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KT Renko Patterns Robot MT4

In manual trading, many of the trading setups and opportunities provided by the KT Renko Patterns indicator are missed due to sudden price movements on the Renko charts.

KT Renko Patterns EA solves this problem by implementing a 100% automated trading strategy based on the "KT Renko Patterns indicator". After fetching the patterns formation and signals directly from the indicator, it performs some pre-checks and assessments to efficiently execute the trading positions.

All the dependencies are embedded in the expert advisor. It's not imperative to buy the KT Renko Patterns indicator to operate this EA successfully.

Download the set files for 10 pips Renko box to perform the similar backtests.


Features

  • Go fully automated with the KT Renko Patterns indicator and save tons of time.
  • Fully compatible with our free Renko Chart Generator
  • No additional download is required. All the required dependencies are embedded in the EA.
  • It fetches the stop-loss and profit targets directly from the indicator in the most efficient way.
  • It prints the pattern name with each entry to facilitate the identification of each trade.
  • Further boost the EA performance using the inbuilt filters like Session-Filter, MMI, Vortex, Volatility, Market Regime and more.
  • Flexible stop-loss trailing to prevent the winners from turning into losses.
  • Protection against the black swan events using the max. loss function.


Input Parameters

  • ----- Renko Pattern Settings -----
  • Min. Bars Between Patterns: The number of min. bars between each pattern. 
  • W-M Pattern: true/false
  • Power Pennant Pattern: true/false
  • AB=CD Pattern: true/false
  • Triple Top/Bottom Pattern: true/false
  • Double Top/Bottom Pattern: true/false
  • Two-Back Brick Pattern: true/false
  • ZigZag Pattern: true/false
  • Swing Breakout Pattern: true/false
  • Draw Pattern Names: If true, EA will draw the pattern name with each new trade.

  • ----- Trade Settings -----
  • Max. Active Positions: The no. of maximum active positions in the same direction.
  • Exit at Opposite Pattern: If true, positions will be closed at the patterns in opposite direction.
  • Lot Size Method: Fixed or Auto

  • ----- Exit Settings -----
  • Stoploss Method: Pips/Volatility/Fetch from indicator
  • Take-Profit Method: Pips/Volatility or TP1/TP2/TP3 from the indicator
  • SL Trailing Method: Pips/Volatility

  • ----- Set the Filters -----
  • Trading Sessions:  All | Asian | London | New York | Asian-London | London-New York | New York-Asian
  • Trend Filter:  True | False 
  • Volatility Filter:  True | False 
  • Vortex Filter:  True | False 
  • MMI Filter: True | False 

  • ----- Miscellaneous Settings -----
  • Max Loss Protection:  True | False 
  • Logging:  True | False  (EA logs all its operation in the journal tab)


FAQs

Q. How to backtest this EA? 

A. It is possible to backtest the EA on a Renko chart using MT4, but it will require third-party libraries. We recommend the MT5 version for backtesting as the chart generated by KT Renko Chart Generator will also be available on the strategy tester. You can even download the free demo of the MT5 version for backtesting and then buy the MT4 version for live trading.


Q. Does it also draw Renko patterns on the chart like the indicator?

A. The EA marks the pattern's name with each trade, but it cannot draw the patterns like the indicator. To view the complete pattern formations, you may consider purchasing the KT Renko Patterns indicator.


Q. Why it's making my PC slow?
A. Make sure you are using a well-optimized Renko utility to build the Renko charts. If you don't have it already, use the KT Renko Live Chart Utility.


Q. Does it work on standard time-based charts?
A. This EA is explicitly developed for the Renko charts. It can work on the standard time-based chart but is not recommended as it defeats this EA's whole purpose.

