Introduction
Sure, another breakout strategy robot. This time it's called Panda Fractal Breakout. Let's take a look at what this robot brings to the table, shall we? Spoiler alert: I'm not easily impressed.
Description of Functions
The Panda Fractal Breakout claims to leverage fractal breakouts for identifying trade opportunities. Here's what it supposedly does:
- Detects fractals for identifying potential breakout points.
- Places buy and sell orders based on fractal signals.
- Includes customizable settings for various trading parameters.
- Utilizes stop-loss and take-profit mechanisms to manage risk.
Sounds fancy? Maybe. It certainly isn't the first robot to use fractal breakouts, and I doubt it'll be the last.
Analysis of Results
According to the website https://forexroboteasy.com/trading-robot/panda-fractal-breakout/, the robot has a 5-star rating based on three user reviews. Here's what the users had to say:
- ottovilela: muito bom – Very enlightening.
- MAKARIOS YACOUBIAN: nice indicator, well coded. thanks – At least someone appreciates good coding.
- TatsumiQc: Realy nice, good job – Bravo.
This all sounds positive, but let's get real. Three reviews, albeit positive, hardly count as robust evidence. Where's the long-term statistical data? Where are the equity curves, drawdowns, and consistency metrics over the past year? If I don't see these, I'm inclined to think it's just another overhyped tool.
Pros and Cons
Pros:
- Simple to use for novice traders.
- Customizable settings.
- Positive user reviews, at least from a very small sample size.
Cons:
- Limited user feedback – three reviews don't instill much confidence.
- No detailed statistical data – Show us the numbers!
- Unoriginal strategy – fractal breakouts aren't new.
Source Code of Panda Fractal Breakout
Now, about the source code. The original source code of Panda Fractal Breakout is not available to the public. However, based on the descriptions found on the MQL5 website, we could easily create a similar robot.
If you need an example code or want to discuss the existing one, feel free to ask in our forum at easytradingforum.com.
Code:
You don't have permission to view the code content. Log in or register now.Download Panda Fractal Breakout Trading Robot
Looking to get your hands on the Panda Fractal Breakout? Head over to https://forexroboteasy.com/trading-robot/panda-fractal-breakout/. If you have any questions about the code, feel free to ask them. Note that this is an example code provided by easytradingforum.com, based on the description of the Panda Fractal Breakout sold on MQL5. Our team at EASY Trading Team does not sell the Panda Fractal Breakout but has created a robot code based on its description.