Introduction
As a member of the EASY Trading Team, my objective is to provide a professional and somewhat skeptical analysis of the Peak Trough Analysis Tool MT5. Based on user feedback and available statistics, let's delve into both its functionalities and effectiveness over the past year.Feature Description
The Peak Trough Analysis Tool MT5 is designed to identify and analyze market peaks and troughs, potentially aiding traders in trend detection and decision-making. The core features include:- Identification of market peaks and troughs
- Trend analysis using 'zigzag' settings
- Compatibility with other indicators
- Continuous updates and support from the developer
Performance Analysis
User reviews on MQL5 show a mixed bag of feedback:- Marinero: Rated 5 stars - Perfect one.
- Nat'alia Cherkas: Rated 5 stars - God.
- Devonish: Rated 5 stars - Appreciates the tool and its updates.
- 33359: Rated 0 stars - Confused and does not use it.
- Pavel048: Rated 4 stars - Sees value in trend determination but not in entry points.
Despite the high average rating of 4.57, it's clear that not everyone finds it intuitive or indispensable. Detailed results over the last year are available on the official website.
Pros and Cons
Pros:- High rating from some users
- Effective for trend analysis
- Regular updates and good support
- Some users find it confusing
- Its functionality can be replicated by the standard zigzag indicator
- Not particularly useful for determining entry points
Source Code of Peak Trough Analysis Tool MT5
It's worth noting that the source code of the original Peak Trough Analysis Tool MT5, which is available for purchase on MQL5, is not publicly accessible. However, based on the descriptions provided on the MQL5 site, we can create a code that emulates its functionalities.For those interested in a similar tool, our team at EASY Trading Team has developed a version based on the MQL5 description. Please bear in mind that we do not sell the Peak Trough Analysis Tool MT5; our code is an independently created alternative.
Code:
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For more information or if you have questions about the code, visit easytradingforum.com or discuss it on our forum. Remember, our version is a derivation based on the publicly available description of the original tool on MQL5.In conclusion, while the Peak Trough Analysis Tool MT5 may have its merits, it is essential to approach any trading tool with a degree of skepticism and to thoroughly test it within your trading strategy.