The EA displays renko bars on the chart, builds slow and fast bollinger bands on their basis, and trades.
Renko is a specific display of the price movement, in which only “bricks” of a given size are displayed on the chart, equivalent to the price movement, regardless of the time of their formation.
An additional option for Renko in this advisor is to display the time and volume of formation of each brick.
Trading signals are formed in two stages:
- The formation of a reference point by signals: the lower line of fast bands crosses down the middle line of the slow (sell) or the upper line of fast bands crosses up the middle line of the slow (buy);
- The formation of an input signal when the speed of formation or volume of bricks in the direction of trade increases.
Advisor Parameters
- BrickSize, CountBars - brick size and quantity on the chart
- Short Brick Color, Long Brick Color, Wick Color - the color of bricks and shadows
- hideBars - hide standard bars
- openTime_factor - the ratio of the times of the last and previous candles for the signal
- openVolume_factor - the ratio of the volume of the last and previous candles for the signal
- maxBarTime, minVolume - maximum time and minimum signal brick volume
- checkMinMax - control of placing repeated orders (buying below the minimum, selling above the maximum)
- ordersDistance - minimum distance between orders
- lots, risk - a fixed volume or risk per trade
- takeProfit_factor - TP level (from SL level)
- stopLossMin - minimum SL level (in brick size), works including for trailing
- trailStop_factor - level of trawl (from TP level)
- noLoss_factor - breakeven level (from TP level)
- numOrders - maximum number of orders in one direction
- orderLifeHour, orderLifePercent - order lifetime and the minimum volume for closing by time
- minProfitPercent, maxLossPercent - percentage of the minimum profit and maximum loss for partial closure
- minProfitFactor, maxLossFactor - size to close at the minimum profit and maximum loss
- averageClose - percentage to close by the sum of profit of unidirectional orders
- diffClose - percentage for closing by the amount of profit of multidirectional orders
- arbitrageClose - percentage for closing by the sum of profit of orders for all symbols
- dualSide - enable feedback
- closeOnReversWithProfit - flag to close profitable trades by a return signal
- bandPeriod, bandDev, bandColor - parameters and color of fast bands
- bandWidth - width of fast bands
- checkBandTrend - flag for controlling the direction of movement of fast bands
- bandSlowPeriod, bandSlowDev, bandSlowColor - parameters and color of fast bands
- checkSlowBandTrend - flag for controlling the direction of movement of slow bands
- SlowBandTrail - enable trailing on slow bands
- useTimeSignal, useVolumeSignal - resolution of signals in time and volume (if both parameters are disabled, then transactions are opened immediately after the formation of control points)
- signalWaitFactor - distance at which the final signal is expected
- slippage, magic - slippage and magic
- maxSpread - maximum spread at which trading is conducted
- isDrawing, drawTime, fontSize - signs of displaying bricks, time and symbol size on the chart
- drawSignal - permission to display signals
- useAlert, useMail, useNotification - permission to send signals
- messagePre, messageCancel, messageOk - permission of messages of reference point, cancellation and input signal
Parameters specified in points are calculated for 4-digit quotes and are automatically recalculated for 3-digit and 5-digit quotes.
The EA requires optimization for use on the required tools. Before buying, please test the demo version.
set files for popular tools - in the attached file
Free test signal on a demo account https://www.mql5.com/en/signals/653928
Link to purchase / testing https://www.mql5.com/en/market/product/40144/
