Introduction
Supports and Resistances Lines robot has been gaining traction lately, if you believe the user ratings, with an average rating of 4.81. But, as always, the devil is in the details. Let's cut through the hype and get to the core of what this robot actually offers and how effective it really is.Description of Functions
The Supports and Resistances Lines robot claims to perform the following functions:
- Identification of support and resistance levels
- Real-time updating of these levels
- Alerts when the price approaches these levels
- Compatibility with multiple instruments
In other words, it's offering to do something that any half-decent trader should already be capable of doing with a few lines on their charts.
Analysis of Results
Based on the last year’s performance, the robot has shown mixed results. User feedback has been generally positive but not without some reservations. Here’s the summary:
- Currency pairs: Decent performance, especially when trading within well-defined ranges.
- Other instruments: Suboptimal results, with feedback noting that reliance on support and resistance often led to losses or reduced profits.
So, it's clear: the robot performs, but within certain limitations. It’s not a magic bullet.
Pros and Cons
Let’s break down the strengths and weaknesses:Pros:
- Clear identification of support and resistance levels
- Easy to use, even for beginners
- Generally effective on currency pairs
Cons:
- Less effective on non-currency instruments
- Over-reliance can lead to poor trading decisions
- Limited customization options
Conclusion
In summary, the Supports and Resistances Lines robot has merits but isn't without its flaws. It could be a decent addition to your trading toolkit, especially if you primarily trade currency pairs. However, don't expect miracles, and always use it in conjunction with other indicators and strategies.Source Code of Supports And Resistances Lines
We don’t have access to the actual source code of the original Supports And Resistances Lines robot sold on MQL5. However, based on the description available on MQL5, we have created an example code. If you have any questions or would like to see the example code, feel free to ask.
Code:
You don't have permission to view the code content. Log in or register now.Download Supports And Resistances Lines Trading Robot
For those interested in downloading the Supports And Resistances Lines robot, you can visit the official page at forexroboteasy.com/trading-robot/supports-and-resistances-lines.Feel free to discuss your experiences and results on the forum. Your feedback helps everyone! Remember, our team at EASY Trading Team does not sell the Supports And Resistances Lines robot. We simply provide a code example based on its description.