I am looking for an expert advisor to buy or sell based on a simple Renko strategy. I would like the MQL4 file. I normally use my own developer to build all my systems, but he is not available at the moment, so I need someone else to do this one please.
If no orders are open, then it buys when two bullish bricks form after a bearish brick. The trade will close when the next opposite brick forms.
If no orders are open, then it sells when two bearish bricks form after a bullish brick. The trade will close when the next opposite brick forms.
The easiest way to show the logic is with this chart here:
Trade 1 - Buy on the open of third brick, because we have had two bullish bricks follow a bearish brick. This trade closes on opposite brick for a win of 10 points.
Trade 2 - Sell on the open of the third brick, because we have had two bearish bricks follow a bullish brick. This trade closes on opposite brick for a win of 0 points.
Trade 3 - Buy, but the trade went against us, close on reverse brick -10 points
Trade 4 - Sell, close on reverse for +10 points
Trade 5 - Sell again, because there was a bullish brick previously, then two bearish bricks. Close on reverse brick for +70 points
Trade 6 - Buy, whipsawed, closed out for -20 points
Trade 7 - Sell, close on reverse for +20 points
Trades 8-18 were whipsaw trades, but the EA would open them regardless.
The indicator that I am using to create the renko chart, is attached to this description.
EA inputs required:
Lot Size
Slippage
Magic Number
Trailing stop
Number of bricks for trailing stop
Choose times to trade between
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