Introduction
Alright folks, today we’re going to deep dive into the Darvas Flow Indicator, a trading robot that has managed to garner a bit of attention. With a couple of rave reviews and a perfect rating on MQL5, let’s see if this robot really deserves the applause.
Functionality Overview
The Darvas Flow Indicator primarily aims to identify potential entry points in the market, based on the Darvas Box theory. Here are the primary functions of this trading robot:
- Identifies potential entry points
- Generates trading signals
- Customizable settings for various trading preferences
- Alerts when an entry price emerges
Not exactly reinventing the wheel, but let’s give it a fair shake.
Performance Analysis
Evaluating the effectiveness of the Darvas Flow Indicator over the past year, we’ve found that the robot has shown consistent yet unremarkable results. It’s delivering on its promise of providing usable entry points, but don’t expect it to turn pennies into gold overnight.
The last year’s performance stats indicate moderate gains with a few notable drawdowns. Risk management seems decent, but not outstanding.
Strengths and Weaknesses
Strengths:
- Simple and easy to use, making it accessible for beginners.
- Decent accuracy in identifying entry points.
- Customizable settings allow for personalized trading strategies.
Weaknesses:
- Lacks advanced features for seasoned traders.
- The performance is average at best; not a game-changer.
- Alerts for entry points are a bit of an afterthought.
Conclusion
To sum it up, the Darvas Flow Indicator is a straightforward tool with some utility for entry-level traders. It won’t set the trading world on fire, but it’s competent at what it does. For those looking for a basic indicator, this could be worth a try.
Feel free to discuss this robot on our forum and share your results. The more data we gather, the better we can gauge its true effectiveness.
Source Code for Darvas Flow Indicator
We don’t have access to the original source code of the Darvas Flow Indicator available on MQL5. However, we can create a similar code based on the description from the MQL5 marketplace.
If you have questions about the code, feel free to ask. Remember, this example code from easytradingforum.com is created based on the algorithm described on MQL5. Our team, EASY Trading Team, doesn’t sell the Darvas Flow Indicator; we only developed a code inspired by its description.
Code:
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Considering downloading the Darvas Flow Indicator? Be sure to visit our forum for discussions and user feedback.