Renko Range Detector

• Detects and displays the fixed size of the Renko Bar/Candle range.
• Fast and easy identification of chart parameters facilitates trading efficiency.

Note: This indicator is intended for use with Renko Bars/Candles, not Standard Bars/Candles.

1. Renko Bars/Candles all have the same fixed range value from open to close..
2. Note for newbies: A Renko offline charts is generated from a Scripts, or Indicators, or Expert Advisor running on a M1 chart
3. Abundant additional information is available on the internet.

Renko Range size calculation: Open - Close for down bar and Close - Open for up bar.

Gold. M3(offline): 1203.0 - 1201.5 = 1.5

Problem: No Ticks !

1. Often the Renko offline chart is created by an EA.
2. EAs rely on ticks and when markets are closed there are no ticks.
3. With no ticks Renko charts will not update to new range sizes and other inputs.

Solution: a Tick Generator - FREE - HERE . Also helps when testing in quiet - tick scarce - markets.

Parameters:

• Text - Renko;
• Font_Color - DodgerBlue;
• Font_Size - 11;
• Font_Bold - true;
• Left_Right - 25;
• Up_Down - 150;
• Corner - 1;