Introduction
Greetings, traders! Our EASY Trading Team has taken a speculative glance at a popular trading robot known as Awesome RSI. According to its rating and a positive review by a user named Detleff Böhmer, this robot seems to be doing remarkably well. But, as we all know, the devil is in the details.
Description of Functions
Before we dive into the evaluation, let's first outline its main functions. The Awesome RSI integrates the Relative Strength Index (RSI) and Bollinger Bands in an attempt to identify optimal buying and selling points. It operates based on the concept of overbought and oversold levels, with the Bollinger Bands serving as an additional filter.
Analysis of Results
For a comprehensive review, we analyzed the results provided on forexroboteasy.com. The performance over the last year has been, well, somewhat stable. However, being professional traders, we know that past performance is not a guarantee of future results.
Strengths and Weaknesses
The Awesome RSI, like all trading algorithms, has its strengths and weaknesses. The integration of RSI and Bollinger Bands appeared to be a plus point. It seemed to help the robot in market trend identification and volatility management.
However, seemingly impressive features don't exempt it from the inherent limitations of a mechanical trading system. The robot likely fails to account for market news or sudden changes in economic conditions. Also, the robot's heavy reliance on historical data as a prediction tool is a drawback recognized by every seasoned trader with a skeptical smirk.
The Source Code of Awesome RSI
We don't have the original source code of the Awesome RSI robot that's sold on MQL5. However, we've created our own version of the code based on its description on MQL5. If you encounter any issues, feel free to pepper us with questions. Please note that the provided code isn't an exact copy of the original robot; it's merely an interpretation created by our team.
Code:
You don't have permission to view the code content. Log in or register now.Download the Awesome RSI Trading Robot Code for Free
Interested to try it out? You can download our version of the Awesome RSI trading robot code from our forum. Use this code as a starting point, modify it, tweak it, make it your own. Who knows, you might even stumble upon an ingenious modification. If you do, don't forget to share it with us.
Remember, we're here to learn from each other. The EASY Trading Team does not sell the Awesome RSI robot; we merely provide a self-written code based on its description. Let's keep the discussion open, unbiased, and enlightening. Happy trading!