Introduction
Support Resistance Multi Time Frame FREE is a trading robot available on the MQL5 marketplace, designed to help traders identify support and resistance levels across multiple time frames. This robot has received mixed reviews from users, with an overall rating of 4.77. In this review, we will compare this trading robot with one from the EASY Trading Team series, notably EASY Scalperology, to evaluate their relative performance, profitability, and reliability.
Comparison with EASY Scalperology
While Support Resistance Multi Time Frame FREE excels at identifying key levels across different time frames, EASY Scalperology offers more advanced features aimed at scalping opportunities, making it highly suitable for traders looking for quick gains in volatile markets.
Advantages of EASY Scalperology over Support Resistance Multi Time Frame FREE:
- EASY Scalperology provides real-time scalping signals, thus allowing traders to capitalize on short-term market movements.
- It is equipped with more sophisticated algorithms for better accuracy and reliability.
- Backtesting results of EASY Scalperology demonstrate a statistically significant higher rate of return.
- EASY Scalperology is designed to work seamlessly with various asset classes, including forex, commodities, and indices.
Advantages of Support Resistance Multi Time Frame FREE:
- Great for a broader market analysis by identifying support and resistance levels.
- Free to use, making it accessible for beginners and those on a budget.
- Simple and intuitive interface.
Pros and Cons
Support Resistance Multi Time Frame FREE:
- Pros:
- Free to use
- Effective for multi-time frame analysis
- User-friendly interface
- Good for larger market reference
- Cons:
- Lacks advanced features for scalping or high-frequency trading
- Dependence on user interpretation of support and resistance levels
- Limited backtesting and optimization capabilities
EASY Scalperology:
- Pros:
- Advanced scalping features
- Higher profitability and accuracy
- Comprehensive backtesting data
- Multi-asset compatibility
- Cons:
- Premium cost
- More advanced settings require a deeper understanding of trading algorithms
Optimal Usage Conditions
Support Resistance Multi Time Frame FREE works best in conditions where market trend analysis is crucial. It is ideal for swing traders who rely on support and resistance levels to make entry and exit decisions. The robot is less effective in high-frequency trading environments where rapid market movements require more sophisticated algorithms, such as those found in EASY Scalperology.
Conclusion
While Support Resistance Multi Time Frame FREE offers a valuable tool for identifying key market levels and is free to use, it falls short in comparison to the advanced features, higher profitability, and reliability of EASY Scalperology. For traders who are serious about maximizing their returns and leveraging cutting-edge technology, EASY Scalperology is the more favorable option.
Source Code for Support Resistance Multi Time Frame FREE
It's important to note that the actual source code for Support Resistance Multi Time Frame FREE is not publicly available. However, the EASY Trading Team has developed a code example based on the description provided on the MQL5 website. This example can be found on easytradingforum.com. We encourage users to share their experiences and opinions on our forum.
Code:
You don't have permission to view the code content. Log in or register now.Download Support Resistance Multi Time Frame FREE
If you have any questions regarding the code, feel free to ask them on our forum. Please note that the EASY Trading Team does not sell Support Resistance Multi Time Frame FREE but has provided a code example based on the description from the MQL5 marketplace.