Renko Logic

MetaTrader 5 Renko Expert Advisor - User Guide

Overview

This Expert Advisor implements a complete Renko-based trading system with custom brick calculation, visual display, and automated trading logic.


-The EA only for Rent unlimited Version coming soon.

Features

1. Renko Engine

  • Custom Renko Calculation: Built from scratch, no offline charts needed
  • No Repainting: Uses only closed Renko bricks
  • Configurable Brick Size: Set in points via input parameters
  • Real-time Brick Formation: Automatically detects and creates new bricks

Choosing Brick Size:

  • Forex Major Pairs: 50-150 points (5-15 pips for 5-digit brokers)
  • Gold (XAUUSD): 100-300 points ($1-$3)
  • Stock Indices: Adjust based on point value
  • Crypto: 1000-5000 points (depends on price)

Risk Management Tips

1. Brick Size Selection

  • Smaller Bricks (50-100): More signals, more trades, faster exits
  • Larger Bricks (200-500): Fewer signals, longer trades, bigger moves
  • Test First: Use Strategy Tester to find optimal size

2. Lot Size

  • Start with minimum lot (0.01)
  • Calculate based on account size and brick size
  • Consider that exits are immediate on opposite brick

3. Symbol Selection

  • Best Results: Trending markets with clear directional moves
  • Avoid: Ranging/choppy markets (generates false signals)
  • Recommended: XAUUSD during trending sessions

4. Timeframe

  • EA works on 1min&5min timeframes
  • Recommended: VPS latency under 2ms & raw spread
  • Brick formation depends on price movement, not chart timeframe
  • The news filter only works on real live trade 
  • VERY IMPORTANT Change allowed symbols depending on your broker symbol type for XAUUSD (ex: XAUUSD.s , XAUUSDm......etc)

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The price is gradually increasing up. Only 3 copy remains available at the current price,  next price increase to   $599 . Hello, traders!, the newest and a very powerful Mosquito MT5 of Expert Advisors. My specifically designed to run on the XAUUSD/GOLD pair. Mosquito  EA is more selective and accurate in signal entry and better in managing existing transactions.  Mosquito   MT5 EA analyzes markets based on Trend Following using Bollinger Bands and Moving Average Indicator and also price acti
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