GDS Renko Fast EA
Info
The GDS Renko Fast EA is a Expert Advisor for MetaTrader 5 that how it works- a slow renko stream defines the current direction. - A fast Renko stream provides the entry trigger.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use GDS Renko Fast 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
How it works- A slow Renko stream defines the current direction.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: GDS Renko RSI + MACD 4-Mode EA - another powerful expert for MetaTrader 5 traders.
How it works- A slow Renko stream defines the current direction.
- A fast Renko stream provides the entry trigger.
Also recommended: GDS Renko Trade Manager for MetaTrader 5 - similar expert with strong performance on MetaTrader 5.
- Both streams use classic two-brick reversal logic and are built internally from BID ticks.- A trade is allowed only when the fast and slow Renko directions agree.
- The position is closed by a short price target, stop, opposite fast Renko reversal, or maximum holding time.
- After an exit, a short Renko cooldown is applied before another entry.
- Only one position on the symbol is allowed.
- A simple spread filter blocks entries when the spread is too large relative to the fast brick.
Default inputs
Fast Brick Size = 21
Slow Brick Size = 39
Entry Run Bricks = 1
Take Profit = 1.4 fast bricks
Stop Loss = 2.1 fast bricks
Maximum Hold = 200 minutes
Cooldown = 3 fast bricks
Maximum Spread Fraction = 0.57
Lots = 0.01
Example Strategy Tester run
Broker: RoboForex-ECN
Symbol: XAUUSD
Host timeframe: M1
Model: Every tick based on real ticks
Period: 2026-05-01 to 2026-08-24
Initial deposit: 10,000 USD
Leverage: 1:500
Lot: 0.01
History quality: 100% real ticks
Trades: 79
Net result: +589.34 USD
Profit Factor: 2.27
Maximum equity drawdown: 118.64 USD (1.18%)
Winning trades: 64.56%
The example above is a historical demonstration. The default parameters were selected for this demonstration and are not evidence of a persistent trading edge, a recommendation, or a promise of future profitability.
The chart timeframe is only a host. Renko construction is driven by incoming ticks, not by M1 bars.
No external libraries, DLLs, indicators, custom symbols or offline Renko charts are required.
You may also like: GDS Renko Dual MA EA - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "2.10"
#property strict
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
input double InpFastBrickSize = 21.0;
input double InpSlowBrickSize = 39.0;
input int InpEntryRunBricks = 1;
input double InpTakeProfitBricks = 1.4;
input double InpStopLossBricks = 2.1;.......
⚠ 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.