This is a full-fledged Expert Advisor trading by renko bars. Renko bars are simulated inside the EA allowing for high-quality optimization. Orders are opened in the direction of the last simulated bar. The renko bar size is defined by RenkoBarSize. The step of each subsequent position is equal to step above or below the already opened position. The EA trades well both during trends and flats.
The EA strategy is based on simulating renko bars for defining a trend and its duration. The signal is then sorted by Parabolic SAR, Moving average, Moving average2 and Heiken Ashi filters. The EA features the ability to limit trading by time.
The application of two MA filters allows applying a trading strategy based on two MA (fast and slow MA) and renko bars.
Trailing stop, fixed stop and Time Outs and Targets Settings target-time position closing system are applied for closing trades. Besides, all positions can be closed upon reaching a certain profit or loss: CloseOnProfitBuy(sell) and CloseOnLossBuy(sell).
The EA does not display the renko chart!
Advisor works only on the MetaTrader 5 hedge accounts!
- RenkoBarSize - renko candle size (10-300).
- Maximum positions count - the maximum number of positions opened at a time.
- Count bars wait before open position - the number of renko bars that must be formed before opening a position. For example: if set to 2, then 2 bullish or bearish bars must be formed before other entry conditions are checked.
- Lot - trading lot.
- enable risk management - enable/disable risk management.
- risk in percentage of the account - risk value for management.
- Stoploss - stop loss (20-750).
- Takeprofit - take profit (20-750).
- MagicBuy - magic number for buying.
- MagicSell - magic number for selling.
- Close on profit(total) - close all trades in case of a total profit (in deposit currency).
- Close on profit(Buy) - close in case of a profit at all buy positions (in deposit currency).
- Close on profit(Sell) - close in case of a profit at all sell positions (in deposit currency).
- Close on loss(total) - close in case of a loss at all positions (in deposit currency).
- Close on loss(Buy) - close in case of a loss at all buy positions (in deposit currency).
- Close on loss(Sell) - close in case of a loss at all sell positions (in deposit currency).
- Step between positions - step between open positions: approximate value from 20 to 200.
- UseTrailing - enable/disable trailing of profit.
- Start trailing on profit - value in the deposit currency to start trailing profit.
- Step trailing on profit - trailing step in the deposit currency.
- CloseOnRevers - close all positions when an opposite renko candle appears.
- Traiding start time - trading start hour (0-23).
- Traiding end time - trading end hour (0-23).
- Moving average parameters (fast МА)
- UseMa - apply МА filter.
- MaPeriod - МА period: approximate value from 1 to 100.
- MaPrice - MA parameters.
- MaMethod - moving average type.
- MaShift - МА shift.
- MaStep - МА step.
- CloseOnMa - close all positions if a renko candle crosses МА.
- Moving average1 parameters (slow МА)
- UseMa1 - apply МА filter.
- MaPeriod1 - МА period: approximate value from 102 to 260.
- MaPrice1 - MA parameters.
- MaMethod1 - moving average type.
- MaShift1 - МА shift.
- MaStep1 - МА step.
Attention! The value of MA1 must be greater than MA.
- Filter parameters relative to Heiken Ashi indicator
- UseHaFilter - enable/disable the Heiken Ashi filter.
- ShowHa - display/hide Heiken Ashi.
- Filter parameters relative to Parabolic SAR indicator
- UseSarFilter - enable/disable the Parabolic SAR filter.
- SarStep - Parabolic SAR indicator value (0.01-1).
- SarMaximum - Parabolic SAR indicator value (0.01-1).
- Time Outs and Targets Settings parameters
- usetimeout - close positions by Time Outs and Targets Settings.
- timeout1 - time interval for closing a position (1-300).
- target1 - target value for closing a position by timeout (from -25 to 25). The value may be negative to close unprofitable positions.
- timeout13 - time interval for closing a position (1-300).
- target13 - target value for closing a position by timeout (from -25 to 25). The value may be negative to close unprofitable positions.
The EA achieves good results if optimized for the last two-three months and passing through a forward test for 1/4 of the period.
Chart timeframe to attach the EA: M1. Any currency pair.
Good luck and profits!