Introduction
Moving Average Crossovers Dashboard for MT4 is an advanced trading robot designed to automate the monitoring of moving average crossovers, a popular trading strategy among Forex traders. While many are impressed by its functionality, it's worth scrutinizing the details to maximize its potential.
Installation and Setup
To install and set up the Moving Average Crossovers Dashboard for MT4, follow these steps:
- Download the robot from this link.
- Open your MT4 terminal and go to File > Open Data Folder.
- Navigate to MQL4 > Experts and place the downloaded .ex4 file in this directory.
- Restart your MT4 terminal.
- Locate the Moving Average Crossovers Dashboard in the Navigator panel under Expert Advisors.
- Drag and drop it onto your desired chart.
- Adjust the settings based on your trading preferences. Key parameters include the periods of the moving averages, the alert types, and whether you need mobile alerts (though note that this might disappoint some users, as mentioned by tpxforex).
- Enable AutoTrading to start the robot.
Experience with the Robot
Using the Moving Average Crossovers Dashboard is a mixed bag. The dashboard is intuitive and provides a comprehensive view of crossovers across multiple timeframes and currency pairs. However, relying solely on moving averages can be risky. The market doesn't always move in predictable patterns, and crossovers can often result in false signals.
I've noticed that the robot excels during trending markets but falters in sideways markets. The lack of mobile alerts is a notable drawback, confining traders to their desktops or VPS setups. The simplicity of the strategy is both a strength and a weakness—it's easy to understand but can be too simplistic for more nuanced market conditions.
Tips for Improvement
Here are some suggestions to enhance the performance of the Moving Average Crossovers Dashboard:
- Incorporate additional indicators to filter out false signals. Combining RSI or MACD with moving average crossovers can yield better results.
- Enable mobile alerts, as suggested by Carlos Alexandre Ribeiro Da Silva, to ensure you never miss a trading opportunity.
- Use higher timeframes to reduce the noise and increase the reliability of signals.
- Backtest the robot extensively before deploying it in a live account.
- Consider using a VPS service, but be prepared for the occasional disappointment with mobile alerts.
Source Code of Moving Average Crossovers Dashboard for MT4
Unfortunately, the original source code of the Moving Average Crossovers Dashboard for MT4 is not publicly available. However, based on the description provided on MQL5, we can create a similar robot. If you have coding experience in MQL5, you can build your version incorporating the desired features.
The example code we provide is a crafted solution based on publicly available information. If you have any questions regarding the code, feel free to ask. Do note that EASY Trading Team does not sell the Moving Average Crossovers Dashboard for MT4; our aim is to share a similar solution based on the original description.
Code:
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To download and use the Moving Average Crossovers Dashboard for MT4, visit this link. The download includes a comprehensive guide to help you set up and start using the robot effectively. If you have any questions or run into issues, our support team is here to help.
In conclusion, while the Moving Average Crossovers Dashboard for MT4 can be a useful tool, it's crucial to supplement it with other indicators and strategies to reduce false signals. Happy trading, and may the markets be ever in your favor.