Introduction
So, you’ve stumbled upon the AK CAP Toolbox, a free and supposedly efficient trading robot. With a perfect rating of 5 and glowing reviews like simple but effective for trends, it sounds like a dream come true. But let’s not get carried away. We’re here to dissect this tool, see how it ticks, and determine if it’s worth your time.Installation and Setup
Installing the AK CAP Toolbox is straightforward, but let’s walk through it step-by-step for the uninitiated.- Download the AK CAP Toolbox from this link.
- Open MetaTrader 5 and navigate to the “File” menu, then select “Open Data Folder.”
- In the Data Folder, go to MQL5 > Indicators and paste the downloaded file.
- Restart MetaTrader 5.
- In the Navigator window, find the AK CAP Toolbox under “Indicators” and drag it onto your chart.
Once installed, you’ll need to configure the settings. Here’s what you should focus on:
- VWAP Indicator: Customize the color and position to your liking. The default is top right.
- 3 EMA Indicators: Set the periods for Fast, Medium, and Slow EMAs. Default settings are 12, 26, and 50.
- Candle Timer: Adjust the color, font size, and position. Make sure it’s visible but not intrusive.
User Experience
After installing and configuring the AK CAP Toolbox, you’ll notice its simplicity. The VWAP, 3 EMA, and candle timer are all easy to read and interpret. According to user maurobianchi, it’s simple but effective for trends. While this is promising, simplicity doesn’t always mean efficiency.In my experience, the toolbox does a decent job of providing essential data without overwhelming you. The VWAP indicator is particularly useful for identifying market sentiment, while the EMAs help in spotting trends. The candle timer is a nice touch for intraday traders.
Tips for Improvement
Even the best tools can be improved. Here are some tips to get the most out of the AK CAP Toolbox:- Customization: Don’t stick with the default settings. Customize the colors and positions to fit your trading style.
- Combine with Other Indicators: While the AK CAP Toolbox is useful, combining it with other indicators like RSI or MACD can provide a more comprehensive view.
- Regular Updates: Keep an eye on updates from the developer. New features or bug fixes can significantly improve performance.
Source Code of AK CAP Toolbox
We don’t have the original source code of the AK CAP Toolbox sold on MQL5, but we’ve created a version based on its description. This code is available for free and can be customized to suit your needs. If you have any questions about the code, feel free to ask. Remember, this is an example code from easytradingforum.com, based on the description of the AK CAP Toolbox sold on MQL5. The EASY Trading Team does not sell the AK CAP Toolbox; we only created a trading robot based on its description.
Code:
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