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Mean Renko EA
This EA will be based on MEAN RENKO candles and 2 moving averages.
To enter a trade, the smaller moving average must completely cross over the larger moving average and then a postion is taken in that favour.
If the 10EMA for example crosses below the 20EMA, a short position is opened. This MUST be a complete crossover and if the Moving Averages
are at the same price, this does not count as a complete crossover.
To exit a trade, price must retrace and close across the smaller Moving Average. Again this must be a complete crossover, if the price AT
CLOSE is the same as the MA then this does not count as a crossover.
Here is the tricky part.. As entries, stoplosses and exit points arent displayed on Mean Renko charts (only on the live chart that they feed
from) i would like to have Trendlines placed on the Entries and exits (trendline From entry To exit) on the Mean Renko chart displaying
where the trade got in and out. And i would like them to be red for a loss and green for a win.
Inputs:
1) Small Moving Average number
2) Large Moving Average number
3) Small moving average type (Simple, Exponential, Weighted or Smoothed)
4) Large moving average type (Simple, Exponential, Weighted or Smoothed)
5) Fixed lot size
6) Lot size based on percentage of account balance at X pips (example 30 pips)
7) Take profit feature at Risk vs Reward of SL (EG, 2:1 or 5:1 times the Stoploss)
8) Colour choice of both Moving Averages
9) Colour choice/thickness of trendlines
10) Option to turn Trendlines off/on
11) Option to only take Longs or Shorts only
Also, if possible, i would like the trades to be displayed on a Mean Renko chart and not just a regular live chart. . So that i can see all the
information on 1 chart.
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