SMT Renko Trader
- Uzmanlar
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Muhammad Ashraf
Hello! I'm a professional algorithmic trader and MQL5 developer specializing in automated trading systems for Forex and Gold (XAUUSD). I have more than 6 years of experience in this. My focus is on developing reliable Expert Advisors that combine adaptive market analysis, intelligent trade - Sürüm: 1.14
- Etkinleştirmeler: 5
SMT Renko Trader MT5 is an automated Expert Advisor designed to trade momentum shifts based on synthetic Renko brick direction flips. By filtering out market noise and consolidation, the EA identifies clean trend reversals driven by Average True Range (ATR) dynamics.
Unlike standard time-based charts, Renko structures isolate pure price movement. SMT Renko Trader continuously calculates synthetic Renko brick bounds in real time using an integrated ATR volatility engine, executing buy or sell orders immediately when a direction reversal is confirmed on a bar close.
Key Features
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ATR-Driven Synthetic Renko Engine: Dynamically adapts brick size based on market volatility—eliminating the need for custom offline chart setups.
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Flexible Opposite Signal Modes:
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Close & Reverse: Closes existing positions and immediately opens a trade in the new direction.
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Close Only: Exits current trades when a flip occurs without opening a new position.
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Do Nothing: Holds active trades until Stop Loss or Take Profit levels are reached.
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Built-in Consecutive Signal Filter: Option to skip consecutive signals in the same direction to prevent over-trading in choppy conditions.
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Advanced Risk & Money Management:
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Fixed lot size mode or dynamic risk percentage calculation per trade.
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Customizable Stop Loss and Take Profit levels in points.
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Capital Protection Tools:
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Integrated Break-Even locking mechanism once profit target is reached.
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Dynamic Trailing Stop to lock in profits during strong runaway trends.
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Universal Compatibility: Fully compatible with all major forex pairs, metals, indices, and crypto instruments across any broker setup (automatically adjusts to broker filling modes and stop levels).
Recommended Setup
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Symbol: XAUUSD (Gold)
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Timeframe: M1, M15, or M15 (Signals evaluate on bar close).
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Account Type: ECN / Low Spread broker recommended.
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Minimum Deposit: $500 USD Min and $1000 recommended
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VPS: Recommended to run 24/7 on a low-latency Forex VPS.
These settings are designed for XAUUSD (Gold) and can provide stable performance when used with the appropriate strategy and proper risk management. Always test them on a demo account before using them on a live account.
Renko Engine
- Renko ATR Length (Brick Size Source): 10
- Signal Filter: Use All Signals
Trade Management
- Fixed Lot Size: 0.01
- Use Risk-Based Auto Lot Sizing: False
- Risk % per Trade: 1.0
- Stop Loss: 500 points
- Take Profit: 1000 points
- Use Stop Loss / Take Profit: True
Opposite Signal
- Action on Opposite Signal: Do Nothing
Trailing Stop
- Enable Trailing Stop: True
- Trailing Start Target: 150 points
- Trailing Stop Distance: 10 points
- Trailing Step: 10 points
Break Even
- Enable Break Even: False
- Break Even Trigger: 200 points
- Points Locked Beyond Entry: 20 points
Entry Mode
- Maximum Simultaneous Trades: 1
General
- Magic Number: 55210
- Trade Comment: SMT_Renko
Important Note
These settings are considered important for trading Gold (XAUUSD) and may produce good results when used with the correct strategy, suitable market conditions, and disciplined risk management. However, no settings can guarantee profits, because financial markets are unpredictable. It is strongly recommended to optimize and forward-test the settings with your broker and account type before trading with real money.
These settings are designed for XAUUSD (Gold) and aim to capture larger market moves. They may offer higher profit potential, but they also involve higher risk. Always backtest and test on a demo account before using them on a live account.
