Babel Steps

Automated trading has garnered considerable attention in the currency market. Among the numerous forex robots that have come to the fore, Babel Steps has carved a niche for itself, thanks to its innovative approach to trend strength analysis.

Forex Robot Reviews: Babel Steps Analysis

The Babel Steps robot operates on the MT5 netting platform. The innovative program uses the ZigZag indicator to generate Fibonacci levels on M1, M5, M15, H1, H4, D1, W1 periods of the charts. The forex robot then calculates the strength of trends for buying and selling. It opens a position when the specified trend level is exceeded.

Adding to its robust functionality, Babel Steps also incorporates Bollinger indicators and Stochastic indicators. These tools provide valuable insights about oversold or overbought market conditions, informing the robot when to increase or decrease the position. If the market moves in the desired direction, the robot generates a Trailing Stop level. Upon reaching a target profit in USD or triggering the Trailing Stop level, the robot closes the position.

Interactive Features of Babel Steps

Babel Steps offers a visual display of the ongoing results of work on the position, deals, and trends. This feature serves as an effective aid for manual trading. Furthermore, Babel Steps EA has two stacks that remember market levels when the position was increased manually. The first of them keeps 0.01 lots levels, and the second maintains 0.02 and larger lots levels. Users can view the first two levels from each of the stacks on the screen.

Compatibility and Usage Precautions

To ensure seamless functionality, Babel Steps requires an MT5 netting account. This must be confirmed with your broker company, as the robot does not function correctly with MT4 or “hedging” accounts. It is also recommended to use a DEMO account before transitioning to a real one.

Parameters of Babel Steps Robot

The performance and operation of Babel Steps can be customized according to various parameters. These include the lot for opening a position, target profit in USD, and modes for buy, sell, position increase and decrease, and Trailing Stop. Additionally, the robot allows users to set the maximum percent of deposit drawdown and maximum deposit drawdown in USD for closing the position with loss.

FAQ

Can Babel Steps Robot be used with MT4?

No, the Babel Steps robot is designed specifically for MT5 netting accounts and may not work correctly with MT4 or “hedging” accounts.

How can I test the Babel Steps Robot?

Users are recommended to test the product using a DEMO account before transitioning to a real one. Independent testing of this product can also be viewed on the forexroboteasy.com website.

Can I subscribe to updates on the testing results of this product?

Yes, you can subscribe to updates on the results of testing this product on the forexroboteasy.com website.

Experience Sharing and User Participation

We invite readers to share their experiences of using Babel Steps. Your insights could help others in the financial technology community to make informed decisions about automated trading tools.

Remember, this is an independent product review. The information provided is based solely on educational or informational purposes. The use of Babel Steps – a program for automatically making transactions on the Forex market, entails the risk of not achieving the expected profit, as well as the risk of a complete loss of all invested funds. Past performance, including testing and optimization results, does not guarantee similar outcomes in the future.