Forex Renko Range Detector Indicator
Forex Renko Range Detector Indicator:
- Detects and displays the fixed size of the Renko Bar/Candle range on the Renko offline chart.
- 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.
- Renko Bars/Candles all have the same fixed range value from open to close..
- Note for newbies: A Renko offline charts is generated from a Scripts, or Indicators, or Expert Advisor running on a M1 chart
- Abundant additional information is available on the internet.
Renko Range size calculation: Open – Close for down bar. Close – Open for up bar.
What does Forex Indicator mean?
A forex indicator is a statistical tool that currency traders use to make judgements about the direction of a currency pair’s price action. Forex indicators come in many types, including leading indicators, lagging indicators, confirming indicators and so on. Popular forex indicators include moving averages, relative strength index (RSI) and average true range (ATR). A forex trader must choose the indicators that fit his or her trading strategy.
How to install Forex Renko Range Detector Indicator?
- Download Forex Renko Range Detector Indicator.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex indicator
- Load indicator on your chart
How to uninstall Forex Renko Range Detector Indicator?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.