Introduction
The Tabajara VWAP Ogro RSJ is a trading robot developed by a Brazilian trader known as 'The OGRO of Wall Street'. With a rating of 4.81 and mixed user reviews, it's time to dissect this robot's functionality and performance. Does it live up to the hype, or is it just another overhyped tool in the crowded world of Forex trading?Function Description
The Tabajara VWAP Ogro RSJ uses a combination of VWAP and multiple moving averages to indicate market trends. It paints candles in four colors to signal different market conditions:- Green: Price rising in an upward trend (look for purchase).
- Black: Price correcting in a bullish trend (look for purchase).
- Red: Price falling in a downtrend (look for sale).
- White: Price correcting in a downtrend (look for sale).
- Exponential Moving Average (EMA) of 8 periods for short-term price movements.
- Simple Moving Average (SMA) of 50 periods for medium-term price movements.
- Exponential Moving Average (EMA) of 80 periods for medium-term price movements.
- Simple Moving Average (SMA) of 200 periods for long-term price movements.
Performance Analysis
Over the past year, the Tabajara VWAP Ogro RSJ has shown mixed results. User 'dallagnol81' praised it for delivering as described, while 'ahmadiiiii' found it not bad, which is hardly a ringing endorsement. 'AyrtonMB' called it a very good assistant, but let's not get carried away. The robot's performance is decent but not groundbreaking. It performs well in trending markets but struggles during sideways movements, which is a common issue with many indicators.Pros and Cons
Pros:- Intuitive color-coded signals make it easy to identify market trends.
- Incorporates multiple moving averages for a comprehensive market view.
- Free to use, which is always a plus.
Cons:
- Mixed user reviews indicate inconsistent performance.
- Struggles in sideways markets.
- No guarantee of profits, which should be a given but often overlooked.
Source Code of Tabajara VWAP Ogro RSJ
We don't have access to the original source code of the Tabajara VWAP Ogro RSJ sold on MQL5. However, we have created a code based on its description available on the MQL5 website. This example code can be found on our website. If you have any questions about the code, feel free to ask. Remember, the EASY Trading Team does not sell the Tabajara VWAP Ogro RSJ; we only provide a code example based on its description.
Code:
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