Description

Renko Trend Following EA

Short Tagline: A trend-following strategy built on Renko bricks, which filter time and minor noise by…

Short Description:
Renko Trend Following EA is a fully automated trend following (noise-filtered). Expert Advisor for MT4 and MT5. A trend-following strategy built on Renko bricks, which filter time and minor noise by only printing a new brick after a fixed price move. Built-in risk controls and market filters keep execution disciplined across live and demo accounts.

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Overview

A trend-following strategy built on Renko bricks, which filter time and minor noise by only printing a new brick after a fixed price move. It enters on consecutive same-color bricks (trend confirmation) and stays in until a reversal brick block forms.

Features

• Renko brick construction (fixed or ATR-based size)
• EMA (e.g., 10) on Renko closes for bias
• Optional ADX
• Configurable stop-loss, take-profit, and trailing logic
• Session, spread, and news-time filters for disciplined execution
• One-trade-per-bar / duplicate-signal protection
• Clean, single-file MQL4 and MQL5 implementations
• No hidden logic — every input is exposed and documented
• No martingale, no grid, no hidden recovery logic

Trading Strategy

Entry logic: – Long: after N consecutive up (bullish) bricks and Renko close above the Renko-EMA. Enter on the confirming brick.

• Short: after N consecutive down bricks and Renko close below the Renko-EMA.

Exit logic: – Exit when an opposite-color brick block of size M forms (reversal) or on Renko-EMA cross.

Stop-loss: SL at 1-2 brick sizes beyond entry (fixed multiple of brick size).

Take-profit: No fixed TP by default; ride bricks until reversal. Optional partial after X bricks in profit.

Trailing stop: Trail by a fixed number of brick sizes behind the current brick.

Break-even: Break-even after price advances 2 brick sizes.

Why it works: Strong noise filtering; clean trend visualization.; Time-independent, focuses on price movement..

Recommended Settings

• Timeframes: Renko is price-based; underlying M5/M15 feed with a fixed or ATR-based brick size.
• Instruments: EURUSD, XAUUSD, US30, NAS100, BTCUSD.
• Account type: ECN/Raw spread accounts preferred
• Minimum recommended balance: $500+ (adjust lot sizing to your risk tolerance)
• VPS: Recommended for 24/5 uptime and consistent execution
• Risk management: Risk 1% per trade sized by brick-based stop distance. Max 3 open trades.

Supported Markets

Forex majors, gold, indices, crypto CFDs.

Supported Brokers

Compatible with any regulated MT4 or MT5 broker offering standard order execution (market or instant execution). Works with ECN, STP, and standard account types. No broker-specific dependencies.

Installation Guide

1. Download the .ex4 (MT4) or .ex5 (MT5) file from your purchase delivery.
2. Open MetaTrader, go to File → Open Data Folder.
3. Copy the file into MQL4/Experts (MT4) or MQL5/Experts (MT5).
4. Restart MetaTrader or right-click Expert Advisors in the Navigator and select Refresh.
5. Drag the EA onto the chart of your chosen symbol and timeframe.
6. Enable Allow live trading (and Allow DLL imports if prompted) in the Common tab.
7. Adjust inputs to match your risk profile, then click OK.
8. Confirm AutoTrading is enabled in the toolbar.

• Session filter: Optional session filter; Renko is inherently time-independent.
• Spread filter: Reject if spread exceeds a fraction of the brick size (e.g., > 25%).
• News filter: Pause new entries around high-impact news to avoid gap-driven multi-brick prints.
• Volatility filter: Use ATR-based brick sizing so bricks adapt to volatility regimes.

Risk Disclaimer

Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. Past performance, backtest results, and simulated outcomes are not indicative of future results. This EA does not guarantee profits. Always test thoroughly on a demo account before deploying real capital, and never risk funds you cannot afford to lose.

Version

v1.0.0

Support

Support is provided through the marketplace messaging system. Please include your broker, symbol, timeframe, and EA version when reporting an issue.

Updates

Free updates are provided for bug fixes and compatibility improvements. Feature updates may be released as versioned upgrades.

FAQ

Q: Does this EA work on both MT4 and MT5?
A: Yes, separate optimized builds are provided for each platform.

Q: Can I run this on multiple pairs at once?
A: Yes, attach separate instances to separate chart/symbol combinations.

Q: Does it use martingale or grid recovery?
A: No. This is a pure signal-based strategy with defined risk per trade.

Q: What timeframe works best?
A: Renko is price-based; underlying M5/M15 feed with a fixed or ATR-based brick size. for the cleanest signals, but the EA can run on other timeframes with adjusted inputs.

Q: Is a VPS required?
A: Not required, but strongly recommended for uninterrupted 24/5 operation.