I think the indicators and boats like this don't help traders any much. . . but this is an easy way to loose your money quickly. . .

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VERY FUNNY ! This is Renko Chart EA and it is testing with normal bar chart , You have to test it with 2 minit Renko chart , then you will get result and actual trade and profit ,

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Is said to be better than Scalper EA xmt. Has not been tested, do not know how the actual situation.

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wrey nice mt4 assar v8
I found this EA on internet and I have done some tests.
It is a amazing

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Thank you.
Do you test this experts on rail account   ?
What was the test result?

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"we have tested it on M5 time frame see the video.."
I don't see any link

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About Renko_Scalper.mq4

The EA primarily focuses on spotting trends and making well-timed buy and sell decisions.

Here's a bit more detail:

The EA monitors two closing prices (Buy1_1 and Buy1_2 for buy signals, Sell1_1 and Sell1_2 for sell signals) on the selected currency pair and time frame. When it detects that Buy1_1 is greater than Buy1_2, it triggers a BUY signal. Conversely, when Sell1_1 is less than Sell1_2, it generates a SELL signal.
Once a signal is generated, the EA takes action by placing either a buy or sell order in the market. It's designed to act quickly to seize potential profit opportunities.
The EA offers risk management features, allowing you to set parameters such as Stop Loss and Take Profit levels. It also provides a Trailing Stop option to lock in profits as the market moves favorably.

Adjustable Parameters:

Magic Number: Assign a unique identifier to your EA. This helps distinguish your EA's trades from others, especially if you're running multiple EAs simultaneously.
SignalMail: Decide whether you want to receive email alerts about the EA's trading activity. Set to True for email alerts, or False to disable them.
EachTickMode: Choose your preferred mode of operation. If set to True, the EA operates on each tick, providing more frequent trading signals. If set to False, it operates on each bar, which may result in fewer signals but can be less resource-intensive.
Lots: Determine the trading lot size, indicating the quantity of currency units to be bought or sold in each trade.
Slippage: Define the maximum allowable slippage in pips. Slippage occurs when the execution price differs from the expected price.
UseStopLoss: Enable or disable the use of a Stop Loss (True/False). A Stop Loss is a predefined price level at which the EA will automatically exit a trade to limit potential losses.
StopLoss: If 'UseStopLoss' is set to True, specify the Stop Loss level in pips.
UseTakeProfit: Choose whether to use Take Profit (True/False). Take Profit is a predetermined price level at which the EA will exit a trade to secure profits.
TakeProfit: If 'UseTakeProfit' is set to True, define the Take Profit level in pips.
UseTrailingStop: Enable or disable the Trailing Stop feature (True/False). When active, it allows the Stop Loss to move in your favor, locking in profits as the market advances.
TrailingStop: If 'UseTrailingStop' is set to True, specify the distance in pips at which the Trailing Stop should activate.

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RenkoLiveChart_v3_2.mq4 is an Indicator

The RenkoLiveChart_v3.2 is simplifying price action analysis. Renko charts, unlike traditional time-based charts, are based solely on price movements.

Here's how it works:

Each Renko brick represents a specific price movement, defined by the "RenkoBoxSize" parameter.
When the price moves by at least the "RenkoBoxSize" in either direction (up or down), a new brick is formed on the chart.
The EA can optionally show wicks, which are small lines extending from the bricks to show high and low price points during that brick's formation.
Renko charts filter out market noise and focus on significant price movements, making it easier to identify trends and reversals. The EA helps you create and manage these charts in your MT4 platform.

Adjustable Parameters:

RenkoBoxSize: This parameter defines the size of each Renko brick in pips. A smaller value will create more bricks, while a larger value will create fewer, but larger bricks.
RenkoBoxOffset: It sets the starting point for your Renko chart. You can think of it as an initial brick position. Adjust it based on your trading strategy.
RenkoTimeFrame: Choose your preferred time frame for the offline Renko chart. It determines how each brick represents a specific time interval, similar to traditional charts.
ShowWicks: Decide whether you want to display wicks on your Renko bricks. Wicks show the highest and lowest prices during each brick's formation.
EmulateOnLineChart: Enabling this option allows you to emulate the Renko chart on your regular MT4 charts. It's a handy feature for comparing Renko and regular charts side by side.
StrangeSymbolName: Some brokers have unique symbol names. Enable this if your broker falls into that category.

RenkoLiveChart_v3.2 can be effective for various trading strategies, especially those focused on trend identification and support/resistance levels.

Here are a few scenarios where it shines:

Trend Following: Use Renko charts to spot and follow trends. Enter long positions when bricks consistently form above the previous ones (uptrend) and short positions for bricks below (downtrend).
Reversal Trading: Look for trend reversals when a series of bricks forms in the opposite direction, signaling a potential change in market sentiment.
Support and Resistance: Renko charts can help you identify key support and resistance levels, making it easier to plan entry and exit points.
Scalping: Traders who prefer quick, short-term trades may find Renko charts helpful for scalping strategies due to their clarity and reduced noise.

Remember, while RenkoLiveChart_v3.2 simplifies price action analysis, it's important to combine it with other technical indicators and risk management strategies to make informed trading decisions.

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