Introduction
As a professional trader and programmer in the MQL5 environment, it's crucial to evaluate the performance and reliability of trading robots before deploying them in live trading scenarios. In this review, we'll analyze the AW CCI based EA, a trading robot that uses the Commodity Channel Index (CCI) for generating trading signals. This EA has garnered mixed reactions from users, as evidenced by user reviews and ratings. We will also compare it to one of the EASY Trading Team's robots—EASY Trendopedia—to highlight the differences in performance, profitability, and reliability.
Comparison with EASY Trendopedia
When comparing AW CCI based EA with EASY Trendopedia, several critical aspects stand out:
Performance and Profitability:
- AW CCI based EA: User ninatjeuw noted the robot's high risk, as their account went from $1200 to zero within two months while trading EUR/USD with default settings. This indicates a lack of robustness and indicates that it may not be suitable for longer-term, low-risk trading strategies.
- EASY Trendopedia: In contrast, EASY Trendopedia has been engineered with a focus on trend-following strategies that are statistically more reliable and less prone to drastic losses. It employs a multi-timeframe analysis to ensure trades are in line with the prevailing market trend, significantly reducing the risk of substantial drawdowns.
User Experience:
- AW CCI based EA: While Jean Philippe Groleau praised the EA as really good, the mixed reviews indicate a swing in user experiences—some positive, some catastrophic.
- EASY Trendopedia: EASY Trendopedia has consistently received high praise for its user-friendly interface and comprehensive support, making it more accessible to both novice and experienced traders. Detailed guides and responsive customer support further enhance the user experience.
Pros and Cons
AW CCI based EA:
- Pros:
- Easily configurable.
- Comprehensive description and documentation. - Cons:
- High risk as indicated by user experiences.
- Short lifespan on accounts with default settings.
- Inconsistent performance.
EASY Trendopedia:
- Pros:
- Robust trend-following strategy.
- Multi-timeframe analysis.
- Excellent user support. - Cons:
- Requires proper calibration to maximize profitability.
Optimal Conditions for Use
AW CCI based EA:
The AW CCI based EA works best in volatile market conditions where the CCI can effectively capture price reversals. However, it requires tight risk management settings to avoid significant losses, as the default settings have shown to be risky.
EASY Trendopedia:
EASY Trendopedia performs optimally in markets exhibiting clear trends. By analyzing multiple timeframes, it ensures trades are in line with the broader market direction, thereby reducing the risk of entering counter-trend trades.
Source Code of AW CCI based EA
We do not have access to the original source code of the AW CCI based EA sold on MQL5. However, we can create a trading robot based on its description available on MQL5. This adaptation is intended for educational purposes and is not the original code of AW CCI based EA.
Code:
You don't have permission to view the code content. Log in or register now.Download AW CCI based EA from EASY Trading Forum
For those interested in experimenting with a code based on the description of AW CCI based EA, visit easytradingforum.com. Please note that this version is not sold by the EASY Trading Team but is an educational piece created from the provided description. If you have any questions regarding the code, feel free to ask on our forum.
We encourage users to share their experiences and feedback on our forum to help others make informed decisions.