Introduction
Well, well, well, we have here another trading robot taking the spotlight, the CAD Sniper MT5. This bot claims to be the ultimate solution for trading CAD pairs and has an overall user rating of 4.86. Impressive, isn’t it? Depositing faith and a handful of greenbacks into an invisible entity, hoping it would multiply your earnings. But let’s not jump to conclusions just yet. Let’s take a closer look at what this robot is all about.Features of the CAD Sniper MT5
According to the comments in our mailbox and the information given on Forex Robot Easy, the CAD Sniper MT5 is designed to trade CAD pairs. Its algorithms are pre-programmed to execute trades based on an undisclosed market indicator or some promising statistics. Apparently, it’s doing quite well for a free EA with users reporting a profit factor of +2.5, a recovery factor of +1.6, and trades won both long and short at +95%.Analysis of the Results
From the data we have, it seems that the CAD Sniper MT5 is yielding quite a substantial return on investment. One user claimed to have backtested all CAD crosses over 10 months with 90-98 trades and reported a 17% drawdown rate. But we aren’t easily convinced. As we always say in the EASY Trading Team, “Don’t believe statistics you didn’t manipulate yourself.”Strengths and Weaknesses
Alrighty then, let’s weigh out the pros and cons. On the bright side, it seems to boast a high win rate and a promising profit factor if we are to believe the user reviews. However, like any other trading tool, it has its own set of weaknesses. Firstly, we don’t know the actual algorithm behind it – a little bit tricky to place our full trust, don’t you think? Secondly, as a free product, how sure are we that we’re not getting what we’re not paying for?Source Code of CAD Sniper MT5
Now, let's talk about the source code. We don’t have the original code of the bot that is being sold on MQL5. However, we can generate a code based on the bot’s description given on the MQL5 site. This is just an example code from easytradingforum.com so if you have some queries, feel free to ask. Please note that EASY Trading Team is not selling CAD Sniper MT5, but we have created a bot code based on its description.
Code:
You don't have permission to view the code content. Log in or register now.