Introduction
Welcome to the comprehensive guide on using the trading robot Range Bars Charting. If you’ve ever pondered whether this innovative approach to trading can elevate your strategy, you're in the right place. With diverse user reviews, ranging from glowing praise to stark criticism, let's delve into how to get the most out of this tool.Installation and Setup
Installing and configuring Range Bars Charting requires a few steps. Below is a precise walkthrough to ensure you’re all set:
- Step 1: Acquire the Robot
Visit Forex Robot Easy to get your hands on the Range Bars Charting robot.
- Step 2: Download Necessary Files
You'll need additional files for indicators to work. These can be found at the author’s GitHub page: Nine6 GitHub.
- Step 3: Install Indicators
Extract and place the downloaded indicators in the 'Indicators' folder of your MT5 directory.
- Step 4: Configure Settings
Open the indicators within MT5 and adjust the settings according to your trading plan. This might include setting the range bars based on different parameters such as pips, ticks, points, ATR, or percentage.
Experience Using the Robot
Navigating through the mixed bag of user experiences, here’s a summary of what you can expect:
Manual Trading: As some users indicated, the robot is decent for manual trading due to its visual representation. However, the reliability of broker data could be an issue.
Automated Trading: Users like Frederico and FXIA have flagged the robot as problematic for automated trading because the range bars generated are not directly tradable based on robot strategy requirements.
Tips for Improvement
Let’s face it, Range Bars Charting isn't perfect. Here are some ways to enhance its functionality:
- Regular Updates: Keep an eye on updates from the author. This might address some of the existing bugs and usability issues.
- Custom Indicators: If the provided indicators don’t meet your needs, consider developing custom indicators.
- Combine Tools: Use other trading tools or platforms like Multicharts for a more robust experience, especially for back testing.
- Regular Monitoring: Due to the reliance on real-time broker data, it’s crucial to monitor the charts consistently.
Source Code for Range Bars Charting
We don't have access to the original source code of the commercial Range Bars Charting robot on MQL5. However, based on the description, we can develop a similar code. Here is an example script:
Feel free to reach out with any questions or issues regarding this example code, and our team will assist you.
Code:
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For those looking to optimize their trading experience, downloading the Range Bars Charting robot could be a game-changer. Visit Forex Robot Easy - Range Bars Charting to get your copy today. Make sure to thoroughly test and monitor its performance to align with your trading strategy.
Remember, trading robots are tools, not magic wands. Use them wisely and stay skeptical—it's always better to question than to blindly follow.