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Renko SuperTrend EA MT5

It seems that SuperTrend indicator MT5 strategies are very popular, as are 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 in order to open a buy or sell trade. It seems that the results are quite interesting. Let us know what you think in the comments below.



Buy-trade example:

First, the SuperTrend 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.

Renko SuperTrend EA MT5


Sell-trade example:

First, the SuperTrend 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.

Renko SuperTrend EA MT5


This EA can also be used with normal charts, with any symbol and timeframe.

Renko SuperTrend EA MT5


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...

Renko SuperTrend EA MT5


Open trade with every Renko bar = true

If SuperTrend MT5 is still bullish (blue), one trade per bull candle.

Renko SuperTrend EA MT5


Open trade with every Renko bar = true

If SuperTrend MT5 is still bearish (red), one trade per bear candle.

Renko SuperTrend EA MT5


Stop loss and take profit are hidden; since EA uses virtual lines instead of real prices, the broker can't see them. Optional feature.

Renko SuperTrend EA MT5


Inputs menu of the Renko SuperTrend EA MT5.


Renko SuperTrend EA MT5



Indicator settings:

SuperTrend Period - choose your desirable period. Different value = different results.

SuperTrend Multiplier - choose your desirable multiplier. 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, for example "Renko SuperTrend MT5 strategy EURUSD M2".



Redirect symbol - this setting helps you open trades on the Renko charts properly. For example, the Renko generator creates a chart called "GBPUSD_10PIPS_M1." Once the signal is received in this Renko chart, the trade can't be opened with this symbol, so we have to redirect trades to the real symbol, like GPUSD. You have to enter the name of the symbol exactly as your table of symbols shows it. It may be "GBPUSD" or something like "GBPUSD.r."



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 5 must always be working. Internet connection must be stable. It's also applied for trailing stop and breakeven features.



Allow buys - set it to true if you want to allow buy trades.



Allow sells - set it to true if you want to allow sell trades.



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. Read more.  



Note: This EA only trades on the Renko chart; EA doesn't generate Renko charts. You still need a Renko chart generator.



First.

  • Insert the EA file into the experts folder.

  • Insert the indicator file into the indicators folder.

  • Read more.



Download the DEMO version of the Renko SuperTrend EA MT5 and try it in the strategy tester, before purchasing this forex trading robot MT5.


Renko SuperTrend EA MT5 Eaproducer.com DEMO
.zip
Download ZIP • 314KB

 

Price:€200

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.



Eaproducer.com quality standards.

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