Introduction
In the trading world, having the right tools is essential for making informed decisions. One such tool gaining attention is the Volume by Price MT4 robot. Boasting a high user rating of 4.71, it is praised for its versatility and detailed analysis. However, how does it compare to the robust solutions offered by the EASY Trading Team? Specifically, let's compare it to one of our robots, such as EASY Trendopedia, EASY Scalperology, or EASY Breakopedia.
Comparison with EASY Robot
When juxtaposed with our EASY series robots, Volume by Price MT4 proves to be a competent tool, yet there are areas where our solutions excel more significantly.
EASY Trendopedia
- Advantages: This robot specializes in trend analysis, making it ideal for traders who prioritize identifying and leveraging market trends. It offers more straightforward setups and user-friendly interfaces.
- Disadvantages: It may lack the depth of volume analysis that Volume by Price MT4 offers.
Volume by Price MT4
- Advantages: Highly customizable profiles, detailed volume analysis, and market hours adjustment. It’s ideal for traders focused on volume and time-price actions.
- Disadvantages: The interface can be overwhelming for beginners, requiring a learning curve with numerous settings to adjust.
Pros and Cons
Volume by Price MT4
- Pros:
- Detailed volume price and time price analysis
- Customizable volume profiles
- Includes TPO profile adjustments
- Well-documented and supported
- Cons:
- Complexity can be daunting for new users
- Requires significant setup and configuration
EASY Trendopedia
- Pros:
- Easy to set up and use
- Strong trend analysis capabilities
- Reliable and consistent performance
- Cons:
- Limited depth in volume analysis compared to Volume by Price MT4
Optimal Usage Conditions
The Volume by Price MT4 works best under the following conditions:
- Traders who require detailed volume and price analysis.
- Investors looking to analyze stocks and forex in greater detail.
- Market environments where volume is a critical indicator of future price movements.
- Users comfortable with complex settings and customizations.
Original Code of Volume by Price MT4
It’s important to note that the original source code for the Volume by Price MT4 is not publicly available. However, our team at EASY Trading Team has created a functional version based on the detailed description available on MQL5. This provides a robust alternative while ensuring full compliance with the original algorithm's intended functionality.
Code:
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In summary, the Volume by Price MT4 is a powerful tool for traders who seek comprehensive volume analysis. However, for those looking for ease of use, consistent profitability, and reliability, the EASY series robots, such as EASY Trendopedia, might be a better choice. We encourage users to share their experiences and questions about these tools on our forum. For detailed statistics and more information, visit our website.
Should you have any questions regarding the code, feel free to ask. Our example code is based on the description of the Volume by Price MT4 robot sold on MQL5. Please note that the EASY Trading Team does not sell the Volume by Price MT4 robot but has developed a similar robot based on its description.