The EA is deleted as soon as the price moves by 1 tick!? Or a position opened by the EA is deleted?

Lets Automate a Simple Renko Strategy!

I'm currently testing the EA on normal Renko charts. But I am going to test it also on median Renko charts to compare the results. At the moment, just give it a magic number which differs from the magic number of other EAs you are running on the ...

Lets Automate a Simple Renko Strategy!

You specify the size of the bricks in the input settings of the Renko Chart Creator EA. You can find one such EA, for example, in the first post (Renko_Mod.mq4). My EA automatically detects the size of the brick Renko chart it is attached to, and ...

Lets Automate a Simple Renko Strategy!

1. From the Tools menu, choose the Options item, it will bring up the Options window. From the Expert Advisors tab check Allow automated trading and Allow DLL imports options. Click on the OK button. 2. In order to enable trading on an offline ...

Lets Automate a Simple Renko Strategy!

Thanks for backtesting and the reports. They are helpful for me to figure out the possible bugs in the EA.

Lets Automate a Simple Renko Strategy!

Here is Version 1.6 of the EA that implements a Trailing Stop of the N-brick size. You can enable/disable the trailing stop and specify the number of bricks for the trailing stop in the input settings.

Lets Automate a Simple Renko Strategy!

Here is Version 1.5 of the EA that implements a Trailing Stop of three block size. @sminage: Could you please perform a visual backtest of this version to see if the trailing stop works fine? Edit: Version 1.6 can be downloaded form Post 50.

Lets Automate a Simple Renko Strategy!

What brick size did you use to backtest my EA?

Lets Automate a Simple Renko Strategy!

Here is Version 1.1 of the EA that sets stop loss below the low/over the high of the last swing. The current spread is also added to it. Edit: Version 1.5 can be downloaded form Post 48.

Lets Automate a Simple Renko Strategy!

Now I got it! Thanks for backtesting the EA. The strategy is for sure promising.

Lets Automate a Simple Renko Strategy!

Sure! I fix this in the next version. I also think that a Trailing Stop is a good idea to be implemented in the next version. My idea is to have three blocks size as the distance to trail the stop loss. what do you think about it?

Lets Automate a Simple Renko Strategy!

And I thank you for sharing your trading idea

Lets Automate a Simple Renko Strategy!

I agree with you! In the backtest a spread of 0.3 pips is used. There is almost no broker to offer such low spread without a commission of 7.0 USD per 1 lot (0.7 pips additional spread on EURUSD).

Lets Automate a Simple Renko Strategy!

Thanks for backtesting my EA, but it is supposed to run on a Renko chart. However, I'm surprised by it's performance on 1 minute chart! I will try to find out why it only takes Buy positions, there may be a bug in the first version....

Lets Automate a Simple Renko Strategy!

The EA implements the strategy described in the first post. Please read the first post to find out how to create a Renko chart.

Lets Automate a Simple Renko Strategy!

Here is the first version of the EA I just created. It has not been tested yet. I just started running it on a demo account on my VPS. Use this EA at your own risk. Note: In order to enable trading on an offline chart, you have to uncheck the ...

Lets Automate a Simple Renko Strategy!

I opened two positions (BUY/SELL, GBPUSD) 1 minute before the news release (Average Earnings Index 3m/y, Claimant Count Change, MPC Official Bank Rate Votes) with the same lot size, 20 pips stop loss and 60 pips TP, and it worked like a charm! :-) ...

Central Banks & Big Players

That's absolutely true! In a Market we can observe a similar non-uniform distribution of the sequences of price action which proves that the market is not truely an efficient random system. A Gaussian distribution is the closest model to fit to the ...

The Market's Illusions & The Human Brain

My SL pips are variable, but the amount of money I risk on every trade is constant (constant to the degree that the lot step size allows me). And my TP pips are calculated according to the strategy based on which I'm opening a position. In short, I ...

Fixed or Variable TP/SL?

This is the human being's nature that feels much better when he/she shows off with some property, and there is nothing wrong with that. However, some people get extremely satisfied by doing this so that they just do it to satisfy their show-off ...

You do not know how to trade