Renko Candlesticks: Observations, Strategies, Finding Renko Adept | Forex Factory

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Renko Candlesticks: Observations, Strategies, Finding Renko Adept

  • #1
  • Quote
  • First Post: Feb 22, 2026 11:27pm Feb 22, 2026 11:27pm
I've been interested in Renko candlesticks for a long time (over 5 years). It's a shame they aren't available in all terminals (especially MT4/5)... But a resourceful mind always finds a way
Below I'll write about my experience with Renko candlesticks.
For me, trading is more of a hobby than a full-time professional activity. So, I'm looking for like-minded people to join my channel.
  • #2
  • Quote
  • Feb 22, 2026 11:31pm Feb 22, 2026 11:31pm
Divergences work better and cleaner on Renko candlesticks than on regular candlesticks. I tried using digital filters for this before. It was interesting, but far from ideal.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 47 KB
Attached File(s)
File Type: ex4 T3 Ftlm.ex4   32 KB | 24 downloads
  • #3
  • Quote
  • Feb 22, 2026 11:38pm Feb 22, 2026 11:38pm
Recent tests have shown that Renko and RSI oscillator divergences are better than many other options... A very accurate signal with a probability of 80-90% (if you are not greedy and do not take many candles in TP 1-4 candles)
Attached Image (click to enlarge)
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  • #4
  • Quote
  • Feb 22, 2026 11:42pm Feb 22, 2026 11:42pm
Since testing Renko candles in the tester is possible but very difficult, I displayed some of the information on the indicator screen.
Attached File(s)
File Type: ex4 RSI Diver eng.ex4   50 KB | 32 downloads
  • #5
  • Quote
  • Feb 22, 2026 11:57pm Feb 22, 2026 11:57pm
There is also an indicator for MT5
  • #6
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  • Feb 23, 2026 12:00am Feb 23, 2026 12:00am
As initial testing has shown... with a TP/SL ratio of 1/3, the percentage of positive trades is very high - 80-90%. At 4/1, the percentage is lower... 50-60%, but the profitability is higher.
  • #7
  • Quote
  • Feb 23, 2026 12:02am Feb 23, 2026 12:02am
Quoting DJTrend
Since testing Renko candles in the tester is possible but very difficult, I displayed some of the information on the indicator screen. {file}
As I wrote above, the indicator implements pseudo backtesting.
  • #8
  • Quote
  • Feb 23, 2026 12:07am Feb 23, 2026 12:07am
There are two development paths:
- either test and develop this idea using Renko candlesticks drawn by a separate advisor (more visual and informative)
- or switch to pseudo-Renko candlesticks (which are drawn on regular candlesticks)
This method, although not visual, will allow you to easily test your strategy in the MT4/MT5 tester.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB
  • #9
  • Quote
  • Feb 23, 2026 2:07am Feb 23, 2026 2:07am
Quoting DJTrend
I've been interested in Renko candlesticks for a long time (over 5 years). It's a shame they aren't available in all terminals (especially MT4/5)... But a resourceful mind always finds a way Below I'll write about my experience with Renko candlesticks. For me, trading is more of a hobby than a full-time professional activity. So, I'm looking for like-minded people to join my channel.
Check out www.ovo.cz
  • #10
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  • Feb 23, 2026 2:52am Feb 23, 2026 2:52am
Quoting handy148
{quote} Check out www.ovo.cz
Yes, I know this site. Thank you.
  • #11
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  • Feb 23, 2026 4:54am Feb 23, 2026 4:54am
Hi DJtrend, could you explain which renko you are using , there is many in the market
  • #12
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  • Feb 23, 2026 5:53pm Feb 23, 2026 5:53pm
Quoting Shama369
Hi DJtrend, could you explain which renko you are using , there is many in the market
Hi. In MT5, it's https://www.mql5.com/en/market/produ...tility+Search#
And for MT4, four years ago, I received a custom order for a Renko candlestick generator based on my specifications.
  • #13
  • Quote
  • Feb 23, 2026 7:27pm Feb 23, 2026 7:27pm
Quoting DJTrend
Since testing Renko candles in the tester is possible but very difficult, I displayed some of the information on the indicator screen. {file}
Is this the custom made version?
  • #14
  • Quote
  • Feb 23, 2026 7:31pm Feb 23, 2026 7:31pm
Quoting emykav
{quote} Is this the custom made version?
I did it myself
I think you can add various necessary elements... It's important that it makes sense
  • #15
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  • Feb 23, 2026 8:22pm Feb 23, 2026 8:22pm
So what is the purpose of this thread if you have tools that only you using it . ????
  • #16
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  • Feb 23, 2026 9:22pm Feb 23, 2026 9:22pm
The point isn't drawing Renko candlesticks. There are plenty of those online... The point is in interesting divergences with the RSI. And in the indicator written for this purpose.
  • #17
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  • Feb 23, 2026 10:55pm Feb 23, 2026 10:55pm
I have a shed load of divergence indicators and none come close to being anywhere near 100% accuracy.
  • #18
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  • Feb 23, 2026 11:00pm Feb 23, 2026 11:00pm
Quoting handy148
I have a shed load of divergence indicators and none come close to being anywhere near 100% accuracy.
Nothing gives you 100% certainty, but RSI has the most interesting divergences (for me). The key here is the Renko candlesticks.
  • #19
  • Quote
  • Last Post: Feb 27, 6:45am (31 hr ago) Feb 27, 6:45am (31 hr ago)
Thank you DJ trend.
would be so helpful if you explain your strategy with RSI divergence please
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