Introduction
Trading robots are indisputably a dime a dozen in the market currently. However, not all of them are guaranteed to offer you the promised returns. This brings us to the 'Donchian Like Channel MT5', a trading robot that has been floating around in the trading community.Description of the Functions
It’s somewhat challenging to provide a comprehensive description of the functions because, well, we don’t have the original source code. The robot is an interesting piece of work that operates on MetaTrader5 (MT5) and uses a Donchian channel strategy, which means it essentially trades based on the price breakout of the high or low of a certain number of previous bars.Comments from Users
- User: chenxingyijiu – “excellent”
- User: DawnMan – “NICE”
- User: soumit3 – “EXCELLENT INDICATOR”
Sounds good, doesn’t it? But let's not jump to conclusions just yet.
Analysis of the Results
No matter what users claim, an analysis of the results is the only real way to determine the efficacy of the Donchian Like Channel MT5. Since we lack detailed statistics of the robot's performance over the past year, it's impossible to pass a definitive judgment here.Pros and Cons
Going by the user comments, it appears the robot scores well on functionality. The Donchian channel strategy can be quite efficient in trending markets. However, the effectiveness of this robot may be compromised in a highly volatile or range-bound market.Conclusion
So, what do we make of the Donchian Like Channel MT5 trading robot? Is it a diamond in the rough, or just another illusion of grandeur? For now, we'll suspend judgment and invite you to share your experience and thoughts on our forum.The Source Code of Donchian Like Channel MT5
While we don't have the original source code, we can provide an approximation based on its description on MQL5. If you have any queries or thoughts about the code, feel free to share your insights. Remember, this is a code example from easytradingforum.com and is not the original code of the robot being sold on MQL5.Note: The EASY Trading Team does not sell the Donchian Like Channel MT5 robot. We only offer a trading robot code based on its description.
Code:
You don't have permission to view the code content. Log in or register now.