Need EA for Renko indicator
I put the indicator on the chart to have a look and what i can say is that it gives a lot of bad signal, even on higher TFs. Do u have any experience on using this indicator for trading?
It lags behind a bit and it looks bad to the naked eye, but remember what often looks good is curve fit to past data and works bad on future data.
Ill have a look at it.
Yes it lags. You can see for example one bleu brick, then two, ..., then four and to end up with two bricks. But what IS true is that when you see a reversal. If anyone could make an EA to open position when reversal shows up and to take profit at next reversal or when there are 5 bricks in a row.
Can you help me with this?
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Hello,
I use renko indicator in my trading. Can anyone make a simple EA.
Go long when bricks reverse from red to blue. Exit on reversal to red.
Go short when bricks reverse from blue to red. Exit on reversal to bleu.
Close all positions 5 minutes before end of a trading day.
Always open position in so much lots, so that 2 bricks (reversal) is approximately 3% of all capital
Can enyone help me with this?