(overrides the defaults for the inputs shown below with:)
Open offset % = 50
Reversal Open offset % = 50
Reversal bar size % = 150
Show wicks = true

Renko chart
Preset: Renko
(overrides the defaults for the inputs shown below with:)
Open offset % = 0
Reversal Open offset % = 100
Reversal bar size % = 200
Show wicks = true

Turbo Renko chart
Preset: Turbo Renko
(overrides the defaults for the inputs shown below with:)
Open offset % = 75
Reversal Open offset % = 25
Reversal bar size % = 125
Show wicks = true

Hybrid Renko chart
Preset: Hybrid Renko
(overrides the defaults for the inputs shown below with:)
Open offset % = 75
Reversal Open offset % = 75
Reversal bar size % = 175
Show wicks = true

PointO chart
Preset: PointO
(overrides the defaults for the inputs shown below with:)
Open offset % = 0
Reversal Open offset % = 0
Reversal bar size % = 100
Show wicks = true

Custom renko chart
Settings for the custom renko chart with full reversal bar example:
Preset: No
Open offset % = 0
Reversal Open offset % = 0
Reversal bar size % = 200
Show wicks = true

UniRenko chart

Preset: UniRenko (Universal Renko)
Use the UniRenko to UltimateRenko converter for settings.

The formula for calculating the correct Ultimate Renko settings from NinjaTrader’s UniRenko settings is presented here: https://www.az-invest.eu/how-to-clone-the-settings-from-unirenko-to-ulitimate-renko

Ultimate Renko plug-in highlights

What makes this product the only renko plug-in you will ever need for your Metatarder terminal

Adapts to changing market conditions

The size of the renko bricks can be manually set to any value that you feel comfortable trading with, or can be fully adaptive to changing market conditions thanks to the unique ATR driven bar size calculation that uses a user definable percentage of the daily ATR value.

Smooths out indicator readings

In general, ultimate renko charts are smoother looking, precisely indicate the session’s exact highs an lows, plus make indicator readings a lot smoother. You may find this new charting type to be the perfect balance between traditional renko an range charts.

Backtests with 99% modeling quality*

Backtesting of EAs on all charts created by the ultimate renko plug-in is possible using the proprietary CSV2FXT script (available only on the PRO MT4 version). The script is used to create binary HST & FXT files for renko charts from CSV text files with tick data.

Offers various ways of synchronizing your charts

The plug-in offers three settings that may be used to synchronize your charts so they stay the same each time you restart your terminal. This is also very important, if you wish to run the same settings on several terminals. The recommended method for synchronization is to utilize the “ResetOpenOnNewTradingDay” setting, but you may use “StartFromBar” or “useFirstRenkoPipOffset” settings instead.

Provides consistent values for the trading day

The ultimate renko plug-in offers an optional feature, which ensures daily (or session) reference consistency by resetting the bars OPEN value on each new trading day. This keeps the daily open, low, high and close values consistent with the actual daily candle values, which is very useful when you trade stocks, indexes or just wanting to see the weekend gap (and all daily gaps) clearly visible on your charts.

*) Backtesting procedure requires the PRO version of Ultimate Renko plus a licensed version of Tick Data Suite or Tick Story.

Metatrader 4 specifc features of the Ultimate Renko plug-in

Create live custom renko charts on MT4 for manual or automated trading via EAs

Highly optimized C++ engine for calculation of renko bars. Plug-in remains stable even in fast moving markets (i.e. during news releases).
Compatible with all of the latest MT4 builds and all Metatrader4 brokers.

Ensures compatibility with Windows (WindowsXP and up), MacOS (PlayOnMac) & Linux (PlayOnLinux).

Bundled with MedianRenkoChart_info indicator, which displays the High and Low thresholds for the current bar, bar size information and provides optional sound and/or alert popup on bar close.
Plug-in supplied as indicator compilation – setup several renko charts from a single 1M chart.
One time only low price payment (zero ongoing charges).
Free lifetime updates (via online updater).
Instant download after purchase.
Full documentation included.

Regular pricing options

Trial Version

$0

Free 7 day trial

Download

Standard version

  • Metatrader4 version

  • Activation on 3 computers
  • –
  • Free Updates

$45

One time payment only!

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PRO version

  • Metatrader4 version

  • Activation on 5 computers
  • Includes CSV2FXT custom script
  • Free Updates

$65

One time payment only!

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Metatrader 5 version

The renko plug-in for MT5 can be purchased and downloaded directly from the MQL5 Market or from our website.

See MT5 product page for details...

The Lite & Ultimate version of the indicator for Metatrader 5 designed for Brazilian markets is available here.