Categories
Forex Service Review

News After Macro EA Review

News After is currently found within the Experts section of the MQL5 marketplace, it was created and uploaded by Fan Zhang on the 4th of April 2020, it received its most recent update on the 8th of April 2020 and is currently at version 1.10.

Overview

News After is a news trading expert advisor that was designed for the MetaTrader 4 trading platform. It is designed to make trades after important macro news events. The developer has stated the following:

News After will NOT place stop orders before the news. It will place market order following the trend after the news.

News After does NOT trade news simply based on its impact (High, Medium) from calendars. It trades selected news based on historical backtest performance. It will not trade some high-impact news but will trade several medium-impact news.

News After will open positions only when the news moves the market significantly. Otherwise, it will not open any positions at all. Trading parameters will be optimized each time based on current market volatility.

The EA can be used on 27 different currency pairs including AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDCHF, and USDJPY. It is recommended to use the EA on the M1 timeframe.

There are also some parameters that come with the EA, these include magic numbers, slippage, which pairs to trade, time zones, lot sizes, lot step sizes, currency filters, and more.

Service Cost

News After will currently cost you $399 as a one-off payment, it will get you up to 6 activations with no other limitations. If you prefer, there is also the option to rent the EA, this can be done on a monthly basis and will cost you $10 per month. A free demo version is available, but this can only be used with the MT4 strategy tester rather than on a live account.

Conclusion

At the time of writing, there are no reviews or comments indicating whether people are finding the EA profitable or useful, due to this, we would recommend that you contact the developer with any questions you have just to make sure that the EA will be right for you and they are around to offer support should you decide to rent or purchase the EA.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47886

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Forex Service Review

Capital System Review

Capital System is located within the Experts sub-category of the MQL5 marketplace, it was developers by Vitalii Zakharuk and uploaded to the marketplace on the 7th of March 2020, it was updated on the 11th of AMrch 2020 and this brought the software up to 1.1.

Overview

Capital System is an expert advisor that was designed for use with the MetaTrader 4 trading platform, the system was designed to work with the GBPUSD currency pair only and is not optimized for any other currency pair. The system implements the principle of seven orders, this means that it will only open up seven trades at any one time. The system has been designed to work with a series of buys and sells independent from each other which means that the system can be a little more versatile than a system only doing buys or sells at any one time.

Some of the main benefits of the EA:

  • Maximum 7 orders in one direction.
  • Optimum indicators are selected.
  • Adaptive risk management system and deposit protection system.
  • Stops and also trailing stops work for a common position and not for a separate order, regardless of buying and selling.

So while things sound pretty good, looking through the parameters it doesn’t make for fantastic reading, it has become clear that the system uses a grid-based system, this is one of the strategies that are classed as dangerous. The way it works is that it will open up a trade if the markets move against it, it will open up another trade in the same direction, either at the same zie or larger, if the markets continue to move against it, more and more trades will be opened increasing the drawdown dramatically. This system has 7 trades maximum, but at that stage, the drawdown could be very high. These systems only work with huge accounts, and even then the account is not necessarily safe from large trending movements.

There are a number of different parameters that come with the EA, it comes with options such as the starting volume, automatic lot increases, risk management option, stop losses, take profits, the grid steps, additional paraments, magic numbers, comments, and more.

Service Cost

The Capital System can be purchased from the MQL5 marketplace for a one-time payment of $98, this gets you up to 5 activations of the software and no further limitations. Unlike many of the EAs on the MQL5 marketplace, there is no option to rent this one. There is a free demo version available, but this can only be used with the strategy tester within the MT4 platform rather than on a live account.

Conclusion

At the time of writing, there were no reviews or ratings from the customers of this EA, this makes it quite hard to work out whether the EA is working as intended and whether it is profitable or not. There are also no comments so the sort of support being offered in not known to us, due to this, we would strongly suggest that before you make a purchase, just send the developer a message to see whether they are there to offer support should you need it.

This Forex service is currently available at the following web address: https://www.mql5.com/en/market/product/47023

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Forex Service Review

DYJ Average Directional Movement Index MT4 Review

DYJ Average Directional Movement Index MT4 was created by Daying Cao and was uploaded to the Experts section of the MQL5 marketplace on the 6th of March 2020, it has not received any updates since being uploaded as it was originally uploaded to the marketplace as version 2.51.

Overview

DYJ Average Directional Movement Index MT4 is an expert advisor that was developed to be used with the MetaTrader 4 trading platform. The EA is based on the ADX indicator and can be used on a large number of currencies and any timeframe.

