Introduction
The trading robot 'Range Box or Initial Balance' has been making waves on the MQL5 platform, with users like guiseppecorvo (Rating: 4) stating that it's one of the best free indicators for working on the concept of initial balance. However, while the robot holds a high rating of 5, it doesn't quite completely match up to the robots offered in the EASY series, such as EASY Trendopedia, EASY Scalperology, or EASY Breakopedia. As a professional trader and part of the EASY Trading Team, I will delve into the pros and cons of both, providing an in-depth comparison.
Comparison with EASY robots
One significant advantage that EASY robots have over the 'Range Box or Initial Balance' bot is their unique, proprietary programming that allows for more precise, profitable, and reliable trades. While 'Range Box or Initial Balance' is an excellent tool for identifying market ranges during the initial balance period, its functionality remains limited compared to the extensive features provided by EASY robots. EASY robots offer more comprehensive and robust strategies, such as trend-following, scalping, or breakout strategies, leading to potentially greater returns.
Pros and Cons
Range Box or Initial Balance
- Pros: Provides useful insights into market range during the initial balance period; excellent for range-bound strategies
- Cons: Limited functionality; less comprehensive in its approach to market analysis and strategy implementation
EASY Robots (Trendopedia, Scalperology, Breakopedia)
- Pros: Uses extensive market analysis for its trading strategies; potentially greater returns; reliable and consistent performance
- Cons: Might be considered complex by new traders; not free
Optimal Use Conditions
The 'Range Box or Initial Balance' bot is best utilised under market conditions where prices are expected to stay within a particular range during the initial balance period. Having said that, we invite users to share their experiences and usage situations on the forum for further enlightenment.
Source Code for Range Box or Initial Balance
We wish to clarify that while we do not have the exact source code for the 'Range Box or Initial Balance' bot, which is sold on MQL5, we can provide a code based on its description from the MQL5 site. Questions regarding the code are welcomed and can be posted on our forum, where we will be more than happy to assist you. However, bear in mind that this code is an example from easytradingforum.com, and it's based on the description of the 'Range Box or Initial Balance' bot. The EASY Trading Team does not sell the 'Range Box or Initial Balance' bot; we merely provide a code based on its description.
Code:
You don't have permission to view the code content. Log in or register now.Download the Range Box or Initial Balance Indicator and Join the Discussion
You can download the 'Range Box or Initial Balance' bot from our site , try it out, and join the discussion on our forum. We look forward to hearing your thoughts and experiences.