Description

Renko Star MT4 Indicator – Precision Trading on Renko Charts

The Renko Star Indicator for MT4 is a non-repainting, arrow-based trading tool specifically built for Renko chart traders. With a smart backtesting dashboard and built-in ATR-based risk management, it gives clear buy/sell signals and valuable performance stats—making it an ideal tool for both manual traders and strategy testers.

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✅ Renko Star Key Features

• Designed for Renko Charts
  Optimized to work flawlessly on Renko chart types for clean, noise-free signal analysis.

• Clear Buy/Sell Arrows
  Instantly identifies trade opportunities with arrow signals—shown at bar open or intra-bar.

• Accurate Signal Markers
  Yellow price markers show the exact level where the signal was triggered for full transparency.

• Backtesting Dashboard Included
  Real-time stats on win rate, total points gained, and other critical data directly on your chart.

• TP & SL Based on ATR Multiples
  Automatically calculates take profit and stop loss levels using customizable ATR multipliers.

• Non-Repainting & Non-Backpainting
  All signals are confirmed and stay fixed—no redrawing or misleading past performance.

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⚙️ Renko Star Customizable Parameters

• ATR TP – Take profit level multiplier based on ATR.

• ATR SL – Stop loss level multiplier based on ATR.

• ATR Period – ATR calculation period.

• Star Period – Core period setting for signal generation.

• Star Filter – Additional filter for refining signal quality.

• History – Number of Renko boxes used for backtesting.

• Spread – Includes spread in backtest calculations.

• Show Points – Toggle to display profit/loss (in points) for every signal.

• Color Settings – Customize arrows, TP, SL, and marker visuals.

• Alerts – Enable alerts via pop-up, sound, email, or push notification.

• Panel Position – Set where the dashboard appears on your chart.

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📈 How to Use the Renko Star Indicator

1. Wait for a Buy or Sell Arrow
   Follow the arrow direction for trade entry.

2. Use ATR-Based TP & SL
   Set your take profit and stop loss based on the levels shown by the indicator (calculated via ATR).

3. Optimize Settings for Better Performance
   Adjust the input parameters to enhance your strategy. Monitor dashboard stats such as win rate and total points to identify optimal settings.

💡 Tip: Backtest with different settings until you achieve consistent results that you can trust.

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🚫 No Repainting. No Backpainting. 100% Transparent.

All signals are confirmed at the moment they’re generated and never change afterward—giving you full confidence in both live and backtested performance.

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🔗 Additional Resources

• VPS Recommendation: Use a reliable Forex VPS for 24/7 EA uptime and uninterrupted performance.
• Membership Plan: Join our exclusive membership to access premium EAs, updates, and VIP support.
• YouTube Channel: Subscribe to our YouTube channel for EA tutorials, backtests, and trading tips.
• Telegram Channel: Join our Telegram channel for instant updates, new EAs, and community support.

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📌 Conclusion

The Renko Star MT4 Indicator is a powerful and transparent solution for Renko traders who value clarity, real performance tracking, and reliable signals. Whether you’re building a manual strategy or refining your edge, this indicator offers everything you need to make Renko trading smarter and more profitable.