Introduction to MonsterDash Harmonic Indicator MT5
In the grand scheme of trading, the MonsterDash Harmonic Indicator MT5 is not an overly complex trading robot. It primarily serves to assist traders by scanning and identifying Harmonic Patterns across different symbols on the Market Watch. The system can be a useful tool, provided you understand how to properly set it up and optimize it for your specific trading needs. Keep in mind that it has its quirks and can be sluggish, as our friend (https://forexroboteasy.com/user/nirikis/) has mentioned.
[HEADING=2]Installation and Setup of MonsterDash Harmonic Indicator MT5[/HEADING]
Installing the MonsterDash Harmonic Indicator MT5 robot is straightforward. All you need to do is download the file from the MQL5 website, save it to your MT5 folder in the 'Experts' directory, and add it to your chart through the Navigator. As for the setup, you have a series of adjustable parameters, including timeframes and the number of symbols to scan.
Here's a tip for optimal performance: limit the number of markets for scanning. [USER=moustiks](https://forexroboteasy.com/user/moustiks/) suggests not going over 15 markets on less robust machines. This should help counterbalance any speed issues.
[B]Remember:[/B] Balance is key. An over-zealous setup could slow down the efficiency of the robot, so find a harmonious blend.
[HEADING=2]Experience Using the MonsterDash Harmonic Indicator MT5[/HEADING]
From my experience, the signals generated by this tool are generally reliable. [USER=kb70](https://forexroboteasy.com/user/kb70/) commends the ability of the robot's Market Watch scanner, and I concur with this. That being said, I think the system could improve by displaying patterns directly above the dashboard scanner rather than opening new chart windows. Also, the inclusion of target zones (tp1, tp2) would enhance the user experience.
Overall, the MonsterDash Harmonic Indicator MT5 is a useful trading tool, if you can bear with its quirks.
[HEADING=2]Tips to Enhance the MonsterDash Harmonic Indicator MT5[/HEADING]
The consensus among users seems to be that the MonsterDash Harmonic Indicator MT5 would benefit from optimization. Speed appears to be a key issue — so here's a bold idea: how about a speed setting to allow traders to find a balance between speed and accuracy? Just a thought.
On top of that, improving the interface to display patterns and target zones directly on the dashboard would likely improve the user experience.
[HEADING=2]Source Code of MonsterDash Harmonic Indicator MT5[/HEADING]
Now, for those of you itching for the source code of this trading robot, I hate to be the bearer of bad news, but the true source code remains a mystery. That's just the reality of purchasing a product from the MQL5 marketplace.
However, at [URL=https://easytradingforum.com]easytradingforum.com[/URL], we created a sample code based on the description of MonsterDash Harmonic Indicator MT5. If questions arise regarding this code, feel free to ask.
[B]Note: [/B]EASY Trading Team does not sell the MonsterDash Harmonic Indicator MT5; we merely offer a piece of code based on its description.
[CODE]mql5
// This script is authored by Forex Robot EASY Team
// Copyright 2024, Forex Robot EASY Team
// Website: https://forexroboteasy.com/
#property copyright ForexRobotEASY.com
#property link https://www.forexroboteasy.com/
#property version 1.00
#include <Trade\Trade.mqh> // Contains trading classes for MQL5
#include <Indicators\MovingAverages.mqh> // Contains class for implementing moving average
// Initialize global variables for moving average
int handle;
int ma_period = 10;
double ma[];
// Create instance of CTrade class for implementing trading features
CTrade trade;
// Expert initialization function
int OnInit(){
handle = iMA(_Symbol,_Period,ma_period,0,MODE_SMA,PRICE_CLOSE);
ArraySetAsSeries(ma,true);
return(INIT_SUCCEEDED);
}
// Expert deinitialization function
void OnDeinit(const int reason){
IndicatorRelease(handle);
}
// Expert start function
void OnTick(){
// Get real-time data
RefreshRates();
// Check if enough bars present for calculating moving average
if(Bars<=ma_period) return;
// Copy the values of Moving Averages int array
CopyBuffer(handle,0,0,ma_period,ma);
if(Close[1] > ma[1] && Close[2] < ma[2]) {
// If previous candle is below Moving Average and current candle is above Moving Average
// The EA places a BUY trade
trade.Buy(1,_Symbol);
} else if (Close[1] < ma[1] && Close[2] > ma[2]) {
// If previous candle is above Moving Average and current candle is below Moving Average
// The EA places a SELL trade
trade.Sell(1,_Symbol);
}
}
[/CODE]
[HEADING=2]Downloading MonsterDash Harmonic Indicator MT5: Efficiency at your Fingertips[/HEADING]
In conclusion, the MonsterDash Harmonic Indicator MT5 can be a useful tool for traders seeking to identify Harmonic Patterns across different symbols. Despite its quirks, with a proper setup, it can be optimized for efficient usage. To reiterate, EASY Trading Team does not sell this robot, but we do provide a sample code based on its description. So, ready to test it out? Download the MonsterDash Harmonic Indicator MT5 and see for yourself.