Renko Star MT4 Indicator

Description

Renko Star MT4 Indicator – Precision Trading with Renko Charts

The Renko Star MT4 Indicator is a powerful arrow-based tool specifically designed for trading Renko charts. It provides accurate buy and sell signals, making it easier for traders to capture profitable market movements. With a built-in backtesting dashboard, this indicator offers valuable insights such as win rate, points won, and trade performance.

✅ Renko Star MT4 Indicator Key Features:

• Accurate Signals: Generates buy and sell arrows based on Renko chart movements, providing clear trade opportunities.
• Backtesting Dashboard: Displays useful stats like win rate, points gained, and overall performance, helping traders fine-tune their strategies.
• Take Profit (TP) & Stop Loss (SL) with ATR Multiplication: Automatically calculates TP and SL levels using ATR-based multipliers, improving risk management.
• Precise Signal Markers: A yellow mark indicates the exact price where the signal was generated, ensuring transparency.
• No Repainting or Backpainting: The indicator provides reliable, real-time signals without repainting past bars.
• Flexible Settings: Allows customization of ATR, star period, filters, and history length for tailored performance.

🔧 Renko Star MT4 Indicator Parameters:

• ATR TP: Defines TP based on ATR multiplication.
• ATR SL: Sets SL based on ATR multiplication.
• ATR Period: Determines the ATR calculation period.
• Star Period & Filter: Adjusts the indicator’s sensitivity and filtering accuracy.
• History: Selects the amount of historical data used for backtesting.
• Spread: Includes spread in backtesting calculations.
• Show Points: Displays the result of each signal in points if enabled.
• Color & Alerts: Customizable arrow, TP/SL colors, and alert settings.
• Dashboard Position: Choose where to display the performance panel on your chart.

🚀 How to Use:

1. Signal Execution: Open a buy or sell trade according to the arrow direction.
2. Set TP & SL: Use the indicator’s ATR-based TP and SL levels for optimal risk management.
3. Optimize Settings: Fine-tune the indicator parameters to achieve better backtesting results and improve strategy performance.

Additional Resources:

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