Introduction
Welcome to the no-nonsense guide on using the Owl Smart Levels trading robot. With a rating of 4.63, this robot has its fair share of fans and critics. While some users like Vladimir Ballesteros have experienced a -11% return, others like James Jr Timpson have found it aligns perfectly with their trading style. Let's dive into how to install, configure, and make the most out of this robot.Installation and Setup
Installing the Owl Smart Levels robot is straightforward, but setting it up for maximum efficiency requires a bit more finesse.- Download the robot from here.
- Open MetaTrader 5 and navigate to the File menu.
- Select Open Data Folder and place the downloaded file in the Experts folder.
- Restart MetaTrader 5.
- Drag and drop the Owl Smart Levels robot onto your desired chart.
- Configure the input parameters such as FractalPeriod, ZigZagDepth, and Fibonacci levels.
For optimal performance, ensure that your settings align with your trading strategy. If you're unsure, start with the default settings and adjust as you gain more experience.
User Experience
Using the Owl Smart Levels robot can be a mixed bag. On one hand, it provides clear trend directions and timely trade signals. On the other hand, its performance in ranging markets leaves much to be desired.James Jr Timpson appreciates its alignment with Elder's triple screen strategy, which requires signals to agree with the trend of two higher timeframes. This feature can be particularly useful for traders who prefer trading pullbacks within the overall trend.
Tips for Improvement
To get the most out of the Owl Smart Levels robot, consider the following tips:- Optimize Settings: Regularly adjust the input parameters based on market conditions.
- Backtesting: Conduct thorough backtesting to validate the robot's performance.
- Combine Strategies: Use the robot in conjunction with other indicators or strategies to mitigate its weaknesses in ranging markets.
- Stay Updated: Keep an eye on updates from the developer to ensure you're using the latest version.
Source Code of Owl Smart Levels
We don't have access to the original source code of the Owl Smart Levels robot sold on MQL5. However, we can create a similar code based on its description. If you have any questions about the code, feel free to ask. This example code is provided by easytradingforum.com and is based on the description of the Owl Smart Levels robot available on MQL5. Note that the EASY Trading Team does not sell the Owl Smart Levels robot; we only created a code based on its description.
Code:
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For more details and to download the Owl Smart Levels robot, visit Owl Smart Levels Trading Robot. If you have any questions or need further assistance, feel free to reach out to us.In conclusion, while the Owl Smart Levels robot has its strengths, it's not without its flaws. By following this guide and implementing the tips provided, you can maximize its effectiveness and potentially improve your trading results.