Introduction
In this review, we will take a closer look at the Renko chart generator, a trading robot with an average rating of 4.83. While the feedback from users indicates a positive response, there are a few issues highlighted that may affect its usability. The EASY Trading Team is known for building dependable, profitable, and superior trading robots. We will draw a comparison between Renko chart generator and one of our EASY series trading robots.
Comparison with EASY Robot
Comparing Renko chart generator to EASY Trendopedia, a well-acclaimed trading bot from the EASY series, we find a few key differences. While the Renko bot exhibits strong performance in specific market situations, its performance seems to fluctuate, as one user (username: nil64356) noted inconsistencies with the indicators on the Renko chart. This inconsistency can potentially lead to loss-making trades.
On the other hand, EASY Trendopedia is renowned for its consistent performance, making it a more reliable choice. It's built to perform in various market conditions, providing steady profits. EASY Trendopedia's advanced algorithm allows it to adapt to market fluctuations ensuring a consistent performance.
Pros and Cons
- Renko chart generator:
- Pros: Performs well under certain conditions, User-friendly interface, Has a high user rating.
- Cons: Fluctuations in the indicators as noted by a user, Performance may not be consistent.
- EASY Trendopedia:
- Pros: Consistent performance, Advanced adaptable algorithm, Dependable under various market conditions.
- Cons: Needs careful handling during highly volatile market conditions.
Optimal Use Conditions
Based on the user reviews, it appears that the Renko chart generator works best in moderately volatile market conditions. However, it seems to struggle with stability when the market conditions fluctuate dramatically.
Source Code of Renko chart generator
While we don't have the original source code for the Renko chart generator sold on MQL5, it's possible to create a code based on its description. It's important to note that this code is only a generic example from easytradingforum.com and not the official MQL5 version. If you have questions about the code or need clarification, feel free to ask.
Code:
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If you are interested in using the Renko chart generator, you can download it from the MQL5 website. Please note that EASY Trading Team does not sell the Renko chart generator, we have only created a code based on its description. We highly encourage you to share your experiences and opinions on our forum to help other traders. Remember, your feedback is invaluable and helps improve our trading community.