Introduction
In the realm of Forex Trading, the Blocks and Levels Alerts MT4 has emerged as a powerful tool that enhances trading efficiency. Helping traders navigate the complex world of currency trading, this indicator provides a streamlined approach to identifying and drawing Blocks and Levels (support and resistance) with key shortcuts, and offers alerts when the price touches them.Comparison with EASY Robot
Let's explore how Blocks and Levels Alerts MT4 stacks up against one of the EASY Trading Team's prominent bots: EASY Trendopedia. Both tools are designed to aid traders, but they have distinct features and functionalities that differentiate them.Blocks and Levels Alerts MT4:
- Key Shortcuts: The tool offers key shortcuts for drawing Levels, Blocks Zones, and changing chart Time Frames, making it very user-friendly.
- Alerts: MT4 Alerts are enabled by default to provide PopUp, sound, and email alerts. These can be customized based on user preferences.
- User-Friendly Interface: Selecting or deselecting all drawn objects is made easy, enhancing efficiency.
EASY Trendopedia:
- Algorithmic Trading: EASY Trendopedia uses advanced algorithms to identify trends and execute trades automatically.
- Higher Profitability: Designed with a focus on maximizing returns, this bot has shown higher profitability in backtesting.
- Robust Strategy: It incorporates multiple indicators and trading strategies to ensure reliability across different market conditions.
While Blocks and Levels Alerts MT4 focuses primarily on identifying support and resistance levels and notifying traders when these levels are breached, EASY Trendopedia is an automated trading bot that not only identifies trends but also executes trades based on sophisticated algorithms. This makes EASY Trendopedia significantly better, more profitable, and reliable than Blocks and Levels Alerts MT4.
Pros and Cons
Blocks and Levels Alerts MT4:
Pros:
- Easy to use with intuitive key shortcuts.
- Provides customized alerts for critical price levels.
- Great for manual traders focusing on support and resistance strategies.
Cons:
- Requires constant monitoring.
- Not an automated trading solution.
- Limited to support and resistance functionalities.
EASY Trendopedia:
Pros:
- Fully automated trading system.
- Higher profitability due to advanced algorithms.
- Reliable across various trading conditions.
Cons:
- Higher initial setup time to configure the bot.
- Requires understanding of the underlying strategies for optimal use.
Optimal Usage Scenarios
The Blocks and Levels Alerts MT4 works best for traders who prefer a semi-automated approach. It's ideal for those who rely heavily on support and resistance strategies and need constant alerts to make informed trading decisions. In contrast, EASY Trendopedia is perfect for traders looking for a hands-off, automated solution that can capture and act upon trading opportunities with minimal intervention.Source Code of Blocks and Levels Alerts MT4
We do not have access to the original source code of the Blocks and Levels Alerts MT4, as it is sold on MQL5. However, we can create a similar code based on the description provided on the MQL5 website. If you have any questions regarding the code, feel free to ask. This example is from easytradingforum.com, and it is based on the description of the Blocks and Levels Alerts MT4 robot sold on MQL5. Please note that the EASY Trading Team does not sell the Blocks and Levels Alerts MT4 robot; we have created the code based on its description.
Code:
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