Hey traders! If you’re looking to level up your trading game, Renko charts are a fantastic tool to consider. These charts are unique because they’re built on custom symbols, allowing you to visualize price movements without the noise of time.
With our handy EA (Expert Advisor), you can effortlessly create these custom symbols. The beauty of this system is that it operates on tick history, which means it utilizes tick and real volume data whenever available. You can choose to base your Renko chart either on the Last price or the Bid price, giving you flexibility in how you analyze the market.
Now, let’s talk about real-time functionality. When your EA is running, the chart updates in real-time, which is crucial for making informed decisions. And here's a pro tip: the obtained symbol can be used in the tester, but just keep in mind that it works best on Open prices and every tick.
Important note! For the best results, make sure to display your Renko chart on the M1 timeframe only. This is where it shines!
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