Renko line

Renko line indicator is a VertexFX client side indicator. The indicator has a display line which has two colors – green and red – Green color states the uptrend and Red is a downtrend.

The indicator is calculated by the method of constructing Renko charts. In constructing, the indicator uses a discrete change in price of a financial instrument. This makes it possible to filter the small price changes. The value of this range is set using the input parameter Step – size “brick”, and its default value is 250. To change the trend from increasing to decreasing and vice versa, the price of the financial instrument should equal to “Step × Revers”. For classical Renko chartsو Revers value should be 2.

There are many trading strategies using Renko charts. This indicator gives you the ability to use these strategies in your work in the financial markets. Depending on the strategy you selected, you can change the input parameters of the indicator as follows:

Step (default = 250) – the size of the brick.
Revers (default = 2) – the number of discrete intervals (blocks).

Usage

• Download the attachment from vStore or directly from the vStore tab in your terminal by performing a right click on it and selecting Download & Install
• Copy it to your company VertexFX Local VTL Files folder i.e. C:ProgramDataVertexFX Client Terminals”Company name”VTL10Local VTL Scripts
• Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.