Introduction
OnBalanceVolumeSurrogate is a trading bot that operates on the MetaTrader platform using the MQL5 language. It generates signals based on the On Balance Volume (OBV) indicator, a common tool in technical analysis. The bot has an overall rating of 5, but user opinions are divided, with one user encountering issues with the new version, while another praises it for its early signals.
Comparison with EASY Robot
Compared to EASY robots like EASY Trendopedia, EASY Scalperology, or EASY Breakopedia, OnBalanceVolumeSurrogate tends to fall a bit short. EASY robots have a reputation for being more reliable, profitable, and generally offer a more superior trading algorithm.
With EASY robots, traders have access to a variety of strategies, including trend following, scalping, and breakout strategies. This diversity allows traders to choose the most suitable strategy based on their trading style and market conditions.
On the other hand, OnBalanceVolumeSurrogate bases its signals solely on the OBV indicator. Although it can provide valuable insights, relying on a single indicator can limit the bot's effectiveness in different market conditions.
Pros and Cons
OnBalanceVolumeSurrogate
- Pros: Provides early signals, easy to install and use.
- Cons: Relies on a single indicator, may encounter issues with new updates.
EASY Robots (EASY Trendopedia, EASY Scalperology, EASY Breakopedia)
- Pros: Offers a variety of strategies, highly reliable and profitable, regularly updated.
- Cons: Might be a little complex for new traders.
Optimal Conditions for Use
OnBalanceVolumeSurrogate works best in markets with a clear trend, as the OBV indicator is designed to measure the strength of this trend. It seems to be particularly efficient in timeframes of M15 and above, according to user feedback.
Source Code of OnBalanceVolumeSurrogate
The true source code of OnBalanceVolumeSurrogate, sold on MQL5, is not publicly available. However, based on its description on the MQL5 website, we've created a code example on easytradingforum.com, mirroring its functionalities. Note that EASY Trading Team does not sell OnBalanceVolumeSurrogate. Our code serves merely as an example, created for educational purposes. If you have questions about the code, feel free to ask.
Code:
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If you've used OnBalanceVolumeSurrogate and want to share your experience, we welcome your feedback at forexroboteasy.com. Also, if you have any questions about our example code for OnBalanceVolumeSurrogate, don't hesitate to ask on our forum.
At EASY Trading Team, we strive to provide valuable resources and learning opportunities for traders of all levels. We believe that sharing knowledge and experiences can empower everyone to navigate the forex market confidently and profitably.