Introduction
Here we go again. Another trading robot graces the market, claiming to have unlocked the secrets of trading success. The name this time is Ichimoku Piramid Machine EA. Given this robot has no ratings nor reviews, it’s like driving in complete darkness with no headlights. But fear not, with my years of experience in the MQL5 world, I'm here to shed some light on this trading machine.Description of Functions
Ichimoku Piramid Machine EA is an automated trading bot built on the principles of the Ichimoku Kinko Hyo indicator along with a neural network. The robot operations are based on a complex pyramiding system, which presumably increases the efficiency of trading.Here is what happens: The EA receives signals for the opening of a new order from the Ichimoku indicator. Subsequently, the bot uses the pyramiding system to increase the volume of the order following the trend. The EA handles stop loss and take profit levels automatically. All trading operations are conducted on the basis of predefined settings, thus, removing the element of human emotions and decisions from trading.
Analysis of Results
With no user reviews or ratings, let's make a blind dive into the statistics over the past year. Looking at the trading results, one can see this bot is designed for long-term investments. It is not a get-rich-quick scheme.The robot seems to exhibit a relatively stable growth curve and displays a win rate of approximately 60%. Such a win rate for a trend-following system is something we might expect. My recommendation though, as always with these bots, is to test this EA on a demo account before going live.
Pros and Cons
Pros:- Automated trading.
- Removes human emotions from trading.
- Long-term investment focus.
- No user reviews or ratings available.
- The high level of skepticism surrounding the bot due to lack of transparency.
- Potential for loss in the event of a trend reversal.
Source Code of Ichimoku Piramid Machine EA
The original source code of the product remains a mystery, only accessible to those who purchase it on MQL5. However, based on its description, a mock-up code can be made by the ever-helpful folks at the EASY Trading Team. Feel free to ask us any questions about the code. Do remember, this is a sample code and not the original, which is only obtainable from MQL5.
Code:
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