Some of the key features of the EA:

  • Monitors all pairs at the same time.
  • The EA monitors the top 23 pairs by default, but you can select fewer pairs.
  • Monitors every timeframe, from 1 Min to Monthly.
  • It is a multi-currency EA that can be run from a single chart.
  • It allows you to set up a working time or a specific news time.
  • Usually, the winning rate of profit in three orders is above 95%.

The EA can currently work with the following currency pairs: GBPUSD, EURUSD, USDJPY, USDCHF, XAUUSD, USDCAD, GBPJPY, EURJPY, EURGBP, EURAUD, EURNZD, EURCAD, CADJPY, AUDUSD, AUDNZD, AUDCAD, AUDJPY, NZDJPY, NZDUSD, NZDCAD, GBPAUD, GBPNZD, GBPCAD, CHFJPY, NZDCHF, AUDCHF, EURCHF, USDSEK, USDNOK, USDZAR, USDDDK, USDCNH, USDHKD, USDPLN, and USDSGD.

There is also a range of settings that can be changed, these include the pairs to use, magic numbers, strategy settings, lots to use, stop losses, take profits, trailing stops, max spreads, max slippage, trading times, display settings and more.

Service Cost

The expert advisor can be purchased from the marketplace with a single payment of $425, this will allow you to activate the EA up to 5 times. There is also the option to rent the EA for various periods of time, for a one-month rental it will cost you $125, for three months it will cost you $250, for six months it will cost you $350 and for a year, it will cost you $375. A free demo version is available, but it is heavily limited and can only be used with the strategy tester within MT4 rather than on a live account.

Conclusion

Unfortunately, at the time of writing, there were no reviews, ratings or comments available for this EA, in fact, it had only had the demo downloaded 4 times which is very low and could be the reason why there are no reviews as no one has purchased it yet. This does mean that we do not know whether the EA is functioning how it was intended to function or what sort of support the developer will be offering. Due to this, we would strongly recommend that before you make a purchase or a rental, that you contact the developer with your questions and queries, so you can be sure that the creator will be around to offer support should you need it.

This Forex service is currently available at the following web address: https://www.mql5.com/en/market/product/46972

Categories
Forex Service Review

Fibonacci Retracement Review

Fibonacci Retracement is currently found within the MQL5 marketplace under the Experts heading. It was created by Vladimir Gribachev, and it was first uploaded to the marketplace on the 20th of March 2020, it has received a few updates, the most recent update was on the 24th of March 2020 and this bought the EA up to version 1.2.

Overview

Fibonacci Retracement is an expert advisor that was designed to work with the MetaTrader 4 trading platform. Its main purpose is to trade in line with the Fibonacci Retracement method. The Fibonacci levels are built by the EA in accordance with standard ZigZag indicators. At the start of a new bar, the advisor will check to see whether a new minimum or maximum has appeared on the charts, it will then automatically rebuild the level grid when this happens

The EA can display and use up to five levels of Fibonacci for opening levels, it will use up to two take profit levels with adjustable partial closing it can use averaging to break even, the EA can filter out trades on a Friday to avoid weekend holding.

The EA also comes with a number of different parameters, these include the timeframe for the Fibonacci levels, the depth of the candles, deviation, backstep, and the minimum wavelength.

https://youtu.be/-g9PIJmT9-M

Service Cost

The Fibonacci Retracement EA can be purchased with a one-time payment of $50, this allows up to 5 activations of the EA and no further limitations. There is also the option to rent the EA, this can be done on a monthly basis and will cost you $12.50 per month, it can also be rented for a six month period which will cost $25 for that period. A free demo version is also available, this version can only be used with the strategy tester within the MetaTrader 4 trading platform.

Conclusion

There has been just one user rating available, this has given the EA an overall rating of 5 out of 5 but the user did not leave a comment with the review, but it does indicate that it worked well for them. There are no comments available so the support being provided is an unknown to us. We would suggest contacting the developer with your questions so you can be sure that it is still being actively supported.

This Forex service is currently available at the following web address: https://www.mql5.com/en/market/product/47166

Categories
Forex Service Review

Mad Pro Expert Advisor Review

Mad Pro is found within the Experts section of the MQL5 marketplace. It was uploaded by Yury Emeliyanov on the 3rd of April 2020, it was uploaded as version 41.0 and has not received any further updates.

Overview

Mad Pro was created to be used with the MetaTrader 4 trading platform and is an expert advisor. It can currently be used with the EURUSD currency pair and on the M30 timeframe.

The EA works by looking at moving averages and will open up trades when certain criteria are met. It will close trades when the price reaches either 29 points above or below the top or bottom price of the previous week.

