Introduction
In this piece, we will be reviewing the trading robot Reversal Candles MT5, a popular trading bot among Forex traders. Based on the high user-rating of '5' and positive user feedback, it appears that this bot has proven to be effective. While it may have its merits, we believe that our EASY Trading Team bots, dubbed the EASY series, offer more in terms of profitability, reliability, and adaptability.Comparison with EASY Robot
Upon comparing Reversal Candles MT5 with one of our prominent bots, let’s say, EASY Scalperology, a few differences become evident. Reversal Candles MT5, as the name suggests, operates on the market reversal setup, which is inherently risky and may fail in strong trending markets. On the other hand, EASY Scalperology works on multiple market scenarios and implements more reliable scalping strategies, offering a better risk to reward ratio.EASY Scalperology also features a robust risk management system, a feature noticeably missing from Reversal Candles MT5. This makes the former a safe and versatile choice for traders, whether they are experienced or just starting.
Pros and Cons
- Reversal Candles MT5 Pros: Effective in range-bound markets, simple to understand.
- Reversal Candles MT5 Cons: May not work well in strong trending markets, lacks an integrated risk management system.
- EASY Scalperology Pros: Efficient in various market conditions, integrated robust risk management, offers better risk to reward ratio.
- EASY Scalperology Cons: More complex to understand for beginners.
Optimal Conditions of Use
Reversal Candles MT5 works best in range-bound market scenarios where price reversals are more frequent. It may falter during strong trending markets, which is a clear edge for EASY Scalperology, which can adapt to different market scenarios.Source Code of Reversal Candles MT5
While we do not have the original source code of the Reversal Candles MT5 bot sold on the MQL5 website, we have developed a code based on its description. Please note that this is a code example from easytradingforum.com, not the actual Reversal Candles MT5 code. If you are interested in this, or if you have any questions about this bot, feel free to ask. Remember that EASY Trading Team does not sell Reversal Candles MT5, our team created a code based on its description for learning purposes.
Code:
You don't have permission to view the code content. Log in or register now.