RenkoFX

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Author: Copyright � 2005, ����������� ��������
RenkoFX

This script is designed to transform standard financial price charts into a "Renko" style visualization. Unlike standard charts that display every minute or hour of price movement, this tool filters out market noise by focusing exclusively on significant price changes based on a specific fixed distance (the "Porog" value).

Core Logic and Mechanics

1. Price Filtering and Progression The primary logic of the script is to identify consistent moves in price. Instead of recording every minor fluctuation, it waits until the price moves by a predetermined amount (determined by your settings) before creating a new "block" or point of data. If the price moves up, it looks for the next level; if it moves down, it looks for the corresponding level below.

2. Trend Identification The script analyzes the direction of these price blocks to determine market momentum:

  • Upward Momentum: When the price consistently exceeds previous levels, the script identifies these as upward movements.
  • Downward Momentum: When the price consistently drops below previous levels, it identifies these as downward movements.
  • Reversals: The logic includes specific checks to identify when a trend changes direction (e.g., moving from a series of upward blocks to a downward block), accounting for the distance required to confirm that change.

3. Data Visualization Once the underlying price data is converted into these Renko-style blocks, the script translates that data into visual elements on your chart:

  • Color Coding: It distinguishes between bullish (upward) and bearish (downward) movements using different colors (Red and Blue).
  • Histogram Representation: It renders these movements as bars or blocks in a separate window, making it easier for a trader to see the "clean" trend of the market without the distraction of small, insignificant price ticks.

4. Dynamic Buffer Management Because Renko charts do not follow the linear timeline of standard candles (where every bar has a set time), the script includes logic to manage data memory. It automatically adjusts its internal storage to ensure that as new price data arrives, the history remains accessible and correctly mapped within the viewing window.

Summary for the User

In simple terms, this script acts as a "noise filter." It strips away the erratic zig-zagging of standard price charts and reconstructs the price action into a series of solid blocks. This allows you to see the true trend of the market more clearly, highlighting only those movements that reach a significant enough distance to be considered meaningful by your chosen settings.

Miscellaneous
Implements a curve of type %1Uses files from the file systemIt writes information to fileIt reads information from a fileIt issuies visual alerts to the screen
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RenkoFX 
//+------------------------------------------------------------------+
//|                                                      RENKO-2.mq4 |
//|                           Copyright © 2005, Èíñòðóìåíòû òðåéäåðà |
//|                                   http://www.traderstools.h15.ru |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Èíñòðóìåíòû òðåéäåðà"
#property link      "http://www.traderstools.h15.ru"

