RenkoShade2_1

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Author: , Doztronics
RenkoShade2_1

This script is designed to overlay a Renko chart onto your standard trading platform view. Unlike traditional candlestick charts that represent price action based on time intervals (e.g., every 5 minutes or 1 hour), Renko charts focus exclusively on price movement, filtering out "noise" by only creating new blocks when the price moves by a specific, predetermined amount.

How the Logic Works

1. Price Movement Filtering (The "Box" System) The script monitors the continuous flow of price data. It looks for a specific price change defined by the "Renko Box Size." Instead of showing every tiny fluctuation, it waits until the price moves enough to complete a "box."

  • If the price moves up by the designated amount, a new upward box is drawn.
  • If the price moves down by that same amount, a new downward box is drawn.

2. Handling Historical Data and Live Feed When you first load the script, it performs a comprehensive scan of your recent historical data. It "replays" those past prices to build an accurate sequence of Renko blocks from the past. Once the initial history is drawn, the script switches into live mode, constantly monitoring the current market price (the "Bid") to draw new boxes in real-time as they occur.

3. Visual Construction For every movement that completes a box, the script dynamically creates three distinct visual elements on your screen:

  • The Body: A rectangle representing the main movement of the price.
  • The Head/Tail: These represent the "Wicks," which show how far the price overshot or undershot the target box before settling. You can choose to enable or disable these in the settings.
  • Dynamic Coloring: The script automatically assigns different colors to upward-moving boxes (typically green) and downward-moving boxes (typically maroon), allowing for a quick visual assessment of the current trend direction.

4. Smart Calculations for Different Assets The script includes internal logic to handle different types of currency pairs and assets. It recognizes that some markets have more decimal places than others (such as JPY pairs or standard forex pairs) and automatically scales the box sizes so that the visual representation remains consistent and accurate regardless of what asset you are trading.

5. Clean Cleanup To ensure your platform remains organized, the script includes a "cleanup" routine. When you remove the script or restart it, it automatically identifies and deletes all the Renko objects it created, leaving your chart clean and free of leftover drawings.

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RenkoShade2_1 
//+------------------------------------------------------------------+
//|                                                  RenkoShade2.mq4 |
//|   Draws renko on normal tf main window                           |
//|   main algo ripped from renkolivechart_v32                       |
//|   plus minor modification to make it work                        |
//|   and make sense to the coder himself                            |
//|                                                     , Doztronics |
//|                                        http://www.doztronics.com |
//|  log                                                             |
//|  v2_1  rip CompareDoubles from stdlib so no need to import       |
//|                                                                  |
//|                                                                  |
//+------------------------------------------------------------------+
#property copyright ", Doztronics"
#property link      "http://www.doztronics.com"
// email: regfrea.k@gmail.com

#property indicator_chart_window
//+------------------------------------------------------------------+
extern color RenkoBodyUp=DarkGreen;
extern color RenkoBodyDn=Maroon;
extern color RenkoHead=PaleTurquoise;
extern color RenkoTail=Wheat;

extern int debugIdx=0;

int rsBoxIdx=1;
bool rsBoxUp=true;

double p=0;
double RenkoSizeP=0;

double rso,rsc,rsh,rsl,rst,rsv;
//+------------------------------------------------------------------+
extern int RenkoBoxSize = 5;
extern int RenkoBoxOffset = 0;
extern bool ShowWicks = true;
extern int BarsCount=500;
//+------------------------------------------------------------------+
int HstHandle = -1, MT4InternalMsg = 0;
string SymbolName;



//+------------------------------------------------------------------+
int start() {
 
    static double BoxPoints, UpWick, DnWick;
    static double PrevLow, PrevHigh, PrevOpen, PrevClose, CurVolume, CurLow, CurHigh, CurOpen, CurClose;
    static datetime PrevTime;
       
    //+------------------------------------------------------------------+
    // This is only executed ones, then the first tick arives.
    if(HstHandle < 0) {
        // Init
        HstHandle=0;
        // Error checking    
        if(MathAbs(RenkoBoxOffset) >= RenkoBoxSize) {
            Print("Error: |RenkoBoxOffset| should be less then RenkoBoxSize!");
            return(-1);
        }
        //
        
        int BoxSize = RenkoBoxSize;
        int BoxOffset = RenkoBoxOffset;
        if(Digits == 5 || (Digits == 3 && StringFind(Symbol(), "JPY") != -1)) {
            BoxSize = BoxSize*10;
            BoxOffset = BoxOffset*10;
        }
        if(Digits == 6 || (Digits == 4 && StringFind(Symbol(), "JPY") != -1)) {
            BoxSize = BoxSize*100;        
            BoxOffset = BoxOffset*100;
        }
        
        SymbolName = Symbol();
        BoxPoints = NormalizeDouble(BoxSize*Point, Digits);
        
//        PrevLow = NormalizeDouble(BoxOffset*Point + MathFloor(Close[Bars-1]/BoxPoints)*BoxPoints, Digits);
        PrevLow = NormalizeDouble(BoxOffset*Point + MathFloor(Close[BarsCount-1]/BoxPoints)*BoxPoints, Digits);
        DnWick = PrevLow;
        PrevHigh = PrevLow + BoxPoints;
        UpWick = PrevHigh;
        PrevOpen = PrevLow;
        PrevClose = PrevHigh;
        CurVolume = 1;
//        PrevTime = Time[Bars-1];
        PrevTime = Time[BarsCount-1];
    
        //
       
         // process historical data
          //int i = Bars-2;
          int i = BarsCount-2;
        //Print(Symbol() + " " + High[i] + " " + Low[i] + " " + Open[i] + " " + Close[i]);
        //---------------------------------------------------------------------------
          while(i >= 0) {
          
            CurVolume = CurVolume + Volume[i];
        
            UpWick = MathMax(UpWick, High[i]);
            DnWick = MathMin(DnWick, Low[i]);
 
            // update low before high or the revers depending on is closest to prev. bar
            bool UpTrend = High[i]+Low[i] > High[i+1]+Low[i+1];
        
            while(UpTrend && (Low[i] < PrevLow-BoxPoints || CompareDoubles(Low[i], PrevLow-BoxPoints))) {
                  PrevHigh = PrevHigh - BoxPoints;
                  PrevLow = PrevLow - BoxPoints;
                  PrevOpen = PrevHigh;
                  PrevClose = PrevLow;
 
                rst=PrevTime;
                rso=PrevOpen;
                rsl=PrevLow;
 
                if(ShowWicks && UpWick > PrevHigh) rsh=UpWick;
                else rsh=PrevHigh;
                                                
                rsc=PrevClose;
                rsv=CurVolume;
                
                UpWick = 0;
                DnWick = EMPTY_VALUE;
                CurVolume = 0;
                CurHigh = PrevLow;
                CurLow = PrevLow;  
                
                if(PrevTime < Time[i]) PrevTime = Time[i];
                else PrevTime=PrevTime+60*Period();

               ObjectDelete("rsBox"+rsBoxIdx);
               ObjectDelete("rsHead"+rsBoxIdx);
               ObjectDelete("rsTail"+rsBoxIdx);
               ObjectCreate("rsBox"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsc);
               ObjectCreate("rsHead"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rsc,PrevTime,rsh);
               ObjectCreate("rsTail"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsl);
               ObjectSet("rsBox"+rsBoxIdx,OBJPROP_COLOR,RenkoBodyUp);
               ObjectSet("rsHead"+rsBoxIdx,OBJPROP_COLOR,RenkoHead);
               ObjectSet("rsTail"+rsBoxIdx,OBJPROP_COLOR,RenkoTail);

                     if(rsBoxIdx==debugIdx){
                        Print("2010.01.15 16:10 --**",rsBoxIdx);
                        Print(rso);
                        Print(rsh);
                        Print(rsl);
                        Print(rsc);
                        Print(rst);
                     }
         
               rsBoxIdx++;
                               
            }     // while(UpTrend && (Low[i] < PrevLow
        
            while(High[i] > PrevHigh+BoxPoints || CompareDoubles(High[i], PrevHigh+BoxPoints)) {
                  PrevHigh = PrevHigh + BoxPoints;
                  PrevLow = PrevLow + BoxPoints;
                  PrevOpen = PrevLow;
                  PrevClose = PrevHigh;
              
                rst=PrevTime;
                rso=PrevOpen;
 
                    if(ShowWicks && DnWick < PrevLow) rsl=DnWick;
                else rsl=PrevLow;
                                
                rsh=PrevHigh;
                rsc=PrevClose;
                rsv=CurVolume;
                
                UpWick = High[i];
                DnWick = EMPTY_VALUE;
                CurVolume = 0;
                CurHigh = PrevHigh;
                CurLow = PrevHigh;  
                
                if(PrevTime < Time[i]) PrevTime = Time[i];
                else PrevTime=PrevTime+60*Period();
                
               ObjectDelete("rsBox"+rsBoxIdx);
               ObjectDelete("rsHead"+rsBoxIdx);
               ObjectDelete("rsTail"+rsBoxIdx);
               ObjectCreate("rsBox"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsc);
               ObjectCreate("rsHead"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rsc,PrevTime,rsh);
               ObjectCreate("rsTail"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsl);
               ObjectSet("rsBox"+rsBoxIdx,OBJPROP_COLOR,RenkoBodyUp);
               ObjectSet("rsHead"+rsBoxIdx,OBJPROP_COLOR,RenkoHead);
               ObjectSet("rsTail"+rsBoxIdx,OBJPROP_COLOR,RenkoTail);
               
                  if(rsBoxIdx==debugIdx){
                     Print("2010.01.15 16:10 --##",rsBoxIdx);
                     Print(rso);
                     Print(rsh);
                     Print(rsl);
                     Print(rsc);
                     Print(rst);
                  }

               rsBoxIdx++;

            }     // while(High[i] > PrevHigh+BoxPoints || CompareDoubles
        
            while(!UpTrend && (Low[i] < PrevLow-BoxPoints || CompareDoubles(Low[i], PrevLow-BoxPoints))) {
                  PrevHigh = PrevHigh - BoxPoints;
                  PrevLow = PrevLow - BoxPoints;
                  PrevOpen = PrevHigh;
                  PrevClose = PrevLow;
              
                rst=PrevTime;
                rso=PrevOpen;
                rsl=PrevLow;
                
                if(ShowWicks && UpWick > PrevHigh) rsh=UpWick;
                else rsh=PrevHigh;
                
                rsc=PrevClose;
                rsv=CurVolume;
 
                UpWick = 0;
//                DnWick = EMPTY_VALUE;
                DnWick = Low[i];
                CurVolume = 0;
                CurHigh = PrevLow;
                CurLow = PrevLow;  
                                
                if(PrevTime < Time[i]) PrevTime = Time[i];
                else PrevTime=PrevTime+60*Period();
                
               ObjectDelete("rsBox"+rsBoxIdx);
               ObjectDelete("rsHead"+rsBoxIdx);
               ObjectDelete("rsTail"+rsBoxIdx);
               ObjectCreate("rsBox"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsc);
               ObjectCreate("rsHead"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsh);
               ObjectCreate("rsTail"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rsc,PrevTime,rsl);
               ObjectSet("rsBox"+rsBoxIdx,OBJPROP_COLOR,RenkoBodyDn);
               ObjectSet("rsHead"+rsBoxIdx,OBJPROP_COLOR,RenkoHead);
               ObjectSet("rsTail"+rsBoxIdx,OBJPROP_COLOR,RenkoTail);

                  if(rsBoxIdx==debugIdx){
                     Print("2010.01.15 16:10 --$$",rsBoxIdx);
                     Print(rso);
                     Print(rsh);
                     Print(rsl);
                     Print(rsc);
                     Print(rst);
                  }
            
               rsBoxIdx++;

            }        
            i--;
        } 
        //
            
//        Comment("RenkoLiveChart(" + RenkoBoxSize + "): Open Offline ", SymbolName, ",M", RenkoTimeFrame, " to view chart");
        
        if(Close[0] > MathMax(PrevClose, PrevOpen)) CurOpen = MathMax(PrevClose, PrevOpen);
        else if (Close[0] < MathMin(PrevClose, PrevOpen)) CurOpen = MathMin(PrevClose, PrevOpen);
        else CurOpen = Close[0];
        
        CurClose = Close[0];
                
        if(UpWick > PrevHigh) CurHigh = UpWick;
        if(DnWick < PrevLow) CurLow = DnWick;
      
        rst=PrevTime;
        rso=CurOpen;
        rsl=CurLow;
        rsh=CurHigh;
        rsc=CurClose;
        rsv=CurVolume;

//ZDO still in the making
        if(rso<rsc) { // UP
               ObjectDelete("rsBox"+rsBoxIdx);
               ObjectDelete("rsHead"+rsBoxIdx);
               ObjectDelete("rsTail"+rsBoxIdx);
               ObjectCreate("rsBox"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsc);
               ObjectCreate("rsHead"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rsc,PrevTime,rsh);
               ObjectCreate("rsTail"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsl);
               ObjectSet("rsBox"+rsBoxIdx,OBJPROP_COLOR,RenkoBodyUp);
               ObjectSet("rsHead"+rsBoxIdx,OBJPROP_COLOR,RenkoHead);
               ObjectSet("rsTail"+rsBoxIdx,OBJPROP_COLOR,RenkoTail);
        } else {  // DOWN
               ObjectDelete("rsBox"+rsBoxIdx);
               ObjectDelete("rsHead"+rsBoxIdx);
               ObjectDelete("rsTail"+rsBoxIdx);
               ObjectCreate("rsBox"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsc);
               ObjectCreate("rsHead"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsh);
               ObjectCreate("rsTail"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rsc,PrevTime,rsl);
               ObjectSet("rsBox"+rsBoxIdx,OBJPROP_COLOR,RenkoBodyDn);
               ObjectSet("rsHead"+rsBoxIdx,OBJPROP_COLOR,RenkoHead);
               ObjectSet("rsTail"+rsBoxIdx,OBJPROP_COLOR,RenkoTail);
        }
        
         if(rsBoxIdx==debugIdx){
                Print("2010.01.15 16:10 --^^",rsBoxIdx);
                Print(rso);
                Print(rsh);
                Print(rsl);
                Print(rsc);
                Print(rst);
             }
            
         rsBoxIdx++;


        return(0);
         // End historical data / Init        
    }         
    //----------------------------------------------------------------------------
     // HstHandle not < 0 so we always enter here after history done
    // Begin live data feed
               
    UpWick = MathMax(UpWick, Bid);
    DnWick = MathMin(DnWick, Bid);
 
    CurVolume++;               
 
     //-------------------------------------------------------------------------                       
     // up box                       
       if(Bid > PrevHigh+BoxPoints || CompareDoubles(Bid, PrevHigh+BoxPoints)) {
        PrevHigh = PrevHigh + BoxPoints;
        PrevLow = PrevLow + BoxPoints;
          PrevOpen = PrevLow;
          PrevClose = PrevHigh;
                                
        rst=PrevTime;
        rso=PrevOpen;
 
        if (ShowWicks && DnWick < PrevLow) rsl=DnWick;
        else rsl=PrevLow;
                      
        rsh=PrevHigh;
        rsc=PrevClose;
        rsv=CurVolume;
          
        if(PrevTime < TimeCurrent()) PrevTime = TimeCurrent();
        else PrevTime=PrevTime+60*Period();
                    
         ObjectDelete("rsBox"+rsBoxIdx);
         ObjectDelete("rsHead"+rsBoxIdx);
         ObjectDelete("rsTail"+rsBoxIdx);
         ObjectCreate("rsBox"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsc);
         ObjectCreate("rsHead"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rsc,PrevTime,rsh);
         ObjectCreate("rsTail"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsl);
         ObjectSet("rsBox"+rsBoxIdx,OBJPROP_COLOR,RenkoBodyUp);
         ObjectSet("rsHead"+rsBoxIdx,OBJPROP_COLOR,RenkoHead);
         ObjectSet("rsTail"+rsBoxIdx,OBJPROP_COLOR,RenkoTail);
         
         if(rsBoxIdx==debugIdx){
            Print("2010.01.15 16:10 --@@",rsBoxIdx);
            Print(rso);
            Print(rsh);
            Print(rsl);
            Print(rsc);
            Print(rst);
         }

         rsBoxIdx++;
               
        CurVolume = 0;
        CurHigh = PrevHigh;
        CurLow = PrevHigh;  
        
        UpWick = 0;
        DnWick = EMPTY_VALUE;        
        
      }
     //-------------------------------------------------------------------------                       
     // down box
    else if(Bid < PrevLow-BoxPoints || CompareDoubles(Bid,PrevLow-BoxPoints)) {
          PrevHigh = PrevHigh - BoxPoints;
          PrevLow = PrevLow - BoxPoints;
          PrevOpen = PrevHigh;
          PrevClose = PrevLow;
                                
        rst=PrevTime;
        rso=PrevOpen;
        rsl=PrevLow;
 
        if(ShowWicks && UpWick > PrevHigh) rsh=UpWick;
        else rsh=PrevHigh;
                              
        rsc=PrevClose;
        rsv=CurVolume;
          
        if(PrevTime < TimeCurrent()) PrevTime = TimeCurrent();
        else PrevTime=PrevTime+60*Period();
                    
         ObjectDelete("rsBox"+rsBoxIdx);
         ObjectDelete("rsHead"+rsBoxIdx);
         ObjectDelete("rsTail"+rsBoxIdx);
         ObjectCreate("rsBox"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsc);
         ObjectCreate("rsHead"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rso,PrevTime,rsh);
         ObjectCreate("rsTail"+rsBoxIdx,OBJ_RECTANGLE,0,rst,rsc,PrevTime,rsl);
         ObjectSet("rsBox"+rsBoxIdx,OBJPROP_COLOR,RenkoBodyDn);
         ObjectSet("rsHead"+rsBoxIdx,OBJPROP_COLOR,RenkoHead);
         ObjectSet("rsTail"+rsBoxIdx,OBJPROP_COLOR,RenkoTail);

         if(rsBoxIdx==debugIdx){
            Print("2010.01.15 16:10 --%%",rsBoxIdx);
            Print(rso);
            Print(rsh);
            Print(rsl);
            Print(rsc);
            Print(rst);
         }

         rsBoxIdx++;

          CurVolume = 0;
        CurHigh = PrevLow;
        CurLow = PrevLow;  
        
        UpWick = 0;
        DnWick = EMPTY_VALUE;        
        
         } 
     //-------------------------------------------------------------------------                       
       // no box - high/low not hit                
    else {
        if(Bid > CurHigh) CurHigh = Bid;
        if(Bid < CurLow) CurLow = Bid;
        
        if(PrevHigh <= Bid) CurOpen = PrevHigh;
        else if(PrevLow >= Bid) CurOpen = PrevLow;
        else CurOpen = Bid;
        
        CurClose = Bid;
        
/*        FileWriteInteger(HstHandle, PrevTime, LONG_VALUE);        // Time
        FileWriteDouble(HstHandle, CurOpen, DOUBLE_VALUE);             // Open
        FileWriteDouble(HstHandle, CurLow, DOUBLE_VALUE);        // Low
        FileWriteDouble(HstHandle, CurHigh, DOUBLE_VALUE);        // High
        FileWriteDouble(HstHandle, CurClose, DOUBLE_VALUE);        // Close
        FileWriteDouble(HstHandle, CurVolume, DOUBLE_VALUE);        // Volume                
            FileFlush(HstHandle);
            
        UpdateChartWindow();            
*/
         }
         return(0);
}
//+------------------------------------------------------------------+
int deinit() {
  int    obj_total=ObjectsTotal();
  string name;
  for(int i=obj_total;i>=0;i--)
    {
     name=ObjectName(i);
     if(StringSubstr(name,0,2)=="rs") {
      ObjectDelete(name);
     }
    }

    Comment("");
    return(0);
}
//+------------------------------------------------------------------+
int init() {
  int    obj_total=ObjectsTotal();
  string name;
  for(int i=obj_total;i>=0;i--)
    {
     name=ObjectName(i);
     if(StringSubstr(name,0,2)=="rs") {
      ObjectDelete(name);
     }
    }

    Comment("");
    return(0);
}
//+------------------------------------------------------------------+
//| right comparison of 2 doubles                                    |
//| taken from stdlib.mqh so no need to import external function     |
//+------------------------------------------------------------------+
bool CompareDoubles(double number1,double number2)
  {
   if(NormalizeDouble(number1-number2,8)==0) return(true);
   else return(false);
  }
//+------------------------------------------------------------------+

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