The EA does not provide permanent loss limitations and the strategy does not use take profits, so you may want to monitor the EA rather than leaving it as a fully automated system.

Service Cost

The Mad Pro expert advisor will currently cost you $50 to purchase it outright, this will give you up to 5 activations. There is also another option to rent the EA, this can be fone on a monthly basis for $15 per month, for three months it will cost $20, for six months it will cost $25 and for a one-year rental, it will cost $30.

A free demo version is available and can be sued wit the strategy tester within the MetaTrader 4 platform.

Conclusion

There are no reviews or comments for the EA at the time of writing this review, this makes it hard for us to see whether people are finding it useful and whether or not it is doing what it is meant to be doing. Due to this, we would strongly suggest getting in touch with the developer. This is a way to make sure that it will function the way you need it to, it will also make sure that the developer is still around and will be able to provide support should you decide to purchase or rent the EA.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47991

Categories
Forex Service Review

Panel Super Order EA Review

The Panel Super Order is an expert advisor that is currently found on the MQL5 marketplace, we have provided a link below to the exact expert advisor just in case there are any others with similar names. The expert adviser was first published on the 14th of August 2015, it has been updated a number of times, the most recent update was on the 16th of April 2019 and this brought it up to version 2.1.

Overview

This expert advisor has been designed to work with the MetaTrader 4 trading platform, it simply replaces the existing one-click trading system with one with additional options and functionality.

The main features of the expert advisor:

1. Speed/One-Click Trading Panel – open/close trades, change lot sizes, TP/SL levels.
2. Pending Order Panel – open pending orders, set lot sizes, TP/SL and more.
3. Can work on Live and Back-Test (Strategy Tester) – Test new strategies.
4. “Close All!” Button – Close all open orders with one click.
5. “Delete Pending!” Button – Delete all pending orders with one click.

There are a number of setting sand parameters that can be altered to change the expert advisor to more suit your needs, these are the default lot size, the default take profits and stop losses, the all currency mode, an auto chart shift and to set a magic number on each trade.

Service Cost

The expert advisor can be purchased outright for $30, there is also the opportunity to rent the expert advisor, you can rent it for 6 months which will cost you $10, you can also rent it for 1 year which will cost you $15. There is also a free demo version available, this demo version is limited to only using the CADCHF pair.

Conclusion

Unfortunately, there aren’t any reviews available on the expert advisor, there are a few comments, but all but one are from the creator and the creator ignored the one comment that was from a potential customer which is never a good sign. We would highly recommend that you use the demo version, even though it is only usable on the one pair, t least it will let you know whether the functions work and for you to see that it will meet your own trading needs.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/11203

Categories
Forex Service Review

River EA Trading System Review

River EA can be found within the EA section of the MQL5 marketplace. It was created bt Smart Forex Lab and was uploaded to the marketplace on the 12th of August 2019, it has received a number of updates and was updated on the 25th of August 2019 and is not at version 3.0.

Overview

River EA is an expert advisor that can be sued with the MetaTrader 4 platform, it works by looking at moving averages and Fibonacci levels, it also uses risk management for account safety.

Some of the key features of the expert advisor:

  • Dangerous & risk strategies free: no grid, no averaging, no martingale, etc.
  • Split Mode, Trailing & Dynamic Stop
  • Manual-, Auto- & Risk Lot
  • Strict money management
  • The recommended settings for the EA are:
  • Min deposit: $100
  • Recommended deposit: $500+
  • Account type: ECN
  • Leverage: 1:400+
  • VPS is recommended
  • Use a rebate service

In terms of parameters, there are various options including magic up and down, max spreads, max lot sizes, lot type, risk factors, reverse options, starting levels, take profits, trailing stops, and more.

Service Cost

The expert advisor will currently cost you $195 to purchase it outright, this will get you up to 7 activations of the software with no other limitations. If you would prefer to rent the EA, you can do this on a monthly basis for $40 per month, for three months it will cost you $60 and for six months it will cost you $90.

There is also a free demo version available, this version will have a lot of limitations and due to there being no information on it, there is a possibility that it can only be sued with the strategy tester within MT4.

Conclusion

There are four user reviews at the time of writing and they have given the expert advisor an overall rating of 5 out of 5.

“I bought River expecting it to be as profitable as Candelabrum has been for the last year. So far, I’m not disappointed. The results are very positive.” – A 5-star review.

“So far so good. Good Results! Thank you, Aleksei! Update: very good Results. Aleksei is the best!“ – A 5-star review.

“Great EA, consistent profit and no martingale…” – A 5-star review.

