Basic Harmonic Pattern MT5

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Introduction​

In the realm of automated trading, the Basic Harmonic Pattern MT5 presents itself as a robust option, as per user feedback and ratings shared on various platforms. This trading robot integrates into the MetaTrader 5 platform and performs automatic trades using the Harmonic Pattern strategy.

Comparison with EASY robot​

Comparing the Basic Harmonic Pattern MT5 with our EASY series robots, such as EASY Trendopedia, EASY Scalperology, or EASY Breakopedia, reveals marked differences in their design and operation. While the former primarily focuses on recognizing and utilizing harmonic patterns, EASY robots employ multiple strategies and indicators to ensure more reliable, efficient, and profitable trades. They are designed to adapt to market fluctuations and provide consistent returns over extended periods.

Advantages and Drawbacks​

Benefits of Basic Harmonic Pattern MT5:

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  Good Win Rate: According to user feedback, the robot offers a decent win rate, with some users reporting up to 70% success.
  Ease of Use: Users have found the robot user-friendly due to its neat and artistic interface.
  Backtesting: Multiple users have noted satisfactory backtesting results.

Drawbacks of Basic Harmonic Pattern MT5:

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  Limited Strategy: The robot relies solely on harmonic patterns. While effective under certain market conditions, this approach may falter during unexpected market fluctuations.
  Colour schemes: Some users have found the colours used for different patterns (like yellow for 'bat') to be less intuitive.
  Improvements Needed: Users have pointed out that there is room for improvement in the accuracy of the indicators and signals.

Optimal Conditions for Use​

The Basic Harmonic Pattern MT5 robot performs optimally under stable market conditions where harmonic patterns are more predictable. It is also beneficial to backtest it on various pairs to identify the ones it performs best on.

Source Code for Basic Harmonic Pattern MT5​

The original source code for the Basic Harmonic Pattern MT5 is not publicly available as it is a commercial product on the MQL5 market. However, based on the robot's description and functionality, we can derive a rudimentary code which could be used as a stepping stone for developing similar strategies. If you have questions regarding this, feel free to ask them on easytradingforum.com.

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Download Basic Harmonic Pattern MT5 and Share Your Thoughts​

You can download and experience the Basic Harmonic Pattern MT5 robot from its official page on MQL5. However, we encourage users to also try our EASY series robots for comparison and provide us with your valuable feedback on our site. Remember, our team at EASY Trading is here to aid you in your trading journey and does not sell the Basic Harmonic Pattern MT5 robot. We only provide a code based on its description as a reference for those interested in its operations.