Let's automate a simple brick strategy! (Lets Automate a Simple Renko Strategy!)

Hey,

I have been quietly trading a simple Renko strategy for some time now and it has produced some very impressive profits.
Now I want to automate this strategy into the EA so that we don't have to wait for a long time for the Renko Bar to draw.

The whole concept is to keep your trading strategy simple yet accurate and profitable!

Okay, let's start by looking at how to build a Renko chart.

How to install Brick EA:
1. Open the 1-minute chart
2. Attach your Renko EA (i.e. Renko_Mod.mq4)
3. The settings of this EA are:

Brick size=10.0
Brick Offset=0
Renko timeframe=2
ShowWicks=trueSimulationOnLineChart=true
BuildChartsWhenMarketOffline=true
Calculate BestBoxSize = false
ATR period=24
ATR timeframe=60
Use ATRMA=true
MA method=0
MAP period=120
Click OK and Finish.

4. Open the offline chart: File > Open Offline > Select EURUSD M2 (double-click to open this chart)
5. Your Renko chart is now active.

What we have done here is to have the Renko_mod.mq4 EA generate Renko charts in offline mode, but update in real time.

Now, on the current chart, you can see bricks of 10 pips each.

Now add the EMA 50 and EMA 21 indicators to your chart and we are done!

The strategy rules are very simple!

Admission criteria:

Purchase after the brick color changes from red to green and 2 consecutive green bricks are formed and closed.
Our entrance will be in the opening of the third green brick.

Sell ​​after the brick color changes from green to red and 2 consecutive red bricks are formed and closed.
Our entrance will be in the opening of the third red brick.

Filter:

We use 21EMA and 50EMA as filters.
If the price is above the EMA, we only place a buy trade.
If the price is below the EMA, we only place a sell trade.

Exit criteria:

1. When opposite colored bricks form.
OR
2. As more and more bricks form, trail the trade until your trailing stop takes you out!

Stop loss:

There are 2 concepts -
1. The last significant high or low.
2. The high or low of the last green or red brick -
That is, for a buy trade we will use the low of the last red brick where the price turned.
For sell trades, we will use the high of the last green brick when the price turned.

Additionally, you can use a trailing stop of 20-30 pips to protect your profits.
You can choose the one that best suits your trading style.

If you use a trailing stop, don't leave the target open so we can let our profits run during long-term trends.

Now your chart should look like this!

Sales setup example:



Purchase setup example:



I kindly ask all the talented senior programmers on the forum to help me write an EA based on this strategy.

Fellow members please recommend this post to anyone who can find talented programmers.

Because I want an EA that can trade outside of offline Renko charts!

We welcome all constructive suggestions with open arms.

Also, if you like my strategies, don’t forget to thank me!