Renko is an automated forex trading robot for Metatrader 4. The EA you need to use when you want to automate your Renko trading is 100% automatic. All you need to do is attach this EA to the chart and set your desired settings. EA also has many useful features, like time settings, weekday options, a trailing stop, breakeven, and a spread filter. All these extra features help manage and control trading sessions. This particular EA can be used with Renko charts as well as with normal charts. If you're missing something in this EA, that's not a problem. We can make any individual update for you, so you will be able to fulfill all your trading needs.
RENKO EA MT4 vs. PRO RENKO MT4. The Pro version has three different money management options: open trade with every renko bar feature, email, and phone notification options.
Buy signal - A buy signal is made from two candle patterns. The 2nd closed candle is bearish, and the 1st closed candle is bullish. Using the "close trade opposite signal" feature, EA trades from a bullish trend to a bearish trend. Sell signal - A sell signal is made from two candle patterns. The second closed candle is bullish, and the first closed candle is bearish. Using the "close trade opposite signal" feature, EA trades from a bearish trend to a bullish trend.
Note: This EA only trades on the Renko chart, which it does not create by itself.
If you don't have a RENKO charts generator, we can offer our RENKO Charts Generator EA MT4
Input menu of the PRO RENKO EA MT4.
Lot management options
Choose one of the 3 lot managements and set it as true, the other 2 must be as false.
Fixed lot - simple fixed lot which is applied for each trade.
Martingale - start lot and a multiplier, EA will use a lot multiplier if the previous trade was in loss.
Risk% management - choose your desirable risk% per trade, EA will calculate the risk size automatically. Stop loss must be used.
Trade comment - use it if you want to add a comment for each trade separately, for example "PRO Renko strategy EURUSD M15".
Stop loss pips - set a stop loss in pips which will be used for each trade separately.
Take profit pips - set a take profit in pips which will be used for each trade separately.
Max trades in the same direction - for example 10, this will result in max open 10 buy trades and max open 10 sell trades.
Pips on profit to enable - once reached, break even is applied.
Offset pips from open price - the distance from the open, in this way you can avoid spread size by adding extra 2 pips for example.
Trailing start pips - once the trade has this amount of profit, trailing stop is activated.
Trailing stop pips - trailing stop distance from the stop loss to the current price.
One trailing step - it's basically how often do you want to refresh the trailing stop.
Trading time settings - that's simple, simply choose time and weekdays you want to trade.
Spread filter - set max allowed spread size in pips, EA checks it before opening the trade. If the spread size is too big = no trade.
Email and smartphone app notifications - set it to true if you want to get a notification about each new trade.
Magic number - use magic number rule if this EA is used in more than 1 chart. Read more.
Download the DEMO version of the PRO RENKO EA MT4 and try it in the strategy tester, before purchasing this forex trading robot MT4.
Payment methods: PayPal, Skrill.
With a Paypal account you can purchase this EA by pressing a Paypal button below. After your successful payment, please contact us and we will send your copy of the EA. Your EA will be delivered in a few hours or faster.
If you want to purchase this EA with a Skrill account. Please contact us.
This EA has no any limits:
Works with any timeframe
Works with any market
Friendly settings menu
Easy to set up
There are no any restrictions
Best quality guaranteed
Our other RENKO EAs:
Renko Hull Moving Average EA MT5
Renko Hull Moving Average EA MT4
EA has the most used features; we don't want to add too much stuff to the original EA. So we offer custom updates for any of our EAs. You can easily order a custom update and adapt this EA to your specific needs. Contact us, and we will add some basic features for free after your purchase.
If you have any questions simply contact us and we will answer all your questions.
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