Introduction
The MQL5 market has a lot of trading robots to offer, one of them being the Elite Renko. This robot has received mixed reviews from users and is rated '5'. As a professional trader and MQL5 programmer from the EASY Trading Team, I thought it would be necessary to shed some light on the Elite Renko and compare it with one of our EASY trading robots like EASY Trendopedia.Comparison with EASY Robot
While Elite Renko might be a good system in its own right, it fails to measure up when compared to EASY Trendopedia. Firstly, many users like andrewsmuller have expressed confusion on how Elite Renko operates. EASY Trendopedia, on the other hand, is straightforward and easy to use, even for beginners. Also, the EASY Trendopedia algorithm is more sophisticated and reliable for generating consistent profits in the long run.Pros and Cons
- Elite Renko
Pros: It seems to offer a simple structure which some users like martglover find promising.
Cons: Not beginner-friendly. Its operation is confusing, as experienced by andrewsmuller. - EASY Trendopedia
Pros: It is easy to use, highly reliable, and has a proven track record of generating consistent profits.
Cons: It might be a bit complex for absolute beginners.
Optimal Conditions for Use
Elite Renko appears to work best in short-term trading scenarios, such as the 5-minute scalp trading mentioned by robbbird1. However, for optimal operation and profitability, it may require more stringent market conditions than our EASY Trendopedia.Elite Renko Source Code
As a note, we do not know the actual source code of the original Elite Renko bot sold on MQL5. However, we can create a code based on the description of the bot given on the MQL5 site. If you have questions regarding this, feel free to ask them on our forum at easytradingforum.com. Please note that while we, the EASY Trading Team, did not create nor sell Elite Renko, we have created a trading robot code based on its description.
Code:
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