The NewHorizon expert advisor can currently be found on the MQL marketplace, there may be other expert advisors with similar names so we have provided a link to the expert advisor below. This expert advisor was first released on the 23rd of November 2019, it has since been updated and at the time of writing this review, the most recent version is version 2.5 and that was released on the 27th of February 2020. There are currently 30 activations of this expert advisor, so it is being used by clients.
Overview
This expert advisor has been designed to work with MetaTrader 4. It uses a complex non-linear formula in order to work out entry positions into the markets and an algorithm for fixing the results. The EA uses mandatory take profit and stop loss levels and has safety nets such as not trading when the spreads are larger.
The expert advisor is best used on the GBP/USD, EUR/USD, EUR/GBP, USD/JPY, and USD/CAD.
There are a number of different settings and parameters available to alter in order to change the functionality of the expert advisor to suit your needs, these include things like take profit and stop-loss levels, the maximum risk to use, whether to use trailing stop losses, max slippage, max spreads, and a few others too.
Service Cost
The expert advisor costs $4,750 which is quite a high price, you are also able to rent the expert advisor for 1 year, this will set you back $4,300 per year. There is also a free demo version available. However, we do not know if this has any limitations or time limits attached to it.
Conclusion
There are only 2 reviews for this expert advisor, it has an average score of 3 out of 5 as it has one 5-star review and one 1-star review.
“This is a Great Advisor showing excellent results. Installed on a remote server. My ping ranges from 50 to 100. It works perfectly on the currency pairs specified in the description. I recommend this advisor.” – A 5-star review.
“Crap EA backtests not real, a lot of losing trades with big DD and winners are very small 1-2-3 pips and not enough to cover losses. The developer won’t reply to my complaints now I was able to rent for 1 month after I rented the developer quickly changed min rental time for 1 year and 4 300 USD. The 5-star review you see here is FAKE, this guy gave a 5-star review to many of developers EA’s The developer has 120+ EA’s, all of them with FAKE reviews from same users I ask for a refund !” – A 1-star review.
So here is a mix of opinion, we would suggest using the demo version before making a purchase, just to make sure that it works for you and that you are able to get it set up properly.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/43932
