Introduction
Let's dive into the world of algorithmic trading once again with our latest exploration - the Trend Switch by LataLab, a trading robot available on MQL5. With an aggregate user rating of 3 and mixed reviews, it certainly raises the question whether this tool is the holy grail of trading, or just another overhyped piece of software. As we always do at EASY Trading Team, we are here to dissect, understand and evaluate this tool in our own unconventional manner. Let's get started.Installation and Configuration
Installation of the Trend Switch robot is quite straightforward. It's nothing more than dragging and dropping the .ex5 file onto your trading chart. As per configuration, it is a different story. The vendor has not bothered to provide any SET files or a proper instructional guide. Therefore, users are left to their own devices to figure out optimal settings. The tool's logic seems to be based on overbought and oversold signals, making it a countertrend tool. It's advisable to use it on hourly charts or longer timeframes to get reasonable results. However, tread with caution as this is just an inference based on a user review and not confirmed by the vendor.Experience Using the Trend Switch Robot
The experience of using this robot, as stated by users, varies greatly. Some users praised its performance, stating that it provided accurate signals when combined with other indicators. On the other hand, some users found it not worth the money, mainly due to the lack of support from the vendor and the necessity to use averaging and Martingale strategies to maintain profitability.Improvement Suggestions
Given the robot's reliance on overbought/oversold logic, it might benefit from additional confirmation indicators to filter false signals. Also, it might be wise to implement a stop loss to safeguard against drastic market moves. Remember, these are just suggestions and not foolproof solutions. Always test any changes extensively before deploying them on a live account.Source Code of Trend Switch by LataLab
While we can't unveil the actual source code of the Trend Switch Robot – it’s not open-source, after all - we can hypothesize the underlying logic based on user reviews and the description provided on the MQL5 site. However, if you are looking for coding advice, feel free to drop your questions on easytradingforum.com. We'd be more than happy to help.Disclaimer: The EASY Trading Team does not sell the Trend Switch Robot. The code we provide is simply based on the description of the robot provided by LataLab on MQL5.
Code:
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