Introduction
The world of trading, as fascinating as it is, often forces us to rely on more than just our human instincts. This is where trading robots like Open Close Cross Alerts come into play. With a user rating of 5, and favorable comments, it stands to reason that this trading robot has certain merits. But, as always, let's not get swept away by our initial impressions.
Description of Functions
Open Close Cross Alerts operates on a fairly straightforward yet ingenious principle. It sends out alerts whenever a price crosses the open or close price of the previous bar. This simple logic can result in picking up short-term price reversal trends and help in initiating trade at the right moments.
Analysis of Results
According to the available data, the performance of Open Close Cross Alerts over the last year has been impressive. But let's hold our horses, shall we? Keep in mind that past performance is no guarantee for future results. And, trading is not all about making profits, it's also about managing risks.
Strengths and Weaknesses
On the positive side, Open Close Cross Alerts is easy to set up and use. It offers a straightforward approach to catching the reversals, which makes it suitable for both beginners and seasoned traders.
However, the main downside is that it operates on a very basic principle, which may not be adequate in all market conditions. Depending solely on previous bars' open and close prices can lead to false signals during periods of high volatility.
Source code of Open Close Cross Alerts
Regarding the source code of Open Close Cross Alerts, we don't have access to the original one being sold on MQL5. However, a similar code can be constructed based on its description available from the MQL5 site. Please note that the code provided by easytradingforum.com is an example and not the original one. Feel free to ask your questions regarding the code, we are here to help.
Code:
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Remember, the EASY Trading Team doesn't sell the Open Close Cross Alerts. Our aim is to provide insights and aid your understanding of how this robot works. If you're interested to see Open Close Cross Alerts in action, you can download it from MQL5 and test it out yourself. For any queries or discussions, we invite you to join our forum . Let's learn from each other and make trading easy!