Renko Bounce Trade | Forex Indicator Download - MT4/MT5 Resources
Entry rules:
Buy: If a brick candle intersects the indicator's lower band or closes the lower band below and the next brick is bullish , open a buy position and set a stop loss level three bricks plus away from the entry point.
If a bullish brick candle intersects the indicator's or closes above the next brick, open a position and set a stop loss level of three bricks plus away from the entry point.
Exit options:
1. If the position is profitable, exit after the first counter brick.
2. If the price hits the opposite range, close the position.
3. Use a profit target based on a fixed risk-to-reward ratio of 1:N (N>1).
Example:
How to create a Renko chart:
1. Download MathTrader7_RenkoChartCreator.ex4 and copy it to your <Experts> folder.
2. Enable DLL import in the options menu.
3. Refresh the navigation window of the MT4 platform (or restart MT4).
4. Open the M1 chart (eg EURUSD, M1) and attach the above EA to the chart.
5. From the <File> menu, select <Open Offline> and select the (EURUSD, M2) chart.
NOTE: If you see few Renko charts on M2 charts, close all charts, open the History Center on MT4 and download M1 data.
Indicator installation method:
1. Download MathTrader7_ATRBands.ex4 from the attachment and copy it to your <Indicators> folder.
2. Refresh the navigation window of the MT4 platform (or restart MT4).
3. Attach the indicator to the Renko chart [leave the default input settings].
>>Topic rules:
1. In this topic, we only discuss the Renko bounce trade presented here. I will defy anyone who writes anything in this thread.
2. You publish anything (directly or indirectly) that is s.
---Updated 2021-01-25 ------
Version 1.20 The number of adaptive ATRBands released. In this version the indicator algorithm has been improved.
NOTE: This is an experimental version. Please report any bugs you may encounter.
---- Updated 2018-08-13 -----
Version 1.00 of Renko Bounce EA has been released. This version is programmed from scratch.
NOTE: This is an experimental version. Please report any bugs you may encounter.
---Updated 2018-07-13 ------
Indicators released in version 2.30 .
Buy: If a brick candle intersects the indicator's lower band or closes the lower band below and the next brick is bullish , open a buy position and set a stop loss level three bricks plus away from the entry point.
If a bullish brick candle intersects the indicator's or closes above the next brick, open a position and set a stop loss level of three bricks plus away from the entry point.
Exit options:
1. If the position is profitable, exit after the first counter brick.
2. If the price hits the opposite range, close the position.
3. Use a profit target based on a fixed risk-to-reward ratio of 1:N (N>1).
Example:
How to create a Renko chart:
1. Download MathTrader7_RenkoChartCreator.ex4 and copy it to your <Experts> folder.
2. Enable DLL import in the options menu.
3. Refresh the navigation window of the MT4 platform (or restart MT4).
4. Open the M1 chart (eg EURUSD, M1) and attach the above EA to the chart.
5. From the <File> menu, select <Open Offline> and select the (EURUSD, M2) chart.
NOTE: If you see few Renko charts on M2 charts, close all charts, open the History Center on MT4 and download M1 data.
Indicator installation method:
1. Download MathTrader7_ATRBands.ex4 from the attachment and copy it to your <Indicators> folder.
2. Refresh the navigation window of the MT4 platform (or restart MT4).
3. Attach the indicator to the Renko chart [leave the default input settings].
>>Topic rules:
1. In this topic, we only discuss the Renko bounce trade presented here. I will defy anyone who writes anything in this thread.
2. You publish anything (directly or indirectly) that is s.
---Updated 2021-01-25 ------
Version 1.20 The number of adaptive ATRBands released. In this version the indicator algorithm has been improved.
NOTE: This is an experimental version. Please report any bugs you may encounter.
---- Updated 2018-08-13 -----
Version 1.00 of Renko Bounce EA has been released. This version is programmed from scratch.
NOTE: This is an experimental version. Please report any bugs you may encounter.
---Updated 2018-07-13 ------
Indicators released in version 2.30 .
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