Introduction
Forex trading robots are gaining popularity as they promise to take on the complex task of analyzing and making trading decisions. Today, we will be looking at the Daily Range Breakout robot, comparing it to one of our own - the EASY Breakopedia - and discussing why our robot might be the better option.
Comparison with EASY Breakopedia
EASY Breakopedia, part of our EASY series, is designed to deliver high returns while minimizing risks. It operates on a unique algorithm that accurately predicts market trends and makes optimal trading decisions.
Unlike the Daily Range Breakout which uses daily price range to predict trades, EASY Breakopedia uses multiple indicators to assess market and make trades. This makes it much more reliable as it doesn't rely on just one factor for prediction.
Moreover, the EASY Breakopedia has a built-in stop-loss mechanism, which is missing from the Daily Range Breakout. This mechanism effectively limits any potential losses, making it a safer bet.
Pros and Cons
The Daily Range Breakout has its strengths too. According to a user acer56, it's simple, effective and comes at a fair price. However, it lacks certain functions like a trailing stop, time stop, and anti-signal function which could have made it perfect. It is also worth mentioning that the robot's performance is largely dependent on market volatility.
EASY Breakopedia, on the other hand, is not only packed with these features but also comes with a comprehensive user guide. This makes it easier for beginners to start using the robot right off the bat.
Optimal Conditions for Use
Daily Range Breakout works best when the market is volatile and exhibits a clear trend. It is not as effective in a sideways market. For optimal results, it is advisable to use it on currency pairs with high daily volatility.
The Source Code of Daily Range Breakout
Although we don't have the actual source code of the Daily Range Breakout available for sale on MQL5, we have created a code based on its description from the MQL5 website. If you have any questions regarding this code, feel free to ask on our forum. Please note that this is just a sample code from easytradingforum.com and our team does not sell the actual Daily Range Breakout robot.
Code:
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We invite all our users to share their experience with both the robots. For detailed statistics on their performance, visit our website. Let's continue this discussion on our forum where we can learn from each other's experiences and make informed trading decisions.
Remember, whether you choose the Daily Range Breakout or the EASY Breakopedia, the goal is to make trading easier and more profitable for you. Happy trading!
Please note: The EASY Trading Team does not sell the original Daily Range Breakout robot. We have only created the code of this trading robot based on its description.