Introduction
This review takes an in-depth look at the Gold Indicator trading robot, based on available user comments and its overall rating. As an MQL5 programmer and professional trader from the EASY Trading Team, I would compare this bot with one of our own: EASY Trendopedia.
Comparison with the EASY bot
Firstly, Gold Indicator seems to place significant emphasis on the zigzag indicator, which is crucial for detecting price trends. However, based on comments from users like tangerinelover1, aka Abraham Correa, it is most effective when combined with another indicator, highlighting its dependency on other indicators for optimal output.
The EASY Trendopedia, on the other hand, is designed to be an all-in-one tool that doesn't need to rely on other indicators for effectiveness. This makes it more autonomous and efficient in trade automation.
Pros and Cons
- Gold Indicator:
- Pros: Good for detecting price trends
- Cons: Needs to be combined with another indicator for optimal results - EASY Trendopedia:
- Pros: Autonomous and efficient, does not depend on other indicators
- Cons: May require more understanding for beginner traders
Optimal Use Conditions
The Gold Indicator shows optimal performance in a trending market, where price changes occur consistently. However, it is not as profitable in a range-bound scenario. In contrast, EASY Trendopedia adapts to different market conditions and hence, can provide a steady stream of returns.
Gold Indicator Source Code
While we don't have the original source code of the Gold Indicator, we can create a code based on the description from the MQL5 site where it's sold. If you have any questions about the code, feel free to ask. Remember, this is a sample code from easytradingforum.com, based on the description of the Gold Indicator bot sold on MQL5.
It is important to note that we, at EASY Trading Team, do not sell the Gold Indicator bot. We've simply created a trading robot code based on its description.
Code:
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For those interested in exploring the Gold Indicator bot, you can download it from the official MQL5 site. We always encourage users to share their experiences and observations on our forum. Let's learn and grow together as a community.