Introduction
Legacy of Gann for MT5. A name that resounds with a whisper of historical intrigue and promises of trading profits. Yet, does it truly deliver on its promise, or is it yet another robot in a long line of overhyped trading tools? Let’s unravel the facts and determine the real value of this trading robot.Description of Functions
The Legacy of Gann for MT5 is designed to follow the principles laid down by the legendary trader W.D. Gann, known for his mathematical analysis of market patterns. The robot claims to integrate these historical methods with modern trading strategies. Among its functions, it includes:- Automated trading signals: Generating buy/sell signals based on Gann's theories.
- Risk Management: Continuous adjustment of stop losses and take profits.
- User Customization: Allows for different trading parameters and strategies.
- Backtesting capabilities: Users can test the robot using historical data to optimize performance.
- Continuous updates: Regular updates to ensure the algorithm adapts to changing market conditions.
Analysis of Results
Based on the trading statistics available over the last year, Legacy of Gann for MT5 shows a mixed bag of results. The robot has had periods of substantial growth, interspersed with phases of drawdowns, which, let's face it, isn’t surprising. After all, no trading system is immune to market volatility.The percentage gain is substantial on paper, but the drawdown rates might raise your eyebrows. The profit factor indicates adequate risk-return balance, but with room for improvement. Overall, while the robot shows promise, it isn't a foolproof ticket to riches.
Pros and Cons
Pros:- Customizability: Allows advanced users to tweak the parameters.
- Historical methodology: Incorporates Gann’s time-tested trading principles.
- Comprehensive updates: Regular updates ensure the strategy remains relevant.
- User-friendly: Detailed guides and support, making it accessible for beginners.
Cons:
- Volatile performance: High drawdown periods can be concerning.
- Over-reliance on Gann principles: While historical, Gann’s methods may not always align with modern market dynamics.
- Requires active monitoring: Despite automation, it’s not a ‘set and forget’ solution.
Conclusion
So, does the Legacy of Gann for MT5 stand out in the crowded market of trading robots? Yes and no. It has its merits, particularly for those who appreciate historical trading methods and are willing to endure some volatility. However, it's not devoid of pitfalls.We invite you to discuss your experiences with this robot on our forum, share your results, and help us create a community that thrives on shared knowledge.
Source Code of Legacy of Gann for MT5
Unfortunately, we don't have access to the original source code of Legacy of Gann for MT5. The robot sold on MQL5 is proprietary, and the exact inner workings remain a mystery. However, based on its description from the MQL5 marketplace, it is feasible to create a similar robot. If you encounter any issues with the custom code, feel free to ask questions on our forum.Our team at EASY Trading Team doesn't sell the Legacy of Gann for MT5. We've merely developed a trading robot inspired by its description. Explore, experiment, and let’s decode this trading landscape together.
Code:
You don't have permission to view the code content. Log in or register now.