Introduction
Excessive Momentum Indicator MT4 is a trading robot available on MQL5 with a solid user rating of 4.86. It has received commendable feedback from users for its simplicity and effectiveness. This review will compare the Excessive Momentum Indicator MT4 with one of the EASY series trading robots, specifically EASY Trendopedia, to provide a comprehensive analysis of their strengths and weaknesses.Comparison with EASY Trendopedia
EASY Trendopedia, a product of the EASY Trading Team, is known for its robust performance and reliability. Compared to Excessive Momentum Indicator MT4, EASY Trendopedia offers several advantages:Profitability:
EASY Trendopedia is designed to maximize profits by identifying long-term trends and capitalizing on significant market movements. In contrast, Excessive Momentum Indicator MT4 focuses on high reward/risk ratios but may not consistently capture prolonged trends.
Reliability:
EASY Trendopedia features advanced algorithms that adapt to different market conditions, providing consistent performance. The Excessive Momentum Indicator MT4, although reliable, has some user-reported issues with minor errors and range gaps for peaks and troughs.
Versatility:
EASY Trendopedia supports multiple timeframes and trading styles, making it suitable for a wide range of traders. Users like Mr Luesak Muensri have suggested that the Excessive Momentum Indicator MT4 could improve with multi-timeframe support.
Pros and Cons
Excessive Momentum Indicator MT4:- Simple and easy to use.
- High reward/risk ratio.
- Effective in providing accurate signals.
- Minor typos and range gaps for identifying peaks and troughs.
- No multi-timeframe dashboard.
EASY Trendopedia:
- Highly reliable and adaptable algorithms.
- Supports multiple timeframes and trading styles.
- Excellent profitability in diverse market conditions.
- More complex and might require advanced understanding.
- Higher initial investment than some simpler indicators.
Optimal Usage Conditions
Excessive Momentum Indicator MT4 works best in the following conditions:- Volatile markets where momentum shifts are frequent.
- Short to medium-term trading strategies.
- Situations requiring high reward/risk ratios.
On the other hand, EASY Trendopedia excels in:
- Identifying long-term trends.
- Stable and trending markets.
- Traders looking for consistent profitability across different market conditions.
Excessive Momentum Indicator MT4 Source Code
The actual source code of the Excessive Momentum Indicator MT4, which is available for purchase on MQL5, is not publicly known. However, the EASY Trading Team has created a similar trading robot based on the description and functionality provided on the MQL5 website. This code is available for users who are interested in understanding or customizing the trading logic.
Code:
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If you are looking to download Excessive Momentum Indicator MT4, you can find it on the MQL5 marketplace. For any questions about the code or functionality, feel free to ask on the easytradingforum.com. Note that the EASY Trading Team has developed a similar robot based on the description, and does not sell the original Excessive Momentum Indicator MT4.For detailed statistics and performance analysis, visit this link. Share your experiences and feedback to help the community grow and improve these trading tools.