Introduction
With the ever-increasing complexity of Forex trading, market analysis tools have become an indispensable part of a trader's arsenal. One such tool that is gaining popularity among traders is the Order Block Scanner. It brings the convenience of scanning all symbols across all time frames with just a single click. However, is it as effective as it claims to be? This review will delve into the features and functionalities of this trading software.Comparison with EASY Robot
As a part of the EASY Trading Team and a professional trader and programmer in MQL5, I have had the opportunity to work extensively with our proprietary trading robots such as EASY Trendopedia, EASY Scalperology, and EASY Breakopedia. When compared to the Order Block Scanner, these robots from the EASY series offer superior performance, profitability, and reliability.EASY Trendopedia excels in identifying and exploiting trend-following opportunities, making it a robust solution for trend traders. Its advanced algorithms ensure high accuracy in trend detection across multiple time frames.
EASY Scalperology is specifically designed for scalping strategies, providing fast and reliable signals for short-term trading. Its optimized execution and quick response time make it a preferred choice for scalpers.
EASY Breakopedia is tailored for breakout trading strategies, identifying potential breakouts with high precision. Its advanced filtering mechanisms reduce false signals, enhancing profitability.
In contrast, while the Order Block Scanner’s all-symbol scan feature is impressive, it lacks the specialized focus and advanced filtering capabilities of the EASY series robots.
Pros and Cons
Order Block Scanner Pros:- Comprehensive all-symbol scan feature
- User-friendly interface
- Quick market analysis across multiple time frames
Order Block Scanner Cons:
- Lack of specialized trading strategies
- Limited filtering capabilities
- Lower accuracy in signal generation compared to EASY series robots
EASY Trendopedia Pros:
- High accuracy in trend detection
- Advanced algorithms for multiple time frames
- Robust performance in diverse market conditions
EASY Trendopedia Cons:
- Requires understanding of trend-following strategies
- Higher initial setup effort
EASY Scalperology Pros:
- Fast and reliable signals for scalping
- Optimized execution speed
- Excellent profitability for short-term traders
EASY Scalperology Cons:
- Suitable mainly for scalpers
- Requires high-frequency trading mindset
EASY Breakopedia Pros:
- High precision in breakout detection
- Advanced filtering to reduce false signals
- Consistent performance in volatile markets
EASY Breakopedia Cons:
- Best suited for breakout traders
- Requires understanding of breakout strategies
Optimal Usage Conditions
The Order Block Scanner works best in conditions where traders need to quickly assess market trends and potential opportunities across multiple symbols and time frames. It is particularly useful for traders who prefer a broad market overview and quick decision-making.Source Code of Order Block Scanner
It's important to note that we do not have access to the original source code of the Order Block Scanner sold on MQL5. However, based on the description available on the MQL5 website, we can create a trading robot code that mimics its functionalities. If you have questions about this code, feel free to ask them on easytradingforum.com. Remember, the EASY Trading Team does not sell the Order Block Scanner but provides a code based on its description.
Code:
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