FRB Support and Resistance

[TopicStarter]

Introduction​

Ah, the FRB Support and Resistance robot. Another shiny tool in the ever-growing arsenal of forex trading gadgets. Developed by Fernando Baratieri, this robot promises to place support and resistance lines on your chart, allowing you to customize timeframes and colors. It sounds great on paper, but let's dig deeper and see if it lives up to the hype.

Description of Features​

The FRB Support and Resistance robot comes with a few notable features:

• Customizable timeframes for calculating support and resistance levels.
• Ability to change the colors of the lines to suit your visual preferences.
• An algorithm that dynamically adjusts support and resistance levels based on historical price data.
• Multi-timeframe analysis to display levels from different timeframes on a single chart.
• Customizable alerts for when the price approaches or breaks through support or resistance levels.

All these features sound promising, but let's not get carried away just yet.

Analysis of Results​

Based on user feedback, the FRB Support and Resistance robot has received a perfect rating of 5.0. Users like Makarios Yacoubian and Benkele Goitsemodimo have praised its accuracy and usefulness. However, it's essential to approach these reviews with a grain of salt. A perfect rating is rare, and while the robot may be effective, it's crucial to test it thoroughly in various market conditions.

Pros and Cons​

Pros:

• Customizable settings allow for a personalized trading experience.
• Dynamic adjustment of support and resistance levels keeps the analysis relevant.
• Positive user feedback suggests reliability.

Cons:

• The free nature of the tool might mean less frequent updates and support.
• No advanced features like automatic trendline adjustments or multi-parameter calculations.
• Relying solely on this indicator without other tools could be risky.

Conclusion​

The FRB Support and Resistance robot is a valuable tool for traders looking to enhance their technical analysis. Its customizable features and dynamic adjustments make it a worthwhile addition to any trader's toolkit. However, it's essential to use it in conjunction with other indicators and strategies for the best results.

Source Code of FRB Support and Resistance​

We don't have access to the original source code of the FRB Support and Resistance robot sold on MQL5. However, based on its description, we have created a sample code that mimics its functionality. This code is available on our website. Remember, this is just an example and not the actual code sold on MQL5.

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Download FRB Support and Resistance Robot​

If you have any questions about the code or want to discuss the FRB Support and Resistance robot, feel free to ask on our forum. This example code is provided by easytradingforum.com, based on the description of the robot sold on MQL5. Please note that the EASY Trading Team does not sell the FRB Support and Resistance robot; we only created this code based on its description.