Introduction
Evaluating the GO Breakout and Retest trading robot is like dissecting a frog in a biology class—fascinating for some, repelling for others. With a rating of 3.8 based on mixed user reviews, it's clear that the robot has its pros and cons. But hey, let’s dive in and put this thing under the microscope.
Features Overview
The GO Breakout and Retest robot is designed to capitalize on market breakouts followed by retests. Here are some of its key functions:
- Detects breakouts from key levels
- Identifies retest opportunities
- Automated entry and exit points
- Integrated risk management
- Supports multiple currency pairs
- User-friendly interface
In summary, the robot claims to automate the tedious task of scanning for breakout and retest setups, thus saving traders time and effort.
Performance Analysis
Now, let's get to the meat and potatoes—performance. According to the detailed statistics available on this site, the performance over the last year shows:
- Return on Investment (ROI): 15%
- Drawdown: 10%
- Win Rate: 60%
- Average Trade Duration: 2 hours
On paper, these numbers look decent, but they are by no means spectacular. A 15% ROI is acceptable, but the 10% drawdown could be a concern for risk-averse traders.
Strengths and Weaknesses
Pros:
- Automates breakout and retest strategies, saving time.
- Reasonable ROI for a long-term investment.
- Good win rate.
Cons:
- Mixed user reviews indicate inconsistencies in performance.
- Reports of slowing down MT4 platforms.
- 10% drawdown might be a dealbreaker for some.
- Lack of transparency in the strategy and coding.
Source Code of GO Breakout and Retest
Ah, the elusive source code. We don't have access to the original code of the GO Breakout and Retest robot sold on MQL5. However, creating a similar algorithm-based robot from the description provided on MQL5 is possible. If users have questions about this code, feel free to ask; this is a sample code from easytradingforum.com, derived from the described functionalities of the GO Breakout and Retest.
Code:
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Curious to see how the GO Breakout and Retest trading robot performs for you? Head over to this link for more details and download options. Remember, our team at EASY Trading Team does not sell this robot; we just provide an analysis based on its described capabilities.
In conclusion, the GO Breakout and Retest trading robot offers some potential benefits, but it also comes with its share of drawbacks. If you're using it or planning to, join the discussion on the forum and share your results. It's always good to have multiple perspectives.