Introduction
So, you stumbled upon the Scanner TTM Squeeze MACD and are wondering if it's worth your precious trading time and money. Well, let's dive into its features, analyze its results over the past year, and try to separate the hype from reality, shall we?
Description of Functions
The Scanner TTM Squeeze MACD is designed to identify potential trade opportunities by utilizing the TTM Squeeze indicator along with the MACD. The primary functions include:
- Scanning multiple timeframes and symbols.
- Identifying TTM Squeeze conditions.
- Combining MACD for confirmation.
- Sending notifications for potential entry points.
Sounds pretty fancy, but let's see how it performs in real-world trading scenarios.
Analysis of Results
Over the past year, the Scanner TTM Squeeze MACD has shown mixed results. The robot demonstrates an ability to identify trading opportunities, but its effectiveness remains inconsistent. User feedback, for instance, points out some critical shortcomings. Neil Richard Pinheiro, who rated the robot at 3 stars, highlighted a significant flaw: the scanner doesn't show entry points at the precise minute of the search.
While the holy grail of trading bots remains an elusive dream, it's important to recognize these limitations. The robot has its fair share of winners and losers, but the overall profitability remains debatable.
Pros and Cons
Pros:
- Automates the scanning process across multiple symbols and timeframes.
- Integrates TTM Squeeze with MACD for potential trade entries.
- Sends notifications for user-defined conditions.
Cons:
- Inconsistent performance.
- Fails to show entry points at the exact minute, as noted by users.
- Complexity in setup and configuration.
Conclusion
To sum it all up, the Scanner TTM Squeeze MACD is a tool with potential but certainly not without flaws. It seems more fit for experienced traders who can supplement its signals with their own analysis rather than relying on it entirely. However, it wouldn’t hurt to discuss this more thoroughly on trading forums.
I urge you to share your experiences and results with this robot and see how it stacks up against the feedback from the community.
Source Code of Scanner TTM Squeeze MACD
Unfortunately, the actual source code of the original Scanner TTM Squeeze MACD robot sold on MQL5 is not available. Nonetheless, we can develop a functionally similar code based on its description from the MQL5 marketplace.
If you have questions about the code, feel free to ask. Remember, this is an example code provided by easytradingforum.com and is based on the description of the trading robot sold on MQL5. Note that the EASY Trading Team does not sell the Scanner TTM Squeeze MACD; we merely created a robot based on its description.
Code:
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