Introduction
Alright, let's dive into the Break Retest EURUSD trading robot. This little gizmo is supposed to make our trading lives easier by automatically executing trades based on breakouts and retests. Given that there are no reviews or ratings yet, we are venturing into somewhat uncharted waters. If you’re feeling daring enough, stick around and consider leaving a review after reading this.
Description of Functions
The Break Retest EURUSD robot is designed to identify breakouts in the EURUSD pair and then trade based on retests of the breakout levels. Here’s a rundown of its key features:
- Automated trading on the EURUSD pair.
- Identifies breakout points and retest levels.
- Executes trades automatically based on predefined criteria.
- Includes adjustable parameters for risk management.
- Works on multiple timeframes.
- Integrated with MetaTrader 5.
To see the robot in action, head over to forexroboteasy.com.
Analysis of Results
Now, on to the juicy part: the performance over the last year. Without hard numbers and user feedback, we have to tread lightly here. According to the data available on the website, the robot has been relatively stable, but, as you know, a single year of data is hardly convincing.
Statistics show a decent win rate, but the drawdown is something you might want to keep an eye on. Remember, past performance is not indicative of future results. The lack of extensive backtesting makes us raise an eyebrow.
Pros and Cons
Let’s break it down:
Pros:
- Automates trading, reducing the need for constant monitoring.
- Adjustable risk management settings.
- Multi-timeframe functionality.
- Can potentially identify profitable breakout and retest scenarios.
Cons:
- Limited performance data available.
- No user reviews or ratings to validate effectiveness.
- Potential for significant drawdowns.
- Lack of extensive backtesting and validation.
Conclusion
The Break Retest EURUSD robot offers some interesting features and a simple approach to trading breakouts and retests. However, the lack of user reviews, ratings, and comprehensive backtesting data makes it a bit of a gamble. If you're brave enough, give it a go and make sure to share your experiences. We strongly encourage you to discuss this robot on the forum and share your trading results.
Source Code of Break Retest EURUSD
We don't have the original source code for the Break Retest EURUSD robot sold on MQL5. However, we can create a code based on the description available on the MQL5 marketplace. If you're interested in such an endeavor, let us know. Keep in mind, this is merely a reconstruction and not the original code.
Code:
You don't have permission to view the code content. Log in or register now.Download Break Retest EURUSD and Share Your Feedback
Ready to take the plunge? Download Break Retest EURUSD and let us know how it performs. If you have questions about the code, feel free to ask. Remember, this is a sample code created by easytradingforum.com, based on the description of the robot sold on MQL5. The EASY Trading Team is not selling the Break Retest EURUSD robot; we've only crafted a code inspired by its description. Share your experience and join the discussion!