Introduction
Ladies and gentlemen, traders of all levels of experience, today I turn my unconvinced gaze upon the trading robot known as PrevDayClose. According to the information morsels given, this EA seems to possess a 5-star rating and holds a rather laconic review that simply states Excellent. Intriguing. My routine skepticism, however, remains unbowed. Let's dive into the specifics of this trading robot.Description of Functions
From what we can gather, PrevDayClose operates based on the previous day's closing values. And that's about it. Yes, ladies and gentlemen, simplicity is the name of the game here. When the beauty of the market's complexity is reduced to such an elementary strategy, one cannot help but smirk. However, let's reserve our judgment until we inspect the results.Analysis of results
Without having access to the actual trading data, we have to rely on the given yearly statistics and user feedback. The link provided, https://forexroboteasy.com/trading-robot/prevdayclose/, takes you to a fairly detailed statistical analysis that you could spend your valuable time examining. However, since I'm here to do the tedious tasks for you, I'll summarize the relevant points:1. Consistent Profits: For the past year, PrevDayClose has shown steady profit generation.
2. Drawdown: The drawdown seems to be within an acceptable zone for most traders.
3. Risk to Reward Ratio: It claims to maintain a decent Risk to Reward ratio, which is essential for long-term survival in the trading realm.
Now, don't get too excited. Even the most gilded statistics can bury underlying issues that could come to haunt you when you least expect it.
Advantages and Disadvantages
Advantages:- Simplicity: The strategy is easy to understand and implement.
- Consistent Performance: The EA has demonstrated a steady profit trend over the past year.
- Low Drawdown: The acceptable drawdown makes it appealing to risk-averse traders.
Disadvantages:
- Over-simplification: Reducing the market to the previous day's close is incredibly simplistic and may overlook important market factors.
- Lack of Flexibility: The EA may not adjust well to sudden market changes or volatility.
Source Code of PrevDayClose
Note: We certainly don't have the original source code of PrevDayClose, which I'm sure is guarded tighter than Fort Knox. However, based on the description provided by MQL5, code crafting is quite feasible. If you're interested, head to https://easytradingforum.com/ where we created a sample code based on the description. Feel free to critique it, ask questions or challenge it - that's what a community forum is for.
Code:
You don't have permission to view the code content. Log in or register now.Download PrevDayClose: A Glimpse into Simplistic Strategy
Remember, we at EASY Trading Team don't sell PrevDayClose, we simply provide an example of what the code could look like based on the description. For those who dare to explore, the discussion forum awaits your contribution. In the world of trading, sharing is indeed caring.https://easytradingforum.com/ - Visit us to participate in the discussion about PrevDayClose and share your valuable insights.