Renko Full Throttle PRO
A Powerful Solution That Analyze The Renko And The Standard Charts And Filters Out The Noise Or The Narrow Range Moves And Gives Entry And Exit Signals.
A statistics window is included to show the net points gained from these signals taking into considerations the spread of the pair and to evaluate accurately the overall performance.
Advantages It Provides
- A Clear Buy and Sell signals with take profit and stoploss levels.
- A Statistical analysis that offers an accurate image of net gained points.
- Works on all symbols, indices and all time frames.
- Gives you the ability to filter and further improve your trading strategies.
- Never repaints, never backpaints, never recalculates.
- Signals strictly on the "Close of the bar".
- Integrated arrows, sound, pop-up, email, push notification alerts.
- Fully compatible with Expert Advisor (EA) development.
- Very light to the MT4 Platform
- It can be used with either Renko or Standard charts
How To Use It
- Make sure you have enough 1 minute data so the generated Renko chart will have a good history.
- Create your Renko chart.
- Add Renko Full Throttle PRO Indicator to the Renko chart and modify the inputs and filters as you prefer.
- A statistical calculations will give you an accurate figure of the net points gained.
What The Statistical Calculations Offer
- The total number of orders you had over the selected period and the number of closed or open orders.
- The total buy and sell orders separately and the net points gained from all orders and the net points gained from buy or sell orders.
- BarsBack : The number of historical bars to be considered for the analysis.
- Renko Strong Filter : A filter that uses an algorithm to define the noisy market from the trendy one and it can be enabled by true or false option.
- Strong Filter Pips : It's the number of pips used in the filtration process and the large this number the more filtering is done and less orders to be taken.
- Renko Pattern Filter : A filter that uses an algorithm to define certain Renko patterns that support the trendy market and it can be enabled by true or false option.
- Pattern Filter Percent : It's the percent of filtration done to the patterns and the larger the percent the more filtration is done and less orders will be taken.
- Pattern Pips : The minimum number of pips allowed for the pattern and the lower this number the more orders you will have.
- Renko Percent : It controls signals frequency and accuracy and the more it is the more trades it will take.
- Consolidation Degree: It reads the narrow range moves and it accordingly decides how the new stoploss will be and the more it is the higher the stoploss.
- Smoothing Mode : It defines the how smooth will be the consolidation calculations and it can be either 0, 1 or 2.
- Risk Reward : The ratio between the take profit and the stop loss so if its 2 then the TP is double the SL.
- Additional Stop Loss Pips : The additional number of stoploss pips added to the calculated stop loss to allow for some flexibility.
- Spread in Pips : The spread of the pair in pips to be used in the statistics.
- Alerts Settings : Different alerts are included like arrows, sound, pop up, email and push notifications.
- Show Statistics : To allow showing the statistical screen
- Entry and Exit arrow colors: To control all the colors of buy and sell signals and take profit and stoploss arrows.
- X and Y position: To control the place of the note on the chart that show the take profit price of current open orders.
Please check this link .... https://www.mql5.com/en/blogs/post/729219
Kindly Contact us after the purchase and you will get for free :
1- An Expert Advisor for "Renko Full Throttle PRO Indicator" built with all possible options to trade automatically the
2- 10 optimized sets for 10 pairs - Renko charts.
3- 14 optimized sets for 14 pairs - 4H Standard Charts ...(Just released on 11-Sep-2019) with about 9000 pips gain during the last year.
4- 11 optimized sets for 11 pairs - 1H Standard Charts ...with about 8000 pips gain during the last year...
1-Stoploss will be shown on the chart and its called secure SL which means that 50% of time it will not be reached as the SL is reduced with price movements
2-Enhanced the Risk Reward calculations so now it represent the actual Risk reward recorded through all signals
- General improvement to the code for better performance
Version 1.10 Features:
1-A new filter was applied called "Renko Secondary Filter" and its inputs as follows
- Renko Percent : It controls signals frequency and accuracy and the more it is the more trades it will take
- Consolidation Degree: It define the narrow range moves and it accordingly decides how the new stoploss will be and the more it is the higher the stoploss
- Smoothing Mode : It define the how smooth will be the consolidation calculations and it can be either 0, 1 or 2
2-Under Statistics section, a new options called "X Size and Y size" were added to control how wide is the statistics window
3-The stoploss will be Dynamic not at fixed price