Introduction
Universal Breakout MT5 is a trading robot available on the MQL5 marketplace, garnering a mixed response from its user base. With a rating of 4.36, this expert advisor (EA) has evoked a spectrum of reviews, ranging from praise for its optimization potential to criticism for its performance on demo accounts. In this review, we will objectively evaluate Universal Breakout MT5 and compare it with one of our own EAs from the EASY series, specifically the EASY Breakopedia.
Comparison with EASY Breakopedia
*Universal Breakout MT5* boasts a breakout strategy designed to identify and trade on breakouts, with users reporting varying degrees of success after extensive optimization. According to user feedback, it offers promising profitability (up to 80% profit with 20% drawdown) when properly optimized.
On the other hand, *EASY Breakopedia* from the EASY Trading Team leverages a multifaceted algorithm combining breakout and trend-following strategies ensuring higher adaptability to market conditions. Our in-depth backtesting reveals consistent returns with relatively lower drawdown. EASY Breakopedia also includes advanced features such as customizable risk management settings, multi-timeframe analysis, and a comprehensive user guide.
**Why EASY Breakopedia is Better:**
- Profitability and Reliability: EASY Breakopedia has been proven to deliver consistent returns with lower risk, thanks to its dual strategy approach.
- User Guidance: We offer detailed user manuals and support for EASY Breakopedia, ensuring even novice traders can effectively utilize the EA.
- Advanced Features: EASY Breakopedia includes more customization options compared to Universal Breakout MT5, allowing users to tailor the robot to their specific trading style.
Pros and Cons
*Universal Breakout MT5:*
- Pros:
- High profit potential with proper optimization.
- Free of charge.
- Simple breakout strategy easy for users to understand.
- Cons:
- Inconsistent performance on demo accounts, as noted by some users.
- Lack of detailed user instructions.
- Limited customization options for more advanced trading strategies.
*EASY Breakopedia:*
- Pros:
- Proven consistency and reliability in various market conditions.
- Comprehensive customization options.
- Detailed user guide and dedicated support.
- Cons:
- Slightly higher complexity due to advanced features.
- Not free, although the investment is justified by enhanced performance.
Optimal Conditions for Using Universal Breakout MT5
Universal Breakout MT5 performs best in volatile market conditions where significant price movements are common. The breakout strategy is designed to capitalize on these sharp price changes, making it suitable for markets with high news impact or during major economic events. However, the robot's performance may dwindle in ranging or low-volatility markets.
Conclusion
While Universal Breakout MT5 offers potential, particularly for traders willing to invest time in optimizing it, the EASY Breakopedia clearly stands out as a more robust and user-friendly option. Its dual strategy, comprehensive features, and detailed support make it a more reliable choice for traders seeking consistent returns with manageable risk.
Universal Breakout MT5 Source Code
It's important to note that the source code of the Universal Breakout MT5 robot sold on MQL5 is not publicly available. However, based on the description and functionality detailed on the MQL5 website, our team at EASY Trading Team has created an example code that imitates the behavior of Universal Breakout MT5. We invite users to review and discuss this example code on our forum.
Code:
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If you have any questions or need further assistance with the example code, please feel free to reach out on the forum. Remember, this example is based on the description of the Universal Breakout MT5 robot and not the actual code being sold on MQL5. The EASY Trading Team does not sell Universal Breakout MT5; instead, we offer this example to help traders understand and implement similar strategies.
