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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