Introduction
Welcome to the guide on using the trading robot Owl Smart Levels MT5. Let's be honest, every trading strategy has its flaws, and Owl Smart Levels MT5 is no exception. While user reviews may be glowing, we, in the EASY Trading Team, always maintain a healthy dose of skepticism. Let's dive into how to install, configure, and hopefully optimize this bot for your trading activities.
Installation and Configuration
Installing the Owl Smart Levels MT5 is straightforward. Here's a no-frills guide to get you started:
1. **Download the EA:**
Visit the official website and download the Owl Smart Levels MT5.
2. **Install into MT5:**
- Open MetaTrader 5.
- Go to `File` -> `Open Data Folder`.
- Navigate to `MQL5` -> `Experts`.
- Copy the downloaded `.ex5` file into this folder.
3. **Attach to a Chart:**
- Restart MetaTrader 5.
- Open the `Navigator` panel.
- Find Owl Smart Levels MT5 under `Experts`.
- Drag and drop it onto your preferred chart.
4. **Configuration:**
- In the settings window, adjust parameters such as lot size, risk management settings, and trading hours.
- Enable `Algo Trading` by clicking on the button in the toolbar.
User Experience
My experience with Owl Smart Levels MT5 can be summed up as good, but not without reservations. It employs a triple screen trading principle, which supposedly offers very good trading opportunities. In practice, it can be hit or miss. So, consider this your cautious thumbs-up.
Tips for Improvement
Let's face it, no EA is perfect. Here are some tips to squeeze the most out of this one:
1. **Risk Management:**
- Do not rely solely on the default settings for risk management. Adjust the lot size to match your risk tolerance.
2. **Backtesting:**
- Always backtest the EA on historical data. It may look very very good in backtesting (as thetraderalex says), but the real market can be a different beast.
3. **Additional Filters:**
- Consider adding manual filters such as news events or fundamental analysis to avoid unexpected market volatility.
Source Code of Owl Smart Levels MT5
Here's the kicker: we do not have access to the actual source code of the Owl Smart Levels MT5. What we do have is a conceptual understanding based on its description on MQL5. If you have questions about creating a tailored version, feel free to ask. We at EASY Trading Team specialize in creating custom EAs based on publicly available information.
Code:
You don't have permission to view the code content. Log in or register now.Download the Owl Smart Levels MT5 Trading Robot Here
If you’re ready to give Owl Smart Levels MT5 a whirl, you can find it on Forex Robot Easy.
Got questions about the code? Reach out to us. Remember, this isn't the original Owl Smart Levels MT5 from MQL5, but a code based on its description. The EASY Trading Team doesn’t sell the Owl Smart Levels MT5 robot; we just created this version to help traders like you.
So there you have it. Dive in, test it out, and remember: always trade with caution.