Introduction
Evaluating trading robots has become somewhat of a pastime for me. So, when I was asked to assess the True Momentum trading robot, I couldn't help but raise an eyebrow. According to user comments, this bot is supposedly better than most paid indicators. Let's take a closer look and see if it genuinely lives up to the hype.
Description of Functions
The True Momentum robot claims to offer a range of features designed to capitalize on market momentum. Here's what it supposedly offers:
- Automated trading decisions based on momentum indicators
- Customizable parameters for risk management
- Real-time monitoring and alerts
- Backtesting capabilities for historical data
On the surface, these functions sound promising. It's always fun to see if a robot can effectively capture market momentum without blowing up your account.
Analysis of Results
The performance statistics over the last year are available on their website. The results show a consistent upward trend with minimal drawdown. However, one year of data isn't enough to make me jump for joy. Market conditions can change, and what works now may not work later.
User reviews are glowing with praise:
- Better than the majority of paid indicators – KingdomCome
- Very good indicator!! Well done!! – jonclark365
- Thank you for this great indicator – heiko v.piechowski
While positive, I'd take these with a grain of salt until we see more diversified feedback and longer-term performance data.
Pros and Cons
Pros:
- User-friendly interface
- Consistent performance over the past year
- Positive user reviews
Cons:
- Limited performance data (only one year)
- Reliance on momentum, which can be highly volatile
- No transparency about the underlying algorithm
Conclusion
True Momentum has some promising features and shows decent performance metrics for the past year. Nevertheless, more data is needed for a comprehensive assessment. The lack of transparency about the underlying algorithm doesn't do it any favors either. If you're considering it, proceed with caution and don't rely solely on this robot for your trading decisions.
Source Code of True Momentum
Interestingly enough, the original source code for True Momentum isn't available. However, our team at EASY Trading Team has created a version based on its description from the MQL5 marketplace. If you have any questions about the code, feel free to ask.
Note: The EASY Trading Team does not sell the True Momentum robot; we've merely created a code based on its description for educational purposes.
Code:
You don't have permission to view the code content. Log in or register now.Download True Momentum Trading Robot from Easy Trading Forum
For those interested in exploring our version of the True Momentum robot, head over to easytradingforum.com. Remember, this is an educational example based on descriptions from the MQL5 marketplace. If you're curious or have specific questions, don't hesitate to join the forum and discuss your findings.