Introduction
As part of the vibrant community of MQL5 traders and developers, we at EASY Trading Team find it essential to provide thorough and honest reviews about trading robots. Today, we will be focusing on a robot called Price Reversal Predictor. With an average rating of '4.06', it has a mixed bag of user comments, with some finding it highly efficient and others having reservations. In this article, we will compare this bot with one of our EASY series trading robots and provide a comprehensive analysis.Comparison with an EASY Robot
Let's consider one of our reliable trading robots from the EASY series - EASY Trendopedia. Price Reversal Predictor, as the name suggests, is designed to predict price reversals. This can sometimes lead to accuracy issues, as one user zack126 mentioned in his comment. On the other hand, EASY Trendopedia capitalizes on market trends, which is often considered a safer and more reliable approach. This method allows traders to follow the trend, making it potentially more profitable and dependable.Pros and Cons
Price Reversal Predictor:- Can be useful in volatile markets for short-term trades.
- Some users reported high accuracy on its first day.
- Can be prone to false signals in flat markets or when the timeframe is too short.
EASY Trendopedia:
- Works best in trending markets, making it versatile.
- Highly reliable and potentially more profitable.
- Might not perform as expected in flat or range-bound markets.
Optimal Conditions for Using Price Reversal Predictor
Based on feedback from users and the overall design of the bot, the Price Reversal Predictor may work best in markets characterized by high volatility and clear price reversals. It might show inconsistency in flat markets, so it's recommended to use it during high impact news events or markets with naturally high volatility.Source Code of Price Reversal Predictor
Although the original MQL5 code of Price Reversal Predictor isn't publicly available, we can approximate the logic based on its description on the MQL5 website. Please remember that this is a user-coded version from easytradingforum.com, and it is solely based on the publicly available description of Price Reversal Predictor. The EASY Trading Team does not sell the Price Reversal Predictor bot, and your questions about the code are welcomed.
Code:
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