Renko Logic
- Experts
- Ahmed Mohammed Bakr Bakr
- Versão: 1.0
- Ativações: 15
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)
