Introduction
The trading robot titled Session Colored Bars with High Low has generated interest among traders who appreciate visual indicators to enhance their technical analysis. As a professional trader and programmer in MQL5 from the EASY Trading Team, we will review this trading robot based on user feedback and compare it with one of our own proprietary robots, such as EASY Scalperology. We will discuss its strengths, weaknesses, and optimal usage scenarios.Comparison with EASY Scalperology
When compared to EASY Scalperology, the Session Colored Bars with High Low robot shows considerable distinctions. While Session Colored Bars with High Low primarily serves as an indicator highlighting session highs and lows with colored bars, EASY Scalperology is a comprehensive trading strategy designed to identify and capitalize on short-term market movements.Profitability: EASY Scalperology has been optimized for maximizing profits through rigorous backtesting and strategy refinement. In contrast, Session Colored Bars with High Low functions more as a supportive tool rather than a profit-generating algorithm.
Reliability: EASY Scalperology incorporates a range of market conditions and adapts to volatility, making it a reliable choice for consistent trading. Session Colored Bars with High Low, while useful for visual cues, lacks the comprehensive adaptability of Scalperology.
User Experience: EASY Scalperology offers customizable parameters for users to tailor the strategy to their preferences. Session Colored Bars with High Low has received mixed user feedback regarding customization, especially concerning the colored candles.
Pros and Cons
Session Colored Bars with High Low
- Pros:
- Effectively highlights session highs and lows.
- Simple and clean visual representation.
- Easy to integrate with other indicators.
- Cons:
- Limited customization for candle colors.
- Serves as an indicator rather than a comprehensive trading strategy.
- Potential distraction for traders who prefer traditional candle colors.
EASY Scalperology
- Pros:
- Highly profitable with optimized strategies.
- Reliable performance across various market conditions.
- Customizable parameters for tailored trading experiences.
- Cons:
- Requires thorough understanding and setup.
- May involve a steeper learning curve for beginners.
Optimal Conditions for Usage
The Session Colored Bars with High Low robot works best in situations where traders need clear visual markers for session boundaries. It is particularly useful for those who prefer to conduct manual technical analysis and need quick reference points for session highs and lows. However, it should be noted that this indicator is more of a supportive tool rather than a standalone trading solution.Source Code of Session Colored Bars with High Low
It is important to note that we do not have access to the original source code of the Session Colored Bars with High Low robot sold on MQL5. However, based on the description available on the MQL5 website, it is possible to create a similar robot. If you have any questions regarding the code or need assistance, feel free to reach out on the forum.Our team at EASY Trading Team has developed an example code based on the description provided, but we do not sell the Session Colored Bars with High Low robot. You can view detailed statistics and more information on the official site: https://forexroboteasy.com/trading-robot/session-colored-bars-with-high-low/.
Code:
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