Renko Trading Bot EA
- Experts
- Version: 1.2
- Updated: 26 July 2026
- Activations: 10
Renko Trading Bot EA — Automated Expert Advisor for trading on Renko charts on MetaTrader 5
DESCRIPTION
Renko Trading Bot EA is a fully automated trading Expert Advisor for MetaTrader 5, built on the Renko methodology. At the heart of the system is the principle of building price "bricks": a new brick forms only when price travels a set distance, while ordinary fluctuations and market noise inside that range are ignored. This approach filters out insignificant moves and leaves only the meaningful price moves on which the EA bases its trading decisions.
Renko Trading Bot EA automatically tracks the Renko direction, the current Renko level and the reversal level, and a trading signal is generated at the moment of a confirmed reversal of the brick series. Positions are managed using Smart Risk, Grid Trading, Trailing Stop, Break Even, a combined entry filter, a time filter and built-in trading-condition control mechanisms.
The EA supports netting and hedging accounts and is suitable for trading XAU/USD, Forex, indices, commodities and cryptocurrencies. Renko Trading Bot EA is well suited to traders who automate Renko Trading and trading on confirmed price reversals in MetaTrader 5.
KEY ADVANTAGES
Market-noise filtering — the Renko methodology cuts off insignificant in-range fluctuations and leaves only the meaningful price moves, providing more stable trading logic.
Entry on a confirmed reversal — the signal is generated at the moment the brick series changes direction, not on a random move, which helps avoid premature entries.
Smart Risk — the volume of each subsequent grid order decreases rather than increases, reducing the load on the deposit as the series expands.
Controlled grid trading — its own internal record of grid levels, working equally correctly on netting and hedging accounts.
Adjustable trading frequency — a combined time and distance filter with four modes for rare entries or active operation.
Trading-condition check — before each entry the spread, free margin, trading-session status, time filter and daily trade limit are verified.
Flexible position management — configurable Stop Loss, Take Profit, a dynamic Trailing Stop and a Break Even function.
Visual trade monitoring — an information panel and a visual trade history in real time.
Instrument versatility — gold, currency pairs, indices, energy markets and cryptocurrencies.
MAIN FEATURES
Renko Engine (brick building and reversal detection)
Smart Risk
Grid Trading
Trade Direction
Time Filter
Spread Control
Daily Limit
Stop Loss & Take Profit
Break Even
Trailing Stop
Netting & Hedging
Information Panel
Trade History
HOW THE EA WORKS
Brick building. The EA forms a series of Renko bricks from the current price. A new brick is added only when price travels a distance equal to the brick size (BrickSize). While price moves within this range, no new bricks form and market noise does not affect the logic.
Reversal tracking. For the current direction, the EA calculates the reversal level at the distance set by the ReversalBricks parameter. As long as price keeps moving in the trend direction, the brick series continues. When price crosses the reversal level in the opposite direction, the series direction changes, and at that moment a trading signal is generated.
Signal generation. A buy signal appears on an upward reversal of the series, a sell signal on a downward reversal. Because the signal is tied to a completed brick reversal rather than to an arbitrary in-range fluctuation, the EA does not open trades on random noise.
Trade entry. When a signal has formed and matches the selected direction mode, the general control rules are applied: the interval and distance between trades are checked according to the selected filter mode, along with the current spread, the trading-session status, the time filter, the daily limit and sufficient free margin. If necessary, the volume is automatically adjusted to the broker's requirements. When the CloseOnReversal parameter is enabled, opposite positions may be closed at the moment of the reversal. After opening, the position is managed with a stop loss, take profit, trailing stop and break even, and when grid trading is enabled the EA can add orders as the market moves against the position.
EA PARAMETERS
Renko Settings
RenkoTimeframe — the working timeframe; on start the chart switches to the selected period.
BrickSize — the Renko brick size in points: the distance price must travel to form a new brick. A smaller value makes the system more sensitive, a larger one smoother.
ReversalBricks — the number of bricks required to confirm a reversal: how deep the counter-move must be to change direction and generate a signal.
CloseOnReversal — closing of opposite positions at the moment the brick series reverses.
Lot Settings
LotMethod — the volume calculation method: Fixed Lot or Smart Risk (automatic calculation based on the balance size).
FixedLotSize — the lot size for fixed-volume mode (applies only in this mode).
Grid Trading Settings
UseGrid — enabling grid trading while managing open positions.
GridStep — the distance in points between adjacent grid levels; also used as the minimum distance between entries when the distance filter is active.
MaxGridOrders — the maximum number of orders in one direction during grid operation; limits the cumulative risk.
Trading Direction
TradeDirection — the permitted direction: buy only (BUY), sell only (SELL) or both sides (BOTH). In BOTH mode the direction is determined by the reversal of the brick series.
Stop Loss & Take Profit Settings
StopLoss — the stop loss size in points (0 disables Stop Loss).
TakeProfit — the take profit size in points for automatic profit taking (0 disables Take Profit).
Trailing Stop & BreakEven Settings
TrailingStop — automatic management of profitable positions with a trailing stop.
TrailingStart — the minimum profit in points to activate the trailing stop.
TrailingDistance — the distance in points between price and the trailing stop level after activation.
TrailingStep — the minimum price change for the next movement of the trailing stop.
BreakEven — automatic move of a position to break even.
BreakEvenStart — the profit in points to activate break even.
BreakEvenOffset — the stop loss offset in profit relative to the opening price after the move to break even.
Trading Rules
MaxSpread — the maximum allowed spread in points for opening trades; above this value, opening is temporarily blocked.
MinutesBetweenTrades — the minimum interval in minutes between the opening of new trades.
