The Ultimate Renko indicator for Metatrader 5 is bundled with three fully open-source EAs plus three EA examples to help you get started on creating your own EAs for renko charts using our proprietary SDK (also included with the product).
The three fully functioning EAs are:
2MA_Cross EA - Two moving averages crossover EA
The two MA crossover EA trades on the crossings of two moving averages (MA1 and MA2 of the renko indicator*).
You can set the trading direction for longs, shots, or both along with a trading schedule
You can also enable or disable "Stop & Reverse" trading.
Other self-explanatory settings are described in the EA inputs:
// EA input parameters
input double Lots = 0.1; // Traded lots
input uint StopLoss = 100; // Stop Loss (in points)
input uint TakeProfit = 250; // Take profit (in points)
input ENUM_TRADE_DIRECTION ValidTradeDirection = TRADE_DIRECTION_ALL; // Valid trading type
input bool ForceSR = false; // Force Stop & Reverse
input bool ReverseOnMACrossInsideGap = true; // Reverse trade if MA cross inside a gap
input bool CloseTradeAfterTradingHours = true; // Close trade after trading hours
input ulong DeviationPoints = 0; // Maximum defiation (in points)
input double ManualTickSize = 0.000; // Tick Size (0 = auto detect)
input string Start="9:00"; // Start trading at
input string End="17:55"; // End trading at
input ulong MagicNumber=5150; // Assign trade ID
input int NumberOfRetries = 50; // Maximum number of retries
input int BusyTimeout_ms = 1000; // Wait [ms] before retry on bussy errors
input int RequoteTimeout_ms = 250; // Wait [ms] before retry on requotes
*) Please note that the renko indicator needs to have MA1 & MA2 enabled and set to the desired parameters for the EA to work correctly.
PriceMA_Cross - Price & moving average crossover EA
This EA is almost identical to the 2MA_Cross, but instead of MA1 and MA2, it only uses MA1 and the price (open or close of a renko brick). The EA inputs are identical to the ones presented above.
Please note that the renko indicator needs to have MA1 enabled and set to the desired parameters for the EA to work correctly.
This is the most common EA for renko trading.
Entries and exits take place after a defined number of bricks in the same direction.
You can read more about the EA here: https://renko-trading-robots.blogspot.com/2021/01/open-source-renko-ea-for-metatrader-5.html