Introduction
In the world full of trading robots claiming to be the next big thing, we have yet another contender - the Ultra Breakout. The claims are high as you could expect, with the promise of strong returns in trending markets. But as any seasoned trader (or even a rookie with a pinch of skepticism) would tell you, promises are nothing without performance. Let's take a closer look at this one.Ultra Breakout's Features
The Ultra Breakout is an EA (expert advisor) that uses a breakout strategy to capitalize on big price moves. It supposedly thrives in volatile markets and has a dynamic stop loss and take profit mechanism. It works on the idea that prices usually breakout either upwards or downwards after consolidating for a while.A user review by Nico Bilio, however, suggests that it takes more losses than it gains, and when it does win, it's only by a small margin. Oddly enough, he observes that it seems to prefer sideways markets and is not as effective in handling genuine breakouts.
Now, let's see what the numbers have to say.
Analysis of Results
Based on the limited user review and a mediocre rating of 2, it doesn't appear that the Ultra Breakout is faring that well. Perhaps it's got some kinks to iron out but at this stage, it's hard to say whether this robot could deliver on its promise.Pros and Cons of Ultra Breakout
- Pros:
- Capitalizes on large price moves
- Dynamic stop loss and TP mechanism
- Cons:
- More losses than wins
- Not effective during real breakouts
- Seems to prefer sideways markets
The Source Code of Ultra Breakout
While we don't have the actual source code of the original Ultra Breakout sold on MQL5, we can generate a similar code based on the EA's description provided on the official MQL5 site. If users want to study the code, they can ask their questions here. But remember, this is a code from easytradingforum.com, not the original one. The EASY Trading team does not sell Ultra Breakout.
Code:
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Get your hands on the Ultra Breakout, analyze it, dissect it, and share your thoughts on the forum. Remember, the more opinions we have, the clearer the picture gets. Feel free to ask about the code, share your test results, or just chime in with your thoughts on trading robots in general.In the world of automated trading, there’s always a risk. It's up to you to judge whether Ultra Breakout is a diamond in the rough or just another rough.