Renko Arman EA3 is a robot created in March 2020 by Egyptian developer Samir Arman. Samir Arman is a prolific creator of Eas and has a lot of trading tools in the MQL market.
The expert consultant is working on Renko’s chart. Renko’s charts focus on price changes that meet a minimum requirement and completely ignore time. Because of this, they are somewhat similar to dot and figure graphics, or perhaps to tics graphics. No matter if it takes a week for the price to change, there will be no marks on the chart until the price changes. Renko looks a little different from other graphics because they use bricks, which can be considered as candles with only the body.
Main Parameters of Renko Arman EA3
- Lot1: Manual batch size.
- Auto lot: Automatically calculate optimal batch size based on risk preferences.
- Max risk: Max Risk as a percentage of Equity.
- Take profit: Control the size of the target by the number of pip you should not use.
- Stop loss: Stop loss control by the number of pip you should not use.
- Time start: Start of expert work on GMT time.
- Time end: The job is finished at the same time GMT.
- Magic number: EA Magic Number.
- Currency: EUR or USD.
Renko Arman EA3 Recommendations
The EA works technically on any currency pair, but for best results use on the following curves: EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, EURJPY, and USDCAD, or any other currency that spreads less than 8 pips spread.
-Time frame: For the Renko theory, it does not matter the time frame to choose.
-Recommended minimum amount and leverage: 1:400 or more.
-Minimum Recommended deposit: 1000 USD or equivalent amount.
-Recommended lot size: 0.01.
In conclusion, we are talking about an EA that trades on the basis of Renko’s theory, where the important thing is the price changes and not so much the time in which they occur. When working with an EA it is very important to have a dedicated virtual server or VPS, otherwise, it will be necessary to keep our computer on 24/7 so that all commands are executed correctly. It is also important to have an ECN account in a reliable broker with low latency so that our trades run in the shortest time possible.
This tool has been on the market for a very short time and currently, there are no comments from users who have tried it and can tell us their experience. Given the price of this EA, a high price, we miss that the creator of the tool does not have an audited real account where we can verify the results and know a little more about the operation of the same.
This EA is available for sale on the MQL market at a price of 1500 USD, an investment that is not available to all pockets, so we recommend downloading the demo version to learn more about how this tool works and verify what results can be expected from it. It is also possible to rent this EA at a price of 300 USD per month.