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Renko Arman EA4 Review

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Renko Arman can be found within the MQL5 marketplace under the Experts heading. It was created and uploaded by Samir Arman on the 29th of March 2020, it has not had any updates yet so it is still at version 1.0.

Overview

Renko Arman EA4 is an expert advisor for the MetaTrader 4 trading platform, its main purpose is to work with Renko charts, not a lot of information has been given about the EA.

The developer has given a few recommendations when using the EA:

  • It is best used on the EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, and more
  • Use with any currency with spreads under 8 pips
  • Timeframe recommendations are not fixed
  • Recommended leverage of 1:400 or more
  • A minimum deposit amount of at least $1000 per 0.01 lots size

There are also some parameters available to fiddle with, these include the lot sizes, auto lot management, maximum risk to use, take profit levels, stop loss levels, time to start and finish trading, magic numbers, and more.

Service Cost

The EA will cost you a huge $1000 to purchase it outright, this is a big investment and will allow you to activate the EA up to 5 times. There is an option to rent it, this can be done on a monthly basis and will cost you $300 per month. A free demo version is also available to try out, but this can only be used with the strategy tester of the MT4 platform rather than on a live account.

Conclusion

At the time of writing, there were no user reviews or ratings for this EA, this makes it hard to know whether people are finding it useful or if it functions at all. There are also no comments from users or the developer so we also do not know whether it is being actively supported. Due to its high price, we would very strongly suggest getting in contact with the developer before making a purchase, this way you will be able to make sure that it works for you and that it will be supported should you need any help.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47814

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