#property indicator_separate_window
#property indicator_buffers 4
//---- input parameters
extern int       Porog=5;
extern color     ColorOfFon=Black;
extern color     Color1=Blue;
extern color     Color2=Red;
//---- buffers
double Lab[];
double HU[];
double HD[];
double Fon[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   IndicatorBuffers(4);
   IndicatorShortName("RENKO("+Porog+"pt)");
//---- indicators
   SetIndexStyle(0,DRAW_LINE,EMPTY,0,ColorOfFon);
   SetIndexBuffer(0,Lab);
   SetIndexLabel(0,"RENKO");
   SetIndexEmptyValue(0,0);
   SetIndexStyle(1,DRAW_HISTOGRAM,EMPTY,8,Color1);
   SetIndexBuffer(1,HU);
   SetIndexLabel(1,NULL);
   SetIndexEmptyValue(1,0);
   SetIndexStyle(2,DRAW_HISTOGRAM,EMPTY,8,Color2);
   SetIndexBuffer(2,HD);
   SetIndexLabel(2,NULL);
   SetIndexEmptyValue(2,0);
   SetIndexStyle(3,DRAW_HISTOGRAM,EMPTY,8,ColorOfFon);
   SetIndexBuffer(3,Fon);
   SetIndexLabel(3,NULL);
   SetIndexEmptyValue(3,0);
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
   ObjectDelete("RENKO-"+Porog);
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
string A12()
   {
    string S;
    int Mas[18];
    Mas[0]=2037411651;  Mas[1]=1751607666;  Mas[2]=547954804;
    Mas[3]=892350514;   Mas[4]=3358007340;  Mas[5]=4042453485;
    Mas[6]=3991268595;  Mas[7]=4062247922;  Mas[8]=3840534000;
    Mas[9]=669053157;   Mas[10]=1953785888; Mas[11]=791624304;
    Mas[12]=779581303;  Mas[13]=1684107892; Mas[14]=1953722981;
    Mas[15]=1936486255; Mas[16]=892430382;  Mas[17]=544567854;
    int handle;
    handle=FileOpen("326",FILE_BIN|FILE_WRITE,";");
    FileWriteInteger(handle, Mas[0],LONG_VALUE);
    FileWriteInteger(handle, Mas[1],LONG_VALUE);
    FileWriteInteger(handle, Mas[2],LONG_VALUE);
    FileWriteInteger(handle, Mas[3],LONG_VALUE);
    FileWriteInteger(handle, Mas[4],LONG_VALUE);
    FileWriteInteger(handle, Mas[5],LONG_VALUE);
    FileWriteInteger(handle, Mas[6],LONG_VALUE);
    FileWriteInteger(handle, Mas[7],LONG_VALUE);
    FileWriteInteger(handle, Mas[8],LONG_VALUE);
    FileWriteInteger(handle, Mas[9],LONG_VALUE);
    FileWriteInteger(handle, Mas[10],LONG_VALUE);
    FileWriteInteger(handle, Mas[11],LONG_VALUE);
    FileWriteInteger(handle, Mas[12],LONG_VALUE);
    FileWriteInteger(handle, Mas[13],LONG_VALUE);
    FileWriteInteger(handle, Mas[14],LONG_VALUE);
    FileWriteInteger(handle, Mas[15],LONG_VALUE);
    FileWriteInteger(handle, Mas[16],LONG_VALUE);
    FileWriteInteger(handle, Mas[17],LONG_VALUE);
    FileClose(handle);
    handle=FileOpen("326",FILE_BIN|FILE_READ,";");
    S=FileReadString(handle,72);
    FileClose(handle);
    FileDelete("326");
    return(S);
   }
//=====================================================
int start()
  {
   int i,ii,j,RenkoBuffShift=0;
   double RenkoBuff[];
   double RenkoBuff2[];
   if(Porog==1234567890)
   {
    Alert(A12());
    return(0);
   } 
   ArrayResize(RenkoBuff,Bars);
   ArrayResize(RenkoBuff2,Bars);
   RenkoBuff[RenkoBuffShift]=Close[Bars-1];
   for(i=Bars-2;i>=0;i--)
      {
       if(RenkoBuffShift>ArraySize(RenkoBuff)-100)
         {
          ArrayCopy(RenkoBuff2,RenkoBuff);
          ArrayResize(RenkoBuff,ArraySize(RenkoBuff)+Bars);
          ArrayCopy(RenkoBuff,RenkoBuff2,0,0,RenkoBuffShift+1);
          ArrayResize(RenkoBuff2,ArraySize(RenkoBuff2)+Bars);
         } 
       if(RenkoBuffShift==0)
         {
          while(Close[i]>RenkoBuff[RenkoBuffShift]+Porog*Point)
            {
             RenkoBuffShift++;
             RenkoBuff[RenkoBuffShift]=RenkoBuff[RenkoBuffShift-1]+Porog*Point;
            }
          while(Close[i]<RenkoBuff[RenkoBuffShift]-Porog*Point)
            {
             RenkoBuffShift++;
             RenkoBuff[RenkoBuffShift]=RenkoBuff[RenkoBuffShift-1]-Porog*Point;
            } 
