Introduction
Ah, the endless quest for the perfect trading robot. Meet the PR Support And Resistance for MT5. This trading robot promises to do all the heavy lifting for you by analyzing support and resistance levels. Judging by user reviews, some are impressed, while others are... well, not so much (Hey, Diego). Let's dig into how to install and set up this bot, and whether it actually delivers on its promises.
Installation and Setup
Let's get down to business. Here's how you can install and configure the PR Support And Resistance for MT5:
- Download the Robot: Head to ForexRobotEasy and get your copy.
- Install on MT5: Open MetaTrader 5, go to File > Open Data Folder > MQL5 > Experts, and drop the downloaded file there.
- Attach to Chart: Restart MT5, and under Navigator > Expert Advisors, you should see your robot. Drag and drop it onto your preferred trading pair chart.
- Configure Settings: Once the EA is on your chart, tweak the input settings per your strategy. Default settings include parameters for support and resistance levels, time frames, and risk management.
- Enable Automated Trading: Make sure the AutoTrading button on the toolbar is enabled.
User Experience
Based on user reviews, the experience is a mixed bag. Users like and find it promising, despite being early days. On the other hand, Diego wasn't too thrilled and encountered some errors. As for me, I'd say it's about as good as most other bots—useful but not a golden ticket.
Tips for Improvement
If you want to get the most out of the PR Support And Resistance for MT5, consider the following tips:
- Regular Updates: Keep an eye out for updates. Developers often fix bugs and improve functionality.
- Backtesting: Always backtest the robot on historical data. This will give you an idea of its performance before going live.
- Manual Oversight: Don't just set it and forget it. Regularly monitor its trades and intervene if necessary.
- Custom Settings: Tailor the settings to match your trading behavior. The default may not be optimum for everyone.
Source Code for PR Support And Resistance for MT5
We don't have the original source code for the PR Support And Resistance for MT5 that is sold on MQL5, but we can create a similar code based on its description from the MQL5 marketplace. This is useful for those who wish to understand the logic behind it or customize it further.
Code:
You don't have permission to view the code content. Log in or register now.Download PR Support And Resistance for MT5 - EASY Trading Team Version
If you have any questions about the code or need assistance, feel free to ask. Remember, EASY Trading Team does not sell the original PR Support And Resistance for MT5. Our version is based on the description available on MQL5.
For more nuanced advice or personalized scripts, visit easytradingforum.com. Happy trading!