FilterMode — the entry filter mode: time only, distance only, time OR distance, or time AND distance.
MagicNumber — a unique identifier for the EA's trades.
TradeComment — the comment added to all of the EA's trades.
DailyLimit — a limit on the number of new trades within a trading day.
MaxOrdersPerDay — the maximum number of trades per single trading day.
Time Filter
EnableTimeFilter — enabling the time filter; when the filter is off, trading is allowed at any time.
TradeMonday … TradeSunday — day-of-week switches: trading can be allowed or disallowed for each day (in the broker's server time).
StartHour, StartMinute — the hour and minute of the trading window start.
EndHour, EndMinute — the hour and minute of the trading window end. If the start is later than the end, the window wraps past midnight.
Display Settings
ShowPanel — display of the information panel on the chart.
ShowProfitStats — profit statistics for the day, week, month and the entire operating period.
ShowTradeHistory — display of the trade history directly on the chart.
BuyTradeColor, SellTradeColor — display colours of buy and sell trades.
TradeFontSize — the font size of the trade history labels.
PanelBackColor, PanelTextColor, PanelEditColor — the background, text and value-field colours of the information panel.
SMART RISK
Smart Risk is a mode of automatic position volume calculation based on the balance size. The trade volume grows together with the deposit and decreases when it shrinks, so the load on the account stays proportional to its current state.
The key feature of this mode appears during grid operation: the volume of each subsequent order decreases rather than increases. This fundamentally distinguishes Smart Risk from the classic martingale, where each subsequent order doubles and the load on the deposit grows exponentially.
Calculation example. With a balance of 5,000 USD, the starting volume of the first order is 0.05 lots. As the grid expands, the volume of each subsequent level decreases by one step:
Balance: 5,000 USD
Level 1 — 0.05
Level 2 — 0.04
Level 3 — 0.03
Level 4 — 0.02
Level 5 — 0.01
Level 6+ — 0.01
Thus, instead of increasing the volume, the series is averaged with ever-smaller lots, and the cumulative load on the deposit grows much more slowly than with a martingale.
Before opening any position, the EA checks the available free margin and, if necessary, reduces the volume, bringing it to the broker's allowed lot step.
GRID TRADING
When grid trading is enabled, the EA is not limited to a single position. As the market moves against the open side, it adds new orders at a set step in points, forming an averaging grid. The total number of orders in one direction is limited by the MaxGridOrders parameter.
The EA keeps its own internal record of grid levels and entry prices, so the grid logic works equally correctly on netting and hedging accounts. After the side is fully closed, the internal counter is reset, and a new signal starts a fresh cycle from the first level.
Adding orders in the grid follows the same time and distance filtering rules as the first entry, which makes it possible to control the density of the series and the cumulative risk.
TIME FILTER
The time filter makes it possible to restrict trading to certain days of the week and times of day. It is controlled by the EnableTimeFilter parameter and is disabled by default.
When the filter is enabled, trading is allowed only if both conditions are met: the current day of the week is marked as allowed and the current time is within the specified window. If the window start time is later than the end time, the window is treated as wrapping past midnight. All checks are performed in the broker's server time.
TRADE DIRECTION
BUY ONLY — the EA opens buy trades only; sell signals are ignored.
SELL ONLY — the EA opens sell trades only; buy signals are ignored.
BOTH — both sides are allowed. The direction of a specific trade is determined by the reversal of the brick series: buys on an upward reversal, sells on a downward reversal.
INFORMATION PANEL
When the panel is enabled, the EA displays a summary of its operation in the corner of the chart: profit for the day, week, month and the entire period; BUY Grid and SELL Grid — the current number of grid levels on the buy and sell sides; the entry filter mode; the current Renko direction and brick level; the brick size and grid step; position management parameters (the state of Trailing Stop and Break Even, the Stop Loss and Take Profit values). The panel updates as the EA operates and allows the trading to be monitored without opening additional windows. The background, text and value-field colours are configurable.
TRADE HISTORY ON THE CHART
When history display is enabled, the EA plots completed trades directly on the chart: entry and exit points are marked with arrows in separate colours for buys and sells, the entry and its corresponding exit are connected by a line, and a label with the financial result of the trade, including swap and commission, is shown next to the exit. The history objects are placed so as not to overlap the information panel, and they are automatically rebuilt when the chart is scrolled and its scale is changed.
SETUP RECOMMENDATIONS
The brick size BrickSize and the reversal depth ReversalBricks should be adapted to the specific instrument and its volatility: for more volatile instruments (gold, indices) a larger brick size is usually used, for less volatile currency pairs a smaller one. Before running on a live account, the EA can be tested in the MetaTrader 5 Strategy Tester on historical data, selecting the brick size and management parameters for each instrument and evaluating operation in BUY, SELL and BOTH modes. Since Renko bricks are built from price, real-tick testing mode is recommended for correct testing.
CONCLUSION
Renko Trading Bot EA combines automatic Renko chart building, entry on a confirmed brick reversal, Smart Risk money management and controlled grid trading. The EA is complemented by a combined entry filter, a time filter, a flexible open-position management system and a full set of trading-condition control mechanisms — in a single fully automated trading Expert Advisor for MetaTrader 5. Market-noise filtering, a clear information panel and a visual trade history make the EA's operation transparent and convenient to monitor. Full support for netting and hedging accounts makes it applicable to trading gold, currency pairs, indices, energy markets and cryptocurrencies.
The EA does not guarantee profit. Trading results depend on market conditions, the chosen settings, the broker's conditions and the trader's approach to risk management. Before using it on a live account, be sure to test it in the Strategy Tester and on a demo account.