The reviews are all very positive which is great to see, there are also a number of comments, the developer has been very active within the comment sections, adding their own information and also replying to any questions or comments from people who are currently using the EA, this is a great sign and shows that you will be able to get some support should you decide to purchase or rent the EA.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/41178

Categories
Forex Service Review

SpikeTrader Expert Advisor Review

Spike Trader can be found within the Experts category if the MQL5 marketplace, it was created and uploaded to the marketplace by Tomas Kremen on the 15th of March 2020, it has not had any updates and so the software is still at version 1.0.

Overview

SpikeTrader is an expert advisor that Tomas Kremen developed for the MetaTrader 4 trading platform, the EA was developed o find spikes in the market prices and then to follow their direction to find even bigger spikes in prices. It uses the HTF filter (which is used to calculate the main trends on the higher timeframes by using multiple indicators) to help filter out spikes that are not in the direction of the main trend in the market. Once all conditions have been satisfied, the EA will open up a grid of pending orders in the direction of the discovered price spike.

Looking through the settings, it appears that the EA uses a grid-based system which can be a little risky, this will continue to open up trades in one direction if the price is moving against it, it will open up an unlimited number of trades if it is continuing to move against the trades, this can lead to very large drawdowns and can even blow smaller accounts, it is a strategy that you should use with caution and to continually monitor.

The EA is recommended to be used with the EURUSD currency pair and on the M5 chart, it has not bee optimized for any other options, but may still work. It is also recommended that you have at least 2000 EUR as a starting account balance.

Some settings come with the EA which can be altered. Some of these include magic numbers, base lot sizes, maximum lot sizes, option to raise lot sizes, trailing stops, take profits, stop losses, max spike size to use, max number of open positions, and many more options.

Service Cost

The SpikeTrader EA can be purchased with a single payment of $99, this will get you up to 5 activations of the software with no other limitations added to it. If you would prefer to ren the EA, this can be done on a three-month basis and will cost you $49 for that period, for six months it will cost you $69 and for a one-year rental, it will cost you $89 for the year.

There is also a free demo version available, this version is limited to only being used with the strategy tester within the MT4 trading platform and cannot be used on a live account.

Conclusion

There aren’t any user reviews or ratings which is a shame as these are often a great way to find out whether the EA functions how it is meant to and whether people are finding it profitable or not. There is one comment, this is from the developer who is providing some additional settings files, this is great as it shows that they are still actively supporting the EA and should be round to offer support should you need it after making a purchase or a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47303

Categories
Forex Service Review

Venom Scalper EA Review

Venom Scalper can be found on the MQL5 marketplace and was created by Pavel Yakovlev, it was first uploaded on the 23rd of March 2017 and was most recently updated on the 28th of November 2017, the expert advisor is currently on version 1.44.

Overview

Venom Scalper is an expert advisor for the MetaTrader 4 trading platform, it was designed to work with strong market movements. It will not use strategies like hedging, martingale, grid, arbitrage, or anything else like that. The EA is based around breakouts from the key levels of supply and demand.

The developer has noted a few requirements that are required for the expert advisor to function properly:

-An account with low spread and without restrictions on the setting of stop/limit levels is required for the correct operation of the EA. The lower the spread and commission, the greater the profit.

-Modeling quality of no less than 99.0% is required for the correct testing of the EA.
It is necessary to have a stable connection to the broker’s server (or use a high-quality VPS with the lowest ping possible).

In terms of settings and parameters, there are quite a few available, they include things like the stop losses, selection of pairs, take profits, magic numbers, max spreads, slippage, what information to show, lot sizes, trailing stops, trailing stop step sizes, news filters, and more.

Service Cost

Venom Sniper will currently cost you $125 to purchase it outright, this will give you up to 5 activations, there should not be any added limitations to this version. If you would prefer to rent the expert advisor, you can do this on a monthly basis which will cost you $20 per month or for three months it will cost you $45.

There is a free demo version from the MQL5 marketplace, the limitations are not known but this normally means that it may only be used with the strategy tester, it may still be worth trying out prior to purchasing or renting.

Conclusion

At the time of writing, there were 16 reviews giving Venom Sniper an overall rating of 2.5 out of 5.

“Tested Venom Scalper on 2 different months with 4 different brokers simultaneously on EURUSD, USDJPY, and GBPUSD. All testings were made with VPS on less than 5 ms latency. Unfortunately, the net results in any given period were negative.” – A 2-star review.

“If you have one doubt about this Venom Scalper, look on my signal. 30 days on demo applied, Definly Mrs. Pavel make an excellent Scalper EA, but you needed BE patient. h1 is a buda meditation. Nice EA Nice Programmer Thanks Pavel, let’s buy after rente one month. 🙂 6 stars Great full.” – A 5-star review.

