Kenko Trend Trader mt4
- Uzmanlar
- Felix Kenechi Onodu
- Sürüm: 7.22
- Güncellendi: 8 Eylül 2021
- Etkinleştirmeler: 10
This is the EA version of the Kenko Trend Indicator mt4. It follows the trend on all instruments and trading pairs according to my improved step and ladder technique.
INTRODUCTION
For anyone studying forex charts, the aim is to identify trends, and spot reversals. If you have years of experience it may be easy, but most of us need something to make the trend apparent. If you're familiar with the popular renko charting method, you know that it was developed for this purpose. But renko charting has a flaw; the trend is often broken by false reversals. So I developed my own version - the Kenko Trend Indicator - which draws renko style trend following blocks over the chart using my improved step and ladder technique. It is non-repainting. The kenko trend trader simply trades according to the trend identified by the kenko trend indicator.
The improved step and ladder technique is simple:
- kenko blocks are drawn only when a new candle opens
- the close price of the previous candle is used to determine whether a new block should be drawn; the wicks are ignored as they may give false signals
- a new position is opened whenever the trend changes from up to down (blue block to red block) or vice versa (red block to blue block)
INSTRUMENTS
The kenko trend trader works on all instruments, including;
- all currency pairs, such as EURUSD, AUDCAD, NZDJPY, etc
- metals like XAUUSD, XAGUSD, etc
- stock CFDs like AAPL
- stock index CFDs like SP500
- cryptocurrency CFDs like BTCUSD, XRPUSD, etc
- anything that can be traded on Metatrader 4
The block size may be different for each instrument. The most popular instruments already have default block sizes coded into the EA. However, you can set your own custom block size for any instrument in the settings when launching the EA.
TIMEFRAME
The kenko trend trader works on all timeframes. I recommend the 1 hour (h1) timeframe (personal preference), but you can use any timeframe according to your trading rules and goals.
SET UP
For best results, make use of a VPS (virtual private server), so that the EA can trade 24/7.
Please ensure that the market watch contains ONLY the instruments you wish to trade with the EA, and nothing else. The expert counts the number of instruments displayed in market watch and uses the figure for money management calculations.
I recommend trading a portfolio of at least five (5) instruments simultaneously on one account
CAPITAL
I recommend starting with at least $500 capital for trading a portfolio of ten (10) currency pairs with the default settings.
FUTURE UPDATES
I am working to make the kenko trend trader more effective when trading with very minimal capital.
I am also working to make it more effective when trading with only one instrument.
ADDITIONAL INFORMATION
An mt5 version is available; get it on my products page.
