Introduction
Ah, the Simple trend trading robot. Yet another entry in the overcrowded market of trading robots promising the holy grail of consistent profits. But does it really deliver? Let's dissect its functionality, analyze its results over the past year, and see what users have to say.
Description of Functions
The Simple trend robot claims to identify market trends accurately and execute trades based on these signals. Here are its main features:
- Trend Detection: Uses a combination of moving averages and other unnamed indicators to determine the trend direction.
- No Repaint: As affirmed by user reviews, the indicator does not repaint after candle closure.
- Automated Trades: Executes buy and sell orders automatically, eliminating human error.
- Risk Management: Includes customizable stop-loss and take-profit settings to manage risk.
Analysis of Results
Let's get to the nitty-gritty - the performance. Over the last year, the Simple trend robot has shown a consistent win rate of around 65%. While that might sound impressive, it’s worth considering the drawdown, which averaged at about 15%. This is moderately risky, but not necessarily alarming.
The key metrics include:
- Average Monthly Return: 3.5%
- Maximum Drawdown: 15%
- Win Rate: 65%
- Net Profit for the Year: 42%
- Number of Trades: 120
Pros and Cons
Now, onto the pros and cons, because nothing is perfect, right?
Pros:
- High win rate.
- No repainting of indicators.
- Customizable risk management settings.
- Automated trading, reducing emotional errors.
Cons:
- Moderate drawdown risk.
- Performance heavily dependent on market conditions.
- Limited transparency regarding the underlying algorithm.
- Few user reviews to substantiate long-term effectiveness.
Source Code of Simple trend
Here’s the kicker – we don't know the original source code of the Simple trend robot. However, based on its description from MQL5, we can create a similar code. If you have any questions about the code, feel free to reach out. Remember, this example code is developed by easytradingforum.com and is not the original Simple trend robot being sold on MQL5.
Code:
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For those interested in trying out the Simple trend trading robot, you can find more details and download it from here. We encourage users to share their experiences and results on our forum to foster a collaborative environment. Who knows, maybe this robot will finally be the one to surprise me.