“Only for demo account best work, not real account best work” – A 1-star review.

So a mix of opinions with the reviews, a few people were having issues with the results while others seemed to be getting the results expected. There are over 100 comments, the developer has been replying to the majority of the comments which shows that they are still actively supporting it which is great. We would suggest double-checking the functions with the developer to ensure that it will do what you need it to do before you make a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/21956

Categories
Forex Service Review

Probability Yield Forex EA Review

Probability Yield EA can be found within the Experts section of the MQL5 marketplace, it was created by Mikhail Kornilov and was first uploaded to the marketplace on the 30th of March 2020, it received an update on the 4th of April 2020 which brought the EA up to version 1.2.

Overview

Probability Yield EA is an expert advisor for the MetaTrader 4 trading platform, it was designed to work as a trend EA that is based on working out the most probable direction of the moving prices. The EA will use an equal value for the take profits and stop loss level, trailing stops are also used to help improve efficiency.

Some advantages of the EA:

  • It is designed for middle-term trading
  • It has fixed levels of stop loss and take profit01
  • It will work with all currency pairs
  • It has fast optimization

It is recommended to use a deposit of at least $100 and to use the EA on the M15 timeframe, there are no limitations to the type of account you can use or which currency pairs to use the EA on.

In terms of parameters, there are a few available, these include the lot sizes, risk to use, whether to use fixed lots, magic numbers, TP and SL sizes, MA periods, and more.

Service Cost

The EA will cost you $160 to purchase it outright with a one-time payment, this will get you 5 activations of the EA with no other limitations. There is also the option to rent it for a three month period which will cost you $70 for those free months, A free demo version is available, this is only usable with the strategy tester within the MetaTrader 4 trading platform and cannot be used on a live account.

Conclusion

There are currently no user reviews or ratings so we do not know whether people are finding the EA profitable or whether it is doing what it is intended to do, there is one comment available which if from the developer themself offering a new setting sheet for the EA, due to this we would suggest contacting them, just to make sure they will be there should you decide to get the EA and then need some support.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47812

Categories
Forex Service Review

CAP Rebate Trading EA Review

CAP Rebate Trading EA can be found within the M!L5 marketplace under the Experts setting, it was created by Mohammad Ali and was first uploaded to the marketplace on the 12th of March 2020, it has not had any updates, so the software is still lat version 1.0.

Overview

CAP Rebate Trading EA is an expert advisor that was developed for the MetaTrader 4 platform, it is an automated trading EA that uses a high-frequency grid system, this means that it will open up multiple trades in the same direction if the market is moving against your trades, as a high-frequency grid system, it will open up a lot of trades, this can be dangerous as when the markets do not come back in, it can cause a lot of drawdowns and also potentially blow accounts.

The EA was created to work as a way to generate rebates from your broker, either with them directly or via an external rebate program, rebates are often paid when a trade is opened and then closed and part of the spread or commission is paid back to the trader. It should be noted, that a lot of brokers do not like this sort of trading and many have banned it, so you have had your rebates voided if the broker deems that you are trading only for rebates.

The EA will use both grid-based systems as well as hedging so it can work with both a ranging market and a trending market. The EA uses a basket profit system in order to exit out of trades, this means that as the trades go against you, it will open up slightly bigger trades, as the price then comes back in, it will close out all the trades at the same time as they go into profit.

Some of the main features:

  • Easy to use
  • The advanced grid system that can be work both ranging and trending market
  • Works for ECN/non-ECN brokers
  • Implements a martingale features
  • Filter trading by forex sessions
  • Built-in money management
  • Built-in news filter. EA automatically downloads news data from a news website

There are also plenty of parameters available to alter, these will slightly change the way that the EA functions and can be used to make the EA safer or riskier depending on your own taste. Some of the available options include the option to stop the EA, the initial trade tyle and trade size, whether to use fixed lots or multipliers, the grid size between trades, the maximum lot size, the basket profits and losses in currency and the maximum number of daily trades, there are a few others available too.

Service Cost

The CAP Rebate Trading EA is at a very affordable $30, this is an outright purchase of the Ea that will give you up to 5 activations of the software, unlike many EAs in the MQL5 marketplace, there is no option to rent this one so the purchase is the only option available. There is a free demo version, this is limited to being used with the strategy tester within the MT4 platform only, it cannot be tested on a live account.

Conclusion

There are three user reviews that have been provided by those that have used the EA, they have given it an overall rating of 3 out of 5.

“From the test to a great system Is a very intelligent development camp support and encourage you to develop.” – A 5-star review.

“It’s not good in trending market” – A 2-star review.

