Renko Scalping Indicator: Virtual Bricks On A Time Chart

Written by Dominic Walsh · Published 8 Jul 2026 · Last updated 18 Sep 2026

The renko scalping indicator gives you brick logic without changing charts. It builds a virtual brick stream from closing prices while you stay on a normal time chart. When a brick of the opposite colour closes, the bar carrying that reversal gets a mark.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	4: Renko Up, Renko Down, BUY, SELL
Alerts	popup, push notification, email, sound
Inputs	9

Drawn output, plot by plot

Renko Up is the dodger blue line tracking the brick level while bricks rise.

Renko Down is the tomato line for the falling case.

BUY and SELL mark the first time bar where a brick reversed.

Marks sit `ArrowOffsetPts` `30` from the candle.

• Renko Up: line, dodger blue, width 2
• Renko Down: line, tomato, width 2
• BUY: arrow, lime, width 2, arrow code 233
• SELL: arrow, red, width 2, arrow code 234

How the Renko scalping Indicator does its maths

Building the bricks

g_brick takes `BrickSizePips` `10.0` converted to price. The stream starts from the oldest close and steps whenever price travels a full brick. A reversal needs two bricks, which is standard renko behaviour.

Mapping back to time bars

Each time bar records the brick level current at its close. So the two plotted lines follow the brick stream while sitting on ordinary candles. That mapping is what lets the tool run without a renko chart.

Locking the signal

A mark appears on the first bar where a reversal brick closes. `ConfirmBars` `1` sets how many closes confirm it. Once a brick closes the signal locks, which is where the non-repaint claim comes from.

How to take it

The lines step rather than slope, because bricks move in fixed increments.

Long flat stretches mean price has not travelled a full brick.

A reversal needs two bricks of movement, so marks are less frequent than they look.

`BrickSizePips` is the setting that changes everything here.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

`EnableAlerts` starts on with `EnablePopup`, `EnablePushNotify` and `EnableSound` all true, while `EnableEmail` begins false. `SoundFile` picks the clip. A brick closes on a completed bar, one message per bar.

Every Renko scalping Indicator input

Core settings

Setting	What it does	Default
BrickSizePips	Renko brick size in pips. Brick height in pips, default `10.0`.	10.0
ConfirmBars	close confirmation bars. Closes that confirm a reversal, default `1`.	1

Display settings

Setting	What it does	Default
ArrowOffsetPts	arrow vertical offset (points). Mark distance from the candle in points, default `30`.	30

Alert settings

Setting	What it does	Default
EnableAlerts	master alert switch. Master switch for the brick reversal alerts, default `true`.	on
EnablePopup	popup alert. Terminal dialog on a brick reversal, default `true`.	on
EnablePushNotify	mobile push. Phone push on a brick reversal, default `true`.	on
EnableEmail	email alert. Mail delivery on a brick reversal, default `false`.	off
EnableSound	sound alert. Sound playback on a brick reversal, default `true`.	on
SoundFile	Wav clip for the brick alert, default `alert.wav`.	alert.wav

Choosing well

Brick size decides everything, and it has to suit the instrument. EURUSD H1 is the reference chart, where ten pips is a sensible brick. On M5 the same size produces long flat stretches. On gold ten pips is far too small and needs raising sharply.

The catch

Bricks built from closes ignore what price did inside a bar.

A fixed pip brick suits one instrument and fails on the next.

Renko removes time, so a mark says nothing about how long the move took.

Copy the compiled Renko scalping Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Background reading on the method behind the Renko scalping Indicator: Accelerated Return Note on Wikipedia, Dow Jones Breadth Indicators at StockCharts ChartSchool.

Download the Renko scalping Indicator for MT4 and MT5

The zip holds the compiled Renko scalping Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What does BrickSizePips at 10.0 set?

How far price must travel before a new brick forms. Ten pips suits EURUSD reasonably. On an instrument with much larger ranges the stream would produce a brick almost every bar, so raise it accordingly.

Why does BrickSizePips need two bricks to turn?

That is standard renko behaviour. Continuing the current direction needs one brick of travel, but turning needs two, since the stream has to cover the current brick and then build one the other way.

Do I need a renko chart to use this?

No, and that is the point. The stream is virtual, built from closes on whatever time chart you attach it to. The two plotted lines then show brick levels while the candles stay normal.

What does ConfirmBars at 1 add?

One closed bar of confirmation on the reversal. Raising it demands more closes before the mark appears, which delays the signal. At `1` the mark lands on the first bar where the reversing brick closed.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Renko scalping Indicator as one input. Always backtest before trading live.