Introduction
In the world of Forex trading, the name Cycle Sniper rings a bell for some traders. It's a trading robot that claims to help traders in their quest for profitability, boasting features that, on paper, sound good. But let's cut the hype and get to the fact.
Description of the Cycle Sniper Functions
According to its creators, Cycle Sniper is designed to give buy or sell signals, which supposedly help traders make informed decisions on entering or exiting trades. Some users like aqvila and safire25 even claim to combine it with other indicators to maximize profitability. However, as our snarky friend osazemeu pointed out, the accuracy seems to be closer to 50 - 55% rather than the advertised 90 - 95%.
The icing on the cake is the bonus indicator, which, as per some users, contributes to getting better signals. Interestingly though, this robot does not repaint but updates in real time – a feature that seems to court mixed feelings among users.
Analysis of Cycle Sniper Results
Based on the provided Cycle Sniper statistics, the robot had a fair share of both profitable and red days over the last year. However, we need to take these results with a pinch of salt. As aqvila rightly pointed out, it's not all about blindly taking every signal. Traders need to apply sound money management strategies and sometimes enter trades earlier than indicated.
Pros and Cons of Cycle Sniper
Pros:
- Easy to use interface
- Provides buy and sell signals
- Mixes well with other indicators
- Real-time updates (no repainting)
Cons:
- Accuracy may not live up to the claim
- Results over the last year are mixed
- Some traders might find the real-time updates confusing
Source Code of Cycle Sniper
As a team, we don't know the actual source code of the original Cycle Sniper robot sold on MQL5. However, based on the description provided on the MQL5 website, we have developed a code sample for our forum users. If there are any questions about the code, feel free to ask. Remember, this is a code sample based on the robot's description, it's not the actual Cycle Sniper robot code.
Code:
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Let's get the record straight here, EASY Trading Team does not sell the Cycle Sniper robot. But based on its description, we've made a code of a trading robot. If there are questions or discussions about the code, we welcome them on our forum easytradingforum.com. Let's keep the conversation going. Happy trading!