Renko Trading Bot EA

Renko Trading Bot EA

Description
This is an automated trading robot using a unique Renko charting method. It turns chaotic price movements into clear signals, minimizing market noise and accurately identifying trend direction.

Key Advantages

• Clean trading without noise: Renko filters out minor price fluctuations, leaving only significant movements.

• Compatible with any broker: Works with all account types on the MT5 platform.

• Flexible money management: Supports fixed lots or adaptive position sizing.

• Multi-level capital protection: Stop Loss, Take Profit, Trailing Stop, and Break Even to reduce risk.

• Optimized performance: Minimal system load with maximum execution efficiency.

Supported Markets

• Forex: EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, NZDUSD, and others

• Metals: XAUUSD (Gold), XAGUSD (Silver)

• Energy: WTI, Brent, Natural Gas

• Cryptocurrencies: BTCUSD, ETHUSD, and other liquid pairs

• Indices: US30, SPX500, NAS100, DAX40, FTSE100

Renko Trading Philosophy

• Bricks instead of candles: Each "brick" forms after a significant price movement.

• Clear trend visualization: Quickly identify market direction.

• Accurate reversal signals: Trend changes are indicated by opposite bricks.

• Time-independent: Trades are based on price movement, not time intervals.

Parameters and Functions

Renko Settings

• TimeFrame – The timeframe the robot operates on

• InitialLot – Lot size for opening positions

• BrickSize – Size of a single Renko brick in points

• ReversalBricks – Number of bricks for a reversal

• CloseOnReversal – Close positions on reversal (true/false)

Risk Management

• TakeProfit – Take profit in points (0 disables TP)

• StopLoss – Stop loss in points (0 disables SL)

Trailing Stop

• UseTrailing – Enable trailing stop (true/false)

• TrailingStart – Minimum points to start trailing

• TrailingDistance – Distance between current price and stop loss during trailing

• TrailingStep – Stop loss movement step in points

Break Even

• UseBreakEven – Enable break-even stop

• BreakEvenStart – Minimum profit points to move stop to break-even

• BreakEvenOffset – Offset from break-even point in points

Filters

• MaxSpread – Maximum spread to open trades

• MinOrderDistance – Minimum distance between orders in points

• MinTimeBetweenOrders – Minimum time between orders in minutes

Daily Limits

• DailyLimit – Enable daily order limit

• MaxOrdersPerDay – Maximum orders per day

Time Filter

• UseTimeFilter – Enable trading time filter

• StartHour / StartMinute – Trading window start

• EndHour / EndMinute – Trading window end

Display

• ShowPanel – Show info panel on chart

• ShowTradeHistory – Display trade history on chart

• MagicNumber – Unique identifier for EA trades

Panel Colors

• PanelBackgroundColor – Panel background color

• PanelTextColor – Text color

• PanelEditColor – Edit field color

• PanelProfitColor – Profit text color

• PanelLossColor – Loss text color

Usage Recommendations
The EA is optimized by default for GBP/USD.
For basic use, you can disable Stop Loss by setting 0 or enter your own safe value. Trailing Stop and Break Even can be enabled by setting the parameters to true.

For maximum performance, further optimization based on your broker's conditions is recommended. Factors such as spread, commissions, execution speed, and server characteristics can significantly affect EA performance.

Testing Conditions
The results are for demonstration purposes only and are not trading recommendations.

• Broker: RoboForex

• Leverage: 1:500

• Starting balance: 1000 USD

• Currency pair: GBP/USD

Important
Trading parameters (spread, commissions, execution speed, liquidity conditions) vary across brokers and directly affect EA performance and results.

Recommendations
Test the EA on a demo account and optimize it for your broker before using it live. Consider spreads, commissions, account type, server hours, and execution speed. Repeat optimization if switching broker or instrument.

Warning
The EA is intended for traders familiar with grid strategies and risk management. Past results do not guarantee future profits. Always test on a demo account and ensure you understand the risks before live trading.