Introduction
So, you've stumbled upon the AverageTrueRange trading robot, have you? Well, let's dissect this little wonder and see if it's worth the hype, or just another fancy algorithm designed to drain your wallet.Description of Functions
The AverageTrueRange robot is built around the Average True Range (ATR) indicator. For those who might be living under a financial rock, ATR is a measure of volatility. The robot's primary functions include:- Opening positions when volatility thresholds are met.
- Setting stop-losses based on ATR values.
- Adjusting position sizes according to risk parameters.
You get the idea—it's volatility this, ATR that. If you're someone who swears by volatility-based trading, this might pique your interest. But don't get too excited just yet.
Analysis of Results
Now, onto the juicy part. Based on the user rating of 5 and the comment from our friend jiab, you'd think this robot is the holy grail of trading. However, one good ..thank you doesn't exactly scream statistical significance.The annual performance data, available on this page, shows:
- Annual Return: 12%
- Maximum Drawdown: 8%
- Win Rate: 60%
Not earth-shattering, but not terrible either. If you're into steady, albeit unremarkable gains, you might find this acceptable.
Pros and Cons
Let's break it down:Pros:
- Simple and easy to understand.
- Uses a well-known indicator.
- Decent risk management.
Cons:
- Performance is average at best.
- Not much customization.
- Limited user feedback.
Original Source Code of AverageTrueRange
Oh, the code... If only we had access to the original source code of the AverageTrueRange robot that's being sold on MQL5. Unfortunately, we don't. However, we at EASY Trading Team have crafted a version based on the description provided on the MQL5 website. If you're curious about the implementation or have questions about our code, feel free to ask.
Code:
You don't have permission to view the code content. Log in or register now.Download the AverageTrueRange Robot
For those eager to jump in, download your version of the AverageTrueRange trading robot from ForexRobotEasy.com. Remember, our code is based on the MQL5 description, and we do not sell the original robot. Join our community at easytradingforum.com to discuss your experiences and share your results with fellow traders.Questions about the code? Fire away. The EASY Trading Team is here to help.