Introduction
Master Candle Strategy robot is one of the many bots available in the MQL5 market. Eager to understand its modus operandi or are you even considering investing in it? Well, let's dissect this robot together and see its performance over the last year. Our review today will be based on user comments, ratings and some data from the horse's mouth.Description of Functions
The functionality of the Master Candle Strategy robot is primarily based on, no surprise here, the Master Candle concept. In a nutshell, it identifies a master candle and trades the break out of the range. It's a strategy that can seem seductively simple, which is possibly why it reels in traders. Now, as for the code behind all of this, unfortunately that remains a mystery.Note: If you're interested in how we’ve recreated a simple version of Master Candle Strategy based on the description, head over to our forum at easytradingforum.com to peruse through our example code.
Analysis of Results
A quick glance at the data provided on https://forexroboteasy.com/trading-robot/master-candle-strategy/ suggests that the performance of the bot over the last year is satisfactory. However, we know better than to trust just stats, don't we? User comments vary from praising its efficiency in trending markets to some users complaining about it not working at all. The fact that it has an overall rating of 5 should mean something, but we'll let you be the judge.Pros and Cons
On the positive side, the bot seems to perform well in trending markets and its simplicity is something to be appreciated. However, on the downside, it's not very clear how this bot performs in range-bound markets. Also, good luck getting your hands on the real source code.The Source Code of Master Candle Strategy
For those of you code-enthusiasts, we'd love to provide the original source code but unfortunately, we don't have access to that. What we do have is a rough code constructed based on the description provided on MQL5. Feel free to discuss it and ask any questions on our forum at easytradingforum.com.
Code:
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Finally, if you are interested in the Master Candle Strategy robot, it's available for download on MQL5. While you're at it, share your experience and results with this bot for discussions on our forum.Disclaimer: EASY Trading Team does not sell the Master Candle Strategy Robot, the code was crafted based on the description from MQL5 market where it is sold.