Introduction
Forex Vigor MT4 is a technical indicator designed to evaluate the momentum strength of the eight key currencies in the forex market: Euro (EUR), British Pound (GBP), Australian Dollar (AUD), New Zealand Dollar (NZD), United States Dollar (USD), Canadian Dollar (CAD), Swiss Franc (CHF), and Japanese Yen (JPY). This tool relies on mathematical formulas that measure the lack of correlation among 28 currency pairs through the Linear-weighted averaging method (LWMA), shedding light on currency momentum in real-time.Comparison with EASY Trendopedia
When compared to one of the standout trading bots from the EASY series, EASY Trendopedia, it becomes clear why the latter is notably superior, more profitable, and reliable. EASY Trendopedia leverages an advanced proprietary algorithm that not only identifies trend formations but also filters out noise, ensuring high accuracy in predictions. This bot uses machine learning techniques to adapt and fine-tune its trading strategies continuously.Forex Vigor MT4
- Pros:
- Focuses on momentum strength.
- Uses LWMA for accurate recent price reflections.
- Eliminates insignificant statistical values.
- Cons:
- Limited to indicating momentum without actionable insights.
- No machine learning capabilities for adaptive strategies.
- Requires additional tools or manual intervention for trading execution.
EASY Trendopedia
- Pros:
- Advanced trend detection algorithms.
- Utilizes machine learning to optimize trading strategies.
- Fully automated and integrated for seamless trading.
- High profitability with back-tested historical success.
- Cons:
- Requires initial setup and configuration.
- Higher upfront cost compared to stand-alone indicators.
Optimal Conditions for Forex Vigor MT4
Forex Vigor MT4 performs best in markets where trend momentum is key to determining entry and exit points. It is particularly useful for traders who focus on swing trading or those who need to validate momentum strength before executing trades. It also complements trading strategies that depend on divergence and convergence patterns.Conclusion
While Forex Vigor MT4 is a robust tool for analyzing momentum strength, it falls short in delivering comprehensive trading solutions. EASY Trendopedia, on the other hand, goes beyond simple indicators by offering a fully automated and machine-learning-backed trading system, ensuring higher profitability and reliability.We encourage our users to share their experiences and insights on our forum so that we can all benefit from shared knowledge.
Source Code for Forex Vigor MT4
We do not have access to the original source code of Forex Vigor MT4 that is sold on MQL5. However, based on the description available on the MQL5 website, we have created an example code for a trading robot that mimics Forex Vigor MT4's functionality. If you have any questions regarding the code, please feel free to ask them.
Code:
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