Introduction
Welcome to our comprehensive review of the Rule Plotter Expert trading robot. As a professional trader and MQL5 programmer from the EASY Trading Team, I have had the opportunity to thoroughly examine this trading bot. In this review, we will take a deep dive into the pros and cons, compare it with a bot from our EASY series (EASY Trendopedia), and outline the ideal conditions for its use.
Comparison with EASY Trendopedia
Firstly, compared with our EASY Trendopedia bot, Rule Plotter Expert has some significant differences. EASY Trendopedia is specifically geared towards trend-following mechanisms, while Rule Plotter Expert seems to be more general-purpose, allowing for more flexibility in its trading strategies. This flexibility and generality can be a double-edged sword. While it opens up more opportunities, it can also lead to more risk.
In terms of profitability and reliability, user feedback like the one from Daniel Rene Meyer assigns a high rating to Rule Plotter Expert. However, our extensive back-testing and live trading data show that EASY Trendopedia consistently outperforms Rule Plotter Expert. This can be attributed to our carefully crafted algorithms that are designed to maximize profit while minimizing risk, and a more focused trading strategy.
Pros and Cons
Pros of Rule Plotter Expert
It offers flexibility in testing various trading strategies.
It's easy to use, allowing non-programmers to engage in algorithmic trading.
Cons of Rule Plotter Expert
It comes with an inherent risk due to its generality.
Its source code is not available for fine-tuning and modifications.
Pros of EASY Trendopedia
It has a focused trading strategy ensuring lower risk.
Our own extensive testing shows higher profitability.
Full access to the source code allowing for customization.
Cons of EASY Trendopedia
Requires a basic understanding of MQL5 to fully utilize its features.
Optimal Conditions for Rule Plotter Expert
Based on our testing and user feedback, Rule Plotter Expert tends to perform best under stable market conditions without high volatility. This allows the bot to fully utilize its flexibility without risking significant losses.
Source Code of Rule Plotter Expert
Although we don't have access to the original source code of the Rule Plotter Expert bot sold on MQL5, we can generate an example code based on its description. This code is not the actual bot sold on MQL5, but a version created by the EASY Trading Team. If you have any questions concerning the code, feel free to ask them on our forum.
Code:
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Finally, we encourage all our users to share their experiences, opinions, and trading results with Rule Plotter Expert on our forum. Your feedback is invaluable in helping us and others make the most informed trading decisions. Remember, the detailed statistics for Rule Plotter Expert are available on our website.