Introduction
Evaluating trading robots can be a bit like navigating a minefield—there's always some inherent risk. Today we'll dissect the PZ Equity Guardian EA MT4, a trading robot available on the MQL5 market. Based on user comments and ratings, it seems not everyone is thrilled. Let's break down its features, recent performance, strengths, and weaknesses to figure out if it's worth a shot.Description of Features
PZ Equity Guardian EA is designed to manage the equity of your trading account by closing all trades when certain risk conditions are met. The main features include:- Max Drawdown Control
- Equity Trailing Stop
- Automatic shutdown of all trades upon reaching specified limits
- Email alerts for key events
- Compatibility with other EAs (though user comments suggest otherwise)
Sounds good on paper, right? Well, the devil is in the details.
Analysis of Results
Given the user comments and the overall rating of 1, it's clear this robot has issues. User 106561 mentions that the program ignores watermark input and fails in drawdown reference. Poltergeist points out that the drawdown calculation is dysfunctional and that the EA’s behavior contradicts its description. He even notes the developer’s peculiar explanation, which does not align with user expectations.Over the past year, there's been consistent feedback that the robot doesn't perform as advertised, particularly in managing equity and drawdown. Users report unexpected closures of trades and a lack of response from the developer, which is never a good sign.
Pros and Cons
Pros:- Conceptually strong: Equity management is crucial in trading.
- Automated trade shutdown and email alerts add a layer of security.
Cons:
- Drawdown calculations are reportedly flawed.
- Poor communication and support from the developer.
- Incompatibility with other trading tools, like PZ Local Trade Copier.
- User comments suggest the EA functions differently from its description.
Conclusion
To sum up, PZ Equity Guardian EA MT4 seems to have significant shortcomings. While the concept behind it is solid, execution appears to be lacking. Before you invest your hard-earned money, consider these user testimonials and weigh them against your own risk tolerance.Source Code of PZ Equity Guardian EA MT4
One of the key challenges in evaluating this robot is the unavailability of the original source code. On forums and communities, we often find that knowing the exact code can help in customization and troubleshooting.While the original code isn't available, our team at EASY Trading Team has created an example algorithm based on the robot's description from MQL5. Feel free to discuss this code on our forum.
Code:
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