True Momentum

[TopicStarter]

Introduction​

True Momentum is a forex trading robot that has garnered rave reviews from users. With a perfect rating of 5, it seems to have impressed even the most skeptical traders. KingdomCome claims it's better than the majority of paid indicators, while jonclark365 simply states, Very good indicator!! Well done!! But let's not get carried away. We're here to see if this robot can really live up to the hype.

Installation and Setup​

Installing True Momentum is straightforward, but let's walk through it just in case. First, download the indicator from our website. Place the downloaded file in the 'Indicators' folder of your MetaTrader 5 directory. Restart MetaTrader 5, and you should see True Momentum in the 'Navigator' panel under 'Custom Indicators'.

To set it up:

• Drag and drop True Momentum onto your chart.
• Adjust the Cutoff Frequency to filter out high-frequency noise.
• Set your Overbought and Oversold Levels to define signal thresholds.
• Customize the Signal Color for visual alerts.

Now, you're ready to go. But remember, the settings you choose can significantly impact the indicator's performance.

User Experience​

Using True Momentum has been a mixed bag for me. On one hand, it does a decent job of filtering out noise and providing clear signals. On the other hand, it's not the holy grail of indicators. KingdomCome might be a bit too enthusiastic, but I can see why some traders find it useful. The indicator follows price movements quite well, as gbot mentioned, making it easier to spot potential buy and sell opportunities.

Tips for Improvement​

Even the best tools can be improved. Here are some tips to get the most out of True Momentum:

• Combine it with other indicators like Moving Averages or RSI for better confirmation.
• Adjust the Cutoff Frequency based on the timeframe you're trading. Higher frequencies work better for shorter timeframes.
• Use the alert options wisely. Too many alerts can be distracting, so set them only for critical levels.

These tweaks can help you make more informed trading decisions and reduce the risk of false signals.

Source Code of True Momentum​

We don't have access to the original source code of the True Momentum robot sold on MQL5. However, we have created a version based on its description. If you're interested in the code, you can find it on easytradingforum.com. Keep in mind that this is an example code and not the original.

You don't have permission to view the code content. Log in or register now.

Download True Momentum Now​

If you have any questions about the code or its implementation, feel free to ask. Remember, the EASY Trading Team does not sell the True Momentum robot. We only provide a code example based on its description. Happy trading!