MT4 Forex Trading Software for Median Renko Charts
What is Median Renko?
Median renko is very similar to the standard renko except that the opening price of the new bar is placed in the middle (median) of the previous bar. This is where it gets the name of median renko and the image just above will give you a visual on that. You can see a comparison of renko vs median renko here.
My Thoughts on Median Renko:
After using renko for years to help smooth out the price action and eliminate noise on the lower time frame charts, a vip member here at ElectroFX.com introduced me to median renko. I was really very happy with normal renko at the time but after taking a look I could see the advantage immediately. The median renko, which is also know as mean renko, or better renko, produces a slightly nicer level of smoothing and I couldn’t ignore it. Median renko bridges the gap between renko charts and range charts and provides a great middle ground of the two. Here at ElectroFX median renko is used by all VIP members to clean up the price action of everything below the daily chart. Just like renko, the median renko chart accentuates support/resistance areas.
Where can I get Median Renko Software?
I can only talk about Metatrader 4 as that is the platform that I use but I imagine you can find median renko for any platform. With MT4 there are some free plugins floating around that will do the job, there is an organic version that is included with VIP membership here at ElectroFX.com, and there are some other paid professional versions also. If you search Google for median renko then you will be able to find both free and paid versions easy enough, but I will provide my recommendation below.
Which Median Renko Software is Best?
The professional median renko software provided with VIP membership here at ElectroFX.com is the best median renko plugin I have found. It allows for the sizing of the bars to be organic and self-adjusting and it also has a remote if you wanted to control the median renko size manually. It is extremely efficient on your CPU and performs in a far superior fashion than the free median renko software that you will find around the web. When you sign up for VIP membership here at ElectroFX you will get this software and receive your license code for it via email.
The professional median renko plugin that I use on the EFX VPS machine is the exact same median renko software that I also include with VIP membership. It is the best one around and comes with a 3 PC license so that you can use it on more than 1 machine. If you are a Basic VIP member here at ElectroFX then you will already own this software and have had a license for it emailed to you. If you are a Full VIP member then you will have this professional median renko licensed to your VPS account plus you will have a separate license key for your home machine. If you are not interested in VIP membership but you would like this professional median renko software anyway you can purchase it by itself by following this next link.
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