Introduction
Trading robots can be tricky. Excessive Momentum Indicator MT5 promises a lot, but can it really deliver? Users think so, but let’s dive in and see if we can poke some holes in this seemingly perfect indicator.
Features Description
The Excessive Momentum Indicator MT5 offers several key features:
- Reversal Detection: Claims to identify accurate reversal points.
- Repaint Issue: Yes, it repaints. But apparently, it still works.
- Timeframe Flexibility: Users suggest waiting 10-20 minutes on lower timeframes (M1/M5) before acting.
According to the users, 50% of the job is done by the indicator, while the other 50% relies on technical analysis and patience to wait for confluence before entry and exit.
Results Analysis
The results over the past year show some impressive statistics. However, any professional trader would approach these claims with caution. According to user feedback:
- elite luis: Praises the accuracy but notes it requires additional TA.
- David T: Sees potential after a few days, but the demo failed him.
- Алексей Верховых: Claims 28 out of 30 profitable trades, which seems almost too good to be true.
Pros and Cons
Taking the feedback and results into account, here are some pros and cons:
Pros:
- Accurate reversal detection according to users.
- Flexibility across different timeframes.
- High user satisfaction and positive reviews.
Cons:
- Indicator repaints, which can lead to misleading signals.
- Requires additional technical analysis and patience.
- The demo did not work for some users, raising reliability questions.
Source Code of Excessive Momentum Indicator MT5
We don't have access to the original source code of the Excessive Momentum Indicator MT5. However, based on its description and features listed on the MQL5 website, we can certainly create a similar code. If users have questions or need help with this, feel free to ask. Note that the code provided by our team at easytradingforum.com is an interpretation and not the original algorithm.
Code:
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In conclusion, the Excessive Momentum Indicator MT5 has received positive reviews and seems to offer potential for accurate trading signals. However, its repainting issue and the need for additional technical analysis mean it’s not a magic bullet. If you decide to use it, engage with the community on forums and share your results to help others.
For more detailed statistics and to download the indicator, visit the official website at Excessive Momentum Indicator MT5 Download.
Keep your expectations balanced and approach this tool with the same skepticism and analytical mindset that any proficient trader should have.