Introduction
Ah, the Break of Structure and Change of Character trading robot. A high-rated ninja in the world of forex trading, loved by many, including our user rvdr who found it to be exceptionally good at learning market structures. You’ve got a rating of 5 stars on this one, so let’s see just how good it really is. We might even crack a smile. In this guide, we will walk you through the process of installing and configuring this robot to squeeze out every drop of its effectiveness. Plus, I’ll share my seasoned perspective, some tips for improvement, and a bit about the source code.
Installation and Setup
Boring but necessary. Here’s how to get this bot up and running:
- Download: First, head over to this link and grab the robot.
- Place in Directory: Put the downloaded file in the 'Experts' folder of your MetaTrader 5 directory. It’s usually found under `C:\Program Files\MetaTrader 5\MQL5\Experts`.
- Install: Open your MetaTrader 5 platform. Go to `Navigator`, right-click on `Expert Advisors`, and select `Refresh`.
- Attach to Chart: Drag the `Break of Structure and Change of Character` from `Navigator` onto your chart.
- Configuration: In the settings window, adjust the parameters like risk percentage, lot size, and other preferences.
- Enable AutoTrading: Click `AutoTrading` on the toolbar to allow the robot to start making trades.
It’s like setting up a new gadget. Fiddle around until the blinking lights make sense.
Experience Using the Robot
Here’s where skepticism meets reality. After spending a decent amount of time testing this bot, I’ve seen some promising results. The robot effectively identifies changes in market structures and alters its trading strategy accordingly. It’s not perfect—no bot is—but it gets the job done, most of the time.
In comparison to other robots I’ve used (and I’ve used plenty), this one does a fair job. It’s not the Holy Grail, but it ranks better than many others I’ve had the displeasure of running.
Tips for Improvement
Let’s make this bot better, shall we? Here are a few tips:
- Parameter Tweaks: Don’t just stick with the default parameters. Test different settings in a demo account to find what works best for your trading style.
- Limit Markets: Stick to a few specific markets. This bot doesn’t perform equally well across all.
- Regular Updates: Keep an eye on updates and apply them. Bugs are common, improvements less so, but any edge helps.
- Manual Intervention: Sometimes, you’ll need to step in. Turn off the bot during high-impact news events or volatile market conditions.
These tips aren’t going to make the bot infallible, but they could save you from some headaches.
Source Code for Break of Structure and Change of Character
Look, we don't have the original source code for Break of Structure and Change of Character. The creators protect it like it's the recipe for Coca-Cola. But worry not, we can whip up a similar code based on descriptions from the MQL5 website. If you’re curious or have questions about the code, head over to easytradingforum.com and shoot them our way. Just to be clear, we aren’t selling Break of Structure and Change of Character; we’ve merely created a robot code based on its description.
Code:
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For those who’ve had enough of manual trading, you can download Break of Structure and Change of Character trading robot from here.
There you have it. If you’ve got more curiosity to satisfy or questions to ask, you know where to find us. Happy trading—if that’s what you want to call it.