Summary of 📥 Renko Chart indicator for MT4&5 Download - Free download - [TradingFinder]
The video presents the Renko Chart indicator available for download on the TradingFinder website, compatible with MetaTrader 4 and MetaTrader 5 platforms. It explains how to install and use the indicator effectively to analyze market trends.
Main Financial Strategy / Business Trend:
- The Renko indicator is used to identify bullish and bearish trends in the market by filtering price movements based on pip values rather than time intervals.
- It helps traders visualize market trends clearly by reducing noise and focusing on significant price movements.
Methodology / Step-by-Step Guide:
- Download the Renko indicator file from the TradingFinder website.
- Open MetaTrader 4 or 5 and locate the indicator in the Navigator section.
- Drag and drop the indicator onto the desired chart.
- Enable the “Allow DLL Imports” option in the command section and confirm.
- The indicator will display a histogram window below the price chart showing trend strength.
- Input the desired pip value (default 50 pips) which defines the size of each Renko box.
- Set the reversal period to control the sensitivity of trend changes:
- Increasing the reversal period results in fewer, more unified trends.
- Decreasing it causes more frequent trend reversals and noise.
- Adjust these settings based on trading preferences to better capture market trends.
Presented by:
- TradingFinder (no individual presenter named)
Notable Quotes
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Category
Business and Finance