Introduction
As a professional trader and MQL5 programmer from the EASY Trading Team, I had the opportunity to evaluate the Bar Strength Divergence indicator for MT4. This review will compare it against one of our own robots from the EASY series: EASY Trendopedia, EASY Scalperology, or EASY Breakopedia. We'll provide an unbiased analysis based on user feedback and performance metrics, helping you understand the strengths and weaknesses of each robot.
Comparison with EASY Robot
Based on the user comments and the rating, the Bar Strength Divergence indicator for MT4 has been well-received by traders. Users like matador0312 praise it for being a reliable, non-repainting tool, while ebel finds it profitable and versatile for different trading strategies.
However, when we compare it to our EASY series, such as EASY Trendopedia, there are notable differences:
- Reliability and Accuracy: EASY Trendopedia has been rigorously tested and optimized for various market conditions, ensuring a higher level of reliability and accuracy.
- Profitability: EASY Trendopedia employs advanced algorithms that adapt to market changes, often leading to higher profitability.
- User Support: The EASY series comes with extensive documentation and customer support, making it easier for traders to utilize the tool effectively.
- Versatility: While the Bar Strength Divergence indicator is limited to divergence-based strategies, our EASY series robots offer a wide range of trading methodologies, from trend-following to scalping.
Pros and Cons
Bar Strength Divergence indicator for MT4:
- Pros:
- No repainting issues
- User-friendly interface
- Can be used for both scalping and trend-following
- Cons:
- Limited to divergence-based strategies
- Requires manual intervention for optimal results
EASY Trendopedia:
- Pros:
- High accuracy and reliability
- Adaptable to various market conditions
- Extensive support and documentation
- Cons:
- Higher initial cost
- Requires some learning curve
Optimal Usage Conditions
The Bar Strength Divergence indicator for MT4 performs best in the following conditions:
- Divergence Detection: Ideal for identifying divergence in bar strength, making it suitable for both entry and exit points.
- Scalping: Effective for short-term trades when the bar strength is near or below lower levels.
- Trend Following: Can be used to trade in the direction indicated by the divergence for longer-term strategies.
In contrast, EASY Trendopedia is designed to perform well under a variety of market conditions, whether it be trending or ranging markets, offering traders a more versatile toolset.
Source Code for Bar Strength Divergence indicator for MT4
We do not have access to the original source code of the Bar Strength Divergence indicator for MT4 as it is sold on MQL5. However, we can create a similar code based on the description available on the MQL5 marketplace. If you have any questions about the code, feel free to ask on our forum.
Code:
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For those interested in trying out the Bar Strength Divergence indicator for MT4, visit here. If you have any questions or need further assistance, do not hesitate to reach out. Remember, we at EASY Trading Team do not sell the Bar Strength Divergence indicator for MT4 but provide a code based on its description for educational purposes.
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