PRO RENKO EA MT5 is an automated forex trading robot for Metatrader 5. The EA you need to use when you want to automate your Renko trading strategy 100% automatically. All you need to do is attach this EA to the chart and set your desired settings. EA also has many useful features, like time settings, weekday options, a trailing stop, breakeven, and a spread filter. All these extra features help manage and control trading sessions. This particular EA can be used with Renko charts as well as with normal charts. If you're missing something in this EA, that's not a problem. We can make any individual update for you, so you will be able to fulfil all your trading needs.
Buy signal: a buy signal is made from two candle patterns. The 2nd closed candle is bearish, and the 1st closed candle is bullish. Using the "close trade opposite signal" feature, EA trades from a bullish trend to a bearish trend by closing the previously opened trades.
Sell signal: a sell signal is made from two candle patterns. The second closed candle is bullish, and the first closed candle is bearish. Using the "close trade opposite signal" feature, EA trades from a bearish trend to a bullish trend by closing the previously opened trades.
Pro Renko MT5 vs. Renko EA MT5. The Pro version has three different money management options, open trade with every renko bar feature, email, and phone notification options.
Note: This expert advisor for MetaTrader 5 does not create renko charts by itself.
Input menu of the PRO RENKO EA MT5.
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 "PRO Renko strategy EURUSD M2".
Open trade with every renko bar: if this option is enabled, EA will open a new trade with each new renko candle until the opposite renko trend has appeared.
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 to 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.
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 GBPUSD. 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."
Download the DEMO version of the PRO RENKO EA MT5 and try it in the strategy tester, before purchasing this forex trading robot MT5.
You're just one click away from having this Forex EA!
Price £: 150
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.
Custom updates: Yes, we can offer any custom updates for our original EAs, so you can adapt the EA to your specific needs. We're very versatile.
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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