It seems that plenty of people do like the Half Trend indicator and its precise signals, as well as Renko strategies. So we realized that we could try to make an EA that would use both strategies, and we did it. This EA uses both strategies, and both strategies must confirm each other. It seems that the results are quite interesting. Let us know what you think in the comments below.
If you don't have a RENKO charts generator, we can offer our RENKO Charts Generator EA MT4.
Buy trade example:
First, the Half Trend indicator must start a bullish trend and confirm a buy trade with the first renko bullish candle. Sometimes both conditions don't meet, so there is no trade, and EA waits for another trend.
Sell trade example:
First, the Half Trend indicator must start a bearish trend and confirm a sell trade with the first renko bearish candle. Sometimes both conditions don't meet, so there is no trade, and EA waits for another trend.
This EA can also be used with the normal charts, with any symbol and timeframe.
Also, you can use a feature that opens a new trade and closes the old one. It's called "close the trade with the opposite signal." Set it to true if you want to use it. The end result is buy, sell, buy, sell, buy...
Open trade with every renko bar = true
If the half trend is still bullish, one trade per bull candle.
Stop loss and take profit are hidden; the EA employs virtual lines rather than real prices to prevent the broker from seeing them. Optional (on/off).
Inputs menu of the Renko Half Trend EA MT4.
Half Trend Indicator settings:
Amplitude - choose your desirable period. Different value = different results.
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 "Renko strategy EURUSD M15".
How to use hidden SL TP - You have to decide if you want to use this feature or not before attaching this EA on the chart. Later this option can't be changed, you will have to attach EA freshly. Your Metatrader 4 must always be working. Internet connection must be stable. It's also applied for trailing stop and breakeven features.
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.
Break even:
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 stop:
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 as 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.
Note: This EA only trades on the Renko chart, which it does not create by itself.
If you have any questions, simply leave a comment below.
First:
Insert the EA file into the experts folder.
Insert the indicator file into the indicators folder.
Download the DEMO version of the Renko Half Trend EA MT4 and try it in the strategy tester, before purchasing this forex trading robot MT4.
Price:€175
Payment methods: PayPal, Credit Card, Skrill.
With a Paypal or credit card, you can purchase this EA by pressing the "Buy Now" button below. After your successful payment, please contact us, and we will send you a copy of the EA. Your EA will be delivered in a few hours or faster.
If you would like to purchase this EA with a Skrill account, please contact us.
This EA has no limits:
Lifetime license
Works with any timeframe
Works with any market
Friendly settings menu
Easy to set up
There are no any restrictions
Unlimited accounts
Updates available
Support 24/7
Best quality guaranteed
Our other RENKO EAs:
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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