Introduction
Welcome to the Quasimodo Genie evaluation, an automated trading system well-regarded in the forex trading community. Its fancy name might make one think of magic and wonders, but we need to peel off the layers with a professional eye. As a part of the EASY Trading Team, we aren't easily charmed by a high rating of 5 or a single positive user review.
Function Description
According to the description from MQL5, Quasimodo Genie is designed to hunt for potential reversals in the forex market. It's theoretically based on the Quasimodo Price Pattern, a reasonably reliable but often overlooked pattern. The robot’s primary aim is to identify these patterns in a systematic and automated way, entering trades when the conditions are favorable.
Performance Analysis
Using the statistics provided on forexroboteasy.com for the past year, the Quasimodo Genie has shown some solid performance. However, as any seasoned trader should know, the past is not necessarily representative of future performance. Also, one must consider market conditions, risk management, and overall trading psychology.
Strengths and Weaknesses
On the bright side, this robot uses a reasonably reliable concept for analysis, making its approach appealing. Unfortunately, our experience tells us, there's no magic genie in a bottle here. Its reliance on a single pattern might be a limitation in diverse market conditions. Especially in the highly volatile forex market, locking onto one pattern could be detrimental.
Source Code of Quasimodo Genie
As much as we'd love to crack open the true source code of Quasimodo Genie, we, unfortunately, don't have access to it. However, we can build a sample code based on the description provided on the MQL5 platform where the algorithm is sold. If you're interested in diving into such code, you are invited to ask any questions.
Remember, this sample code is from easytradingforum.com, based on the description of the robot selling on MQL5, and is not the real Quasimodo Genie's code. EASY Trading Team neither sells Quasimodo Genie nor claims this code as the actual Quasimodo Genie's code. The code is merely an illustration based on the robot's description.
Code:
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Now, it's your turn to try out this Quasimodo Genie and see if it fits well into your trading portfolio. Do remember, a trading robot is just a tool to help you execute trading decisions and not a magical solution to your trading challenges. Don't forget to share your experiences with this robot on our forum easytradingforum.com.
The EASY Trading Team is dedicated to providing unbiased and professional reviews of trading algorithms. We always welcome an open discussion where everyone can share their experiences, learn, and improve. Happy trading!