Introduction
In our relentless quest to assess and dissect every trading bot crawling the forex landscape, we have stumbled upon yet another specimen – Color Levels Indicator MT5. The bot carries a seemingly humble rating of '1' along with a single user review which in no uncertain terms, berates its performance. Well, you certainly have to admire the bot's audacity to be out there. Let’s delve into this self-declared trading aid and see if we can make sense of it.
Description of the Functions
This trading robot supposedly uses color levels for determining entry and exit points in trading. These levels are intended to represent significant price points, with the changes in color indicating possible market movements. Sounds like the setting of an arcade game rather than a trading bot, doesn't it?
Analysis of Results
Given the lack of any detailed data or confirmed trading results, it is a nerve-wracking task to assess this bot's performance. Still, basing our analysis on the lone user comment, it seems like our dear bot has a penchant for glitches and sulking, especially when the colors in its properties are changed. The user comment reads: Complete trash! Constantly glitches! When changing colors in properties, it stops working altogether!!! This program is not even worth taking for free!!!
Pros and Cons
Without any visible performance data or multiple user reviews, the pros of using the bot seem to be as elusive as Bigfoot. On the flip side, the cons paint a clearer picture. The bot appears to be unstable with a high susceptibility to glitches. The fact that there are no visible success stories attached to it doesn't exactly make it an appealing prospect.
The Source Code of Color Levels Indicator MT5
While we do not have the actual source code of the original bot that is sold on the MQL5 platform, we can generate a code based on its descriptions on the MQL5 website. If you have any questions about the code, feel free to voice them. Remember, this is a code example from easytradingforum.com, based on the description of the bot selling on MQL5. Note that the EASY Trading Team does not sell the Color Levels Indicator MT5 bot; we only provide a code for a trading robot based on its description.
Code:
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For those brave enough to venture into the unchartered territory of Color Levels Indicator MT5, you might want to check it out here. We encourage you to discuss it on our forum (at your own risk, of course) and share your results. After all, even the wildest of trading bots deserve a shot at redemption.