“Not working In US broker” – A 2-star review.

The two different 2-star reviews are a little unfair, it was clear before purchasing that the EA would not work on a US broker due to not following FIFO rules, it was also clear that it would not be good on a trending market, however, the EA should have some built-in defense against this, it claims to have hedging but this review indicates that it may not be working perfectly. There are no comments available so the support fro the developer is not known, you could always drop them a comment to check that they are still supporting the Ea before you make a purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47005

Categories
Forex Service Review

Scalpe ECN Expert Advisor Review

Scalpe ECN is currently found within the Experts section of the MQL5 marketplace, it was first uploaded to the marketplace on the 25th of March 2020 by its creator Tuong Bul Xuan. The software has received two updates since being live and is currently at version 1.4.

Overview

Scalpe ECN is an expert advisor that can be used with the MetaTrader 4 trading platform, there isn’t much information provided about how the EA actually works which is a little strange.

As far as we could work out, the EA uses Japan Candle Stoicks along with a form of AI to find the trades, it is recommended that you have an ECN broker, the EA will add a small stop loss on each trade, the EA is best used on the JPYUSD, EURUSD and GBPUSD pairs on the M1 timeframe.

The main settings that come with the EA are the starting lot size, the minimum lot size, the maximum spread allowed, and the stop loss in pips.

Service Cost

The Ea will cost ou $500 to purchase so it is quite an expensive one, surprising that such an expensive EA has so little information available about how it actually works. Should you decide to purchase it you will be able to activate the software up to 5 times. There are options to rent the EA, this can be done on a monthly basis which will cost you $50 per month, you can also rent it for a three month period which will cost you $100 per month.

There is also a free demo version, this can only be used with the strategy tester within the MT4 platform rather than being tested on a live account.

Conclusion

There are no reviews or ratings from people who have purchased the EA, this makes it hard for us to know whether people are finding it profitably or if it even does what it is meant to do. There are also no comments available so the sort of support that is being offered is also unknown. Due to bot hof these factors, we would strongly suggest contacting the developer before you make a purchase or rental, this will give you the opportunity to ensure that it will function how you need it to and that the developer will still be around to offer support should you need it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47622

Categories
Forex Service Review

Moving Average Trend Filter EA Review

The Moving Averages EA is an expert advisor currently found on the QUIVOfx website, there are a few different versions of it, the basic and advanced versions are currently on version 2.02, while the Pro version is currently on version 2.03. There are multiple expert advisors with very similar names, we are focusing on the one found on the QUIVOfx site.

Overview

This expert advisor focusses on moving averages to make its trades, a simple moving average is calculated on the Average of the desired closed price of each candle. The Moving Average indicator has 4 different methods of calculation. Simple, Exponential, Smoothed, and LinearWeighted. The default period setting is 14. There are various functions to allow you to slightly alter the way the expert advisor works, this way you can adapt it to suit your own style of trading.

The expert advisor is currently designed to work with MetaTrader 4 and does not currently work with any other trading platform, there are three versions of the expert advisor, the basic, advanced and pro versions, each one comes with slightly different features that we have outlined below.

The basic version comes with a money management system, the ability to trade on a new bar, an inverse strategy, MA trend filters, and additional ma trend filter settings.

The advanced version comes with everything tat the basic version does, as well as the ability to use a trailing stop, a break-even system, and spread filters.

The Pro version comes with everything that the basic and advanced versions do as well as a martingale strategy, candle trail, STR trails, a da/time filter, the ability to reverse on opposite signals, and a trade direction feature.

Service Cost

The basic version of this expert advisor is free, which the advanced version costs CHF 29.90 and the Pro version costs CHF 39.90. There isn’t a specific demo version of the top tier versions, but as the basic version is free to use, this can be used as a way to test out the expert advisor.

Conclusion

The website doesn’t provide any written reviews from their clients, however, there is a rating system that currently has 201 different ratings, the average rating is 3 ½ stars which is ok. This shows that some clients are enjoying the expert advisor while others are not getting the full functions out of them. We could not locate any written reviews around the internet for this specific expert advisor due to there being multiple with similar names.

This Forex service is currently available on the following website: https://quivofx.com/expert-advisor/moving-average-ea

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Forex Service Review

MQL Trendline EA Review

First uploaded on the 13th of August 2014, MQL Trendline EA was uploaded by its creator Martin Eshleman, it received its most recent update on the 9th of December 2015 and is currently at version 1.10.

Overview

MQL Trendline EA was created for the MetaTrader 4 trading platform and was designed to be a semi-automatic trader that is based on trend lines and horizontal lines that have been manually plotted onto the lines by the user or another indicator. The expert advisor can handle as many lines as you need to use and can work with each line differently based on settings and keywords added by the user.

