EaRenkoBandsMaDV

The Expert Advisor displays on a chart renko bars, Bollinger Bands and Moving Average indicators drawn based on Close prices. The EA opens and maintains trades based on divergence. Price peaks are determined when renko bars exit outside the Bollinger bands and move back.

A sell trade is opened when the next price peak exists the borders of the upper Bollinger band and is higher than the previous one, and the divergence between the middle Bollinger line and the moving average is less than the point of the previous peak. Opposite conditions should be met to open a buy trade. Examples of signals are shown in screenshots.

Parameters specified in points are given for 4-digit quotes. The values should be multiplied by 10 for 3- and 5-digit quotes.

Parameters

• RenkoBar - size of renko bars in points;
• CountBars - limit on the number of bars displayed in the chart;
• bearColor - bearish renko bar color;
• bullColor - bullish renko bar color;
• hideBars - hiding standard bars from the chart;
• MaPeriod - moving average period;
• MaColor - moving average color;
• BandPeriod, BandDev - Bollinger settings;
• BandMin - distance between the upper and lower Bollinger bands in points;
• UseDvCancel - canceling the divergence signal if the price before the previous peak moves outside the opposite line;
• BandColor - color of Bollinger bands;
• priceDiff_factor - minimum divergence of price peaks (in renko bars);
• SignalBuyColor, SignalSellColor - colors of arrows for buy and sell signals;
• isDrawing - allow drawing renko bars and indicators on the chart;
• startLot - fixed lot value;
• MaxRisk_percent - percent for the calculation of trading volume based on the available free margin (cancels startLot);
• stopLoss_factor - stop loss setting level (multiplier applied to the distance between the upper and lower Bollinger bands);
• takeProfit_factor - multiplier for the take profit value (applied to stop loss);
• minProfit_percent - percent of profit (from the free margin), after reaching which position will be partially closed;
• minProfit_factor - partial position closure value;
• maxLoss_percent - loss % (of the remaining free funds), at which a position is partially closed;
• maxLoss_factor - partial closing value of a position in case of a loss;
• noLoss_percent - percent of profit (from the free margin), after reaching which position will be moved to breakeven;
• noLoss_factor - price level (from the stop loss value), where the deal should be moved to breakeven;
• TraiStop_level - trailing stop value (based on the distance between Bollinger bands);
• trailStep - trailing step in points;
• DualOrders - allow opening buy orders when active sell deals are present and vice versa;
• NumOrders - limiting the number of orders in one direction;
• UseNoLossSignal - allowing moving a trade to breakeven if the price crosses the opposite band;
• UseMinProfitSignal - allowing partial closure if the price crosses the opposite band;
• UseStopSignal - allow closing a trade to if the price crosses the opposite band;
• CloseOnRevers - close trades if an opposite signal has appeared;
• CheckMinMax - checking the minimum and maximum level of a deal (above the maximum only sell trades can be opened, below the minimum - only sell trades);
• orders_min_step_factor - minimum distance between orders in the same direction in renko bars;
• NumCloseAll - minimum number of orders to close with a total profit;
• PercentCloseAll - minimum amount to close at a total profit as percent of free margin;
• ArbitrageNumCloseAll - minimum number of orders to close with a total profit (trades on all instruments with the given magic);
• ArbitragePercentCloseAll - minimum number of orders to close with a total profit as percent of free margin (deals of all symbols with the given magic);
• timeStart - trading start hour;
• timeEnd - trading end hour;
• slippage - allowable slippage in points;
• MAGIC - magic number;
• useFIFO_Rules - implement NFA rules for the most early trades to be closed in the first place.