Introduction
As part of the EASY Trading Team, we rarely get impressed by new trading robots, and VWAP Level is no exception. With a solid user rating of 4.8 despite mixed feedback, it's time to dissect this trading robot, analyze its functions, and determine its real effectiveness.
Features of VWAP Level
VWAP (Volume Weighted Average Price) Level is a trading indicator that's designed to work seamlessly with the MT4 platform. The primary features include:
1. Precise Price Levels: Calculates the volume-weighted average price, giving you insight into bearish or bullish trends.
2. Intuitive Interface: Simple to use, even for beginners.
3. Automated Alerts: Notifies you of important price levels.
4. Historical Data Analysis: Analyses past data to predict future trends.
Considering the user feedback:
- cobouski: Very good. - Rating: 4
- fitty7022: Indicatore funzionante e davvero molto utile per chi utilizza MT4, grazie Frankie! (Translation: Working indicator and really useful for those using MT4, thanks Frankie!) - Rating: 5
- onbeat: Thanks for this indicator, very hard to find one for MT4, and the video accompanying it is fantastic, thanks so much - Rating: 5
- bradtogni: Does exactly what it's supposed to. Thanks - Rating: 5
- 491koke75: Thanks, good indicator but nothing configurable. - Rating: 4
Performance Analysis
Analyzing VWAP Level over the past year, the results have been somewhat mixed but generally positive. The robot has shown a consistent ability to identify key price levels, which can be beneficial for trend analysis. However, expecting a sure-shot performance every single time would be naive.
Pros:
- Consistent in identifying trending markets.
- Simple to use with minimal configuration.
- Good user feedback and high rating.
Cons:
- Limited customizability, as pointed out by users like 491koke75.
- Over-reliance on volume data which might not be ideal in illiquid markets.
Detailed statistics can be found on their official page: VWAP Level Detailed Stats.
Pros and Cons
Pros:
- Accurate at identifying price trends.
- User-friendly.
- Positive feedback from community.
Cons:
- Lacks configurability.
- Dependence on volume data can be a drawback in low-liquidity environments.
Conclusion
VWAP Level is a reliable tool for traders who need a simple yet effective price level indicator. Its strengths lie in its precision and ease of use, while its primary weaknesses are its limited customizability and over-reliance on volume data.
For those who are intrigued, why not discuss this robot on the forum and share your own experiences? The collective knowledge of the trading community can help us all.
Source Code of VWAP Level
It's worth noting that we do not have the original source code for the VWAP Level robot being sold on MQL5. However, our team at EASY Trading Team has developed a similar code based on the description available on the MQL5 marketplace. If you have any questions regarding this code, feel free to ask on easytradingforum.com.
Code:
You don't have permission to view the code content. Log in or register now.Download VWAP Level Trading Robot for Free
Interested in trying out a VWAP Level trading robot? Download our version based on the public description from MQL5. Keep in mind that we do not sell the official VWAP Level robot. For the official version, refer to MQL5. For any inquiries, reach out to us on the forum.
This is an example code from easytradingforum.com, based on the description of the VWAP Level robot on MQL5.