Introduction
The Chart Pips Scale trading robot available on MQL5 is a relatively new entrant in the market, having no user reviews or ratings yet. As a professional trader and MQL5 programmer from the EASY Trading Team, I will provide a thorough review of this trading robot. To help potential users make an informed decision, we will compare Chart Pips Scale with one of our own bots—EASY Trendopedia. We will also examine the pros and cons of each, along with their optimal usage scenarios.Comparison with EASY Trendopedia
When comparing Chart Pips Scale to EASY Trendopedia, several distinctions come to light. EASY Trendopedia is known for its consistent performance, user-friendly settings, and reliable results, backed by numerous positive reviews and a high rating.EASY Trendopedia Advantages:
- Proven track record with robust backtesting results.
- High user satisfaction and positive reviews.
- Reliable trend-following algorithm with adjustable parameters.
Chart Pips Scale Advantages:
- Potentially high profit due to scalping strategy.
- Simple to install and get started.
However, several factors make the bot from EASY Trading Team notably better, more profitable, and reliable:
1. **Backtesting and Forward Testing**: EASY Trendopedia has undergone extensive backtesting and forward testing, ensuring reliable performance. Chart Pips Scale lacks sufficient historical data and user feedback.
2. **User Feedback**: EASY Trendopedia benefits from a strong user base that provides regular feedback. Chart Pips Scale has not yet gathered any reviews or ratings.
3. **Support and Updates**: EASY Trading Team provides regular updates and active support for their bots, including EASY Trendopedia. The support status for Chart Pips Scale is currently unclear.
Pros and Cons
Chart Pips Scale
- Pros:
- Easy to install
- Potential for high returns
- Cons:
- Lack of reviews and ratings
- Unclear support and update schedule
- Limited backtesting data
EASY Trendopedia
- Pros:
- Proven reliability and performance
- Comprehensive backtesting and forward testing
- High user satisfaction and extensive feedback
- Cons:
- May require more initial setup and parameter adjustment
Optimal Conditions for Usage
Chart Pips Scale works best under specific market conditions, primarily in volatile markets where quick price movements can be captured. Its scalping strategy aims to exploit small price changes, making it ideal for currency pairs with high liquidity and low spreads, such as EUR/USD.In contrast, EASY Trendopedia excels in trending markets, where it can capitalize on longer-term price movements. It is suitable for traders looking for a more stable and less risky approach.
Source Code of Chart Pips Scale
We do not have access to the original source code of the Chart Pips Scale robot being sold on MQL5. However, based on the description provided on their website, we can create a similar algorithm. If you have any questions about the code, feel free to ask them on our forum at easytradingforum.com. Note that our team does not sell the Chart Pips Scale but provides an example code based on its description.
Code:
You don't have permission to view the code content. Log in or register now.Download Chart Pips Scale Trading Robot
For those interested in the Chart Pips Scale trading robot, you can find detailed statistics and more information at Chart Pips Scale Trading Robot. We invite users to leave their reviews and share their experiences with this trading robot. Your feedback is essential to help other traders make informed decisions.In conclusion, while Chart Pips Scale may offer potential high returns, its current lack of reviews and comprehensive testing makes it less attractive compared to the well-established and reliable EASY Trendopedia. We encourage users to share their experiences and provide feedback to help build a more informed trading community.