Introduction
The Reward Multiplier MT4 trading robot is designed for traders who enjoy the concept of pyramiding in their trading strategies. While the idea sounds appealing, the implementation may leave much to be desired. This guide will help you install and configure the robot for optimal performance while also sharing my experiences and tips to improve its functionality.Installation and Configuration
To get started with the Reward Multiplier MT4 robot, follow these steps:1. **Download the EA**: Purchase or download the Reward Multiplier EA from the official source.
2. **Install the EA**: Copy the EA file to the [MQL4/Experts] folder within your MetaTrader 4 directory. You can access this directory directly from the MT4 platform by navigating to 'File' → 'Open Data Folder' → 'MQL4' → 'Experts'.
3. **Restart MT4**: Close and reopen the MetaTrader 4 platform to ensure the EA is loaded correctly.
4. **Attach the EA to a Chart**: Open the desired currency pair's chart, right-click, and select 'Expert Advisors' → 'Attach to a chart'.
5. **Configure Settings**: Adjust the default settings as needed. However, note that many users have found the default configurations less than ideal.
Experience Using the Robot
My experience with the Reward Multiplier robot has been a mixed bag. While the concept of automated pyramid trading is intriguing, the execution often falls short. Here are some points worth considering:- **Initial Success**: Similar to James Jr Timpson's experience, I found that the robot handled a couple of trades well initially. However, this performance did not remain consistent.
- **Lag and Responsiveness**: As highlighted by another user, the EA may become unresponsive under certain conditions, possibly due to resource constraints on your system.
- **Compatibility Issues**: The robot struggles with other EAs in terms of profitability, which can be a drawback if you like a multi-EA setup.
Tips for Improvement
To enhance your experience with the Reward Multiplier EA, consider the following:
- **Optimize Your Computer**: Ensure your device has adequate resources and is dedicated to trading. Too many open charts can impact performance.
- **Backtest Thoroughly**: Before trading with real money, perform extensive backtesting using various settings to identify what works best for you.
- **Monitor Performance**: Regularly check the EA's performance and make necessary adjustments. Don't assume it will continue to perform well without oversight.
- **Stay Updated**: Since development is ongoing, keep an eye on updates from the developers that might address some of the current issues.
Source Code of Reward Multiplier MT4
While we don't have access to the original source code of the Reward Multiplier MT4, we can create our version based on the descriptions provided on MQL5. This allows us to customize and adapt the code according to our trading preferences. However, it's important to note that the team behind EASY Trading Team does not sell the Reward Multiplier MT4 robot; we merely created code based on its description available on MQL5. Feel free to reach out with any questions regarding the code—we're happy to help.
Code:
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