How I build a profitable EA to Renko Scalping Strategy (RSS).

Hello forum members.
I am a trader with 15 years of experience and I wanted to show you my way of building a my profitable EA and strategy using meanr renko candles, and if you prefer, you can use it on classic renko candles.

I am not fluent enough in English to record videos in this language, and pasting subtitles to the video exceeded my patience )
That's why I paste below a transcription from the recording and a link to the original on YT. There will be several videos in total in which I will present the operation of my EA and the outline of the strategy.

Enjoy watching and reading!

Original video accelerated 4x after 8m:10 You can see EA in action. Looks modest at first, but gets the job done


Hello traders and trader trainees! I've been working a bit on my favorite renko candles, which I didn't let go of because they are very interesting candles and it's a great way to see supports, resistances, swings and so on.

All this noise is filtered out. In my earlier recordings, maybe a year or two ago, I don't remember exactly, I've already discussed this several times, so I'm not going to repeat myself but let's see what this whole thing is about.

I want to present you EA or expert advisor for use in the MT 4 platform, which has been improved, written practically from scratch by my programmer and now we are in the testing phase for some time. I decided to show you the most interesting plays and how this Expert works in the next few days, maybe even weeks.
Of course, this Expert is not for the purpose that we release it in the morning and only have to count the money earned. If it was so easy, no one would sell such an EA but keep it a secret. Expert is designed to be used at the right moments and in the right situations.

We need to know when to turn it on and when to turn it off. But before we get to the charts and I show you how it works, I'm going to say a few words about the options in it. And I've only short-circuited the ones that I think are most relevant. Of course, if you need to make any changes, such changes will be made without any problem.

So this Expert has the task of opening and closing positions, of course, but the renko candles are candles of the same size as we set 5-10-25 pips and so on. So depending on the direction of the trend we have, we can, for example, only enter Long Trade. We have an uptrend, the renko candles go up with small corrections. When the EA opens a position because the price is moving in our direction, there is a correction and the Expert closes the position on the opposite candle, or on two opposite candles depending on how the person sets up. And then when the price moves back up he immediately opens a position back in the same direction.


Of course you can enable only Short Trade, i.e. only short positions in a downtrend, so if both these options, Long Trade and Short Trade are enabled, i.e. set to True mode, Expert plays both ways. We also have the option to disable the EA from the panel, you will soon see such a panel on the charts, there are two buttons, one ON and OFF.
We use these buttons when we want to leave the expert off, so that he does not open any positions, neither short nor long, and the position that is currently open is to be continued manually, we do not want the EA to close it on corrections. In scalping this style of play does not work very well, because the renko candles can build up very, very quickly, or one candle can build up for several minutes, depending on the situation on the chart.

As you look at your charts, for example, 5 or 15 minutes we see just that there are periods of consolidation when the price practically dies and nothing interesting happens. Of course in the Expert is also built in take profit and stop loss option. But let's agree, if the Expert opens a position and have to close it on the opposite candle or two opposite, the stop loss is not necessary, although I always put SL, because if something happens or we are cut off from the Internet for some reason, lack of electricity, or something similar, that the stop loss is somewhere there. The same with the take profit option, the EA will continue until a correction occurs in a fixed number of candles, when the position will be closed automatically.

Of course, there is also a position management option, somthing like a money management. You can set yourself when to break-even and after how many pips to switch to the plus. During the trade you can also click on closing a percentage of the position, for example close 50% or any other part of the open position, and the rest is handled by EA.
I also wanted EA to open the appropriate position size in relation to the distance to the stop loss and deposit size. In short, if you set the stop loss to 10 pips and the SL to be 2% of the deposit, Expert will adjust the position size to the SL. This means that each time the Expert will open a position, you will risk a fixed percentage of 1, 2, or 3 percent of your deposit, depending on how much risk you like to take.

In a nutshell, I think that's it for now. I will post here some of my trades and videos about the strategy itself. I will also show you how big the risk is when we leave the expert out of the consolidation. When he will give us positions in both directions and how it can end. Let's try not to do it, i.e. with the trade-off button turn off the EA in unfavorable conditions. When the consolidation ends, the price breaks out of the consolidation, we turn on the EA, and after the first correction, when the price returns to the direction of the breakout, the EA enters another transaction in the direction of the breakout.
That's it for now, let's look at how EA plays in real conditions. On the recordings that will be made now there is a 2% risk, so in total it is quite modest for scalping. See that when he catches a nice movement he can earn a few percent. Okay, that's it, I invite you to the next part of the story.

Next video. 8 a.m. Renko scalping. EA set to Short Trade Only mode. After +6 pips EA closes 60% of the position, the rest is closed after the first opposite candle. Within an hour the expert made +6.8% of the deposit.





to be continued.......

