Introduction
The world of Forex trading is an exciting, yet daunting one. With a myriad of trading robots available, it can be a challenge to find one that truly works. In this review, we turn our attention to the Biwavelet trading robot - a tool that has received mixed reviews from the trading community.
Description of Functions
Designed to effectively analyze the market and make accurate predictions, Biwavelet uses a unique algorithm based on wavelet theory. The theory is predicated on the notion that price formations in the foreign exchange market are wave-like, oscillating between high and low points. The robot constantly processes market data, identifying patterns and making predictions based on its built-in algorithm. Please note, the real code of Biwavelet is not known, we are basing this on the description provided by MQL5 where this algorithm is sold.
Analysis of Results
In terms of performance, it's hard to say, really. The Biwavelet robot doesn't exactly have a stellar track record. Over the past year, it appears that its performance has been less than impressive. Furthermore, the robot's rating hasn't been formed yet due to lack of reviews. This, combined with a user review stating the Biwavelet as a repaint and worthless product, leaves much to be desired.
However, a trading algorithm is only as good as the strategy that fuels it. Biwavelet might be a great tool in the right hands. For more detailed performance statistics, you can visit Biwavelet page.
Pros and Cons
On the upside, Biwavelet offers an automated solution to Forex trading - a major benefit for traders stretched for time. The algorithm, based on wavelet theory, is also relatively unique among trading robots.
On the downside, the lack of support and user guidance is a common criticism. Moreover, its purported repainting nature- changing its past signals - is a serious drawback for any trading indicator.
Source Code of Biwavelet
Note that we don’t know the true source code of the Biwavelet robot sold on MQL5, but can generate a code based on its description. If users have any questions regarding the code, feel free to ask. Just to reiterate, this is not the original Biwavelet robot, but a code developed by the EASY Trading Team based on its description.
Code:
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Despite the mixed reviews, Biwavelet does hold potential and merits a serious thought. Remember, we at EASY Trading Team are not selling the Biwavelet, but offering a code based on its description. You can download the Biwavelet trial from MQL5 to evaluate it firsthand.
And remember, a tool is only as effective as the person using it. Dive into discussions on our forum and share your trading results. Who knows, you might crack the code to making the most of Biwavelet.