Introduction
The trading robot Extremum Reverse Bar has been a subject of discussion among traders, and today we'll evaluate its efficiency. With a user rating of 3.55 and mixed feedback, it's time to delve into the specifics and see what this robot brings to the table.Description of Functions
The Extremum Reverse Bar robot operates on the premise of identifying extremum points in price action and executing trades based on price reversals. Its primary functions include:- Identification of Extremum Points: The robot identifies high and low points in the price action to determine potential reversal zones.
- Automated Trading: Executes buy or sell orders when it detects a reversal signal.
- Configurable Parameters: Allows users to adjust settings like stop-loss, take-profit, and trade volume.
- Indicators Utilized: Employs a set of technical indicators to confirm reversal points.
Performance Analysis
Analyzing the performance of Extremum Reverse Bar over the last year reveals a mixed bag of results. The robot has shown moderate success in certain market conditions, but it is far from being a consistent performer. According to user feedback, the robot does exactly what it says it does, yet some users found it “under middel” or not captivating enough. The user rating of 3.55 reflects this inconsistency.Visit the detailed statistics on the Forex Robot Easy website for more comprehensive performance metrics.
Pros and Cons
Like any trading strategy, Extremum Reverse Bar has its strengths and weaknesses. Here's a quick rundown:- Pros:
- Simple and straightforward execution.
- Customizable settings for different trading preferences.
- Autonomous operation.
- Cons:
- Inconsistent performance.
- Mixed user reviews suggest reliability issues.
- Limited appeal for advanced traders seeking more complex strategies.
Source Code of Extremum Reverse Bar
We don't have the actual source code of the original Extremum Reverse Bar robot sold on MQL5. However, we can develop a code based on the description available. If you have questions about the code or wish to discuss further, feel free to join our forum at easytradingforum.com.
Code:
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