Renko Live Charts EA
Info
The Renko Live Charts EA is a Expert Advisor for MetaTrader 4 that real-time renko chart builder for metatrader 4/5. Inspired by the original Renko script by 'e4' (renko_live_scr.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Renko Live Charts EA
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
Real-time Renko chart builder for MetaTrader 4/5.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: RSI Live Trading Strategy - another powerful expert for MetaTrader 4 traders.
Real-time Renko chart builder for MetaTrader 4/5.Inspired by the original Renko script by 'e4' (renko_live_scr.mq4), this EA attaches to a chart (preferably 1-minute) and constructs an offline Renko chart with customizable box sizes.
Also recommended: Renko Scalper - similar expert with strong performance on MetaTrader 4.
This version is an enhancement of v4.12, with the following updates:
- Added a startup option to build offline charts during market downtime, ensuring charts are ready when the market opens.
- Modified the Renko box size variable to support double precision, allowing for 5-digit currency accuracy (e.g., 5.5 = 55 pipettes).
Aug 22, 2026 Update:
- Improved box size accuracy to 7.5 pips on 5-digit broker platforms.
Note: This EA is designed to facilitate Renko chart analysis, a popular trading strategy. For discussions on trading strategies, please refer to dedicated forums.
You may also like: Renko EA: Updated for MetaTrader 2026 - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#include <winuser32.mqh>
#include <stdlib.mqh>
#import "user32.dll"
int registerwindowmessagea(string lpstring);
#import
#define renko_version "v4.13"
extern double renkoboxsize = 10;
extern int renkoboxoffset = 0;
extern int renkotimeframe = 2; // what time frame to use for the offline renko chart.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.