Introduction
If you've been in the trading game for a while, you've probably heard about the MA Speedometer MT5 trading robot. This is not your typical bullish end all your trading woes kind of bot. It's a slightly different approach to trading, as user DownTheRabbitHole pointed out. And why not, trading is not an area that thrives on monotony. Let's take a sober, step-by-step guide through this trading game changer, shall we?Installation and Setup
First, you need to get the robot. You can download it from the MQL5 marketplace or get our version based on its description, which we've written the code for.After downloading the EA file, upload it to your MT5 trading platform. Here's how:
- Open your MT5 platform
- Click on File and navigate to Open Data Folder
- In the opened window, navigate to MQL5 -> Experts
- Paste the downloaded .ex5 file into this folder
- Close and reopen your MT5 platform
Once the bot is uploaded, attach it to the required charts and adjust the settings per your trading strategy and risk appetite. Remember, even with a robot, discretion is advised.
Experience Using the Robot
tradermrchagas and Jptrading seem to have had a smooth ride with the MA Speedometer MT5. The latter even goes as far as to call it one of the top 2 indicators out there. Pardon me while I suppress a smirk.Yes, the bot does well in taking bearings from the market's speed and direction, using this information to decide when to trade. Steady as she goes, traders.
Tips for Improvement
Just like a car's speedometer, the MA Speedometer MT5 robot is only as good as the driver behind the wheel. It's not a plug-and-play tool; you'll need to tweak and tune it. Experiment with different inputs and configurations, backtest those settings and ensure they suit your trading style. Remember, there’s nothing like the perfect strategy or risk-free trading.The Source Code of MA Speedometer MT5
No, we don't have access to the original source code of MA Speedometer MT5. What we have is based on the description from the MQL5 site. And given our trading and coding prowess, I dare say it's quite accurate. Questions about the code are welcome. Just remember we're not selling the robot, we're discussing it.
Code:
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