Introduction
So, you want to make money while you sleep. Great idea. But let's be real, trading robots can be hit or miss. Today, we're talking about the trading robot Spread on Chart, which, according to Tiziano Coco and his enthusiastic GREAT! review, is at least not totally useless. Let's dive into how to set this thing up and (hopefully) make it work to your advantage.
Installation and Setup
Alright, let's get this over with. Here’s how you install and set up Spread on Chart:
- Download the Robot: Visit this link to download the robot.
- Install the Robot: Open your MetaTrader 5 platform. Go to File > Open Data Folder > MQL5 > Experts and paste the downloaded file here.
- Activate the Robot: Restart MetaTrader 5. You'll see Spread on Chart under the Navigator panel in the Expert Advisors section. Drag it onto a chart.
- Configure Settings: Set the parameters according to your trading strategy. Default settings are for rookies. Play around if you think you know better.
That's it. You're all set up. Don't screw it up.
Experience Using Spread on Chart
Let’s be honest: trading robots are not magic wands. Spread on Chart does what it says—displays the spread on your chart. Does it make you a millionaire overnight? Hardly. But it gives you the edge you need to make informed decisions.
I’ve seen it perform well during volatile market conditions. It's particularly useful for scalping strategies. But if you expect it to be the Holy Grail of trading, maybe reconsider your career choices.
Tips for Improvement
You’re probably wondering how you can squeeze every last drop of efficiency from this robot. Here's the lowdown:
- Optimize Parameters: Tweak the default settings to match your trading style. It’s not rocket science, but close enough.
- Monitor Performance: Don’t just set it and forget it. You need to keep an eye on how it’s performing, especially during high-volatility periods.
- Backtest Rigorously: Use historical data to see how the robot would have performed. If it looks like a train wreck, maybe rethink your strategy.
- Combine with Other Indicators: Don’t rely solely on Spread on Chart. Use it in combination with other indicators for a more well-rounded approach.
Source Code of Spread on Chart
Ah, the million-dollar question—what's under the hood? The original source code of Spread on Chart isn't disclosed by its MQL5 seller. However, we've cooked up a code based on what’s described on MQL5.
Feel free to check out our version and tweak it as you see fit. If you have questions about the code, go ahead and ask. Just remember, we’re not selling the robot Spread on Chart. We only created an example based on its description.
Code:
You don't have permission to view the code content. Log in or register now.Download Spread on Chart for MetaTrader 5
Ready to give it a shot? Download Spread on Chart for MetaTrader 5 and start optimizing your trading strategy today.
If you think you can handle it, download the example code from easytradingforum.com and start tweaking. And remember, trading isn’t for the faint-hearted. So, good luck, you’ll need it.