AG Renko Chart Metatrader 4 Forex Indicator
The AG Renko Chart MT4 indicator provides simple, yet effective Renko based buy and sell signals on the activity chart.
The indicator draws two different line colors, blue and red.
A blue colored line indicates the trend is up and traders look for buy trade opportunities.
On the contrary, a red colored line indicates the trend is down and traders look for sell trade opportunities.
You can load the indicator onto any chart and timeframe of your choice.
The EUR/USD H1 chart below displays the AG Renko Chart forex indicator in action.
Basic Trading Signals
Trading the AG Renko Chart indicator goes as follows:
Buy Trade: Open buy order when the indicator draws a blue line on the MT4 chart.
Sell Trade: Open sell order when the indicator draws a red line on the MT4 chart.
Close the open trade at an opposite signal or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the ag-renko-chart.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)