RenkoTradingBot

The Expert Advisor forms a virtual representation of Renko chart (no indicators used) and then trades on predefined formations of Renko boxes. An order is opened when a predefined number (SignalSize) of unidirectional Renko bars are formed after reversal.

The EA advantages:

  • No more than one order on a symbol is opened in the market;
  • No martingale, no drawdown, no averaging;
  • Optional stop loss with trailing;
  • Optional management of lot size according to deposit exposure or risk of losses with specified stop loss;
  • Lot management using a dedicated fraction of deposit;

Please note that the expert does not produce Renko charts itself.

For visualization of levels, corresponding to given Renko size, on your work chart, one may use standalone indicators capable of showing grids or horizontal lines on granulated price values.

To analyze of the expert and visualization of Renko charts, one may use standalone indicators or offline experts. One of them is available in the Comment tab of the product.


Parameters

  • Magic - magic number of the expert, default value is 0;
  • LotSize - a lot size for new orders, default value is 0.1; this parameter is ignored, if Exposure or Risk is used;
  • RenkoBox - Renko bar size in points, default value is 100;
  • SignalSize - number of successive unidirectional Renko bars formed after a reversal that opens a trade; default value is 3;
  • MultipleOrders - if true, every subsequent Renko bar formed after SignalSize in previous direction activates an additional order; default is false, i.e. only one open order in the current direction;
  • EquityPart - a value between 0 and 1; a part of free margin, that will be used for lot size calculation by Exposure or Risk; default value is 0, no limitation;
  • Exposure - a value between 0 and 1; an exposure on deposit, used for lot size calculation with respect to the free margin or a part of the free margin specified in EquityPart; default value is 0, the mode is disabled, a fixed lot specified in LotSize is used;
  • Risk - a value between 0 and 1; a measure of risk - an allowable loss amount as a percent of the free margin in the event of the predefined stop loss (StopLossInBoxes); default value is 0, the mode is disabled, a fixed lot specified inLotSize is used;
  • StopLossInBoxes - stop loss size as a ratio of Renko bar size (RenkoBox); for example, if RenkoBox is 300 points, and StopLossInBoxes is 2, then a distance to stop loss is 600; default value is 0, stop loss is not placed;
  • TrailingStop - enable/disable stop loss trailing (StopLossInBoxes should be > 0); default value is true;
  • TakeProfitInBoxes - take profit as a number (fractions allowed) of Renko bars; if 0, no take profit is set;
  • Slippage - slippage in points when orders are executed; default value is 10;
  • RetryCount - a number of attempts to perform a trading operation in case of errors; default value is 5; if the operation failed even after RetryCount attempts, and signal remains, the expert will try to process it on the next tick;
  • AllowCloseBy - allow the use of the OrderCloseBy function; default is true; ignored if the OrderCloseBy function is disabled by the broker;
  • VersionCompatibility (default is 0) - if changed to 1.1, the robot starts working according to the old algorithm from version 1.1 (can be useful to those who have successful settings for the previous algorithm, although it was not canonical);

Recommended timeframes: M15, M30, H1.

"Every tick" mode is required for testing and optimization

Screenshots below demonstrate formation of trading signals and testing results.

