Hoved Renko Strategy | Forex Indicator Download - MT4/MT5 Resources

Indicators/EAs used

1. Renko chart
2. Bollinger Bands (20,1, applies to closing prices)
3. MACD (Close at 12,26,9; limits I used +0,0001 and -0,0001 for EU with 5 pip brick size, for other pairs and brick sizes please use the MACD limits that suit you.

for long term trade

(Candle nomenclature used - current candle ID is 0, the previous one is 1, the previous one is 2, and so on)

Condition A

1. Candle 2 (bull market) closes within the bb upper band
2. Candle 1 (bull market) closed outside the bb upper band
3. The Macd of the 1st candle is higher than the upper limit
4. Enter at the close of candle 1

Condition B

1. Candle 2 Bear
2. Candle 1 (Bull) closed outside the bb upper band and MACD is above the limit
3. Check Candle 3

I. If short, trade after candle 1 closes

2. If it is a bull market, wait until candle 0 closes, if it closes as a bull market, enter

quit

1. At the end of the next bear candle

For short trades

1. The rule is just the opposite

I'm uploading the basic EA I created, please eliminate it yourself...

PS- This is my first post so please treat me gently