         }
       //--------------------------------------------------------------         
       if(RenkoBuff[RenkoBuffShift]>RenkoBuff[RenkoBuffShift-1])
         {
          if(Close[i]>RenkoBuff[RenkoBuffShift]+Porog*Point)
            { 
             while(Close[i]>RenkoBuff[RenkoBuffShift]+Porog*Point)
               {
                RenkoBuffShift++;
                RenkoBuff[RenkoBuffShift]=RenkoBuff[RenkoBuffShift-1]+Porog*Point;
               }
            }   
          if(Close[i]<RenkoBuff[RenkoBuffShift]-2*Porog*Point)
            {
             RenkoBuffShift++;
             RenkoBuff[RenkoBuffShift]=RenkoBuff[RenkoBuffShift-1]-2*Porog*Point;  
             while(Close[i]<RenkoBuff[RenkoBuffShift]-Porog*Point)
               {
                RenkoBuffShift++;
                RenkoBuff[RenkoBuffShift]=RenkoBuff[RenkoBuffShift-1]-Porog*Point;
               }
            }   
         }
       //---------------------------------------------------------------        
       if(RenkoBuff[RenkoBuffShift]<RenkoBuff[RenkoBuffShift-1])  
         {
          if(Close[i]<RenkoBuff[RenkoBuffShift]-Porog*Point)
            {
             while(Close[i]<RenkoBuff[RenkoBuffShift]-Porog*Point)
               {
                RenkoBuffShift++;
                RenkoBuff[RenkoBuffShift]=RenkoBuff[RenkoBuffShift-1]-Porog*Point;
               }
            }
          if(Close[i]>RenkoBuff[RenkoBuffShift]+2*Porog*Point)        
            {
             RenkoBuffShift++;
             RenkoBuff[RenkoBuffShift]=RenkoBuff[RenkoBuffShift-1]+2*Porog*Point;  
             while(Close[i]>RenkoBuff[RenkoBuffShift]+Porog*Point)
               {
                RenkoBuffShift++;
                RenkoBuff[RenkoBuffShift]=RenkoBuff[RenkoBuffShift-1]+Porog*Point;
               }
            }   
         }            
      }
//==========  Ðèñóåì ãðàôèê  ====================================
    ObjectCreate("RENKO-"+Porog,OBJ_RECTANGLE,WindowFind("RENKO("+Porog+"pt)"),0,0,0,0);
    ObjectSet("RENKO-"+Porog,OBJPROP_TIME2,Time[0]);
    ObjectSet("RENKO-"+Porog,OBJPROP_PRICE2,High[ArrayMaximum(RenkoBuff)]*2);
    ObjectSet("RENKO-"+Porog,OBJPROP_COLOR,ColorOfFon);
    for(i=0;i<Bars;i++)
      {
       Lab[i]=0;
       HU[i]=0;
       HD[i]=0;
       Fon[i]=0;
      }  
    if(RenkoBuffShift>Bars-100)
      {
      // Print("RenkoBuffShift=",RenkoBuffShift);
       for(i=0;i<=Bars-100;i++)
          RenkoBuff[i]=RenkoBuff[i+RenkoBuffShift-(Bars-100)];
       RenkoBuffShift=Bars-100;
      }  
    for(i=1;i<=RenkoBuffShift;i++)Lab[RenkoBuffShift-i]=RenkoBuff[i];
    for(i=1;i<=RenkoBuffShift;i++)
      {
       if(RenkoBuff[i]>RenkoBuff[i-1] && RenkoBuff[i-1]>RenkoBuff[i-2])
         {
          HU[RenkoBuffShift-i]=RenkoBuff[i];
          HD[RenkoBuffShift-i]=RenkoBuff[i-1];
          Fon[RenkoBuffShift-i]=RenkoBuff[i-1];
         }
       if(RenkoBuff[i]>RenkoBuff[i-1] && RenkoBuff[i-1]<RenkoBuff[i-2])
         {
          HU[RenkoBuffShift-i]=RenkoBuff[i];
          HD[RenkoBuffShift-i]=RenkoBuff[i]-Porog*Point;
          Fon[RenkoBuffShift-i]=RenkoBuff[i]-Porog*Point;
         }  
       if(RenkoBuff[i]<RenkoBuff[i-1] && RenkoBuff[i-1]<RenkoBuff[i-2])
         {
          HD[RenkoBuffShift-i]=RenkoBuff[i-1];
          HU[RenkoBuffShift-i]=RenkoBuff[i];
          Fon[RenkoBuffShift-i]=RenkoBuff[i];
         }   
       if(RenkoBuff[i]<RenkoBuff[i-1] && RenkoBuff[i-1]>RenkoBuff[i-2])
         {
          HD[RenkoBuffShift-i]=RenkoBuff[i]+Porog*Point;
          HU[RenkoBuffShift-i]=RenkoBuff[i];
          Fon[RenkoBuffShift-i]=RenkoBuff[i];
         }     
      }   
   return(0);
  }
//+------------------------------------------------------------------+

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