Touch VWAP MT4

[TopicStarter]

Introduction​

Here we are, yet another trading robot to be looked at and assessed with a critical eye. Today, it's the turn of Touch VWAP MT4. Don't let the interesting name deceive you; trading bots are no exception to my sceptic's rulebook.

Description of Functions​

The claim is that Touch VWAP MT4 aims to offer a strategic edge by integrating a Volume Weighted Average Price (VWAP) mechanism. The VWAP supposedly aids in identifying the true average price of a currency, taking volume into account. It's said to offer entry and exit signals, presumably based on this VWAP. The concept sounds interesting, but we know life is not as rosy as it sounds, especially in the world of forex.

Analysis of Results​

The magic 5-star rating, and our good friend freddddddddd seems to be having a decent time with it, even if it does occasionally cause his MT4 to close. But let's not forget that the devil lurks in the details. The true test is in its performance over the past year. You can scrutinize the specifics of the bot at the website.

Pros and Cons​

In the spirit of fair play, let's examine the potential upsides and the inevitable downsides, shall we?

• It's free. Although we all know there's no such thing as free lunch, especially when it comes to trading bots.
• It uses VWAP, which could be advantageous, given it's a fairly novel approach in a bot.

And for the cons:

• Seems to have a tendency to close MT4. That’s a bit like a chauffeur who occasionally likes to eject his passengers onto the highway.
• Lack of transparency of the underlying mechanism.

Source Code of Touch VWAP MT4​

Here comes the tricky part. We don't exactly know the true source code of the original bot sold on MQL5. But based on the bot description on MQL5, we could generate a similar code. If you have any questions regarding the code, do not hesitate to ask. Remember, this is only a sample code from easytradingforum.com and not the actual code of the bot sold on MQL5.

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Download and Discuss Touch VWAP MT4​

And now, the moment you've been waiting for, albeit with bated breath. If you're feeling adventurous and willing to take the plunge (with your hard-earned money), you can download Touch VWAP MT4. We're all for sharing and discussing, so don't hesitate to share your experiences (or grievances) on the forum. EASY Trading Team does not sell the Touch VWAP MT4 bot, we merely provide a code sample based on its description.