A number of different strings and parameters are available to use, these include things like the take profits, stop losses, alerts, timers, lot sizes, slippage, spreads, and more.

A few notes from the developer:

  • Once a trade or alert occurs, the EA will delete the line since it did its job already.
  • All alerts are standard MetaTrader alerts.
  • The keywords are NOT case sensitive.
  • EA can be tested in the back tester in visual mode the same way as in live trading.
  • The lines can be adjusted or moved on the chart even during EA operation.

Service Cost

It will currently cost you $75 to purchase MQL Trendline EA with a one-off purchase, this will give you 5 activations of the indicator with no further limitations. Unlike many EAs in the MQL5 marketplace, there is no option to rent the expert advisor. There is a free demo version available, however, its limitations are not known, this normally means that it is only usable within the strategy tester, however, it would not hurt to download and try it out if you are thinking of purchasing the software.

Conclusion

There is only one review available which is giving the expert advisor quite a negative rating.

“I purchased this product and downloaded it to my laptop. I need this on my desktop. I reached to the developer who is not willing to support this simple process, unlike other developers. MQL5 does support multiple activations but the developer is not willing to spend the time. I will change my review only when I received the level of support required for my request.” A 1-star review.

So the review is more around the lack of support being received from the developer, looking at the comments section, it is clear that the developer has been replying to the comments as well as the same person that provided the review. So we believe that the review was done out of malice rather than actual issues. The developer has been responding well and shows that he is willing to keep on supporting the product and its users. We would advise you to send any queries or questions that you may have to them so you can be sure that the expert advisor will do what you need it to do prior to purchasing it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/5541

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Forex Service Review

Multi Currency Brain MT4 EA Review

The Multi Currency Brain scan is found within the expert advisor section of the MQL5 marketplace, due to there being so many expert advisors with similar names, we have added a link to it below. Stanislau Siatsko is the creator of this expert advisor and it was first uploaded on the 20th of December 2019, there have been a few updates, the most recent update was on the 23rd of December 2019 and this brought it up to version 3.7.

Overview

The Multi Currency Brain is an expert advisor that can be used with the MetaTrader 4 trading platform.

Some of the features of this expert advisor:

  • Hedging two correlation pairs
  • It uses the correlation of interacting pairs (both direct and inverse)
  • It takes into account the strength of each currency in each direction
  • It applies multidirectional strategies (Breakout – Rebound)

The Multi Currency Brain works by using 4 different ligaments (8 different currency pairs), with 2 being directly correlated, and 2 inversely correlated. The expert advisor works with the following pairs: GBPJPY, EURUSD, EURJPY, GBPUSD, GBPAUD, NZDCHF, EURNZD, AUDCAD, there are additional sets of currencies also available. Just one trade will open, but a hedging position will open would that first trade go into a negative. The expert advisor should be used on the 1H chart.

Service Cost

The Multi-Currency Brain has quite a heft price tag, it will currently cost you $5,000 to purchase, it has over 8-0 activations so plenty of people have purchased it. There are no options to rent it, however, there is a free version available too, the actual limitations to the free version are not displayed or mentioned on the site.

Conclusion

The Multi Currency Brain currently has 29 user reviews for it, these reviews combined have given it a rating of 4.5 out of 5 which is a very impressive score.

“I purchased and trading live with Multi Currency Brain. It is not difficult to reach profit if you set GLOBAL_Profit is 0.5 or 0.6 for set-N1. This EA is unable to make a huge profit rapidly but is safe and build your capital slowly by years to years.” – A 5-star review.

“9/3/2020 UPDATE: LOL. Its a joke. The author signal showed that the EA current has 11% return with 47% max DD. I am glad that I stopped using it earlier. It has no strategy at all. It just opens a small position and hopefully, it closes in profit. Otherwise, it will just hold it and wish that it will be closed in profit one day.” – A 1-star review.

“Really amazing program I am using it in my live account and it is really nice it and the and Siatsko is always present if I have some doubt about the program or the setting.. Thx” – A 5-star review.

So as you can see, there are a couple with some negative, but the vast majority are all positive, the comment section also has plenty of comments, the creator is replying to some of them but not all. As with any indicator, we would recommend that you download and install the free version, this will give you a better understanding of how it works and can be sure that it suits you needs prior to making a purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/44409

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Forex Service Review

Time Exit FX EA Service Review

Time Exit EA can be found within the Experts section of the MQL5 marketplace, it was first uploaded to the marketplace on the 30th of July 2015, it had an update on the 13th of June 2016 which brought it up to version 1.1.

