KT Renko Patterns Robot MT5
- Experts
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KEENBASE SOFTWARE SOLUTIONS
Keenbase Trading develops professional MetaTrader 4 and MetaTrader 5 indicators and Expert Advisors designed to help traders make more informed trading decisions. - Version: 2.1
- Updated: 18 April 2023
- Activations: 10
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. The Renko chart generator by KT Renko Chart Utility will also be available on the strategy tester. In tester, you can select the Renko chart from the custom symbol and backtest on it like a normal chart.
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, ask for the one in the messages.
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.
Q. Why trading positions are not visible on the Renko chart?
A. MT5 handles the Renko chart as a separate symbol. Trading positions will be visible on the normal chart.
