Major Support and Resistance Indicator

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Apr 15, 2024
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Introduction​

Alright, let's cut to the chase. You're here because you want to know if the Major Support and Resistance Indicator trading robot is worth your time and money. Well, based on user vandersss glowing This is so nice. review and a perfect rating of 5, you'd think it's the holy grail of trading bots. But I've been around the block a few times, so let's dig deeper before jumping to conclusions.

Description of Functions​

The Major Support and Resistance Indicator is, as the name suggests, an algorithm that identifies key support and resistance levels in the market. These levels are critical for traders since they often represent zones where the price action may reverse or stall. The robot claims to:
  • Identify major support and resistance levels.
  • Provide real-time alerts for potential trade setups.
  • Automatically execute trades based on these levels.
  • Adjust based on market conditions to optimize performance.
Sounds impressive, right? But let's see how it performs in the real world.

Analysis of Results​

Over the past year, the robot has shown some intriguing results. The detailed statistics can be found at Forex Robot Easy. Here's a quick summary:
  • Average Monthly ROI: 3.5%
  • Max Drawdown: 15%
  • Win Rate: 65%
  • Number of Trades: 1200+
While a 3.5% average monthly ROI isn't going to make you an overnight millionaire, it's pretty respectable. The 15% drawdown, however, gives room for pause. A win rate of 65% over 1200+ trades isn't bad either, but remember, it's not just about winning; it's about how much you win vs. how much you lose.

Pros and Cons​

Pros:
  • Relatively consistent ROI
  • High win rate
  • Automated execution saves time

Cons:
  • 15% drawdown can be nerve-wracking
  • Performance may vary in volatile market conditions
  • Limited user reviews - “This is so nice” doesn’t cut it for serious evaluation.

Conclusion​

In conclusion, the Major Support and Resistance Indicator is not a bad piece of tech. It has delivered decent, consistent returns with an acceptable win rate. However, the drawdown is something to keep an eye on. For a serious trader, it’s a tool, not a complete solution. Test it out on a demo account and see if it fits your strategy. And for heaven's sake, don't just take vandersss word for it.

Source Code of Major Support and Resistance Indicator​

Unfortunately, the true source code for the Major Support and Resistance Indicator remains proprietary and is not available to the public. However, for those interested in understanding how such an algorithm might be constructed, you can refer to the descriptions available on the MQL5 marketplace. Our team at EASY Trading Team doesn’t sell this robot but we can provide a sample code based on its official description. If you have any questions about the code, feel free to ask on our forum.

Code: 
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Download Major Support and Resistance Indicator Trading Robot​

For those interested in getting their hands on the Major Support and Resistance Indicator, you can find out more details and download it at Forex Robot Easy. Remember, our team at EASY Trading Team does not sell this robot; we only offer an example based on its description.

Feel free to discuss your experiences, results, and any questions you have on our forum.
 
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