Introduction
The AW BW strategy based MT5 is a fully automated trading robot that utilizes a combination of Bill M. Williams' indicators. It has received positive feedback from users, such as Jing2017 Neri, who rated it 5 stars and mentioned that it works well as described. This review will provide an in-depth analysis of the AW BW strategy based MT5, compare it with one of the EASY series robots, and discuss its pros and cons, optimal usage conditions, and more.Comparison with EASY Trendopedia
When comparing the AW BW strategy based MT5 with the EASY Trendopedia, several differences and similarities emerge. The AW BW strategy relies on Bill Williams' indicators, including the Alligator, Fractal, AC, and AO, to generate trading signals. In contrast, the EASY Trendopedia focuses on trend-following strategies using advanced moving averages and trend confirmation indicators.Advantages of EASY Trendopedia:
- More robust trend-following mechanism
- Higher profitability in trending markets
- Better risk management features
Advantages of AW BW strategy based MT5:
- Combines multiple indicators for signal confirmation
- Flexible settings for various instruments and timeframes
- Built-in trailing stop and averaging features
While the AW BW strategy based MT5 offers a sophisticated approach to trading, the EASY Trendopedia is generally more profitable and reliable, especially in trending markets.
Pros and Cons
AW BW strategy based MT5 Pros:- Utilizes a combination of Bill Williams' indicators
- Flexible and customizable settings
- Automatic lot calculation and trailing stop features
AW BW strategy based MT5 Cons:
- Inconsistent performance in volatile markets
- Requires careful configuration to avoid significant drawdowns
- Not a set-and-forget solution; needs active monitoring
EASY Trendopedia Pros:
- Robust trend-following strategy
- Higher profitability in trending markets
- Better risk management features
EASY Trendopedia Cons:
- May underperform in ranging markets
- Less flexibility in settings compared to AW BW strategy
Optimal Usage Conditions
The AW BW strategy based MT5 works best in markets where trends can be confirmed by multiple indicators. It is suitable for various instruments and timeframes, making it a versatile tool for traders. However, it requires active monitoring and careful configuration to align with current market conditions. The use of averaging can help recover from losing trades but also carries the risk of amplifying losses.Conclusion
In conclusion, the AW BW strategy based MT5 is a sophisticated trading robot that offers a comprehensive approach to trading using Bill Williams' indicators. While it has received positive feedback from users, it is not without its drawbacks. Compared to the EASY Trendopedia, it offers more flexibility but may not be as profitable or reliable in certain market conditions. Traders should consider their risk tolerance and trading style before choosing this robot.Source Code of AW BW strategy based MT5
We do not have access to the original source code of the AW BW strategy based MT5 sold on MQL5. However, we have created a sample code based on the description provided on the MQL5 website. This code is available for review and customization. If you have any questions about the code, feel free to ask on our forum.
Code:
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