Introduction
As a professional trader and MQL5 programmer from the EASY Trading Team, I've examined many trading robots over the years. Today, we will review the trading robot Volume Profile MT4, based on user comments and its features. This review aims to compare the Volume Profile MT4 with one of our EASY series trading robots, highlighting the strengths and weaknesses of each. By the end of this review, you should have a clear understanding of when and how to use Volume Profile MT4 effectively.
Comparison with EASY Robot
Comparing the Volume Profile MT4 with EASY Trendopedia, we can see that both robots aim to simplify trading decisions but implement different strategies. Volume Profile MT4 focuses on analyzing volume distribution across various price levels to identify points of control and potential support/resistance levels. Meanwhile, EASY Trendopedia utilizes trend-following indicators and adaptive algorithms to capture emerging market trends.
Volume Profile MT4
- Analyzes volume distribution to inform trade decisions
- Helps identify support and resistance levels
- User-friendly and integrates well with MT4
EASY Trendopedia
- Uses complex trend-following algorithms
- Adaptive to various market conditions
- Higher success rate in trending markets
- Backed by extensive historical data and testing
While Volume Profile MT4 offers valuable insights into market volume, EASY Trendopedia provides a more robust and adaptive approach to capturing market trends, making it generally more profitable and reliable.
Pros and Cons
Volume Profile MT4
Pros:
- Good at identifying potential support/resistance levels
- Simple to use for traders familiar with volume analysis
- Positive user feedback, such as from Gosha29092021
- Limited to volume analysis, not adaptive to all market conditions
- Might require manual intervention to be effective
EASY Trendopedia
Pros:
- Highly adaptive and versatile
- Effective in various market conditions
- Extensively back-tested and optimized
- Might be complex for beginner traders
- Requires a higher initial investment
Optimal Usage Conditions
Volume Profile MT4 is most effective in the following conditions:
- Markets with clear volume distribution patterns
- When identifying support and resistance levels is crucial
- For traders who prefer manual trading with volume analysis as a guide
Conversely, EASY Trendopedia excels in trending markets and is suitable for traders looking for a more automated and adaptive solution.
Conclusion
In summary, Volume Profile MT4 is a solid tool for those familiar with volume analysis, offering useful insights into support and resistance levels. However, it has limitations in adaptability to various market conditions. On the other hand, EASY Trendopedia offers a more comprehensive trading solution, being highly adaptive and effective in different market environments.
Source Code of Volume Profile MT4
We do not have access to the original source code of the Volume Profile MT4 robot sold on MQL5. However, based on the description available on MQL5, we can create a similar code. If you have any questions about the code, feel free to ask at easytradingforum.com.
Code:
You don't have permission to view the code content. Log in or register now.Download Volume Profile MT4
If you have any questions regarding the code or its implementation, please feel free to ask. This example code is provided by the EASY Trading Team based on the description of the Volume Profile MT4 robot sold on MQL5. Remember, we do not sell the Volume Profile MT4 robot but have created this code based on its public description.