Metatrader MT4 Renko bars script for historical and real time off-line charts. Similar to the PeriodConverter.mq4 script.
The script when dropped on a chart makes Renko bars which can be opened in he off line mode as a new chart. Charts are updated in a real time and works as standard MT4 charts. You can put any (custom) indicator or even trade on them.
You can learn about Renko bars following this link: investopedia
This video shows a demonstration of usage of the off-line charts.
Some good Renko info here about patterns How to Trade Using Renko Charts.
Frequently asked questions about application of off-line charts are answered here Off-line charts FAQ.pdf.
The backtesting procedure described in the FAQ is shown on the movie:
A nice Renko mechanical system is presented here. And here is a discussion board devoted to Renko charts trading.