Introduction
Well, well, well, another day, another trading bot to review. Today on the table we have the so-called Support and Resistance Auto. I can't help but smirk at the audacity of these trading bot names, but let's not judge a book by its cover.
Description of Functions
Support and Resistance Auto, as the name suggests, is a trading bot that is designed to exploit the notable concepts of support and resistance in forex trading. The system uses these principles to identify trend reversals and capitalize on them.
The bot is supposed to indicate trend lines and plot horizontal lines based on support and resistance levels. It also claims to execute trades automatically for you, based on the identified trends.
However, it’s worth mentioning that this bot has no reviews and no ratings, which could mean it’s relatively new, or simply that no one has taken their time to either praise or criticize it.
Analysis of Results
Given that there are no reviews or ratings, the analysis of results is at best speculative. The official website here provides some stats and numbers but we all know that the proof of the pudding is in the eating. If you’ve used this bot and have some results to show, feel free to share it.
Pros and Cons
On the brighter side, the concept of trading using support and resistance is time-tested and effective. So, it's plausible that this bot could have some merit. But remember, it’s still a bot, and I've yet to find a bot that can beat a seasoned trader.
On the downside, the lack of reviews and ratings is a red flag. It smacks of unproven promises and potential disappointment.
Source Code of Support and Resistance Auto
Unfortunately, we do not have the actual source code of the bot. However, based on its description from MQL5 where it is sold, we can provide a sample code.
But remember, this is not the actual proprietary code of the bot. It's just a modified version by the EASY Trading Team, only meant to give you a rough idea of how the bot could have been programmed.
Code:
You don't have permission to view the code content. Log in or register now.Download Support and Resistance Auto: Share and Discuss Results
You are encouraged to download the Support and Resistance Auto, test it, and share your results. If you have questions or require clarification about the sample code, go ahead and ask.
Remember, this is a community, and the more we share, the more we grow. However, do note that the EASY Trading Team does not sell the actual bot. We simply provided a sample code based on its description. The authentic bot is marketed on MQL5.
So, here we are, another bot dissected and laid bare. Let the testing, sharing, and discussing begin. As they say, the devil is in the details. And in trading, it’s always the details that make or break the deal.
Until next time, keep your trades tight and your profits high.