Renko Line Break and RSI EA - MetaTrader 5 Expert - MT4/MT5 Resources
The idea is very simple - a Renko line breakout determines the direction of the trend, then a stop loss order is placed based on the RSI signal when the trend rolls back. Here is an example:
Test example of EURUSD H4 in January 2012 (see attachment).
a) Transaction example:
Attachment download
📎 renkolinebreakvsrsi_ea.mq5 (10.63 KB)
Source: MQL5 #1772
Renko Line Break and RSI EA - MetaTrader 5 Expert Usage and Screening Advice
Renko Line Break and RSI EA - MetaTrader 5 Expert belongs to the MT5 EA related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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