Introduction to Trading Robot Horizontal Support Resistance Lines
Trading in the financial market takes a considerable amount of strategy, and a keen eye for detail. As a seasoned trader, and a programmer for MQL5, every algorithm matters. Today, we set our sights on the trading robot, Horizontal Support Resistance Lines, a tool that promises an exciting yet systematic approach to trading. We are yet to have reviews for this tool. However, my team and I at EASY Trading Team are eager to shed some light on it. You're welcome to add your experience in the review section.
Installation and Setting Up Horizontal Support Resistance Lines
Installation is fairly straightforward. Download the Horizontal Support Resistance Lines Trading robot from the official website. Once downloaded, extract and copy the files to your MetaTrader platform. Navigate to the ‘Navigator’ window, right-click on ‘Expert Advisors’, then select ‘Attach to the chart’. The initialization window will open.
The settings are quite flexible, I have to hand it to the developers there. Pay particular attention to the following parameters:
• MaxBars - maximum limit on the number of bars;
• VisibleLines - visible range of lines based on the history of bars;
• LineWidth - line width;
• LineType - line style.
The tool, when properly configured, should be up and running.
My Experience Using Horizontal Support Resistance Lines
As a professional trader, I've interacted with a fair share of trading robots. I took this one for a spin - and here's my two cents.
The lines the robot draws, supposedly representing support and resistance, appeared more like a scribble to the untrained eye. But believe me, there's a rhyme to the robot's rhythm. The lines, if monitored closely, can help predict price patterns, making for profitable trading opportunities. I've learned to never underestimate any lines on a chart.
Tip: Ensure you test the robot on a demo account before taking it live.
Suggestions for Improvement
Improvement? Bring it on! Perhaps the most glaring one would be incorporating a feature to remove redundant lines automatically. It would also help if the robot could present a real-time analysis of the strength of support and resistance levels.
The Source Code for Horizontal Support Resistance Lines
And here's the twist - we don't have the actual source code for the robot sold on MQL5. However, we have created a code based on the description given on the MQL5 website. If you'd like to take a look at this code, feel free to ask right here in the comments. Bear in mind that this is an example provided by easytradingforum.com, and we don't sell the Horizontal Support Resistance Lines robot. We only offer an interpretation of the code.
Code:
You don't have permission to view the code content. Log in or register now.Download the EASY Trading Team's Version of the Horizontal Support Resistance Lines Trading Robot
Curious about the EASY Trading Team's version of the Horizontal Support Resistance Lines trading robot? Click here to download it.
Remember, this is not the real deal, but an interpretation of the original. If you have burning questions about the code, don't keep them to yourself. We're here to walk you through it. Happy trading!