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The Renko price chart representation is the best way to eliminate the market noises and therefore offer a clear view of the price direction.

Trend continuation, pullbacks and market ranges are thus easily spotted with our exclusive Renko bricks price representation.

New renko bricks are constructed in real time and only if the price makes sufficient moves to build them.

Our Renko indicator for ProRealTime is more than just a single price representation, it includes 3 types of renko bricks construction:

  • Classic Renko
  • Median Renko
  • Point-O Renko

In addition, the PRT Renko indicator offers many different options to make it a complete standalone tool without any needs of complementary indicators, learn more in the full description below.

Our renko indicator is the best companion for all price action and trend following traders!

(include also a free product to download in your account after purchase).

documentation is included as a downloadable file after purchase.

 

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Updates / Changelog:

v3.2 – 01/13/22 (current version)

_ Renko Size in percentage of price for universal size across different assets.

NEW settings:

> RenkoSizePercent (activate the option)

> SizePercent (set the percentage of current price to define the brick size, default is 0.5%).

v3.0 – 12/02/21

_ indicator now can use a couple of 2 EMA (set periods with MAperiod1 and MAperiod2)

_ MAcolor changes 1=both EMA are white ; 2=both EMA are black ; 3=EMA are red/green

v2.2 – 09/07/21 _ fix rounding calculation of ATR size for specific cases (forex pairs, ..).

v2.1 – 08/30/21 _ fix HighLow prices miscalculation with Median & PointO

hq_Renko version 2.0 / 08/05/21
_ added ATRsize & ATRperiod option: create renko bricks dynamically with ATR of defined period
_ added PriceHighLow setting: algorithm is using High/Low prices instead of classic Close to create new brick (no repaint)
_ VolumeWeighted fix/improvments when no Volumes is present

 

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The particularity of our indicator is the way the renko bricks are built.

In an ordinary renko chart, bricks are built with a fixed price change in one direction or the other.
With Renko for ProRealTime, you can choose the default size of a brick and 2 different thresholds for displaying a new bar in one direction or the other.

In fact, to eliminate the noise of the market, one can choose if the contrarian brick in a trend will measure the same size as that which will mark its continuity.

Example:
If the chosen brick size is 5 points, with a continuation of 100% and a reversal of 150%, then in a trend already established, it will be necessary that the price will return of 7.5 points (5pts * 150% = 7.5pts) for an inverse brick to appear, while it only takes 5 points for a brick of continuity (of the same color) to be created.

This has the effect of considerably clarifying the price reading, especially in intraday charts, but also in larger timeframes, see by yourself:

renko bricks examples

The hqRenko indicator is compatible with all its settings with any instrument and timeframe

The higher high and lower low are thus much easier to find and it is easier to trace its lines of tendencies, or support and resistance!

Available possibilities:

  • Define the box size in pips/points
  • Define the box size with a percentage of current price (universal size across different assets)
  • Define the box size dynamically with ATR (automatically adapt to market volatility) – NEW!
  • Choose price High / Low to build renko bricks instead of Close of current chart – NEW!
  • Change the continuing and reversal offset to build your own custom chart
  • Apply 2 Exponential Moving Average (of choosable period) to the renko chart – NEW!
  • Auto detection of support / resistance area zones
  • Modify the renko bar width
  • Show / hide the renko wicks
  • Show / hide the real price value
  • Change on the fly the renko type (classic, median, point-o): all with adjustable continuing/reversal percentage
  • Apply a Volume weighted filter (with choosable weight) in order to remove the price movement without insignificant volumes
  • Choose from 3 different color schemes

Why our renko indicator is more powerful than the default ProRealTime one?

Because you can build your own custom charts and make trading less stressful by eliminating the market noises, look at a comparison:

renko without noises

Because you can use the support and resistance built-in feature to easily spot the potential reversal and breakout zones:

renko help makes profit

Because you can weight the construction of bricks with Volumes:

renko with volumes weighting

Because you can set charts with bricks built upon ATR value (dynamic sizing reflect market changes in real time!)

ATR renko chart for PRT

Because of many more other reasons, see by yourself in these multiple examples:

What is Median Renko bars?

The Median Renko bar is also known as Mean Renko.

The main difference between the median Renko bars and traditional Renko bars is based on the fact that the midpoint of price is used as a reversal rather than price moving ‘x’ points from the previous closing Renko brick.

median renko prorealtime

What is Point-O Renko bars?

The Point-O bars does not ignore the sideways movement of the price. Unlike traditional range bars, Point-O bars hold the range from open to close at a constant level. They only require the price to retrace to the original open value of the previous bar in order to form a new bar. This form of charting makes it very easy to spot strong support & resistance levels and simplifies catching of reversal points.

renko sideways market

Renko ProRealTime will benefit of updates to add more options in the futures (free of charge and included in the lifetime licence). All our products benefit from technical support during office hours.

The installation of the products is fast and easy thanks to the ProRealCode marketplace interface. Get your license instantly after purchase and install the product in less than 2 minutes.

 

5 reviews for Renko ProRealTime – better market reading for all traders

  1. andyclark (verified owner)

    Very smart and effective indicators. I like the clarity of the Renko Bars and the flexibility.

  2. philippe MENDEZ (verified owner)

    Très complet

  3. Life (verified owner)

    Congrats to seller for making this easy-to-use indicator. Its an excellent indicator to read the market properly. There is no other indicator needed because it includes moving average, ATR, Volume, and much more. Seller is also very responsive to my questions.

  4. u_schubart (verified owner)

    Trade the thrend with the MA wait for green brick and let it ride.
    No trend ? no problem use the S/R option to find the lower part of the range, wait for green brick and let it ride.
    This is how i use it with the median renko.

  5. Vinnie Dawson (verified owner)

    I’ve just tried it on bitcoin and forex and it works great in all configurations. the support and resistance mode looks really effective, I can’t wait to try it on other markets. good product and not expensive, congratulations to the author.

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