A Professional's Guide to Using the Auto Support and Resistances Trading Robot
Welcome to the world of algorithmic trading, where you're here to get the cold, hard facts about the intricacies of using the Auto Support and Resistances trading robot. If you're expecting sugar-coated promises of overnight riches, you might want to look elsewhere. But if you want an in-depth and brutally honest review from a pang of skepticism and years of experience, then buckle up and read on.
Installation and Settings
To be on the trading field with the Auto Support and Resistances bot, the first stepping stone is installation and configuration. Luckily, even with a hint of sarcasm, it's as straightforward as it can get.Simply head over to the official website and download the software. It's compatible with the MetaTrader 5 platform and once installed, it can be accessed from the 'Navigator' panel under 'Expert Advisors'.
The configuration process is where things get a bit murky. Although Sergey Zhuravkov, Wilhelm Koch, and others have rated the bot highly, user Nikolay Mitrofanov raised a concern about the bot's interaction with broker data. We've noted that too, and although some information is indeed required to determine support and resistance levels, the exact data it requests can be a mystery.
The Trading Experience
As Evgeny Belyaev noted, the Auto Support and Resistances bot can indeed be a handy tool for traders. It automatically identifies and draws support and resistance levels, offering a visual aid for technical analysis.The bot is particularly useful in choppy markets where price action can be erratic. However, it's not infallible. Like any tool, its effectiveness highly depends on user understanding and discretion. So, while it's automated, treat it as a guide, not an oracle.
A few tips for an optimal experience:
1. Keep an eye on market volatility. More erratic price movements can lead to less reliable support and resistance levels.
2. Combine the bot's signals with other indicators to validate its predictions.
3. Don't forget risk management. No bot can promise 100% profitable trades.
The Source Code of Auto Support and Resistances
Now, the ingredient that's often shrouded in a veil of secrecy: the source code. While the original source code of the Auto Support and Resistances trading robot is not publicly accessible, we at EASY Trading Team have developed a similar code based on the robot's description on the MQL5 marketplace.Questions? Feel free to ask. Remember, this is a sample code from easytradingforum.com, created after a careful study of the Auto Support and Resistances bot. We do not sell this bot, we're just audacious enough to recreate a similar one based on its description.
Code:
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