Volume delta analysis powered by custom renko symbols
<p>Some time ago I conducted a research on building renko charts based on MetaTrader's custom symbols feature. One of the options is to build the renko from real ticks history, which is normally provided by many of MT5 brokers. I published my findings in the blog – Trading on renko charts built from real ticks , but it was an experimental stuff at that moment. This is why I did not share the expert adviser used to generate the renko from real ticks. Now, finally, this tool is available for everyone in the market as RenkoFromRealTicks . I decided to publish it, because the tickwise approach of custom symbol generation allows for other popular technical analysis methods to be involved. Specifically, based on ticks data, it's possible to calculate volume delta per renko box. Then we can save the delta in the quotes of the newly created custom symbol. According to many experienced traders, the mixture of the renko technique and volume delta leverages additional analytical power. The product s</p>
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