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Renko EA
I need an EA based on a renko overlay indicator. I can send the indicator code as soon as the job is agreed upon.
Strategy 1 - Just uses Renko Overlay 1
Strategy 2 - Uses a larger Renko Confirm Overlay 2 to confirm direction of trades of Renko Overlay 1
I have pictures of the strategy I use in Tradingview to give you an idea.
Renko Overlay
EA uses renko indicator for signals for trades
Strategy 1 (does not use Confirm Renko Overlay)
Renko Brick Overlay 1
Renko Overlay 1 Up = enter long / exit all shorts
Renko Overlay 1 Down = exit all longs / enter short
Strategy 2
Renko Confirm Overlay 2 confirms up tend or down trend (Renko Confirm must be larger than Renko Brick Overlay 1)
If Renko Confirm Overlay 2 is up bar start longs
Renko Overlay 1 Up = enter long
Renko Overlay 1 Down = exit all longs
If Renko Confirm Overlay 2 is down bar
Renko Overlay 1 Down = enter short
Renko Overlay 1 Up = exit short all shorts
EA Settings
Renko Settings
Renko Brick Size = size of Renko brick
Number of Renko Bricks For Trade = Number of renko bricks that must be formed before before trades begin 0=trades start immediately as soon as signal to trade is given. If =1 then there must be one renko brick formed in the direction of the up or down renko brick before trades start. If =2 then there must be 2 bricks formed… so on and so on
Confirm Brick = Uses second larger brick size to filter long or shorts. If TRUE filter is on, if FALSE then no filter is used.
Confirm Brick Size = Size of confirm brick (must be bigger than renko brick size)
Money Management
Fixed Lots=true Risk=false
Fixed Lots = Each trade will be the same fixed lot size
Risk= Percent of Account for each trade (if account is $1000 and risk is 10 then the trade will be $100)
Trades
Number of Trades = Number of trades taken (1 trade on each brick, so there will be a trade on each brick moving in the same direction. So when the next bar up it will enter another trade until number of trades is reached)
Close Trades
Stop Loss = Size of stop loss, each trade gets its own stop loss (0 = no stop loss)
Trailing Stop Loss = Size of trailing stop loss, each trade gets its own trailing stop loss (0 = no trailing stop loss)
Take Profit = Size of take profit, each trade gets its own take profit. (if 0 = no take profit and all trades will be closed on renko direction change)
EA Settings | |
Renko Brick Size | 25 |
Number of Renko Bricks For Trade | 0 |
Confirm Brick True or false | TRUE |
Confirm Brick Size (must be bigger than renko brick size) | 50 |
Money management | |
Fixed Lots=true Risk=false | TRUE |
Fixed Lots | 0.1 |
Risk (percent of account) | 5 |
Trades | |
Number of Trades | 1 |
Close Trades | |
Stop Loss (0 = no stop loss) | 25 |
Trailing Stop Loss (0 = no trailing stop loss) | 50 |
Take Profit (0 = no take profit) | 150 |