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RENKO LIVE CHART EA
Very profitable EA with very good result
Proof it.
Happy trades an green pips
Best Regards!
RenkoLiveChart_v4.13 Indicator
https://mt4talk.com/viewtopic.php?pid=110#p110
When you first install and load the RenkoLiveChart_v4.13 EA in your MetaTrader 4 platform, it begins by checking your trading environment and the settings you've configured.
This EA starts by processing historical data from your chosen currency pair (e.g., EUR/USD) and time frame. It uses this data to create your initial Renko chart.
As the live market data starts coming in, the EA works its magic. It continuously monitors the price movements.
When it detects a price movement that meets the criteria you've set, it builds new Renko bricks on your chart.
The size of these bricks is determined by your specified RenkoBoxSize. This means that you're filtering out noise and focusing on price changes that matter to you.
RenkoLiveChart_v4.13 goes the extra mile by adding informative comments directly to your chart. These comments guide you on how to view and interpret your Renko chart effectively.
This EA, RenkoLiveChart_v4.13, is particularly useful for traders who prefer a more visual and noise-free approach to trading.
Here's a recommended strategy:
1. Trend Following:
Renko charts excel at helping you identify and follow trends. You can use this EA for trend following strategies.
Look for instances where Renko bricks clearly show a trend direction. For example, consecutive green (upward) bricks indicate an uptrend, while consecutive red (downward) bricks suggest a downtrend.
Combine this with other technical indicators like Moving Averages to confirm trends and entry/exit points.
2. Breakout Trading:
Renko charts are fantastic for spotting breakout opportunities. When you see a sequence of bricks moving in one direction and breaking through support or resistance levels, it can signal potential breakout trades.
Set stop-loss and take-profit levels based on the Renko chart's structure.
3. Scalping:
If you're into scalping, the RenkoLiveChart_v4.13 can be a valuable tool. Scalpers thrive on quick, small price movements, and Renko charts can help you filter out the noise and focus on these micro-trends.
4. Swing Trading:
Swing traders can also benefit from this EA. Renko charts provide a clear view of swing highs and lows, making it easier to identify potential reversal points.
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