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Renko Trading Bot EA
Renko Trading Bot Pro: Professional Renko Chart Trading System with Automatic Reversal Detection for MetaTrader 5
For traders seeking revolutionary approach to trading without noise and with clear reversal signals, Renko Trading Bot Pro provides fully automated system based on Renko charts - unique price display method showing only significant movements. The system uses bricks of equal size (BrickSize) to determine trend and reversals, automatically opens positions on new brick confirmation, applies advanced risk management techniques including trailing stops and break-even functions, and ensures stable operation on all major financial instruments.
Understanding Renko Charts and Their Trading Advantages
Renko Trading Bot Pro uses Renko charts, developed in Japan and named after the word "renga" (brick). Unlike traditional candlestick charts where each candle represents certain time period, Renko charts display only significant price movements. Each brick has equal size determined by BrickSize parameter in pips.
Advantages of Renko charts lie in filtering market noise and showing only true trend movements. Renko chart is time-independent - new brick appears only when price moves by BrickSize amount. This means trader sees only truly significant movements, making trading signals more reliable and less prone to false breakouts.
Renko Level Tracking System with Reversal Detection
Renko Trading Bot Pro tracks current Renko level (currentRenkoLevel), movement direction (currentDirection: 1 for uptrend, -1 for downtrend, 0 for undefined) and reversal level (reversalLevel). UpdateRenko function analyzes current price (bid) and updates these values every tick.
On initialization, system sets currentRenkoLevel to nearest level aligned to BrickSize. On uptrend (currentDirection == 1), system waits for price to fall below reversalLevel = currentRenkoLevel - (ReversalBricks brickSizePrice) for reversal. On downtrend (currentDirection == -1), system waits for price to rise above reversalLevel = currentRenkoLevel + (ReversalBricks brickSizePrice) for reversal.
ReversalBricks parameter defines how many bricks back price must return to confirm reversal. ReversalBricks = 1 means reversal is confirmed when price moves one full brick in opposite direction.
Reversal Signal Processing System with Position Opening
Renko Trading Bot Pro generates reversal signals (signal = 1 for BUY, -1 for SELL) and processes them in ProcessSignal function. Before opening position, system checks several conditions: closing opposite positions (if CloseOnReversal = true), absence of positions in same direction, compliance with minimum order distance (InpMinOrderDistance), compliance with minimum time between orders (InpMinTimeBetweenOrders in minutes).
When all conditions are met, system opens position through OpenPosition with order type (BUY or SELL) and lot size (InitialLot). The system tracks last order time (g_lastOrderTime) and last order price (g_lastOrderPrice) for trading frequency control.
Position Size Management System with Fixed Lot
Renko Trading Bot Pro uses fixed lot size (InitialLot) for each position, providing consistent risk management. The system does not apply martingale or size increases on losses, preferring stable approach. The system validates lot size through CheckVolumeValue, ensuring it meets broker requirements (SYMBOL_VOLUME_MIN, SYMBOL_VOLUME_MAX, SYMBOL_VOLUME_STEP).
CheckMarginAndAdjustLot function checks available margin before opening position through OrderCalcMargin and automatically reduces lot size by 50% in loop up to 8 attempts if margin is insufficient. NormalizeLotToStep function normalizes lot size to broker requirements, ensuring correct volume step.
Stop-Loss and Take-Profit Validation System
Renko Trading Bot Pro uses ValidateSL function to verify that stop-loss is at minimum allowable distance from entry price determined by SYMBOL_TRADE_STOPS_LEVEL and SYMBOL_TRADE_FREEZE_LEVEL. The system calculates stop-loss by subtracting StopLoss pips from entry price for BUY positions and adding StopLoss pips for SELL positions.
Take-profit is calculated similarly, by adding TakeProfit pips for BUY positions and subtracting for SELL positions. The system normalizes both values to symbol decimal places through NormalizeDouble and verifies their validity before opening position.
Daily Order Limit Management System
Renko Trading Bot Pro uses DailyLimit parameters (enabling daily limit), MaxOrdersPerDay (maximum orders per day) and totalOrdersToday variable for counting orders opened per day. CheckDailyReset function checks whether new day has arrived (now >= todayStart + 86400) and calls ResetDailyCounter to reset counter.
ResetDailyCounter sets todayStart to current day beginning (0:00:00) and resets totalOrdersToday = 0. Upon opening each position, system increments totalOrdersToday++ and checks if limit not exceeded (totalOrdersToday >= MaxOrdersPerDay).
When limit is exceeded, system refuses to open new positions until next day arrives, preventing excessive trading activity and maintaining daily maximum risk limit.
Time Between Orders Control System
Renko Trading Bot Pro uses InpMinTimeBetweenOrders parameter to set minimum time in minutes between order opening. CheckTrades function in ProcessSignal checks whether sufficient time has passed (InpMinTimeBetweenOrders 60 seconds) between current time and g_lastOrderTime.
Upon successful position opening through OpenPosition, system updates g_lastOrderTime = TimeCurrent(). This prevents opening multiple positions within short time window, especially useful for filtering false signals and noisy markets.
Time Filter System with Hour Restrictions
Renko Trading Bot Pro uses UseTimeFilter, StartHour, StartMinute, EndHour, EndMinute parameters to define trading hours. IsWithinTradingTime function checks whether current time is within allowed range. The system converts current time and time boundaries to minutes from day beginning for convenient comparison.
If StartHour = startMinutes && currentMinutes EndHour (e.g., 20:00 to 8:00), system checks whether current time is either after start hour or before end hour (currentMinutes >= startMinutes || currentMinutes
Trailing Stop System with Automatic Movement
Renko Trading Bot Pro uses InpUseTrailing, InpTrailingStart, InpTrailingDistance, InpTrailingStep parameters for trailing stop management. ManagePositions function checks each open position and upon reaching target profit (profitPoints >= InpTrailingStart) moves stop-loss at distance InpTrailingDistance pips from current price.
For BUY positions new stop-loss = currentPrice - InpTrailingDistance g_point, for SELL positions = currentPrice + InpTrailingDistance g_point. The system checks that movement improves stop-loss by minimum InpTrailingStep pips before modification, preventing frequent changes.
Break-Even System for Capital Protection
Renko Trading Bot Pro uses InpUseBreakEven, InpBreakEvenStart, InpBreakEvenOffset parameters for automatic stop-loss movement to break-even. Upon position reaching target profit (profitPoints >= InpBreakEvenStart), system moves stop-loss to entry point plus InpBreakEvenOffset pips.
For BUY positions break-even level = openPrice + InpBreakEvenOffset g_point, for SELL positions = openPrice - InpBreakEvenOffset * g_point. The system checks that new stop-loss is better than current before modification, ensuring zero or minimal risk while maintaining potential for further profit.
Opposite Position Closure System on Reversals
Renko Trading Bot Pro uses CloseOnReversal parameter to manage position closure on reversals. CloseOppositePositions function closes positions opposite to new signal. On BUY signal (signal == 1), system closes all SELL positions. On SELL signal (signal == -1), system closes all BUY positions.
The system checks that position belongs to EA (MAGIC_NUMBER verification), and only then closes it. Optionally, system can close only profitable positions to preserve losing positions for compensation.
Spread Tracking and Volatility Filtering System
Renko Trading Bot Pro uses InpMaxSpread parameter to filter trading at high spread. CanTrade function checks current instrument spread (SymbolInfoInteger(SYMBOL_SPREAD)) and refuses position opening if spread exceeds InpMaxSpread.
This prevents trading during high volatility or low liquidity conditions when spread significantly widens. During extended spread, system skips signals and waits for market normalization.
Profitable Position Tracking and Closure System
Renko Trading Bot Pro uses "Close Profitable" button in information panel for manual closing all profitable positions. CloseAllProfitable function iterates through all open positions, checks EA ownership, and closes only positions with profit (g_position.Profit() > 0).
The system can also be extended for automatic closing all profitable positions upon reaching certain daily profit level or at certain time of day.
Information Panel with Statistics Tracking
Renko Trading Bot Pro includes built-in information panel displaying key indicators in real-time: current timeframe, brick size, current direction (UP/DOWN/NONE), current Renko level, lot size, number of open positions, number of orders for day (with limit indication if enabled), daily, weekly, monthly, and total profit.
Profit is displayed by color: green for profit, red for losses. The system updates panel every tick and upon every position change through UpdatePanel function.
Application on Major Trading Instruments
Renko Trading Bot Pro is effectively applied to all major currency pairs EURUSD, GBPUSD, USDJPY, AUDUSD due to clear trends and manageable reversals. On precious metal XAU (gold), system demonstrates excellent results due to apparent trends and clean reversals without noise.
On energy commodities WTI and Brent, system shows good results due to volatility and clean price movements. On cryptocurrencies BTC and ETH, system works very well due to high volatility, clear trends, and complete absence of trading time restrictions.
Renko Parameter Optimization Recommendations
For conservative trading, recommended using BrickSize 30-50 pips, ReversalBricks 1-2, InpTrailingDistance 50-100 pips, MaxOrdersPerDay 3-5. For aggressive trading, use BrickSize 15-30 pips, ReversalBricks 1, InpTrailingDistance 20-50 pips, MaxOrdersPerDay 10-20.
On volatile instruments (crypto, oil) recommend increasing BrickSize and ReversalBricks. On calm instruments (major currency pairs) can use smaller BrickSize for more frequent trading.
StopLoss and TakeProfit parameters should be set according to BrickSize: standard recommendation 10-15 BrickSize for StopLoss and 5-8 BrickSize for TakeProfit.
Conclusion
Renko Trading Bot Pro represents fully automated trading system on Renko charts that combines market noise filtering with clear trend reversal signals. The system uses fixed lot size for consistent risk management, includes daily limits for trading activity control, supports various time filters for trading only during certain hours, and provides complete position management with trailing stops and break-even functions. Built-in information panel ensures complete control and visibility of all trading activity. Regardless of selected instrument or chosen Renko parameters, this system provides automated, reliable trading allowing profit extraction from clear price movements with strict risk management.
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Website: https://forex-ea.com/en/
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