Introduction to Better Support Resistance: Unleashing the Potential of the Trading Robot
As an experienced MQL5 programmer and trading strategist, I've seen my fair share of automation setups in the Forex market. So, when I say, the Better Support Resistance is a trading robot that has intrigued me, know that it comes from a place of calculated objectivity. With a rating of 4.4 and mixed reviews from users, this tool deserves a closer inspection.
Installation and Configuration of Better Support Resistance
The installation process for the Better Support Resistance robot is as straightforward as they come. Here’s how you go about it:
- Start by downloading the robot from the MQL5 website.
- Move the file to your MetaTrader's MT5 platform directory.
- Launch your MT5 and find the tool in the 'Navigator' panel.
- Drag and drop it onto the chart for the currency pair you intend to use it for.
The configuration, as expected, entails a bit more thought. While Ahmet Aktas (olric2000) pointed out the lack of auto-refresh, the settings allow manual adjustments of the timeframes and a plethora of other options. Your need for constant refreshing might be less than you think.
My Experience Using Better Support Resistance
Breathtaking! Mind-blowing! - no, don't expect such exclamations from me. The Better Support Resistance robot is decent - it gives you support and resistance lines, nothing more, nothing less. But yes, I can't deny the fact that many users, including cvdestyfx, consider it the best Support and Resistance indicator they've used.
Its effectiveness with the harmonic pattern indicator, as mentioned by darktideac2, or MonsterDash, as reported by sunshinetrade, can indeed, prove beneficial. But, as always, approach new strategies with caution.
Tips for Optimization
Like any trading tool, the Better Support Resistance robot's performance can largely be influenced by the correct settings. To that end, use multiple timeframes to confirm your entries and exits and optimize the settings based on your trading strategy. Don't shy away from experimenting and always test your settings in a demo account before going live.
The Source Code of Better Support Resistance
As we all know, the actual source code of the original Better Support Resistance trading robot sold on MQL5 is not publicly accessible. But, fear not, we at the EASY Trading Team have made an effort to create a code based on the description provided on MQL5.
For those interested, you can find this code at easytradingforum.com. Keep in mind this is a mere representation, not the original.
Code:
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If you have questions about the source code or any part of the Better Support Resistance robot usage, feel free to ask on our forum. Remember, we don't sell the Better Support Resistance robot. Our aim is to provide useful resources for traders to make their trading journey a bit easier.
So, are you ready to add a new tool to your trading arsenal? Visit forexroboteasy.com, download the Better Support Resistance robot, and give it a whirl! Let us know how it fares in your trading strategy.