Renko Engine
- Renko ATR Length (Brick Size Source): 10
- Signal Filter: Use All Signals
Trade Management
- Fixed Lot Size: 0.01
- Use Risk-Based Auto Lot Sizing: True
- Risk % per Trade: 0.1%
- Stop Loss: 500 points
- Take Profit: 1000 points
- Use Stop Loss / Take Profit: True
Opposite Signal
- Action on Opposite Signal: Do Nothing
Trailing Stop
- Enable Trailing Stop: True
- Trailing Start Target: 150 points
- Trailing Stop Distance: 10 points
- Trailing Step: 10 points
Break Even
- Enable Break Even: False
- Break Even Trigger: 200 points
- Points Locked Beyond Entry: 20 points
Entry Mode
- Maximum Simultaneous Trades Allowed: 1
General
- Magic Number: 55210
- Trade Comment: SMT_Renko
Important Note
These settings are intended for Gold (XAUUSD) and are optimized for higher profit potential. While they can perform well under suitable market conditions, they do not guarantee profits. Market conditions change, and every trade carries risk. Always use proper risk management, backtest thoroughly, and practice on a demo account before trading live.
Trade smart, manage your risk, and focus on long-term consistency rather than guaranteed returns.
To get the best experience with this strategy, choose a reliable broker that offers:
- Low spreads
- Fast order execution
- Low latency
- Stable trading servers
- Good support for Expert Advisors (EAs)
Recommended Brokers
| Broker | Low Spreads | Fast Execution | EA Friendly | Overall |
|---|---|---|---|---|
| IC Markets | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| Exness | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| XM | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐☆ |
Why These Brokers?
- IC Markets – Excellent for scalping and automated trading due to very low spreads and fast execution.
- Exness – Popular for Gold (XAUUSD), flexible leverage options, and strong support for algorithmic trading.
- XM – A well-established broker with reliable execution and good overall trading conditions.
| Session | GMT Time | Activity | Recommendation |
|---|---|---|---|
| Asian Session | 00:00 – 08:00 | Lower volatility | ⚠️ Trade with caution |
| London Open | 08:00 – 12:00 | High volatility | ✅ Good |
| London–New York Overlap | 13:00 – 16:00 | Highest liquidity and volatility | ⭐ Best |
| New York Session | 13:00 – 21:00 | Strong price movement | ✅ Good |
| After New York Close | 21:00 – 23:59 | Lower activity | ⚠️ Use caution |
Recommended Trading Times
- ⭐ Best: London–New York overlap.
- ✅ Good: London session and most of the New York session.
- ⚠️ Use caution: Asian session and late New York session, as Gold may move more slowly or spreads can widen.
Risk Reminder
No broker or strategy can guarantee profits. The quality of execution, market conditions, and disciplined risk management all affect trading results. Always backtest the strategy, test it on a demo account first, and use a position size that matches your risk tolerance.
Input Parameters Guide
| Parameter Group | Option Name | Description |
| Renko Engine | InpATRLength | Number of bars used to calculate dynamic Renko brick size. |
| InpSignalFilter | Choose between taking all signals or skipping consecutive same-direction entries. | |
| Trade Management | InpLotSize | Base lot size for fixed volume trading. |
| InpUseAutoLot | Enable automatic position sizing based on risk percentage. | |
| InpRiskPercent | Percentage of account balance to risk per trade. | |
| InpStopLossPips | Stop Loss distance in points. | |
| InpTakeProfitPips | Take Profit distance in points. | |
| Opposite Signal | InpOppositeSignalMode | Action to take when a brick direction flips while in a trade. |
| Break Even | InpUseBreakEven | Enable or disable automatic Break-Even adjustment. |
| InpBreakEvenTarget | Profit target (in points) required to trigger Break-Even. | |
| Trailing Stop | InpUseTrailingStop | Enable dynamic trailing stop logic. |
| InpTrailingStopTarget | Profit required to begin trailing. |
Note for Users: Backtest results depend on historical spread quality. Please test on a demo account before trading live funds. All support and feedback are provided exclusively through the MQL5 comments section and private messages.
