Introduction
Trend Monitor VZ MT5 is a trading robot designed by Sergey Ermolov, leveraging the Elliott Wave Theory and Valable ZigZag Indicator. It's marketed as a tool to provide traders with a clear visual representation of market trends across multiple timeframes and currency pairs. With a user rating of 5 and glowing reviews, one might think it's the holy grail of trading. But let's not get ahead of ourselves.Description of Features
The Trend Monitor VZ MT5 uses fractals to plot the wave structure of the market, aiming to offer a stable trend direction without frequent changes. It displays the trend direction on a chart for all timeframes and currency pairs, giving traders a comprehensive view of the market's state. Key settings include the number of bars on the left and right to build a fractal. According to user reviews, it’s stable and reliable, but let's dig deeper.Analysis of Results
Over the past year, the Trend Monitor VZ MT5 has been praised for its ability to narrow down the market each day, providing a good overview and saving time. User bandelero rated it 5 stars, highlighting its stability and reliability. However, one review does not make a robust analysis. The real test lies in its performance across various market conditions. The indicator's reliance on fractals and Elliott Wave Theory might work well in trending markets but could falter in choppy conditions.Pros and Cons
- Pros:
- Stable and reliable, according to user reviews.
- Provides a comprehensive market overview.
- Saves time by narrowing down market analysis.
- Cons:
- Performance may vary in different market conditions.
- Relies heavily on fractals and Elliott Wave Theory, which might not suit all traders.
- Limited user feedback available for a thorough analysis.
Source Code of Trend Monitor VZ MT5
We don't have access to the original source code of the Trend Monitor VZ MT5 sold on MQL5. However, based on its description, we can create a similar code. If you have any questions about the code, feel free to ask. This example code is from easytradingforum.com, based on the description of the robot sold on MQL5. Note that the EASY Trading Team does not sell the Trend Monitor VZ MT5; we only created a code based on its description.
Code:
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