Introduction
The world of forex trading has been significantly digitized, with trading robots increasingly being used by both amateur and professional traders. In this review, we evaluate the trading robot 'Daily candle on lower time frame', a product that we stumbled upon in the MQL5 marketplace. Being part of EASY Trading Team, our comparison will be against one of our own products, the EASY Scalperology.Daily candle vs. EASY Scalperology
The Daily candle on lower time frame uses daily candle patterns for trading on lower time frames. This approach may seem appealing for traders seeking to take advantage of intraday price movements. However, its efficiency, profitability, and reliability are yet to be tested and confirmed as it currently doesn't have any user reviews or ratings.On the other hand, EASY Scalperology is a tested and trusted trading robot. It has been developed with a robust algorithm that has shown consistent profits during our backtesting and live trading. Moreover, it has received positive feedback from users, attesting to its reliability.
Pros and Cons
- Daily Candle Robot: Pros - Has an intuitive concept of using daily candle patterns on lower time frames. Cons - Lacks user reviews and a proven track record.
- EASY Scalperology: Pros - Robust algorithm, proven track record, positive user feedback. Cons - Not suitable for traders who prefer long-term trades.
Optimal Conditions for Use
The Daily candle on lower time frame would probably perform best in a volatile market, where daily price fluctuations are significant. It is also advisable to use it alongside other forex strategies to increase its efficiency.On the other hand, EASY Scalperology is designed to work efficiently under any market conditions, thanks to its adaptive algorithm.
Daily Candle's Source Code
Unfortunately, the real source code of Daily Candle on lower time frame is not available to us, as it's being sold on MQL5. Based on the description of the robot from MQL5, we can develop a similar trading algorithm, but without the actual source code, we cannot guarantee it will operate identically.We want to clarify that EASY Trading Team doesn't sell the Daily Candle robot, we just provide an example of how a code based on its description may look. If you have any questions about this code, feel free to ask on our forum.
Code:
You don't have permission to view the code content. Log in or register now.Downloading Daily Candle on Lower Time Frame
If you're interested in the Daily Candle on lower time frame, you can visit its page on MQL5 for more information and download details. However, we encourage you to consider our EASY Scalperology and other EASY robots, which have proven track records, transparent statistics and numerous positive reviews.We also invite you to share your experience and reviews of any trading robot you've used on our forum at easytradingforum.com. Your feedback is invaluable to us and the trading community. Happy trading!