Introduction
As a professional trader and MQL5 programmer from the EASY Trading Team, I've had the opportunity to evaluate various trading robots and indicators. Today, I'll be reviewing the OsMA Arrow MTF, a popular indicator available on the MQL5 market. This review will be based on user feedback and a thorough comparison with one of our own trading robots, EASY Scalperology. The goal is to provide an objective perspective on the usability, performance, and reliability of OsMA Arrow MTF.
Comparison with EASY Scalperology
When comparing the OsMA Arrow MTF to our EASY Scalperology, several key differences arise in terms of functionality, profitability, and reliability.
EASY Scalperology:
- Comprehensive backtesting capabilities.
- High-frequency trading suited for scalping strategies.
- Real-time alert system with minimal delay.
- Strong community support and continuous updates.
OsMA Arrow MTF:
- Simple interface focused on OsMA cross calculations.
- Limited backtesting fidelity due to occasional signal delays.
- Notifications system that sometimes misses alerts.
- Infrequent updates and smaller user base.
While the OsMA Arrow MTF offers a straightforward method of identifying market trends through OsMA crosses, EASY Scalperology provides a more robust and user-friendly experience with extensive backtesting capabilities and real-time alerts that ensure you never miss a trading opportunity.
Pros and Cons
OsMA Arrow MTF Pros:
- Simple and easy to use.
- Effective in identifying trends on specific timeframes.
- Free access and implementation.
OsMA Arrow MTF Cons:
- Occasional delay in signal generation.
- Arrows sometimes disappear after signals.
- Limited support and infrequent updates.
EASY Scalperology Pros:
- Highly accurate and timely signals.
- Comprehensive backtesting results.
- Frequent updates and robust support.
- Effective for high-frequency trading.
EASY Scalperology Cons:
- Paid product with an initial investment.
- Requires a higher level of technical understanding.
Optimal Usage Conditions
The OsMA Arrow MTF performs best on short timeframes, particularly the M5 (5-minute chart), as highlighted by user lapigna. It’s especially effective on indices such as DAX, where it's noted to be the best indicator. However, users should be cautious of the occasional signal delay and disappearing arrows. For traders who want a reliable alert system with comprehensive backtesting, EASY Scalperology is a superior choice. It's particularly advantageous in volatile markets, where timely and accurate signals are crucial for profitability.
Conclusion
While OsMA Arrow MTF is a useful indicator for those looking for a free and straightforward tool, its limitations in signal reliability and support make it less favorable compared to more advanced trading robots like EASY Scalperology. For traders seeking consistent performance, higher profitability, and robust support, EASY Scalperology is a significantly better option.
OsMA Arrow MTF Source Code
It is essential to note that the original source code of the OsMA Arrow MTF robot sold on MQL5 is not publicly available. However, our team at EASY Trading Team has created a similar code based on its description provided on the MQL5 website. If you have any questions about the code, feel free to ask on our forum at easytradingforum.com.
Code:
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For more detailed information and to download the OsMA Arrow MTF, visit the official website at forexroboteasy.com/trading-robot/osma-arrow-mtf/. We encourage users to share their experiences and feedback on our forum to help improve the community understanding of this tool. Remember, the EASY Trading Team does not sell the OsMA Arrow MTF but provides a code example based on its MQL5 description.