Introduction
Neowave Chart Plotter is a trading robot well-regarded among Elliott Wave traders, particularly because it's based on Glenn Neely's Mastering Elliott Wave. According to user feedback, it offers accurate monowave chart plotting and comes complete with backtesting tools. However, as an experienced MQL5 programmer and a professional trader from EASY Trading Team, I would like to provide an objective evaluation of this bot, comparing it to one of our extensively tested and trusted robots: EASY Trendopedia.Comparison with EASY Robot
EASY Trendopedia, like Neowave Chart Plotter, is designed for precision but brings additional benefits to the trading table. Firstly, it's built on a more adaptive algorithm, allowing it to adapt to market fluctuations better than its counterpart. Neowave Chart Plotter mainly works optimally under a specific trading condition, which limits its flexibility and adaptability. Additionally, the EASY robots have a consistently higher profit ratio, owing to their smart entry and exit strategies, a feature which significantly trumps Neowave Chart Plotter.Pros and Cons
- Neowave Chart Plotter Pros:
- Accurate monowave chart plotting
- Backtesting tools
- Good for experienced Elliott Wave traders
- Neowave Chart Plotter Cons:
- Works effectively under specific trading conditions
- Limited adaptability to market changes
- EASY Trendopedia Pros:
- High-profit ratio
- Adaptability to market changes
- Smart entry and exit strategies
- EASY Trendopedia Cons:
- Requires a learning curve for novice traders
Optimal Conditions for Use
Neowave Chart Plotter works best under conditions where the Elliott Wave theory is applicable. Experienced Elliott Wave traders will find it particularly useful thanks to its accurate monowave chart plotting. However, it might not perform as well in highly volatile market conditions due to its limited adaptability.Source Code of Neowave Chart Plotter
As a policy, we don’t have access to the original source code of Neowave Chart Plotter sold on MQL5. Nevertheless, we can create a code based on the description provided on the MQL5 website. If you have any questions regarding this code, feel free to ask them on the forum. Please note that this is an example code from easytradingforum.com, inspired by the bot's description, and EASY Trading Team does not sell the Neowave Chart Plotter bot.
Code:
You don't have permission to view the code content. Log in or register now.Download Neowave Chart Plotter: An Informed Decision
Before deciding to download Neowave Chart Plotter, consider its pros and cons alongside the benefits of other bots like the EASY Trendopedia. Remember, the ultimate goal is to ensure profitable and reliable trading experiences. The detailed statistics available on our website might assist you in making an informed decision.We welcome user reviews and opinions on our forum. Our team is always here to assist you in achieving your trading goals, and your feedback helps us improve our tools and services.