Renko Line Break and RSI EA for MT5
Info
The Renko Line Break and RSI EA for MT5 is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) combines renko line break for trend direction with rsi signals for entry and exit. The core idea is to identify the trend direction using Renko Line Break.
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 Renko Line Break and RSI EA for MT5
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
This Expert Advisor (EA) combines Renko Line Break for trend direction with RSI signals for entry and exit.
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: trade signals based on crossover of main and signal lines of macd indicator - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) combines Renko Line Break for trend direction with RSI signals for entry and exit.Also recommended: mq l5 wizard - trade signals based on crossover of lines of the alligator indicator - similar expert with strong performance on MetaTrader 5.
The core idea is to identify the trend direction using Renko Line Break. When the trend is established, the EA looks for pullbacks confirmed by the RSI. A buy stop order is placed above the maximum price of a bar when the RSI indicates an oversold condition during an uptrend. The stop loss is set a few pips below the lowest minimum of the last three bars, and the take profit is determined by a user-defined parameter.
If a pending order is not triggered, and the RSI remains oversold on the next bar, the previous order is deleted and a new one is placed.
If the buy stop order is triggered, the position is managed and can be closed by:
- Stop loss
- Trend reversal detected by Renko Line Break
- Take profit target reached
- RSI entering the overbought area
If the buy stop order is not triggered and the Renko Line Break changes the trend direction, the pending order is removed.
Installation:
Download the indicator to the MetaTrader 5\mql5\indicators folder.
Download the EA file to the MetaTrader 5\mql5\experts folder.
Parameters:
Minimum Box Size
- Defines the minimum size for the Renko indicator boxes.
RSI Period
- The period used for the Relative Strength Index calculation.
RSI Vertical Shift
- Adjusts the overbought and oversold levels. For example, a shift of 20 means overbought is above 70 and oversold is below 30. A shift of 30 means overbought is above 80 and oversold is below 20.
Take Profit
- The profit target in pips for closing trades.
Indent from High/Low
- The distance from the bar's high or low for placing stop orders and stop losses.
Volume
- The fixed lot size for opening trades.
A test example on EURUSD H4 from January 2026 is available in the attached file.
Example Trades:
Test Chart:
You may also like: trade signals based on dark cloud cover/piercing line + stochastic - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#include <trade\trade.mqh>
#include <expert\money\moneyfixedlot.mqh>
enum mm_mode {
fixed_lot, // fixed lot
fixed_percent // fixed percentage
};.......
⚠ 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.