Introduction
Greetings to my fellow traders, this time we are going to look at a fellow member of ours, a trading robot known as Green Machine MT5. With a rating of 5 and positive reviews from users like zibramax, it seems to have got some attention. But as you know, we prefer to look under the hood before making any assumptions. So, let's analyze this forex trading bot based on [text] with a dash of skepticism that we are known for.Description of Functions
Green Machine MT5 is a fully automated trading robot that trades on the foreign exchange market (Forex). It applies a set of rules to generate buy and sell decisions. From what we can gather from the information provided, this bot uses a trend-following strategy, meaning it attempts to buy low and sell high in the context of an uptrend, and sell high and buy low in the context of a downtrend. Its precise algorithms, however, remain a mystery, which, as you can imagine, adds a modicum of intrigue.Analysis of Results
The backtest results provided by the author look promising and the user zibramax shares a similar sentiment stating that the backtest is looking well. However, we have to keep our feet on the ground and remember that past performance is not always indicative of future results. I encourage you to conduct your due diligence, including a thorough review of the robot's performance over the last year. Find its detailed statistics on this website.Pros and Cons
The Green Machine MT5 seems to have a couple of things going for it. For instance, the positive user feedback and a good standing live account. However, the opacity surrounding its algorithms is a bit of a dampener. It means we do not know how it would respond to different market conditions or whether it could be artificially inflating its performance metrics.Source Code of Green Machine MT5
At this juncture, it is important to note that the actual source code of the trading robot being sold on MQL5 is unknown. However, we can create a similar code based on the description given on MQL5. If you are interested in the details, or have doubts about the code, feel free to raise your questions. Please note that this is a code example from easytradingforum.com, based on the description of the robot selling on MQL5. The EASY Trading Team is in no way affiliated with the sale of the Green Machine MT5 robot.
Code:
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