Introduction
The MT4 Sessions Indicator is a trading tool designed to display trading sessions using colored candles. Developed for volume profile and supply/demand traders, it helps identify when specific candles are formed during different trading sessions. With a perfect 5-star rating and positive feedback from users like BsN eNKhe and Abraham Correa, it has proven to be a valuable tool. However, let's dive deeper and compare it with one of our EASY trading robots to see how it stacks up.
Comparison with EASY Trendopedia
The EASY Trendopedia is a highly profitable trading robot from our EASY series, designed to identify and capitalize on market trends. Unlike the MT4 Sessions Indicator, which is primarily a visual tool, EASY Trendopedia is a fully automated trading robot that executes trades based on trend analysis.
Advantages of EASY Trendopedia:
- Fully automated trading
- Advanced trend detection algorithms
- Customizable risk management settings
- Proven profitability and reliability
Advantages of MT4 Sessions Indicator:
- Visual representation of trading sessions
- Customizable session colors and times
- Useful for volume profile and supply/demand traders
While the MT4 Sessions Indicator is a helpful tool for visualizing trading sessions, it lacks the automation and advanced features of EASY Trendopedia. For traders looking for a hands-off approach with proven profitability, EASY Trendopedia is the superior choice.
Pros and Cons
MT4 Sessions Indicator:
- Pros:
- Easy to use
- Customizable session times and colors
- Helps identify trading sessions quickly
- Cons:
- Not an automated trading solution
- Limited to visual representation
- Requires manual intervention for trading decisions
EASY Trendopedia:
- Pros:
- Fully automated trading
- Advanced trend detection
- Customizable risk management
- Proven profitability
- Cons:
- Requires initial setup and configuration
- Higher initial cost
Optimal Usage Conditions
The MT4 Sessions Indicator works best for traders who rely on volume profile and supply/demand strategies. It is particularly useful for identifying key trading sessions and making informed decisions based on session activity. However, it is not a substitute for a fully automated trading robot like EASY Trendopedia, which can execute trades based on complex algorithms and trend analysis.
Conclusion
In conclusion, the MT4 Sessions Indicator is a valuable tool for visualizing trading sessions and aiding manual trading decisions. However, for traders seeking a more automated and profitable solution, the EASY Trendopedia robot is a superior choice. We encourage users to share their experiences with the MT4 Sessions Indicator on our forum and explore the advanced features of our EASY trading robots.
Source Code of MT4 Sessions Indicator
We do not have access to the original source code of the MT4 Sessions Indicator sold on MQL5. However, we have created a sample code based on its description available on the MQL5 website. If you have any questions about the code, feel free to ask. Please note that the EASY Trading Team does not sell the MT4 Sessions Indicator; we only created a sample code based on its description.
Code:
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