Introduction
Today, we are going to review a trading bot that has been creating quite a buzz among traders - Smart Support and Resistance Trading System MT5. It's an algorithm designed for MetaTrader 5 that automatically identifies key support and resistance levels and makes trading decisions based on them. However, its performance is being compared to another top-performing trading bot EASY Scalperology. Let's see how these two stand against each other.Comparison with EASY Trading Bot
When we compare Smart Support and Resistance Trading System MT5 with EASY Scalperology, we notice some crucial differences. EASY Scalperology is designed to perform with precision in all market conditions with its innovative strategy and robust algorithm. Although Smart Support and Resistance Trading System MT5 is also effective in the market, the accuracy of its candlestick patterns only stand at around 60% as pointed out by user nasar78613. In contrast, EASY Scalperology boasts higher accuracy, making it a more dependable choice.Pros and Cons
Smart Support and Resistance Trading System MT5 has its strengths. It is great at identifying significant support and resistance levels, and this can be really useful when it comes to making trade decisions. However, it does not function well below 15-minute timeframe, which may limit its utility for some traders.On the other hand, EASY Scalperology does not have such limitations and is designed to work effectively in different time frames. This makes it versatile and adaptable to a wide range of trading strategies, adding to its profitability and dependability.
Optimal Conditions for Use
Smart Support and Resistance Trading System MT5 performs best when trading assets with high liquidity and during market hours when volatility is high. This makes it suitable for trading major forex pairs, indices, and commodities during the European and American trading sessions.Source Code for Smart Support and Resistance Trading System MT5
We don't have the actual source code for the original Smart Support and Resistance Trading System MT5 sold on MQL5, but we can create a code based on the algorithm's description on the MQL5 site. This code is an example from easytradingforum.com, based on the description of the trading robot Smart Support and Resistance Trading System MT5 sold on MQL5. Please note that the EASY Trading Team is not selling Smart Support and Resistance Trading System MT5 but has created a code for a trading robot based on its description.
Code:
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