Handy Renko Chart

Handy Renko Chart

This indicator creates a Renko-based custom symbol in MetaTrader 5.

Renko charts are built using price movement only, not time, making them useful for analyzing trends and filtering noise.

Features

• Customizable brick size in points.

• Option to calculate brick size using ATR (adaptive).

• Ability to show or hide wicks.

• Creates and updates a custom Renko chart symbol.

• Automatically opens the chart window (optional).

• Maintains a limited bar history for performance.

Inputs

• BrickSizePoints – brick size in points.

• UseATR, ATRPeriod, ATRMultiplier – ATR-based brick calculation.

• UseWicks – enable/disable wick display.

• OfflinePrefix – prefix for the generated Renko symbol.

• OpenOfflineChart – open chart window automatically.

• MaxBarsToKeep – maximum bars to store in history.

Usage

1. Open an M1 chart of the symbol you want to convert.

2. Attach the indicator to the chart.

3. A new symbol will appear in Market Watch (e.g. RENKO_EURUSD_100 ).

4. Open the Renko chart (it can also open automatically).

5. Apply any indicators or Expert Advisors to the Renko chart for further analysis.

Notes

• This tool only generates charts.

• It does not open, close, or manage trades.

• Intended for chart analysis or as a base for strategy development.