RENKO Charts Generator EA MT5

Eaproducer.com
Jun 20
3 min read

Updated: Jun 21

This Renko Charts generator automatically creates Renko charts according to your chosen settings, timeframe, and symbol. These charts are live, and the EA updates them as necessary. This means you can apply indicators or other EAs to the charts produced by this Renko generator, and they will function correctly. You only need to configure the settings once. Renko charts are highly versatile and can be utilized in various ways. If you have any questions, feel free to contact us.

We can also offer the Renko Charts generator for MT4. RENKO Charts Generator EA MT4

How to Successfully Prepare Renko Charts Using This EA?

In this example, we will use EURUSD.

Step 1. Insert the EA file into the "Experts" folder in your MT5 database. Insert the files from the "Include" folder into the "Include" folder in your MT5 database. Refresh the files or restart your MT5, and it's ready to be used. Then attach an EA to any timeframe of the EUR/USD chart. We recommend using the M1 timeframe. Read more.

Step 2. After selecting the brick size and attaching the EA to the chart, the EA will automatically generate and open a new Renko chart. You can then attach any indicator or EA to this chart to open trades. Note: When using any EA with these Renko charts, it must include a "redirect trades feature." Since this chart is not real and is named, for example, "EURUSD_20pips," we can use any EA to get trading signals, but trades must be redirected to the actual symbol, such as EURUSD. All of our Renko EAs include this feature. Without it, your EA won't be able to open trades.

Generated EA Renko chart using 20-pip bricks.

Step 3. Note: If you have changed the size of the Renko bricks, you will need to delete the old chart.

Step 4. To create a Renko chart for a different symbol such as GBP/USD, open a new chart and follow the same steps.

It's possible to use these Renko charts with the strategy tester and test any of your EAs.

First, create the Renko chart using the steps mentioned earlier and allow the Renko Charts EA MT5 to operate; do not remove the Renko Chart EA from the chart. Next, open the strategy tester, and in the symbol section, choose custom > RenkoChart > select your generated chart. Then, select the M1 timeframe. We recommend choosing "Every tick" or "Real tick data" for modeling. Remember to select the appropriate testing date period. Enable "Visual mode" so you can see the chart while testing your EA. Finally, choose the EA you wish to test and run the test.

Please be aware that this Renko charts generator might not function correctly with certain symbols and settings. You may encounter limitations in using all symbols. However, it generally operates well with most symbols. If you are interested in trying the trial version of this EA, please contact us.

Explanation of the settings:

Renko Box Size: The most important setting; choose the size of each Renko bar in pips.

Show wicks: This setting doesn't change much; choose whether you want to see the wicks of the bars or not.

The settings of the RENKO Charts Generator EA MT5.

You're just one click away from having this Forex EA!

Price £: 100

Payment methods: Credit Card, Debit Card, PayPal, Skrill, Apple Pay, other.

EA delivery time: Within 1-7 hours. All purchased EAs are sent manually to your email address by our team. Once you have completed the payment, please contact us, and we will deliver your purchased EA to your email address as soon as possible.

Premium long-term support: We're available 24/7. Any issues are always solved.

Activations: Unlimited accounts. You have a lifetime license with free future updates.

Compatibility: Our EAs can be used with any symbol and timeframe.

Please be aware that this EA does not initiate buy or sell trades. If you wish to automatically open trades based on Renko bars, we have several EAs available to automate your strategies.