RENKO EA for MT4
I would like you to program this Expert Advisor for mt4. It should perform the following tasks.
1. EA should build an offline renko chart and trade on these renko brick charts when attached. (Include external user defined parameter that allows me to define brick size/length). See attached screenshot of this idea. Attached is a sample Indicator that does this.
2. Indicator should continuously update the renko charts so I can trade manually or attach an expert advisor that will trade for me automatically.
3. Will need to filter the trend with a trend detector indicator like Parabolic Sar (PSAR). So the EA now can be instructed to buy only in uptrend, or sell in downtrend.
4. EA Should build renko charts of say for example 10 pips bar size, however I should be able to change the renko bar/brick size/length value (in pips).
5. EA should have external variable that can allow me to add into winning trades. For example if in profit of say 10 pips and using 10 brick size, EA should be able to open new trade at the close of that 10 pips brick.
6. EA should have external variable that is (true/false). Example, if trend changes, and open trades are in profit, simply exit the Grid and Open opposite direction.
7. LotSize as Fixed Value - the size of the first opened trade
8. Stoploss Buffer (adds to high/low of brick) - the default stop-loss is the highest/lowest of the previous two bricks; add a buffer (pips) and the stoploss will be this distance further from the brick's low/high
9. Take Profit (pips) - Take profit distance in pips.
10. Trailing Stop (pips) - the distance the price has to move in your favor, for the expert advisor to move the stop-loss
11. BreakEven (pips) - the distance the price has to move in your favor, for the expert advisor to trail the stop-loss
12. Slippage (pips) - distance allowed for the price to move from the open/close/trail order to the execution
13. Avoid trading consolidation zones - in case of consolidation zones formed by one bricks (1 up, 1 down and so on), set to true to ignore trading entries
14. Close trade/s at renko change - whether or not to close opened trade/s when the renko brick changes color/direction
15. Minimum profit (0 = disabled) - set to a positive value and the EA should close the trade at renko change only if its profit reached this minimum profit 16. Follow PSAR trend - whether or not to trade with the trend
17. PSAR step, maximum - PSAR indicator settings to determine the trend
18. Martingale Multiplier - set to any positive value is you I want the EA to multiply the lot size of the next trade, after closing a losing trade
That’s all for now. Will appreciate any more improvements and Ideas from you as we work on this project. Thanks and Looking forward to the 1st prototype.