The NRTR Moving Average from Konstantin Kopyrkin for trailing stops and trends display. Dotted line is the upper and the lower boundaries of the channel (bricks). Solid lines are support/resistance lines.
The restriction on the minimum thickness of the brick (field WideMin eliminates false switching to thin market) and judging by the standard deviation are added.
Also display of the trend determined by the logic of the author (support/resistance) is added.
Restriction on the minumum thickness allows using a fixed thickness as in a classic Renko (brick = 4 pips).
It should be noted that the indicator depends on the starting point of its calculations and if, for example, the maximum number of bars in the window in the terminal settings is changed, then the location of the indicator on the chart will change!
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 05.04.2010.
MT5 Indicator – Download Instructions
AdaptiveRenko is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
AdaptiveRenko provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install AdaptiveRenko.mq5?
- Download AdaptiveRenko.mq5
- Copy AdaptiveRenko.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on AdaptiveRenko.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator AdaptiveRenko.mq5 is available on your Chart
How to remove AdaptiveRenko.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: