Renko Fractals Grid

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Renko Fractals Grid EA for MT4
Renko Fractals Grid Robot for MT4
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Inputs

  • Atr – Enable ATR indicator value as Renko box size (values: 0-1).
  • BOX1 – Renko box size in pips (values: 5-100).
  • CandlesToRetrace – Number of candles to wait for Renko box (values: 10-100).
  • USEMOVETOBREAKEVEN – Enable “no loss” break even system (values: 0-1).
  • WHENTOMOVETOBE – When to move break even (values: 10-100).
  • PIPSTOMOVESL – How much pips to move stop loss (values: 10-100).
  • Lots – Lots size (values: 0.01-10).
  • MaximumRisk – maximum risk from total margin in %, (values: 0.01 – 0.3).
  • If “MaximumRisk =0” then “Lot=constant”
  • DecreaseFactor – decrease from total margin if you lose a trade.
  • TrailingStop= set a value from 10 to 100 to activate trailing stop loss & take profit, “0” will not activate trailing stop loss.
  • Stop_Loss – Stop Loss (values: 10-100).
  • MagicNumber – Magic number (values: 1-100000).
  • TakeProfit – Take Profit (values: 10-100).

Description

This EA uses “Renko” box size on MetaTrader 4 chart. When a Renko box is created (not visible, only calculated in pips) and price reaches the level where there was a fractal, the EA enters a trade, has Trailing Stop Loss &Take Profit works on all time frames major forex pairs and stocks NASDAQ.

USEMOVETOBREAKEVEN  system functions like a stop loss

But a one-time function with a smaller value than the subsequent Stop Loss value to lock minimal profit and avoid loss if the price goes against you.

If you have reached a certain value of pips with the direction of the trade –

  • WHENTOMOVETOBE – When to move break even (values: 10-100).

So how many pips would you like to move the stop loss above the price line of the open trade-

  • PIPSTOMOVESL – How much pips to move stop loss (values: 10-100).

This EA trades only with the price of open candle!

Trade volume of a position depends on previous trading results.

It provides the possibility to limit the maximum risk (in % of deposit) of the trade.

If you want to trade with constant lotsize say:0.01 lot ,you need to set “MaximumRisk =0” and “DecreaseFactor=0″

Or else you will have a calculation of  Percent (%) of deposit and MaximumRisk.