DrawRectangular

DrawRectangular

DrawRectangular EA

The Expert draws Renko rectangles and the levels of development of the following "bricks" directly on the chart, can be used as an indicator. The order may be opened on or against (sets in the settings) the trend, depending on the size of the shadows of the last two Renko bars.

Expert features:

• No more than one order per symbol;
• You must set the size of the last two shadows: "from" and "to";
• Management of lot size depending on the deposit;
• Adjustable size Renko bar;
• Pending orders open without stop-loss and take-profit, with modification immediately after initiation;
• Renko bars are built taking into account High, Low, Open and Close prices, consequently, the most accurate algorithm of construction is implemented;
• Consider only the lower shadows of the "bull" bars and only the upper shadows of the "bear" bars.

Expert settings:

• FirstBar - the number of the bar from which to start drawing rectangles, if 0 - use all the bars on the chart;
• CandleSize - the size of the Renko bar, by default 25 pips;
• MaxRecAmount - the maximum number of rectangles on the graph when exceeding which rectangles begin to be deleted, if 0 - the rectangles are not deleted;
• Direction - the direction of opening the order, 1 - according to trend, 2 - against the trend;
• Lot - lot size, if 0 - BalanceFactor is used;
• BalanceFactor - the size of the deposit for opening 0.01 lot, the default is 1000;
• StopLossSize  - stop-loss calculation coefficient: SL = StopLossSize * CandleSize;
• TakeProfitSize - take-profit calculation coefficient: TP = TakeProfitSize * CandleSize;
• Last_Tail_from - the shadow size for the last formed rectangle "from";
• Curr_Tail_from - the size of the shadow for rectangle which is forming "from";
• Last_Tail_to - the size of the shadow for the last formed rectangle "to";
• Curr_Tail_to - the size of the shadow for the rectangle which is forming"to";
• Rec_Color_UP - color of the ascending rectangle;
• Rec_Color_Down - creates a descending rectangle;
• Magic - "magic number" for the order;
• Com - comment to the warrant.

The best time frame for expert installation is M1. It will provide the most accurate drawing of the rectangles.
If the stop loss or take profit are close to the price, the expert will try to modify the order 3 times, in case of failure, it will increase the  stop loss and take profit twice.