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Showing posts with the label how to trade renko bars

Renko Expert Advisor

The RobotFX Renko Chart is an expert advisor that allows the creation and use of the renko bars charts on Metatader. As you probably know already, the Metatrader doesn’t have renko bars, its defaults being candlesticks, line and bars.
Before you load the EA on the chart it is recommended that you switch to the M1 time-frame and uncheck the autoscroll box (see above). Then keep pressing the Page Up button on your keyboard so the chart will scroll back a few months to load the history data. By default, the Renko EA will build renko charts of 10 pips bar size. You have the possibility to change the bar size with any other value (in pips) you want or use the automatically calculated ATR bars.
Don’t forget to click the MetaTrader’s AutoTrading button. After the expert advisor loads on the M1 chart and creates the offline renko bars chart (default timeframe is M2) you should see the instructions in the left corner of the M1 chart. Now click the menu File > Open Offline and choose the M2 …