MTF Support and Resistance using ZigZag for MT5

[TopicStarter]

Introduction​

Welcome to the world of trading with MTF Support and Resistance using ZigZag for MT5. This robot has gained some attention, with users like strazzy giving it a glowing rating of 5. However, let’s face it: any automated system can have its quirks. In this guide, I’ll take you through the installation, configuration, and my own experiences with this robot, along with some tips to potentially enhance its effectiveness.

Installation and Setup​

To get started, follow these steps to install the robot:

1. Purchase and download the MTF Support and Resistance using ZigZag from the MQL5 marketplace.
2. Open your MT5 terminal.
3. Navigate to File > Open Data Folder.
4. Place the downloaded robot files in the MQL5 > Experts directory.
5. Restart your MT5 platform.
6. In the Navigator panel, find your robot, drag it onto a chart, and configure the settings according to your trading preferences.

Make sure to have the right timeframes set, as this robot uses multiple timeframes for its calculations. You wouldn't want to miss out on the fun, right?

Experience Using the Robot​

Using this robot has been a mixed bag of excitement and meh. It's designed to identify support and resistance levels based on the ZigZag indicator, which is a neat approach. However, instead of relying solely on the robot, I’ve noticed that manual adjustments can lead to better outcomes. Markets are unpredictable, after all.

The interface is user-friendly, and it's straightforward to modify parameters. Just don’t expect it to be a magic bullet. Trading remains a game of probabilities, not certainties.

Tips for Improvement​

While the robot does its job, here are some tips that might help enhance your trading experience:

• • Test different settings based on market conditions. The default parameters might not always be the best.
    • Consider using the robot in conjunction with other indicators for confirmation. After all, redundancy is key!
      • Keep an eye on fundamental news events; the robot can’t predict everything.
        • Regularly review your trading results and refine your strategy accordingly.
      Remember, even the best robots need a guiding hand.
      
      

      Source Code of MTF Support and Resistance using ZigZag for MT5​

      Let’s talk about the source code. Here’s the kicker: we don’t have access to the original source code of the robot sold on MQL5. However, we can create a code example based on the robot's description found on the MQL5 website. Our team at EASY Trading Team does not sell the MTF Support and Resistance using ZigZag for MT5 robot; we simply constructed a code version inspired by its description. So, if you have questions about the code, feel free to ask.
      
      

      You don't have permission to view the code content. Log in or register now.

      
      

      Download MTF Support and Resistance using ZigZag for MT5 Now!​

      For those intrigued, you can learn more and download the MTF Support and Resistance using ZigZag for MT5 by visiting this link. Dive into the world of trading automation—but remember, it’s not a guaranteed win. Happy trading!