Arbitrage Tief Index was created by Philip Pankaj and was first uploaded on the 23td of March 2019, it has had a number of updates, the most recent update was on the 22nd of January 2020 and is currently at version 1.80. It can currently be found on the MQL5 MArketplace under the Indicators heading.
Overview
Arbitrage Tief Index was created for the MetaTrader 4 trading platform, there is a MetaTrader 5 version also available on the MMQL5 marketplace. The aim of the indicator is to analyze the best arbitrage options, it will look at multiple currencies correlations and will look for positive, neutral, and negative correlations.
Some of the main features of the software:
- Great for novice traders as well as experienced traders.
- Low-risk entries.
- Doesn’t repaints.
- No additional Indicator is needed.
- It’s a trading strategy itself.
- It is perfect for scalping Basket trades.
- Simple and easy to use.
- Works in both trending and non-trending markets.
- Popup Alerts, Push Notification, and Email alerts.
- It can be integrated into Expert Advisors.
In terms of parameters, there aren’t many of them, there are some options for alerts such as popup alerts, email alerts, and push notifications.
Service Cost
The Arbitrage Thief Index EA indicator can be purchased for $89, this is a one-off payment and can then be activated up to 10 times. There is also an option of renting the indicator, you can do this on a monthly basis which will cost you $49 per month, there is also a three-month option which will cost you $69 for that time period.
A free demo version is also available, this version will have some limitations, the site does not indicate what they are but this normally means that it can only be used with the strategy tester within the trading platform. It may be worth downloading to try before you make a purchase.
Conclusion
At the time of writing, there are currently 25 user reviews for the Arbitrage Thief Index which are giving the indicator an overall rating of 4 out of 5.
“This indicator and the strategy are awesome. I’ve tested it on my tiny real account and was quite successful with it if you follow the rules. I’m moving to my bigger account. Thank you, Philips!” – A 5-star review.
“The strategy behind the indicator is very good. It is a very professional operating technique. If you want to operate a large investment fund this is your indicator if on the contrary, you are looking for unusual returns and with great risk, look for martingale robots that will exploit your account. “Arbitrage Thief Index” is very professional and very safe.” – A 5-star review.
“Not good. Too many false signals.” – A 1-star review.
The majority of the reviews are very positive, the main negatives are not giving a lot of information on the issues, but it does not seem to be working well for some, while others it does exactly what it says it is meant to. There re also over 700 comments, the developer has been very active replying to each one which shows that they are still supporting the indicator and those that have purchased it which is great to see. We woulda device trying out the free version before making a purchase just to make sure that it does in fact do what you need it to do.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/37026
