I have made a small modification on Renko indicator and I would like to know about this Renko Hybrid Indicator in this post. It is possible make a little modification on a renko and you can do it yourself to maximize your earnings. I believe it’s easier to show than to describe so please look at the image to understand my settings.
I am going to describe a 1 pip Renko which is the modified version. A True Renko bar that doesn’t open until the first bar has moved 2 pips whatever Renko setting you are using. Though it looks good but you should not use NT. If you want, I can upload the script and Ea version of the normal renko. I use a large defined range bar and cover a smaller defined renko indicator that paints a pretty historical picture.
As well as You can take idea from NT7 hybrid renko since its the same because it includes very long wicks, some of them goes more than 3 candles. Those long wicks almost certainly have changes color of real time.
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