GDS Renko Reversal Context
What it shows
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– Current Renko direction: UP or DOWN
– Number of consecutive confirmed bricks in the current run
– Fixed brick size
– Last confirmed Renko close
– Price level where the opposite Renko brick becomes confirmed
– Current market distance to that reversal level, measured in bricks
How it works
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The indicator builds a small classic Renko model directly from the symbol’s tick history.
Continuation rule:
A new brick in the current direction is confirmed after price moves one full brick beyond the last Renko close.
Reversal rule:
A reversal is confirmed only after price moves two full brick sizes against the current direction.
For an UP run:
reversal = last Renko close – 2 × brick size
For a DOWN run:
reversal = last Renko close + 2 × brick size
The dashed horizontal line marks that level.
Why this indicator exists
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A common Renko mistake is to treat every counter-move as a reversal. In classic Renko that is not true. Price must reach the two-brick reversal threshold before the opposite brick is confirmed.
This indicator is intentionally small. It does not generate BUY/SELL signals and does not try to predict the next brick. It only shows the current Renko context.
Inputs
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InpBrickPoints Brick size in symbol points.
InpHistoryTicks Number of recent ticks used to initialize the Renko sequence.
InpShowReversalLine Show/hide the reversal level on the chart.
InpX / InpY Panel position from the upper-right chart corner.
Color inputs Display colors only.
Notes
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– The source is self-contained: no external .mqh libraries are required.
– The sequence is built from Bid ticks when Bid is available; Last is used as fallback.
– Tick history availability depends on the broker/server and local MT5 history.
– This is an educational/context indicator, not a trading system.
Suggested screenshot
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Use a clean XAUUSD chart with a 100- or 500-point brick size. Keep the panel visible in the upper-right corner and the dashed reversal level clearly visible on price.
Suggested CodeBase category
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Indicators / Examples / Renko
