Double top bottom scanner with RSI filter

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Apr 15, 2024
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Introduction​

Alright, so you're diving into the world of forex trading and stumbled upon the Double Top Bottom Scanner with RSI Filter. This tool has garnered quite the buzz, with a 4.4 rating and varied user feedback. As a professional trader and MQL5 programmer from EASY Trading Team, I’ll guide you through installing, configuring, and utilizing this forex robot while sprinkling in some skepticism and a dash of sarcasm.

Installation and Setup​

So you’ve decided to give this robot a whirl. Great! Let's get this show on the road.

  • Download the Robot: First, head over to this link and download the Double Top Bottom Scanner with the RSI filter.
  • Install on MT4/MT5: Open your MetaTrader and navigate to 'File'. Select 'Open Data Folder', then go to 'MQL5' and 'Experts'. Drop the robot file into this folder.
  • Activate the Robot: Restart MetaTrader. Now, go to 'Navigator' and find the robot under 'Expert Advisors'. Drag it onto any chart.
  • Configure Settings: A settings window will pop up. This is where you’ll configure your desired parameters. Since we're all skeptical here, start with conservative settings. Adjust your RSI filters, notification preferences, and trading pairs.
  • Enable Algo Trading: Ensure ‘AutoTrading’ is enabled in MetaTrader. You should see a smiley face on the top right corner of the chart, indicating the robot is active.

Experience Using the Robot​

I’ve had my fair share of experiences with trading robots, and let’s face it, most of them are hit-or-miss. The Double Top Bottom Scanner with RSI Filter is no exception. While it’s hailed as ‘phenomenal’ by some users, I'll remind you to maintain realistic expectations.

Pros:
  • Identifies trading setups with decent accuracy.
  • Early notifications allow time for strategy adjustments.
  • Filters enhance signal quality.

Cons:
  • Not immune to market volatility.
  • The absence of mobile alerts can be a deal-breaker for some.
  • You should not expect it to replace human intuition and expertise completely.

Tips for Improving Performance​

Optimization is key for any trading tool. Here are some tips to squeeze the best out of this robot:

  • Backtest Extensively: Use historical data to test the robot’s performance across different market conditions.
  • Fine-Tune RSI Settings: Customize RSI levels based on your trading strategy.
  • Combine with Other Indicators: Don’t rely solely on this robot. Use additional indicators to confirm signals.
  • Stay Updated: Keep an eye out for software updates from the developer, as they often include performance improvements.
  • Manual Override: Use your discretion to override the robot when market conditions look unfavorable.

Source Code of Double Top Bottom Scanner with RSI Filter​

Now, let’s address the elephant in the room. We don’t have access to the original source code of the Double Top Bottom Scanner with RSI Filter sold on MQL5. However, we can create a code based on its description.

If you’re interested in a custom solution, visit easytradingforum.com. If you have any questions about the code, feel free to ask. This is an example, and remember, the EASY Trading Team does not sell the Double Top Bottom Scanner with RSI Filter. We've merely created a piece based on its description.

Code: 
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Download Double Top Bottom Scanner with RSI Filter for Effective Forex Trading​

Looking to get your hands on the Double Top Bottom Scanner with RSI Filter? Navigate to this link to download and start your journey.

In conclusion, while this tool is promising, always tread cautiously. No robot can guarantee success in the forex market. Happy trading, or as happy as it gets in this unpredictable world of forex!
 
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