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Real Renko Chart Forex Indicator

    This is a real Renko candlestick indicator for Metatrader 4 that can be used on live Forex charts.

    It delivers buy & sell signals.

    The indicator draws 2 colored Renko candlesticks: gray and red.

    Gray candlesticks suggest an uptrend, red candlestick suggest an downtrend.

    You can combine this indicator with other analysis tools/indicators to build a complete trading strategy or Forex system.

    Trading Signals

    Buy signal: Look for buy signals at any gray Renko candlestick (up trend)

    Sell signal: Look for sell signals at any red Renko candlestick (down trend)

    Indicator Preferences

    Currency pairs: any

    Time frames: any

    Trading sessions: any


    Download the RenkoColorBars1.ex4 indicator.

    Configurable Indicator Options

    Colors, method, filter,…

    GBP/USD M1 Chart Example


    How to install the Real Renko candlestick custom indicator in Metatrader 4?

    • Download the RenkoColorBars1.ex4 indicator to your computer.
    • Open your Metatrader 4 platform.
    • Open the data folder from the top menu.
    • Open the MQL4 folder.
    • Open the indicators folder.
    • Paste the indicator file in this folder.
    • Restart the trading platform.
    • Open any trading chart.
    • Attach the indicator to the chart.