You can access the functionality of Smart Renko from Price Breakout Pattern Scanner too. You can also get the standalone smart renko indiactor too if you wish. There are two articles to explain the functionality of the Smart Renko. First article is short and second article is long. We recommend reading both articles to maximize the potential of the Price Breakout Pattern Scanner.
Our Price breakout pattern scanner is very unique tool in the market because it has the built in feature for Smart Renko inside. There is reason for that. Smart Renko is really helpful for the chart pattern detection in the separate sub window. So they can improve your trading decision made in the main chart. Imagine that in the main chart, Price Breakout Pattern Scanner is automatically detecting the patterns for you. In the indicator window, you can also detect any other important patterns readily. If you can collect evidence for your trading from both main chart and renko chart, you can make more accurate trading decision.
In this post, let us show how to switch on and off the smart Renko chart from your price breakout pattern Scanner. Before you are using Smart Renko feature enabled, you might download sufficient history in your chart first. Once you have done it, set Use “Smart Renko = true” from your indicator setting. See the screenshots for your better understanding. Some of our customer know that there is great way of trading with Price breakout pattern scanner and our Harmonic Pattern Plus (or Harmonic Pattern Scenario Planner) If you are curious, you migh check our ebook. We have described the trading principle in details in this book: Scientific Guide to Price Action and Pattern Trading.
Here are the links for the Price Breakout Pattern Scanner in MetaTrader 4 and MetaTrader 5. Both platform provide nearly identical features for Price Breakout Pattern Scanner. In addition, if you wish, you can also get the Smart Renko only as the sepearte indicator for your MetaTrader.