Introduction
The world of Forex trading is ever-evolving, and with each stride, we witness new tools designed to make our trading journey a little less rugged. One such tool is the Support Resistance Multi Time Frame (SRMTF) trading robot. Despite having a good user rating of 3.75, we must not take things at face value. Let’s delve deeper into this trading robot, dissect it and see what it holds for us.
Functionality of Support Resistance Multi Time Frame
The SRMTF robot is designed to help traders keep track of the support and resistance levels across multiple timeframes. This feature saves traders from having to manually check each timeframe. The drawn levels are notable for their reliability, implying they do not change too frequently. This stability offers a consistent analysis of the market scenario.
Performance Analysis
Simply glancing at user reviews, one would be tempted to believe that the SRMTF robot is a gem. However, to don the robe of a professional trader, one must be ready to question even the most accepted truths. While attributes such as multifaceted support, resistance tracking, and reliable level marking are alluring, one user did point out about the drifting signals which lack reference value. This comes across as a potential red flag in the overall useability of the SRMTF robot.
You'll find detailed statistics regarding the robot’s performance over the past year at https://forexroboteasy.com/trading-robot/support-resistance-multi-time-frame/
Pros and Cons
Like all trading tools, the SRMTF robot has its fair share of strengths and weaknesses.
- Pros:
- It simplifies multi-timeframe analysis.
- The support and resistance levels it marks are known for their stability.
- Cons:
- Some users reported that the indicator's signals can drift.
- Timeframe levels are not labelled, which could cause confusion.
Source Code of Support Resistance Multi Time Frame
Although the original source code of the SRMTF robot sold on MQL5 is not known, the EASY Trading Team can certainly build a similar code based on the robot’s description. If you have queries regarding this code, please feel free to ask on our forum at easytradingforum.com
Code:
You don't have permission to view the code content. Log in or register now.Download Support Resistance Multi Time Frame and Share Your Experiences
Lastly, we highly encourage users to download Support Resistance Multi Time Frame and share your experiences on the forum. Your insights contribute to a diverse knowledge pool and help us all make wiser trading decisions. Remember, the EASY Trading Team is not a reseller of the SRMTF robot. We simply provide a code based on its description and encourage open discussion about its usefulness.
With that said, let's continue trading, questioning, and learning. Happy trading!