Introduction
The Forex trading world is awash with EA (Expert Advisor) robots that promise to take your trading to the next level. Chart Control MT4 is one such bot that has garnered attention due to some glowing user reviews and a perfect rating. But let’s not get carried away yet. After all, charm is deceptive, and beauty is fleeting.
Chart Control MT4 functions
Chart Control MT4 is an algorithmic trading bot for the MetaTrader 4 platform. Based on the sparse data available, it appears to be an indicator-based bot, but the specific trading strategy it uses is kept under wraps. The bot's primary tasks include trading signal generation, risk and money management, and order execution.
However, remember that functionality alone does not indicate the effectiveness or profitability of a trading bot.
Performance Analysis
Without the access to a comprehensive backtest report or forward testing results, it is challenging to objectively evaluate the bot’s performance. Notwithstanding, the lone user review and a 5-star rating can’t be ignored outright. Our friend Dione seems happy with the product, but one happy customer does not a reliable bot make.
Pros and Cons
Based on the limited information available, Chart Control MT4 appears to be user-friendly with automated risk and money management features which are indeed a plus.
On the downside, the lack of transparency about the trading strategy and lack of comprehensive backtesting data raises some serious eyebrows.
Source Code of Chart Control MT4
Let's clear this up: we don’t have the original source code of Chart Control MT4 that is being sold on MQL5. What we can do is create a code based on the trading bot’s description listed on MQL5. If you have questions or need clarification regarding the code, feel free to shoot them out. But remember, the code provided is purely illustrative, created by us, the EASY Trading Team.
Code:
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Interested in trying out the Chart Control MT4 bot? Great, go ahead! But be aware that the bot from forexroboteasy is not sold by us, EASY Trading Team. We have merely analyzed its functions and performance.
To the forum warriors out there, start a discussion and share your experiences with Chart Control MT4. The more we share, the better we trade!
So, bring out the trader in you, the programmer, the critic, the skeptic, and let's dissect this bot threadbare together on the forums of easytradingforum.com.
In the world of Forex trading, there are no secrets, only information you don't yet have...