Renko Reversal Collection: Free MT5 Expert Advisor

Overview

The main robot identifies trend shifts by simulating Renko bricks on standard OHLC bars, entering and exiting trades based on a configurable number of consecutive bricks. It includes several filtering options such as an EMA trend filter, a 200-period SMA bear regime filter, and session-based trading windows. Risk management is handled through ATR-based brick sizing, emergency percentage-based crash stops, and portfolio equity peak protection. The code includes an optional martingale lot scaling feature.

Renko brick simulation on standard OHLC bars

ATR-based or fixed brick size calculation

Multiple trend filters including EMA and SMA

Portfolio protection based on equity peak percentage

Details

Input parameters

Read from metatrader_rendo_trend_ride.mq5. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`UseAtrBrick`	`bool`	`true`	Auto brick size (ATR-based)
`AtrPeriod`	`int`	`14`	ATR period
`AtrMult`	`double`	`2.0`	ATR multiplier (brick = ATR × mult)
`FixedBrickSize`	`double`	`10.0`	Fixed brick size (when ATR OFF)
`AllowLong`	`bool`	`true`	Allow Long (buy on N up bricks)
`AllowShort`	`bool`	`false`	Allow Short (sell on N down bricks)
`EntryBricks`	`int`	`2`	N bricks to confirm entry & exit
`CrashStopPct`	`double`	`15.0`	Crash stop: % from entry (emergency SL)
`UseEmaFilter`	`bool`	`true`	EMA trend filter
`EmaPeriod`	`int`	`200`	EMA period
`UseBearFilter`	`bool`	`false`	Bear regime filter (SMA 200)
`BearConsecBars`	`int`	`10`	Bars below SMA to confirm bear

Show all 23 inputs

Name	Type	Default	Description
`BearExitBars`	`int`	`5`	Bars above SMA to clear bear
`UseSession`	`bool`	`false`	Only trade during session window
`SessionStart`	`string`	`08:00`	Session start — server time HH:MM
`SessionEnd`	`string`	`17:00`	Session end — server time HH:MM
`UseEquityPct`	`bool`	`true`	Size as % of equity
`MarginEquityPct`	`double`	`0.2`	Margin % of equity per trade
`FixedMarginAmt`	`double`	`2000.0`	Fixed margin (when % OFF)
`LeverageMult`	`int`	`1000`	Leverage multiplier
`PortfolioStopPct`	`double`	`50.0`	Emergency stop: % loss from equity peak
`UseMartingale`	`bool`	`false`	Enable Martingale (double on loss)
`MaxMartLevel`	`int`	`3`	Max doubling levels (cap)

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone PETERSAMUELOPS12/basicopenclaw from GitHub, and unzip it.

2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.

3Copy the filesCopy the .mq5 file into Experts.

4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.

5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.

Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.

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Renko Reversal Collection

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