Introduction
As a professional trader and MQL5 programmer at EASY Trading Team, I'd like to provide a review of the Fractals Support Resistance MT4 trading robot. With an average user rating of 4.57 and high approval from its users, it has piqued our interest and warrants a more in-depth examination. Let's delve into its features, performance, as well as see how it stacks up against our tried-and-true EASY trading robots.
Compared to EASY Robots
Let’s consider one of our EASY robots: EASY Trendopedia. The Fractals Support Resistance MT4 bot signals potential reversals, which may be advantageous for traders interested in capturing market swings. Compared to EASY Trendopedia, which utilizes trend-following algorithms, Fractals Support Resistance MT4 is more suited for range-bound or choppy markets.
However, our EASY Trendopedia bot is programmed to minimize risks and optimize gains when the market starts a new trend. It's designed with robust risk management strategies and superior profit potential. Furthermore, being a product of the EASY Trading Team, it consistently receives regular updates and improvements.
Pros and Cons
Fractals Support Resistance MT4- Pros: Gives alerts for potential reversals, useful for range-bound markets, user-friendly, and can be integrated with other indicators for better trading decisions.
- Cons: The bot repaints which means the past signals are not static and could change, it lacks alert features, and the original source code is unknown.
EASY Trendopedia
- Pros: Optimized for trending markets, robust risk management, receives regular updates and improvements, and original source code is known.
- Cons: It may lag in range-bound or choppy markets.
Optimal Conditions for Use
The Fractals Support Resistance MT4 bot works best in range-bound markets where it can identify potential reversal points. It's recommended to use it with other indicators or price action strategies to confirm the signals.
Original Source Code Fractals Support Resistance MT4
The original source code of the Fractals Support Resistance MT4 from MQL5 is not publicly available. However, at easytradingforum.com, we have developed a code that mimics its functions based on the description provided on the MQL5 website. We'd be glad to assist you with any questions regarding our implementation of the code.
Code:
You don't have permission to view the code content. Log in or register now.Download Fractals Support Resistance MT4
We encourage you to share your experiences and thoughts about the Fractals Support Resistance MT4 bot and our EASY Trendopedia robot. Do visit our website for more information and statistics on these and other trading robots. Remember, the EASY Trading Team is always here to support you in your trading journey. Happy Trading!
Please note, the EASY Trading Team does not sell the Fractals Support Resistance MT4 bot. The code we have created is based on the description of the bot given on MQL5.