How to create an Offline chart with Renko - instruction.

1. Copy the file named Renko Trade Panel to the data folder in MT4 (File >> Open Data Folder/ MQL4 / Experts)

2. Copy the file named STG_RenkoChart and STG_RenkoChart_Remote to the data folder in MT4 (File >> Open Data Folder/ MQL4 / Indicators)

3. After uploading the file to the correct directory, close and restart the MT4 platform.

4. Launch STG_RenkoChart by dragging it to the chart window from the Navigator or double-clicking it. After configuration for your own needs, STG_RenkoChart settings can be saved as a settings file.

Click button M4 and then the offline chart window will automatically open.

5. Launch STG_RenkoChart_Remote by dragging it to the chart window from the Navigator or double-clicking it to offline chart.

6. Launch Renko Scalping EA by dragging it to the chart window from the Navigator or doubleclicking it to offline chart.

New buttons have been added.

Where do I get these files/Indicators at (Renko Trade Panel, STG files) ?

I found it!

Hi, you can download these files from here:

https://www.mql5.com/en/blogs/post/748035

hi i realize whenever i drag  STG_RenkoChart to mt4 ,it will cause the whole mt4 to hang. been trying it on different mt4 broker and change computer. where else  i remove the file, mt4 went back to normal. pls help

If you have problems with the STG you can use other Renko candle generators. You can find them on MQL5 or other websites.

Hi

Just bought the EA - it is amazing. 

Can you please sen an update on recommended settings + Function of each setting - I see there is more settings but I am not sure what the function are.

Thank you for the perfect EA

Hi, No problem, below is a link to file with a description of all the functions. If you have any questions, write to me.

RS_MT4_Settings

If you want EA to add more orders after each two boxes, you need to turn on the Next_Bar_Trade, Pyramid System signal and set the minimum distance for the next Pyramid order in Points less than two Renko Boxes.

See also a detailed description of all functions, which can be downloaded at the link.

RS_MT4_Settings

Dear Miroslaw, Hi! Thank you for the great EA. BTW, could you suggest any setting for trading XAU/USD?  Thank you in advance. 

Hello, my experience shows that the Renko strategy is the most effective when trading on the index (DAX, US30, etc.).

This is due to the way the price moves during the trading session generates clear swings that can be maintained over a long distance.

I can't say the same about XAU/USD so I personally advise against using this strategy for this symbol. The effects are likely to be weaker even compared to trading with currency pairs.

Best regards 

Thank you very much for your advice!  Would you advise on the sets for indices?

Try these settings for DAX. Remember to choose the correct size of the Renko Box, it may be different for different brokers.