Renko Level – indicator for MetaTrader 5
The indicator displays the Renko bars on the MetaTrader 5 chart.
The calculation of the nearest border is as follows:
For the current price three price levels are calculated:
In this case, the distance between “price_ceil” and “price_round” and the distance between “price_round” and “price_floor” is equal to the size of the “brick”. The size of the brick is set in the input parameter “InpSize“.
If you want to clearly see the price, then turn on the “Chart in foreground”:
After that the price will be on top of the “bricks”: