The indicator displays renko bars on a chart, uses them to plot the fast and slow moving average and Stochastic, as well as it provides buy/sell signals:

• a buy signal is generated when the fast moving is above the slow one, and the signal line of Stochastic crosses the lower level from bottom up;
• a sell signal is generated when the fast moving is below the slow one, and the signal line of Stochastic crosses the upper level from top to bottom;

Renko is a non-trivial price display method. Instead of displaying each bar within a time interval, only the bars where the price moved a certain number of points are shown. Renko bars do not depend on a time interval, therefore the indicator works on any timeframe without losing its efficiency.

Buy and sell signals appear on the chart as corresponding arrows, as well as are displayed as a pop-up alert, in an e-mail and push notifications.

Parameters

• RenkoBar - renko bar size (specified for 4-digit quotes, automatically re-calculated for 5- and 3-digit quotes);
• CountBars - number of renko bars displayed on a chart;
• bearColor - bearish bar color;
• bullColor - bullish bar color;
• hideBars - flag of hiding standard bars on a chart;
• MaFastPeriod - the period of the fast moving average;
• MaFastMethod - method of calculation of the fast moving average;
• MaFastColor - the color of the fast moving average;
• MaSlowPeriod - the period of the slow moving average;
• MaSlowMethod - method of calculation of the slow moving average;
• MaSlowColor - the color of the slow moving average;
• StochK - Stochastic K period;
• StochD - Stochastic D period;
• StochSlow - Stochastic slowing;
• StochUpLevel - the upper level of Stochastic;
• StochDownLevel - the lower level of Stochastic;
• StochMainColor - the color of the main line of Stochastic;
• StochSignalColor - the color of the signal line of Stochastic;
• BuyColor - the color of the Buy signal arrow;
• SellColor - the color of the Sell signal arrow;
• usealert - enable notifications in a popup window;
• useMail - enable email notifications;
• useNotification - enable push notifications;
• messageText - the text of the notification.