Renko Star is an MT4 arrow-type indicator specifically designed for trading Renko charts. This powerful indicator features a backtesting dashboard that provides traders with essential information such as win rate and points won. Additionally, it offers TP (Take Profit) and SL (Stop Loss) levels based on ATR (Average True Range) multipliers.

Renko Star signals are generated either at bar open or intra-bar, marked precisely with a yellow indicator showing the exact price of the signal. To use this indicator, traders should open buy or sell positions according to the arrows provided by the indicator and set the TP and SL levels as suggested. Adjusting the indicator settings can yield varying results, so it is crucial to fine-tune them until achieving reliable backtesting outcomes on the dashboard.

Importantly, Renko Star does not repaint or backpaint, ensuring the accuracy and reliability of past signals.

Key Parameters:

1. ATR TP: TP value based on ATR
2. ATR SL: SL value based on ATR
3. ATR Period
4. Star Period
5. Star Filter
6. History: Amount of history for backtesting
7. Spread: Uses spread in backtesting calculations
8. Show Points: If set to true, displays the results of every signal in points
9. Colors: Customizable colors for arrows, TP, and SL
10. Alert Settings
11. Panel/Dashboard Position