Introduction
Trailing on Last Top Bottom MT4 is a trading robot designed for MetaTrader 4, which focuses on trailing stops at the last top and bottom price levels. This strategy aims to maximize profit by dynamically adjusting stop-loss levels. The robot has received positive feedback from users, such as megz69 who gave it a rating of 5 and commented, i love this.... In this review, we will compare it with one of the EASY series robots, specifically the EASY Scalperology, to provide a comprehensive understanding of its strengths and weaknesses.
Comparison with EASY Scalperology
While Trailing on Last Top Bottom MT4 focuses primarily on trailing stops, EASY Scalperology incorporates a more robust scalping strategy. EASY Scalperology is designed to capitalize on small price movements with high frequency trades, making it more profitable and reliable in turbulent markets compared to the straightforward trailing stop strategy.
Advantages of EASY Scalperology:
- Advanced scalping algorithms for small price movements
- Higher frequency of trades, leading to potentially higher profits
- Extensive backtesting and optimization for various market conditions
- Better risk management features
Advantages of Trailing on Last Top Bottom MT4:
- Simple and easy-to-understand strategy
- Effective for trend-following strategies
- Less CPU-intensive compared to scalping bots
- User-friendly interface
Pros and Cons
Trailing on Last Top Bottom MT4
Pros:
- User-friendly and easy to set up
- Works well with trend-following strategies
- Requires low computational power
Cons:
- Limited to trailing stops strategy
- Less effective in volatile markets
- Lower trade frequency
EASY Scalperology
Pros:
- Highly profitable due to frequent trades
- Advanced algorithms for better risk management
- Extensive backtesting results available
Cons:
- More complex setup
- Higher CPU usage
- Requires constant market monitoring
Optimal Usage Conditions
Trailing on Last Top Bottom MT4 works best in trending markets where there are clear top and bottom price levels. This robot is ideal for traders who prefer a set-and-forget approach, as it requires minimal intervention once configured. It is less suitable for volatile markets where price fluctuations can trigger stop losses prematurely.
On the other hand, EASY Scalperology excels in both trending and volatile markets due to its high-frequency trading strategy. It is suitable for experienced traders who can actively monitor their trading environment and adjust settings accordingly.
Source Code of Trailing on Last Top Bottom MT4
We do not have access to the original source code of Trailing on Last Top Bottom MT4, which is a proprietary product sold on MQL5. However, we can develop a similar robot based on the description and parameters available on the MQL5 website. If you have any questions about the code or need help with customization, feel free to ask on the easytradingforum.com.
Code:
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If you are interested in trying out Trailing on Last Top Bottom MT4, you can download it from the official MQL5 marketplace. Remember, the EASY Trading Team does not sell this robot; we only provide an example code based on its description. Share your experiences and feedback on our forum to help others make informed decisions.