RobotFX curates the best open-source MetaTrader code to inspire your trading automation.
Protect profits effectively with the smart Trailing Stop Expert Advisor. Advanced trailing options for MT4/MT5. See it in action.
How it works
- The EA builds fixed-size Renko directly from BID ticks.
- Classic two-brick reversal logic is used.
- A confirmed DOWN -> UP Renko reversal creates a support zone.
- A confirmed UP -> DOWN Renko reversal creates a resistance zone.
- Price must first move away from a new zone before a retest is accepted.
- If price returns to the zone and a completed Renko brick confirms rejection away from it, the EA opens a trade.
- Each zone can be traded only once.
- A position is closed by take profit, stop loss, opposite Renko reversal, or maximum holding time.
- Only one position on the symbol is allowed.
- A spread filter blocks entries when the current spread is too large relative to the Renko brick.
Default inputs
Brick Size = 18.0
Zone Half Width = 1.65 bricks
Minimum Move Away = 0.90 bricks
Maximum Zone Age = 53 completed bricks
Take Profit = 5.50 bricks
Stop Loss = 2.90 bricks
Maximum Hold = 680 minutes
Maximum Spread Fraction = 0.30
Lots = 0.01
Example Strategy Tester run
Broker: RoboForex Ltd
Symbol: XAUUSD
Host timeframe: M1
Model: Every tick based on real ticks
Period: 2026-05-01 to 2026-08-24
Initial deposit: 10,000 USD
Leverage: 1:500
History quality: 100% real ticks
Trades: 72
Net result: +1,026.29 USD
Profit Factor: 2.33
Maximum balance drawdown: 117.88 USD (1.09%)
Maximum equity drawdown: 147.51 USD (1.36%)
Winning trades: 58.33%
The parameters above were selected on this historical interval for demonstration. The result is not evidence of a persistent trading edge, a recommendation, or a promise of future profitability.
This example intentionally uses a much simpler zone model than the visual GDS Auto Renko Support and Resistance Zones indicator. Its purpose is to keep the source code easy to read and show how a Renko zone concept can be converted into a mechanical trading example.
Related visual indicator on MQL5 Market:
The chart timeframe is only a host. Renko construction is driven by incoming ticks rather than M1 bars.
No DLLs, external libraries, custom indicators, custom symbols or offline Renko charts are required.
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