Introduction to Turtle Breakout EA Trading Robot
In the sphere of algorithmic trading, we come across numerous trading robots and strategies that claim to make a consistent profit. Today, we are discussing one such robot referred to as the Turtle Breakout EA. According to user reviews and a rating of 4.43 on our website, this robot seems to promise more than just your everyday trading straitjacket. However, as we always maintain, everything needs to be questioned and scrutinized.Installation and Configuration of Turtle Breakout EA
To start with, you need to download the Turtle Breakout EA from our website. Post download, copy the file into the MQL5/Experts folder in your MetaTrader client. After you launch the client, you will find the robot in the Navigator tab. Right-click on it, choose Attach to a chart and you are set for the next steps.The configuration part might seem a bit tricky, but trust me, it is not rocket science. The EA works best on the H1 timeframe for the EUR/USD pair. However, you can experiment with different pairs and timeframes. Keep in mind - this is a breakout strategy, so higher volatility periods might lead to better results.
Please note: EA has several parameters which you can adjust according to your risk tolerance and trading goals. These include StopLoss, TakeProfit, and TrailingStop among others.
Experience with Using Turtle Breakout EA
From our in-house testing and user feedback, this robot had its ups and downs. User Vítor Barrocas rated the EA with 3 stars and commented, Durante os testes para o ano de 2023 o resultado foi sempre negativo. On the other hand, Ruslan Oliynyk and diegorgo gave 5-star ratings, with Ruslan planning to integrate the EA into his portfolio and diegorgo already doing so successfully.So, like every other trading strategy, the Turtle Breakout EA has its own set of limitations. However, with the right configuration and risk management, it can be a beneficial tool in your trading arsenal.
Advice for Improving the Turtle Breakout EA
As per our experience, proper backtesting is essential before using any EA. Try different parameter settings, timeframes, and currency pairs to get the optimal configuration. Just remember, past performance does not guarantee future results. Trade with caution.Turtle Breakout EA Source Code
The original robot is sold on MQL5, and we, unfortunately, do not have the real source code. However, we can develop a code based on its description from the MQL5 site. If you have any questions or doubts about the code, feel free to ask. Remember, this is just an example provided by easytradingforum.com, based on the description of the Turtle Breakout EA.
Code:
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