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Bazooka EA – Trend & Momentum Expert Advisor for MT4 MT5:  https://www.mql5.com/en/market/product/163078 Important:   We regularly release updated set files in the   Comments   area. Please ensure you are using the most recent version for your backtests and live trading to ensure optimal performance with current market volatility. Bazooka EA is a fully automated Expert Advisor for MetaTrader 4 , designed to trade directional market moves using trend confirmation and momentum filtering . The EA f
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Nauris Zukas
4.6 (10)
Description This product was created as part of a project "PULSE OF MARKET" . EA "Undefeated Triangle" is a system that works with price interaction between AUD, CAD, and NZD currencies. Based on historical observations, these pairs often show correlated movements, where price action may return after strong directional moves. This behavior allows the use of a grid-based approach for managing such situations. EA "Undefeated Triangle" uses only 3 pairs: AUDCAD, AUDNZD, and NZDCAD. MT5 version Adva
Resident
Aleksandr Shurgin
Resident Expert Advisor is a professional trading system designed for trading various currency pairs, metals, and indices. It takes into account the specific price behavior and volatility of the selected instrument. By adjusting the parameters, you can customize the advisor for any trading symbol. The advisor's input signals are calculated using specific data structures and proprietary algorithms. There is no artificial intelligence, machine learning, or quantum technology involved. We use excl
XG Gold Robot MT4
MQL TOOLS SL
4.3 (37)
The XG Gold Robot MT4 is specially designed for Gold. We decided to include this EA in our offering after   extensive testing . XG Gold Robot and works perfectly with the   XAUUSD, GOLD, XAUEUR   pairs. XG Gold Robot has been created for all traders who like to   Trade in Gold   and includes additional a function that displays   weekly Gold levels   with the minimum and maximum displayed in the panel as well as on the chart, which will help you in manual trading. It’s a strategy based on  Price
Forex GOLD Investor
Lachezar Krastev
4.46 (50)
WINTER SALE — FINAL DAYS! Get Forex GOLD Investor with a huge –60% discount AND receive News Scope EA PRO as a FREE BONUS ! Special Winter Price: $217 (Regular Price: $547 — You Save $330!) FREE BONUS: News Scope EA PRO A powerful multi-symbol strategy packed with advanced features, supporting 5 trading pairs — real value: $397! After completing your purchase, simply contact me and I will send you your BONUS EA immediately. Don’t miss this once-a-year opportunity! Forex GOLD Investor is one
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Ever wondered why standard ADX is made unsigned and what if it would be kept signed? This indicator gives the answer, which allows you to trade more efficient. This indicator calculates ADX values using standard formulae, but excludes operation of taking the module of ADX values, which is forcedly added into ADX for some reason. In other words, the indicator preserves natural signs of ADX values, which makes it more consistent, easy to use, and gives signals earlier than standard ADX. Strictly s
This indicator provides the analysis of tick volume deltas. It monitors up and down ticks and sums them up as separate volumes for buys and sells, as well as their delta volumes. In addition, it displays volumes by price clusters (cells) within a specified period of bars. This indicator is similar to VolumeDeltaMT5 , which uses almost the same algorithms but does not process ticks and therefore cannot work on M1. This is the reason for VolumeDeltaM1 to exist. On the other hand, VolumeDeltaMT5 ca
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This is a demo version of a non-trading expert , which utilizes so called the custom symbols feature ( available in MQL as well ) to build renko charts based on historical quotes of selected standard symbol and to refresh renko in real-time according to new ticks. Also it translates real ticks to the renko charts, which allows other EAs and indicators to trade and analyze renko. Place the EA on a chart of a working instrument. The lesser timeframe of the source chart is, the more precise resulti
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Order Book, known also as Market Book, market depth, Level 2, - is a dynamically updated table with current volumes of orders to buy and to sell specific financial instument at price levels near Bid and Ask. MetaTrader 5 provides the means for receiving market book from your broker, but in real time only, without access to its history. This expert adviser OrderBook History Playback allows you to playback the market book events on the history using files, created by OrderBook Recorder . The exper
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Stanislav Korotky
WalkForwardDemo is an expert adviser (EA) demonstrating how the built-in library WalkForwardOptimizer (WFO) for walk-forward optimization works. It allows you to easily optimize, view and analyze your EA performance and robustness in unknown trading conditions of future. You may find more details about walk-forward optimization in Wikipedia . Once you have performed optimization using WFO, the library generates special global variables (saved in an "archived" file with GVF-extension) and a CSV-f
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The indicator calculates running total of linear weighted returns. It transforms rates into integrated and difference-stationary time series with distinctive buy and sell zones. Buy zones are shown in blue, sell zones in red. Parameters: period - number of bars to use for linear weighted calculation; default value - 96; smoothing - period for EMA; default value - 5; mode - an integer value for choosing calculation mode: 0 - long term trading; 1 - medium term trading; 2 - short term trading; defa
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Order Book, known also as Market Book, market depth, Level 2, - is a dynamically updated table with current volumes of orders to buy and to sell specific financial instument at price levels near Bid and Ask. MetaTrader 5 provides the means for receiving market book from your broker in real time. The expert OrderBook Recorder records market book changes and stores them in local files for further usage in indicators and expert adviser, including testing in the tester. The expert stores market book
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This is an adaptive ZigZag based on modification of  HZZ indicator (original source code is available in this article ). Most important changes in this version: two additional indicator buffers added for zigzag evolution monitoring - they show cross signs at points where zigzag direction first changes; zigzag range (H) autodetection on day by day basis; time-dependent adjustment of zigzag range. Parameters: H - zigzag range in points; this parameter is similar to original HZZ, but it can take 0
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This indicator compares the price changes during the specified period for the current symbol and other reference symbol. It allows to analyze the similar movements of highly correlated symbols, such as XAUUSD and XAGUSD, and find their occasional convergences and divergences for trading opportunities. The indicator displays the following buffers: light-green thick line - price changes of the current symbol for TimeGap bars; light-blue thin line - price changes of the reference symbol ( LeadSymbo
