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Forte4Renko EA MetaTrader 4

Forte4Renko EA MetaTrader 4

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Forte4Renko EA MetaTrader 4
Forte4Renko is the mix between ForteFX Forex Trading Strategy, Renko noiseless charting and Heiken Ashi candles trend smoothing. The core of the trading strategy is the “trend score.“ For Forte4Renko we developed three new algorithms to calculate it, and they are based on: Renko boxes (i.e., pure price action) Heiken Ashi Smoothed Heiken Ashi The […]
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Forte4Renko is the mix between ForteFX Forex Trading Strategy, Renko noiseless charting and Heiken Ashi candles trend smoothing. The core of the trading strategy is the “trend score.“ For Forte4Renko we developed three new algorithms to calculate it, and they are based on:

Renko boxes (i.e., pure price action)
Heiken Ashi
Smoothed Heiken Ashi
The trend score is based exclusively on the chart the EA is trading on. No need to download long-term historical data for different timeframes and currencies. The strength of a trend is simply calculated by counting the number of past “candles” that show the same direction, up to some 5. A candle may be a Renko box or a Heiken Ashi candle (smoothed or simple).

As an example in the screenshot above you can notice that there are 3 closed blue Smoothed Heiken Ashi boxes in a row (we don’t count the most recent one which is already forming), therefore trend score = +3 in this case (assuming the user has selected the trend score algorithm based on Smoothed Heiken Ashi). Thanks to the noise filtering of the Renko chart and the smoothing of the HA indicator, the EA can trade the trend like never before. We put all we’ve learned so far with ForteFX into it. All the features (and even more) has been adapted to the new no-time-based charting. And we added some… for example, now you can set the entry trend score filter for every single trade. If you like and trade with ForteFX, you’ll love Forte4Renko

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