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RenkoExpert mt4

This is a full-fledged Expert Advisor trading by renko bars. Renko bars are simulated inside the EA allowing for high-quality optimization. Orders are opened in the direction of the last simulated bar. 

The EA strategy is based on simulating renko bars for defining a trend and its duration. The signal is then sorted by Parabolic SAR, Moving average, Moving average2 and Heiken Ashi filters.

The application of two MA filters allows applying a trading strategy based on two MA (fast and slow MA) and renko bars.

Trailing stop, fixed stop and Time Outs and Targets Settings target-time position closing system are applied for closing trades.

Version for mt5

The EA does not display the renko chart!



Parameters

  • Trade Order Type-Trade orders type
  • OnlyLimit- Only limit orders
  • OnlyStop-Only stop orders
  • TimeExpiration -Time live pendings orders (seconds) 240 seconds minimum
  • DistanceStop -Distance from price to pendings orders(Stop)
  • DistanceLimit -Distance from price to pendings orders(Limit)
  • RenkoBarSize - renko candle size (10-1000).
  • Maximum positions count - the maximum number of positions opened at a time.
  • Count bars wait before open position - the number of renko bars that must be formed before opening a position. For example: if set to 2, then 2 bullish or bearish bars must be formed before other entry conditions are checked.
  • Lot - trading lot.
  • enable risk management - enable/disable risk management.
  • risk in percentage of the account - risk value for management.
  • Stoploss - stop loss (20-750).
  • Takeprofit - take profit (20-750).
  • MagicBuy - magic number for buying.
  • MagicSell - magic number for selling.
  • Close on profit(total) - close all trades in case of a total profit (in deposit currency).
  • Close on profit(Buy) - close in case of a profit at all buy positions (in deposit currency).
  • Close on profit(Sell) - close in case of a profit at all sell positions (in deposit currency).
  • Close on loss(total) - close in case of a loss at all positions (in deposit currency).
  • Close on loss(Buy) - close in case of a loss at all buy positions (in deposit currency).
  • Close on loss(Sell) - close in case of a loss at all sell positions (in deposit currency).
  • Step between positions - step between open positions: approximate value from 20 to 200.
  • UseTrailing - enable/disable trailing of profit.
  • Start trailing on profit - value in the deposit currency to start trailing profit.
  • Step trailing on profit - trailing step in the deposit currency.
  • CloseOnRevers - close all positions when an opposite renko candle appears.
  • Traiding start time - trading start hour (0-23).
  • Traiding end time - trading end hour (0-23).
  • Moving average parameters (fast МА)
    • UseMa - apply МА filter.
    • MaPeriod - МА period: approximate value from 1 to 100.
    • MaPrice - MA parameters.
    • MaMethod - moving average type.
    • MaShift - МА shift.
    • MaStep - МА step.
    • CloseOnMa - close all positions if a renko candle crosses МА.
  • Moving average1 parameters (slow МА)
    • UseMa1 - apply МА filter.
    • MaPeriod1 - МА period: approximate value from 102 to 260.
    • MaPrice1 - MA parameters.
    • MaMethod1 - moving average type.
    • MaShift1 - МА shift.
    • MaStep1 - МА step.

Attention! The value of MA1 must be greater than MA.

  • Filter parameters relative to Heiken Ashi indicator
    • UseHaFilter - enable/disable the Heiken Ashi filter.
    • ShowHa - display/hide Heiken Ashi.
  • Filter parameters relative to Parabolic SAR indicator
    • UseSarFilter - enable/disable the Parabolic SAR filter.
    • SarStep - Parabolic SAR indicator value (0.01-1).
    • SarMaximum - Parabolic SAR indicator value (0.01-1).
  • Time Outs and Targets Settings parameters
    • usetimeout - close positions by Time Outs and Targets Settings.
    • timeout1 - time interval for closing a position (1-300).
    • target1 - target value for closing a position by timeout (from -25 to 25). The value may be negative to close unprofitable positions.
    • ...........
    • ...........
    • timeout13 - time interval for closing a position (1-300).
    • target13 - target value for closing a position by timeout (from -25 to 25). The value may be negative to close unprofitable positions.

Chart timeframe to attach the EA: m1. Any currency pair. Default setting EURUSD

Good luck and profits!


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