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The PFX renko Assistant is an ea especially designed to trade on Renko charts. The Ea trades only with the trend and produces a steady win rate of between 65% to 80%.
The suggested Renko bar size is 2.5 pips and a stop loss of 10 pips and take profit of 5 pips.
The Ea can be used on the standard candle stick charts but the win rate will no be as good as using it with Renko bars.
The Idea behind the Ea is to follow the trend and look for pullbacks, once there is a pull back in the market the Ea then looks for price to be over bought or sold identifying that the pullback is exhausted and the market is likely to continue in the direction of the trend.
The EA has a built-in Money management so you can chose what percentage of your account you are willing to risk on each given trade.
