Introduction to the Renko Ashi Trading Filter Indicator
The Renko Ashi Trading Filter Indicator displays buy/sell arrows based on Renko bars and Heiken Ashi candles. It shouldn’t be used as a standalone trading tool, but rather as a filter or supplement to a trading system for trade entry points provider.
The Renko Ashi Trading Filter Indicator fits all kinds of timeframes and currency pairs. It is displayed directly over the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Renko Ashi Trading Filter indicator in MT4?
Download the Renko Ashi Trading Filter.rar archive at the bottom of this post, unpack it, then copy and paste the Renko Ashi Trading Filter.ex4 or Renko Ashi Trading Filter.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Renko Ashi Trading Filter indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Renko Ashi Trading Filter Indicator
To download the Renko Ashi Trading Filter Indicator for Metatrader 4 (MT4) for free just click the button below:
Renko Ashi Trading Filter Indicator Free Download