Introduction
Well, well, well, it seems like we've got a new player on the block - the Range Filter by guikroth Applied to Heiken Ashi. With a user rating of 5 and a positive review from a certain Michael Wills, it may seem like this trading robot is the next big thing. Before we get carried away, let's bring out our magnifying glasses and take a closer look, shall we?
Description of Functions
According to the details I gathered from the official website https://forexroboteasy.com/trading-robot/range-filter-by-guikroth-applied-to-heiken-ashi/, this forex trading robot specifically uses a range filter in conjunction with Heiken Ashi indicators. The robot is presumably coded to open a trading position when it identifies potential trading opportunities based on the range filter and the Heiken Ashi patterns it recognizes.
Analysis of Results
Now here's where the fun begins. Evaluating the robot's performance based on the numerical results from the past year... Unfortunately, without more in-depth data, our judgment will be as good as a wild guess. So, always remember that past performance is not necessarily indicative of future results.
Pros and Cons
One major benefit of this robot is its use of the Heiken Ashi strategy, which smoothens out market noise, allowing for a clearer picture. The range filter also adds a nice touch, providing an added layer of security by filtering out bad trades.
However, and there's always a however, reliance on a single indicator can be a drawback. Financial markets are influenced by a myriad factors, and leaning too heavily on just one aspect can potentially lead to missed opportunities or worse, false signals.
Original Code of Range Filter by guikroth Applied to Heiken Ashi
I know you're itching to see the original code of the robot Range Filter by guikroth Applied to Heiken Ashi. Unfortunately, we don't have that. What we have is a sample code created based on the algorithm description from the MQL5 site where it is sold. Any question regarding the code? Feel free to ask them. This sample code is brought to you by the folks at easytradingforum.com.
Code:
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Interested in testing this robot for yourself? Head over to MQL5's site (remember, we're not selling it, just reviewing it) or feel free to make your own version based on the algorithm description. We encourage you to share your results and take part in discussions on our forum. After all, the best way to learn is through experience and what better way to gain experience than by trading with a robotic sidekick?