Renko Chart Generator MT5
Attach this EA at any Forex pair – this tool will automatically open new Renko Chart:
For XAUUSD at Roboforex use 100 points:
What is the difference between usual and Renko chart / bars?
The main difference is that usual charts (like candlestick charts) are time-based, with a new bar forming every fixed time interval, regardless of price movement. In contrast, Renko charts are price-based, forming a new brick only when the price moves by a specified amount, known as the “brick size”. Renko charts filter out minor price fluctuations to highlight significant trends, whereas time-based charts show all price and time movements.