Basic Renko EA
*** Please note that it is required that the hired developer have past experience not only with Renko but with success in entry and exit points in Renko. Issues have been had with poor entries.
This EA is simple in nature below are the User fields for entry
· MM: True/False
o If True, EA will use “Bars to Enter Trade” and “Bar Size” to calculate MM.
o If False, EA will use “Manual Lot Size”
· Risk: User Defined
o 1 would be 1 percent
· Manual Lot Size: User Defined
· Trailing SL: User Defined (In Pips)(If zero, not used)
o This will not be used for MM but rather a hard Trailing stop on the order to back up in case of a failure of the EA.
· Bar Size: User Defined (in pips)
o User will place the bar size he/she is using on the chart so proper MM can be calculated
o This value may possibly be used to ensure of proper execution of entries and exits.
§ Example: If user places “10” in this field, that will stand for 10 pips or 100 ticks. This could be used by the program to know that an entry or exit will only occur at whole values such as 1.32400, 1.32500, 1.32600, etc.
· Same Bars to Enter Trade: User Defined
o This value will be used to indicate when a trade will enter.
§ Example: If the user places 2 in this field, then there must be 2 closed and complete bars to enter a trade.
· Same Bars to Exit Trade: User Defined
o This value will be used to indicate when a trade will exit.
· Bar Range Needed to Enter Trade: User Defined
o This value is used to control how many bars are needed (up and down) in order for a trade to be valid. This works in conjunction with the next parameter “Number of Past Bars to Evaluate”
· Number of Past Bars to Evaluate: User Defined
o This value is used to look up and evaluate how many past bars should be used to evaluate the Range. See example below:
o *** A range box was used my last developer to work with “Bar Range Needed to Enter Trade” and “Number of Past Bars to Evaluate”
o Let us use a scenario:
§ Same Bars to Enter Trade: 2
§ Same Bars to Exit Trade: 2
§ Bar Range needed to Enter Trade: 4
§ Number of Past Bars to Evaluate: 6
§ ***Please note that in the image below that the 30 and 40 pips should just be bars rather than pips.
· Opposing Bar to Reset trade: True/False
o This setting when true would require an entry to be valid only after a reversal has been recorded by the EA. This will only used when getting the EA started on a fresh chart in that it would take a trade in the middle of a long run if “Same Bars to Enter Trade” is met.
§ Example: When true: All above conditions would need to be met AND a reversal would have to be seen, this could be one red followed by two green or one green followed by two red.
· Friday Open New Trades: True/False
o If False, the EA will not take any new trades starting Friday and will close any positions only if conditions are met.
Issues: Issues so far have been execution, I want a new and simple EA that executes trades where I want which would be at the closing and opening of a new renko Bar and not in the middle of one. See Examples below:
You can see how there are a lot of floating a non-accurate entries and exits here. I need precise execution. I would also like to have arrows indicating buys and sells with tracers. This EA must also be able to be back tested on Renko Charts.
Again, Execution is the name of the game here. Thank you for your time!