It seems that plenty of people do like the Half Trend indicator and it's precise signals as well as Renko strategies. So we realized that we can try to make an EA which will 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.
Buy trade example.
First Half Trend indicator must start a bullish trend + confirm buy trade with the first renko bullish candle. Sometimes both conditions don't meet, so no trade, then EA waits for another trend.
Sell trade example.
First Half Trend indicator must start a bearish trend + confirm sell trade with the first renko bearish candle. Sometimes both conditions don't meet, so no trade, then EA waits for another trend.
This EA also can be used with the normal charts, with any symbol and timeframe.
Also you can use a feature which opens new trade and closes the old one. It's called (Close trade with opposite signal). Set it as true if you want to use it. Result = buy, sell, buy, sell, buy...
Open trade with every renko bar = true
1 trade per each bull candle if Half Trend is still bullish.
Stop loss and take profit are hidden, EA uses virtual lines instead of real prices. Broker can't see it. 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.
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 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 by the Renko chart and it does not create it by itself.
If you have any questions simply leave a comment below.
Insert EA file into the experts folder.
Insert indicator file into the indicators folder.
Download Demo. It works with a strategy tester only.
Buy full version
You will get Renko Half Trend EA MT4 + Half Trend Indicator MT4
Works with any timeframe
Works with any market
Friendly settings menu
Easy to set up
There are no any restrictions
Best quality guaranteed
Instant download after purchase
Eaproducer.com quality standards.