Introduction
The On Balance Volume Trendline robot has garnered mixed reviews from users. While some highlight its potential and functionality, others have faced installation issues. Let's delve deeper into its features, compare it with an EASY robot, and understand its optimal conditions for use.Comparison with EASY Robot
Among the series of EASY robots, we will compare the On Balance Volume Trendline with EASY Trendopedia.EASY Trendopedia vs. On Balance Volume Trendline:
- EASY Trendopedia focuses on detecting and trading based on trend patterns, providing a clear entry and exit strategy.
- On Balance Volume Trendline emphasizes volume-based trendlines with MTF (Multi-Time Frame) functionality, which can be useful for confirming trends.
Profitability:
- EASY Trendopedia has been widely tested and reviewed, showing consistent profitability across different market conditions.
- On Balance Volume Trendline has potential, but user reviews suggest that it's still facing technical issues.
Reliability:
- EASY Trendopedia boasts a stable performance and robust customer support.
- On Balance Volume Trendline has received complaints regarding installation, suggesting a need for further refinement.
Pros and Cons
On Balance Volume Trendline:- Pros:
- Importance of OBV, showing what smart money is doing.
- Trendlines with alert in a subwindow.
- MTF function for higher and lower timeframes. - Cons:
- Installation issues reported by users.
- Limited user feedback on long-term profitability.
EASY Trendopedia:
- Pros:
- Proven trend detection and trading strategies.
- Consistent performance across different markets.
- Strong customer support. - Cons:
- May not offer the same volume-based trendline functionality as On Balance Volume Trendline.
Optimal Usage Conditions
On Balance Volume Trendline works best in situations where market volume plays a crucial role in trend determination. It is particularly effective in:- High and low timeframe analysis, offering insights from M5 to H1.
- Markets where volume data is a strong indicator of future price movements.
Conclusion
While the On Balance Volume Trendline has promising features, including the MTF functionality and OBV-based insights, it falls short in reliability and ease of installation. In comparison, EASY Trendopedia offers a more consistent and proven approach to trend trading. Users are encouraged to share their experiences and feedback on forums to help improve these tools further.Source Code of On Balance Volume Trendline
We do not have access to the original source code of On Balance Volume Trendline sold on MQL5. However, we can create a similar code based on the description provided on the MQL5 marketplace. If you have any questions about the code, feel free to ask on easytradingforum.com. Note that the EASY Trading Team does not sell the On Balance Volume Trendline robot but only provides a code based on its description.
Code:
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