Introduction to Weis Waves Trading Robot
Welcome traders, your curiosity about the Weis Waves trading robot has led you to this comprehensive guide. True to my nature, I assure you that no accolades will be showered upon this robot, only an objective viewpoint is offered. Weis Waves, as some of you may know, is a trading robot that operates on the principle of wave volume analysis. But does it truly work as magnificently as it sounds? Well, let's find out.
Installation and Setup of Weis Waves
Step 1: Start by downloading the Weis Waves trading robot from the official MQL5 website.
Step 2: Open your MT5, click on File, then Open Data Folder. Go to MQL5 -> Experts -> paste the robot there.
Step 3: Restart your MT5 platform and you should find the robot under Navigator -> Expert Advisors.
Now, some settings will need tweaking for optimal performance. But, as sarcastic as it may sound, no 'one size fits all' setting exists, mostly because of the varying appetite for risk among traders. However, there are a few, ahem, general settings that might serve as a good starting point.
- Wave Volume Type – Set this to 'Tick Volume' for forex trading
- Wave Reversal Amount – Now this could be subjective, but a decent starting point might be 1% of the instrument’s price
- Price Type – FernandoLC, we hear you. Yes, it's feasible to adjust this setting to either 'Close price', 'High/Low price', just as you desired.
Experience with Weis Waves
My experience with Weis Waves? Well, much like ERIKA1987 and jhonatauemerson, I've found some glitches. It can occasionally fail to generate wave volume data, leaving you stranded with an almost useless histogram. Yet, other times, it operates as smoothly as you would expect, making it a reasonably 'good' indicator, as per the words of Thiago Costa.
Tips for Improvement
The Weis Waves trading robot could potentially improve with better error handling, and possibly with the inclusion of more customization options for traders. Also, it wouldn't hurt to add an option for users to define the exact time frame for wave calculations. And, martim souza, before you get excited, remember, these are just suggestions and not yet implemented.
The Ins and Outs of Weis Waves Source Code
Although I'd love to share the actual source code of the Weis Waves trading robot sold on MQL5, unfortunately, we do not have that. However, we do have a code based on its description as provided on MQL5. You can find this imitation code at easytradingforum.com, a beacon of hope for those left high and dry by the original Weis Waves robot. In case you need further assistance, feel free to throw your queries at us. But remember, we, the EASY Trading Team, are not the creators of Weis Waves. We only offer coding solutions.
Code:
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Download Weis Waves today and dip your toes into the world of wave volume trading. With constant tweaks and careful observation, you might just find the rhythm you've been looking for in your trades. However, don't forget to keep your expectations at bay and trade smartly. For all your Weis Waves download related queries, don't hesitate to drop us a line.
In essence, Weis Waves can be a valuable tool in your trading arsenal if used effectively. However, as with all systems, ensure to backtest extensively and adapt the settings to your personal trading style. Remember, no tool can guarantee profits, but the right one can definitely enhance your trading strategies.