RENKO 3 BAR TREND WITH TIME BASED MOVING AVERAGE EA & RENKO LIVE CHART

The RENKO 3 BAR TREND WITH TIME-BASED MOVING AVERAGE EA enters a trade once Renko forms a trend of consecutive bricks in the same direction and exits when the trend reverses. A trend must be preceded by at least one brick in the opposite direction.

This EA allows you to set the number of bricks for trend entry and trend reversal and optionally to add a time-based moving average as an additional trend filter.

Please note that the expert trades but does not draw Renko bricks on the chart. You will need a separate indicator to see the bricks being formed. You can download the Renko OnChart indicator to add Renko to your charts

INPUTS AVAILABLE :

• Pips per brick
  Measured in pips, the price movement required to create a new brick on the chart. Bricks will align to round price numbers on the chart, for example, if 20 pips are selected bricks would align to prices like 1.25000, 1.25200, 1.25400
• Bars in trend
  The number of consecutive bricks in the same direction is required to form a trend. The brick immediately before the trend must be in the opposite direction.
• Bars in reversal
  The number of consecutive bricks in the opposite direction to a trade to form a reversal
• Use trend filter
  Select None for no additional trend filter or Moving average to use the moving average trend filter.
  If the moving average trend filter is selected then this is used as additional confirmation before a trade is entered. Only trends where the renko and moving average are showing the same direction will be entered.
  The moving average trend filter simply checks if the current price is above or below the specified moving average line
• MA Periods
  Set the number of periods to use in moving average calculations if the trend filter is used
• MA Method
  Set the method to use in moving average calculations if the trend filter is used
• MA Applied price
  Set the applied price to use in moving average calculations if the trend filter is used
• Trade direction bias
  use this to manually select a trade direction. Options are Buy and Sell, Buy, Sell or None. The EA will only take trades in the selected direction.
• Magic number
  This number will be applied to all trades to allow the EA to identify the trades it has placed
• Trade comment
  This comment will be attached to all trades placed by the EA
• Order size
  Specify a valid size for each order placed by the EA