Scalping hour at 16-17 CET. EA in Long Trade mode.
The risk 1.9% , profit 31.3%.
Not often such a day happens, but if we know what to do and how to do it, anything is possible.
You'll see a new, more functional version of EA in the next videos.

Hello traders,
today's short because everything happened so fast I didn't even have time to run the screen recorder to record this Trade. I will tell you what my rule is, if I sit down in the morning to look at the charts at the start of the London session and nothing interesting happens for the next hour I just turn off the platform. I learn this discipline simply. I only turn the platform on during the New York session, so it was the same today.

I tried to turn on the expert on macro data at 13:45 It was a massacre, it was just so fast everything was changing. Since the mrenko candles are relatively small so the EA could barely keep up with the reaction. So if any of you in the future using this EA would like to play with it during the publication of data, I rather not recommend it. There is a possibility that the price may jump over the orders that the expert places.

In such situations I just turn off the platform and wait until the market calms down. Today at about 14:50 I started the platform, set the EA to Long Trade Only mode. I expected that during the New York session all the shorts that flew on the data would be reversed. In the meantime, I was doing something on the side for a while and at one point I noticed the EA starting to collect all the long positions. It was not as fast as during the data, but it was quite dynamic and the EA kept up with all the changes that you can see on the screenshot below. Several trades were concluded without my participation and I got a small shock when I saw that the deposit was increased by about 130%. Unfortunately, I didn't have time to capture it on video, everything was moving so fast.


It's all nice and pretty, but I still want to warn enthusiasts and especially novice traders that this kind of trading is not about drinking Pina Colada and watching the deposit grow. No, it does not work like that.
You simply need to know when to run an EA and in which direction. This will be covered in a separate strategy.

I'm still working on the EA development and trying to add sensible features so that you can change the rules and directions of the game very quickly i.e. Only Long, Only Short, Both etc. I know that the plays presented here are the result of favorable market conditions that do not happen every day, but if you can make even a few percent of this with a reasonable MM, you should give this strategy a chance.

I also want to preempt any questions like: how much does this make in a month? Show me the statement, what are the results for the last 12 months etc.
This is not a set and forget strategy, even the best tool in the hands of an amateur becomes useless or even dangerous. Once you learn how to use it, it can give you unlimited possibilities.
Once again, the trick is to learn to interpret the behavior of the market and trigger the expert at the right moments when you would not be able to react fast enough manually. An EA has only one task: when the conditions for opening a trade are met, it opens it. There is no room for hesitation or thinking, the expert will do it better and faster than us. I think that, this Expert has a great potential and can do a very good job for us, provided that we learn how to use it.

The stops loss you see here on the screen is a rescue stop, just in case. It is about 3-4%, but in reality the EA closes the position on the opposite renko candle (or on any number of opposite candles, depending on how you set the EA), which gives us a value of 1-2% depending on the settings. You can always play with a smaller position and set a maximum loss of 0.5-1%. We also have to reckon with the slippages that the broker gives us free of charge, so sometimes these values may be a bit different from what we expect.

Of course there are days when you earn 1-2% and there are also days when you can get 20-30%, everything depends on your risk tolerance. As you play with the EA and the strategy longer, you will know what you can afford and what risk you should start with.
I am not going to use here marketing gibberish that using such EA Johnny B. bought himself a new BMW from an auto dealership and Jack C. is looking at a new house. I'm not going to sell anyone's dream of making a quick fortune, although I could. That would be unfair.






See now the above screenshots I took after EA finished their work for me. The mess is terrible, on the left you can see the beginning when I started EA. I quickly realized that EA was set in Short Only mode so I quickly changed the settings to Long Only. You can already see there the first correct transactions and very quickly it went further without my intervention. There is not much to discuss, on the screenshot you can see exactly how the EA pulled each position beautifully and did a very good job indeed.
I think it would be very difficult to achieve such a result manually at 2% risk even for a very fast scalper. And even impossible on ordinary Japanese candles.


That EA you saw in action was a very early and poor project. Over time I've been adding new features to it which in my opinion made it work better and at the same time made it light and fast. It went through quite a transformation which I will show you in the next posts.
To sum up, the reasonable use of strategies and money management, and knowing when and what to do, quite realistically will allow us to earn a few percent of the deposit without any magic and miraculous indicators. Be patient, don't break your rules, learn from other people's mistakes and not your own. You can start with a really small account of a few hundred usd and test your behavior and knowledge at a low cost. Even a few small losses with this strategy do not have to be painful when you know that one good move can give you profits of 10-15% and more.
Stay in touch.

can you share the EA?