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What is Renko EA?

Renko Expert Advisors consist of two distinct Metatrader tools: the Renko Chart EA, which generates renko charts, and the Renko Trader EA, which facilitates trading based on these renko brick charts. The primary capabilities of the Renko EAs include the ability to create offline Renko charts using custom names like M2, M3, and M4, while avoiding the standard M1, M5, M15, or M30 configurations. These Renko charts need to be consistently updated to enable traders to execute manual trades or to utilize expert advisors for automated trading. Additionally, the system can utilize the Parabolic SAR (PSAR) to determine when to open or close trades based on the color of the Renko bricks. The Renko Charts EA serves as a MetaTrader expert advisor that allows users to create and utilize Renko bar charts, which are not natively available in MT4 since it primarily relies on candlestick, line, and bar charts. Meanwhile, the Renko Trader EA is designed to trade these Renko bricks, helping users identify market trends and providing the option to buy during an uptrend or sell when a downtrend is detected. Ultimately, both tools enhance trading strategies by incorporating the unique characteristics of Renko charts, allowing traders to make more informed decisions in the market.

What is BF Smart Scalper EA?

The BF Smart Scalper EA, while seemingly straightforward, is grounded in a fundamental trading concept that has stood the test of time in the markets: making entries in the direction of a significant market impulse after observing a meaningful correction. This approach taps into the inherent psychology of traders, a factor that remains unchanged over time. To mitigate the risks associated with over-optimization, we designed BF Smart Scalper EA to be as uncomplicated and user-friendly as possible. Below, you will find the backtest results for our forex robot, BF Smart Scalper, specifically utilizing the currency pairs GBPUSD and USDCHF. Additionally, it supports other pairs like EURUSD and is fully compatible with all MetaTrader 4 brokers, including those operating on an ECN model, with no need for adjustments to the default settings. The EA allows for flexible risk management, enabling users to select an auto money management risk level from 2% (low risk) to 10% (high risk), depending on their account size and financial objectives, with recommended fixed lot sizes of 0.05 for a $1,000 balance and 0.5 for a $10,000 balance. If you choose to trade multiple currency pairs simultaneously, it is advisable to lower the risk to maintain a balanced approach to trading. This comprehensive framework ensures that traders can navigate the complexities of the forex market with confidence and clarity.

Media

No images available

Media

Integrations Supported

MetaTrader 4
MetaTrader 5

Integrations Supported

MetaTrader 4
MetaTrader 5

API Availability

Has API

API Availability

Has API

Pricing Information

$98
Free Trial Offered?
Free Version

Pricing Information

$97 one-time payment
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

RobotFX

Date Founded

2006

Company Location

United Kingdom

Company Website

www.robotfx.org/p/renko.html

Company Facts

Organization Name

FXautomater

Company Website

www.fxautomater.com/forex-robots/bf-smart-scalper-ea

Categories and Features

Categories and Features

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