Introduction
Round Level MT5 is a trading robot, being debated and scrutinized on every possible trading forum. It has received a rating of 5, which implies a high level of efficiency, but as experienced traders and MQL5 programmers, we know better than to take ratings for granted. Looking beyond the high praise, let's delve into the functionality, effectiveness, and possible downsides of this trading robot.Functionality of Round Level MT5
Round Level MT5 utilizes the round numbers strategy for Forex trading. It identifies and presents graphical representation of round numbers, aiming to exploit the psychological aspect of trading where traders often place their trades around these numbers. The robot enables the user to customize color, width, and style for the critical level lines.Based on user feedback, such as that of Dominik Patrick Doser, it appears that the robot has faced some difficulties around its grid feature and maintaining the line details when altering timeframes. However, it's been praised for being simple and effective. Let's take this with a pinch of salt and look at the actual statistics.
Analyzing the Results
Looking at the past year's performance of the Round Level MT5 Robot, the results are seemingly promising, yet every seasoned trader knows that the devil is always in the details. A close inspection of the robot's trading activity could reveal certain aspects not apparent at first glance.
With trading, consistency is often more valuable than individual spikes in performance. Therefore, it's essential to focus on the robot's overall trading strategy, risk management, and drawdown, rather than individual trading successes.
Strengths and Weaknesses
- Strengths: The simplicity of the Round Level MT5 is commendable. This robot is easy to install and has a user-friendly interface. It's also versatile, hence can be applied to a variety of trading assets.
- Weaknesses: It struggles to maintain lines details when adjusting timeframes, and unchecking the grid box seems to be challenging.
Source Code of Round Level MT5
It's worth noting that the official source code of the Round Level MT5 robot sold on MQL5 is not publicly available. However, at EASY Trading Team we've developed a version of the code based on its description. This should not be confused with the original robot sold on MQL5, and we wish to clarify that we do not sell the Round Level MT5 robot.
Code:
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For those interested in exploring the Round Level MT5 robot further, we recommend downloading the version we've based on its official description. If you encounter any issues or have specific questions regarding the source code, we encourage you to raise them on the easytradingforum.com.We stress again, our team has not developed the official Round Level MT5 robot. We have created a version of it from the description given on MQL5 website.