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If you like trading by candle patterns and want to reinforce this approach by modern technologies, this script is for you. In fact, it is a part of a toolbox, that includes a neural network engine implementing Self-Organizing Map (SOM) for candle patterns recognition, prediction, and provides you with an option to explore input and resulting data. The toolbox contains: SOMFX1Builder  - this script for training neural networks; it builds a file with generalized data about most characteristic pric
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OrderBook Utilities is a script, which performs several service operations on order book hob-files, created by OrderBook Recorder . The script processes a file for work symbol of the current chart. The file date is selected by means of the input parameter CustomDate (if it's filled in) or by the point where the script is dropped on the chart. Depending from the operation, useful information is written into the log, and optionally new file is created. The operation is selected by the input parame
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This script allows performing a walk-forward analysis of trading experts based on the data collected by the WalkForwardLight MT5 library. The script builds a cluster walk forward report and rolling walk forward reports that refine it, in the form of a single HTML page. This script is optional, as the library automatically generates the report immediate after the optimization in the tester is complete. However, the script is convenient because it allows using the same collected data to rebuild th
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Year2Year
Stanislav Korotky
This indicator shows price changes for the same days in past years. D1 timeframe is required. This is a predictor indicator that finds D1 bars for the same days in past 8 years and shows their relative price changes on the current chart. Parameters: LookForward - number of days (bars) to show "future" price changes; default is 5; Offset - number of days (bars) to shift back in history; default is 0; ShowAverage - mode switch; true - show mean value for all 8 years and deviation bounds; false - s
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Stanislav Korotky
This indicator predicts rate changes based on the chart display principle. It uses the idea that the price fluctuations consist of "action" and "reaction" phases, and the "reaction" is comparable and similar to the "action", so mirroring can be used to predict it. The indicator has three parameters: predict - the number of bars for prediction (24 by default); depth - the number of past bars that will be used as mirror points; for all depth mirroring points an MA is calculated and drawn on the ch
If you like trading crosses (such as AUDJPY, CADJPY, EURCHF, and similar), you should take into account what happens with major currencies (especially, USD and EUR) against the work pair: for example, while trading AUDJPY, important levels from AUDUSD and USDJPY may have an implicit effect. This indicator allows you to view hidden levels, calculated from the major rates. It finds nearest extremums in major quotes for specified history depth, which most likely form resistence or support levels, a
EvoLevels
Stanislav Korotky
The indicator displays most prominent price levels and their changes in history. It dynamically detects regions where price movements form attractors and shows up to 8 of them. The attractors can serve as resistance or support levels and outer bounds for rates. Parameters: WindowSize - number of bars in the sliding window which is used for detection of attractors; default is 100; MaxBar - number of bars to process (for performance optimization); default is 1000; when the indicator is called from
This is an intraday indicator that uses conventional formulae for daily and weekly levels of pivot, resistance and support, but updates them dynamically bar by bar. It answers the question how pivot levels would behave if every bar were considered as the last bar of a day. At every point in time, it takes N latest bars into consideration, where N is either the number of bars in a day (round the clock, i.e. in 24h) or the number of bars in a week - for daily and weekly levels correspondingly. So,
Most of traders use resistance and support levels for trading, and many people draw these levels as lines that go through extremums on a chart. When someone does this manually, he normally does this his own way, and every trader finds different lines as important. How can one be sure that his vision is correct? This indicator helps to solve this problem. It builds a complete set of virtual lines of resistance and support around current price and calculates density function for spatial distributi
The indicator draws a histogram of important levels for several major currencies attached to the current cross rates. It is intended for using on charts of crosses. It displays a histogram calculated from levels of nearest extremums of related major currencies. For example, hidden levels for AUDJPY can be detected by analyzing extremums of AUD and JPY rates against USD, EUR, GBP, and CHF. All instruments built from these currencies must be available on the client. This is an extended version of
StatBars
Stanislav Korotky
The indicator provides a statistic histogram of estimated price movements for intraday bars. It builds a histogram of average price movements for every intraday bar in history, separately for each day of week. Bars with movements above standard deviation or with higher percentage of buys than sells, or vice versa, can be used as direct trading signals. The indicator looks up current symbol history and sums up returns on every single intraday bar on a specific day of week. For example, if current
PriceProbability
Stanislav Korotky
This is an easy to use signal indicator which shows and alerts probability measures for buys and sells in near future. It is based on statistical data gathered on existing history and takes into account all observed price changes versus corresponding bar intervals in the past. The statistical calculations use the same matrix as another related indicator - PointsVsBars. Once the indicator is placed on a chart, it shows 2 labels with current estimation of signal probability and alerts when signal
CCFpExtra
Stanislav Korotky
CCFpExtra is an extended version of the classic cluster indicator - CCFp. This is the MT4 version of indicator  CCFpExt available for MT5. Despite the fact that MT5 version was published first, it is MT4 version which was initially developed and tested, long before MT4 market was launched. Main Features Arbitrary groups of tickers or currencies are supported: can be Forex, CFDs, futures, spot, indices; Time alignment of bars for different symbols with proper handling of possibly missing bars, in
This is a signal indicator for automatic trading which shows probability measures for buys and sells for each bar. It is based on statistical data gathered on existing history and takes into account all observed price changes versus corresponding bar intervals in the past. The core of the indicator is the same as in PriceProbablility indicator intended for manual trading. Unlike PriceProbability this indicator should be called from MQL4 Expert Advisors or used for history visual analysis. The in
The main idea of this indicator is rates analysis and prediction by Fourier transform. Indicator decomposes exchange rates into main harmonics and calculates their product in future. You may use the indicator as a standalone product, but for better prediction accuracy there is another related indicator - FreqoMaster - which uses FreqoMeterForecast as a backend engine and combines several instances of FreqoMeterForecast for different frequency bands. Parameters: iPeriod - number of bars in the ma
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