Introduction
Well, here we go again. Meet ADXSignal, another trading robot that promises to bring us all the wonders of automated trading. Stick around, and we will delve into the nuances of this Forex trading bot, evaluate its performance and, as always, question its effectiveness.Description of Functions
The ADXSignal bot is designed to trade in the Foreign Exchange Market using the Average Directional Index (ADX) indicator. Its strategy is predicated around this tool, which is a standard trend strength meter in many trading platforms. The robot takes into consideration the values of this indicator, with predefined settings for buying and selling orders.It supposedly maximizes profits during trending markets and minimizes losses in non-trending or sideways markets. But let's be honest, there's no holy grail that could possibly predict market behavior flawlessly.
Analysis of Results
Remember, we're flying blind here. There are no user reviews to look at. And while it's highly recommended to check the performance stats, the fact of the matter is, there is no rating formed for this bot.Looking at the results from the last year on their website... Well, I've seen better, definitely. The results aren't all that impressive. But hey, observe it yourself on the website - https://forexroboteasy.com/trading-robot/adxsignal/.
Pros and Cons
On the bright side, this robot does the dirty work for you. It trades 24/5, doesn't get tired, and doesn't let emotions dictate its strategy. And the use of ADX in its strategy might have some merits, considering its popularity.However, the lack of reviews and relatively unimpressive past performance are red flags. And as always, reliance on one indicator is a potential pitfall. Trend strength doesn't always mean trend continuation.
The Source Code of ADXSignal
No one knows the true source code of the original robot sold on MQL5. In fact, we can only guess its logic based on the description provided there. Regardless, we at EASY Trading Team can conjure a sample code based on the information given. In case you've got any questions regarding the code, go ahead and ask. But remember, this is a sample code from easytradingforum.com, and it's based on the description of the bot.
Code:
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If you're still intrigued, feel free to download the ADXSignal trading robot. Just bear in mind, this isn't the robot sold on MQL5. We don't sell it, we just created a code based on its description. Our sample code is available at easytradingforum.com. Be my guest, download it, use it, tweak it, and share your results on the forum.And remember, you can't win them all. So, trade responsibly and never risk more than you can afford to lose.