So how it really works? Renko Scalper EA entry points are simple but effective. As you can see from the picture Scalper EA strategy contains Renko charts of 10 pips per bar and Simple Moving average of 100 (can be changed to what you desire). Renko bars will be the main entry trigger, but it has to be confirmed by the best classical indicator – simple moving average. Robot will never enter the market against the trend. Renko Scalper EA will enter the market in such conditions:
SELL – Price is bellow the moving average, at least two red renko bars have formed in a row.
BUY – Price is above the moving average and at least two green bars have formed in a row.
EA by default uses 10 pips StopLoss.
You can also reverse EA to trade in opposite way. Scalper EA can also use trailing stop, so you could capture even the smallest profit. Looks simple right? It is very simple and easy, but very accurate and effective!