Introduction
Meet your new trading assistant – PR Support And Resistance for MT4. This trading robot is designed to identify and leverage support and resistance levels, providing a systematic approach to trading. Ideal for traders looking to take their strategy to the next level, let's dive into how to install, configure, and maximize this tool's potential.Installation and Setup
Let’s keep it simple, shall we? Follow these steps to install and set up PR Support And Resistance for MT4:- Download the robot from this link.
- Open your MT4 platform and navigate to File > Open Data Folder.
- In the Explorer window, go to MQL4 > Experts.
- Drag and drop the robot's file into this folder.
- Restart MT4 and navigate to the Navigator panel.
- Find PR Support And Resistance under the Experts Advisors section.
- Drag it onto the chart you want to trade on.
- In the pop-up window, configure your settings. For maximum effectiveness, tailor the parameters to match your trading strategy.
Experience of Use
Let's be real, no indicator or robot is perfect. But the feedback is largely positive.575747 said:
syedaltafahmed said:
avansbu62 said:
johnwiz said:
kopeykin said:
I used the robot for several months and while it identified some great trading opportunities, it also had its fair share of false signals. Bottom line - always validate its signals with other tools.
Tips for Improvement
Even the best can get better. Here are some tips to tweak PR Support And Resistance for MT4 to your advantage:- Use in Conjunction with Other Indicators: Combine it with moving averages or oscillators for added confirmation.
- Adjust Sensitivity: Modify the sensitivity settings to filter out market noise.
- Regular Backtesting: Continuously backtest the robot under different market conditions to refine its parameters.
- Practice Risk Management: Never risk more than 2% of your trading capital on a single trade.
Source Code of PR Support And Resistance for MT4
We can't share the original source code of the robot sold on MQL5, but we can definitely code something similar based on its description. If you have any questions regarding the code, feel free to ask. This is an example code from easytradingforum.com based on the PR Support And Resistance for MT4 description. Remember, we do not sell the original robot; we've just created code inspired by its features.
Code:
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