Introduction
Allow me to cut through the fanfare and introduce you to the Range Breakout X2 trading robot. This software, built on the MQL5 programming language, is a product of countless late-night coffee sessions and engineered to make your trading life a tad bit easier. Endowed with a knack for finding breakouts in the trading range, this expert advisor, on the face of it, seems like a promising algorithm. But then again, there's a thin line between a promising script and a successful implementation. And that's what we are going to find out today.Installation and Settings
The installation of Range Breakout X2 is a no-brainer. Download the EA, copy it to your MT5 platform's directory under MQL5/Experts, and refresh your Expert Advisors list. Straightforward, right?However, where the real fun begins is at the settings. Though some users like markus0202 and angelocaccuri are raving about its results, others like waldirsp11 have concerns over the seemingly rigid SL/TP values. My advice - take the default settings with a grain of salt. The robot's effectiveness will largely depend on the chosen settings which may require some tweaking around based on the prevailing market conditions.
Experience Using the Robot
Suggesting that the Range Breakout X2 ticks all the boxes would be a stretch. However, it seems to hold its own in live trading conditions. It's been interesting watching it employ a strict loss limitation strategy while pursuing good returns. However, the robot's fixation on maintaining a large stop loss (SL) and small take profit (TP) is a bone of contention. It might be a good idea to have a customizable SL/TP option for users.Tips for Improvement
The Range Breakout X2 robot, despite its reasonable level of competence, could do with a few improvements. A flexible SL/TP setting option would be a welcome feature. A higher frequency of updates to adjust to evolving market conditions would also be beneficial. It would also be helpful if users could manually adjust the trading hours depending on their strategies.The Source Code of Range Breakout X2
I hate to break your bubble, but the original source code of the Range Breakout X2 EA sold on MQL5 isn't available for public viewing. However, we can generate a code based on the description given on the MQL5 website. Keep in mind though, it's only an imitation of the original robot. If you have coding questions, feel free to ask. Do note that this code is made available by the easytradingforum.com based on the robot's MQL5 description.
Code:
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To download the Range Breakout X2 robot, please visit the official website. Please remember, the EASY Trading Team doesn't sell the Range Breakout X2. We only provide a code based on the robot's description.In the world of trading, there are no guarantees. While the Range Breakout X2 might appeal to some traders, others might have a different opinion. It all boils down to your trading goals, risk appetite, and personal experience.
Invest wisely!