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Seize this limited-time opportunity: secure your exclusive introductory price now – only this weekend (ends 11. June 2023)! Live Account - Link 1 / Link 2 Introducing Dragon Prodigy: The Premier Forex Trading System for GBPJPY H1 Unlock the potential of a one-of-a-kind, non-over-optimized system engineered for peak profitability and dependability. Developed using data spanning 1987 - 2017 and stability-tested on entirely unseen data from 2017 - 2023. Welcome to the world of Dragon Prodigy,
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Ai GbPUsD MT4
Tais Miranda Hoffmann
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Auto Recovery Manager is a system for tracking and recovering drawdown from other Expert Advisors. If another EA generates the specified drawdown, ARM will turn it off, lock the position and start the process of restoring the position using a partial close. The EA uses smart averaging, locking and partial closing in its trading. It has an automatic dynamic tuning system. This means that the trader needs to choose the levels of risk to be used, and the EA will adjust the variables on its own. To
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Ziwox Fundamental Trader Ziwox Fundamental trader is a trading assistant that helps financial markets traders reach smart decisions informed by the EA information data. This EA uses online sources to catch necessary information like the fundamental bias of currencies, Sentiment of retail traders ratio on a pair, Bank and institute forecast, COT report data, and other data in a complex EA pannel. Briefly, It's an integrated forex data source and information, that helps Manual traders to make b
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Aura Black Edition
Stanislav Tomilov
4.5 (8)
Aura Black Edition is a fully automated EA designed to trade GOLD only. Expert showed stable results on XAUUSD in 2011-2020 period. No dangerous methods of money management used, no martingale, no grid or scalp. Suitable for any broker conditions. EA trained with a multilayer perceptron Neural Network (MLP) is a class of feedforward artificial neural network (ANN). The term MLP is used ambiguously, sometimes loosely to any feedforward ANN, sometimes strictly to refer to networks composed of mult
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ApexBot MT4
Andrey Barinov
ApexBot is a professional trading solution based on advanced Patterns Recognition techniques with the elements of Machine Learning and Neural Networks. ApexBot calculates and shows on chart future price move predictions and trades based on them. Only one trade at a time. No Grid. No Martingale. Every trade has Stop Loss and Take Profit from very beginning, and they do not change. Optional Break-Even and Trailing Stop functions. ApexBot includes multiple money management options, time filters
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EA Thomas
Vitali Vasilenka
4.68 (57)
EA Thomas is a unique trading algorithm that includes 5 trading advisors at the same time. The EA simultaneously analyzes 5 entry points on different timeframes, depending on the level of risk, chooses one of the 5 to open in the market. The EA features allow you to choose which trading strategies will be active to search for entry points and on which timeframes. Telegram channel of our community (  Instructions + Settings   )  -   https://t.me/EAQuantumLab   Real signals are available here
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Bogdan Ion Puscasu
5 (8)
Introducing   Quantum Trade EA , the groundbreaking MQL5 expert advisor that's transforming the way you trade the prestigious GBPUSD pair! Developed by a team of experienced traders with trading experience of over 13 years, Quantum   Trade   EA is designed to propel your trading journey to new heights with its innovative and dynamic breakout zone strategy. ***Buy Quantum Trade EA and you could get Quantum Index EA for free !*** Quantum EAs channel: Click Here Live monitoring here : CLI
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SuperBot EA
Enrique Enguix
5 (9)
MOST WILL NOT READ ALL THIS... ...I WOULDN'T EITHER... ….THESE TEXTS ARE VERY BORING … ...AND WHEN YOU READ IT YOU REALIZE THAT THEY ARE NOT USEFUL FOR ANYTHING... BUT THERE ARE A FEW THINGS YOU SHOULD KNOW YES OR YES: 1. Superbot  opens  market operations.  W hat market?  The FOREX (exchange of currencies.) 2. In addition to opening them, also  close . All   automatic   . 3. Superbot tries to follow the   trend   market, but you can configure it to do the opposite. 4. If you
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MagicWay MT4
Evgeniy Zhdan
5 (5)
MagicWay is an automatic trading system that uses patterns in the behavior of three currency pairs. Market trading transactions of three different instruments complement each other, bringing their results to a common goal. The default settings are suitable for getting started without modification. Signals: MT4:   https://www.mql5.com/en/signals/1620204 MT5:   https://www.mql5.com/en/signals/1620214 This is a multi-currency Expert Advisor - when installed on one chart, the Expert Advisor works
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Version 2.1 2021.06.16
Fixes the error/bug that says "indicator is too slow".
Version 2.0 2021.01.19
- Addresses some bugs.
- EA now draws the name for each pattern irrespective of a trading position.
- EA now includes the pattern name in the order's comment.
- source code optimization for faster execution.