Overview

Time Exit EA as the name suggests is an expert advisor, it can be used with the MetaTrader 4 trading platform. Its main purpose is to close all trades automatically at a specific time each day, this can be used to help avoid swaps at the end of the day, or to close out shortly before a major news event.

The EA should be attached to a separate chart within the MT4 platform, it will then begin to monitor that trades that are currently active or that are opened afterward. The EA will only function on currency pairs for the chart that it is attached to, so you may need to have it active on multiple charts, it will close all pending and open orders, however, there are options available to adjust this.

The parameters that come with the EA alter the way it functions, some of them include to enable the timed exit, what time to exit, magic numbers, which currencies to use, slippage, and the dashboard display and colors.

Service Cost

The expert advisor can be rented on a yearly basis which will cost you $15 for the year, there are no other rental options and there is also not the opportunity to purchase it outright. If you decide to rent it, you will get up to 5 activations of the software. A free demo version is available, as there are no details about it on the site, we believe that it may only be used with the strategy tester within MT4 rather than as a full demo version.

Conclusion

There are three user reviews available for the Timed Exit EA, they have given it an overall rating of 5 out of 5.

“Solid execution” – A 5-star review.

“Fantastic piece of software! Five stars!” – A 5-star review

“Tested. It works fine.” – A 5-star review.

There are also a number of comments, these are from people who have rented the EA and are now asking questions about it, the developer of the EA had originally been replying to most replies back in 2016, however, any comment from 2017 onwards they have not replied which is not a great sign, due to the lack of replies, we would strongly suggest that you send any questions or queries that you have to the developer, this is a way to check that it will do what you need it to, but also a way to ensure that the EA is still being actively supported before you make a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/10911

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Forex Service Review

SAAD TrendTracker EA Review

SAAD TrendTracker was created by Adnan Iqbal and as first uploaded to the MQL5 marketplace on the 11th of November 2016, it has had a number of updates, its most recent update was on the 17th of January 2018 and is currently at version 3.6.

Overview

SAAD TrendTracker is an expert advisor for the MetaTrader 4 platform, it is a fully automated EA that is based on the algorithms of the Trend Tracker indicator and SAADScalper.

The EA has been designed to work on the M1, M5, M15, and M30 timeframes, it will also use the daily chart to look for more accurate trades. If a trade is not successful then it will use the H1 chart to alter its strategy to bring the trades out in profit.

Some recommendations from the developer:

-For backtesting, please make sure you must have historical data for TF under testing, Daily, and H1 for time duration to test to get accurate results.

-This EA takes a decision at the closing of a candle, you can perform a test on open prices.

-Best currency pairs that are less volatile and most of the time ranging: EURUSD, AUDUSD, AUDJPY, USDJPY, EURAUD, etc.

-Split your lot size into 5 or 6 pairs instead of taking a high risk on one currency pair: Run EA for TF M30 on 5 to 6 currency pairs.

-There are plenty of settings and parameters available to alter. Some of them include the account type, lot sizes, target pips, take profits, stop losses, magic numbers, trailing stops, when to start or stop trading, and many more.

Service Cost

The SAAD TrendTracker expert advisor can be purchased outright with a one-time payment of $99, this comes with up to 10 activations and no other limitations. Ther eis also the option to rent the expert advisor, this can be done on a monthly basis which will cost you $19 per month, there is also a three-month option which will cost you $39 for the three months.

A free demo version is also available but the limitations are not stated on the site, this normally indicates that it can only be used with the strategy tester and not a full testable version.

Conclusion

Over 30 reviews are available for the SAAD TrendTracker, the users have given it an overall rating of 4 out of 5.

“Installed the EA on 10 pairs. Back-tested as some of the pairs suggested didn’t work, such as EURUSD. Works on 1m to 4 hr TF. Has been very profitable through live trading so I recommend it.” – A 4-star review.

“Genius, simple and effective. You can pretty much leave the EA alone to do it’s job. Have patience and try not to meddle, it will make your trades and it will make you profit. Great concept, good work. Thank you!” – A 5-star review.

“Very bad, very large loss because there’s not stop loss, the trades are quite different from the author.” – A 1-star review.

So a wide range of opinions based on the reviews, however, the vast majority of the reviews are 4 or 5 stars which are a good sign. Over 1,200 comments, the developer has been seen replying to the majority of them, and with so many comments that show a lot of dedication towards supporting the expert advisor and this is a very positive sign for the sort of support that you will receive should you decide to purchase or rent the SAAD TrendTracker EA.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/19082

Categories
Forex Service Review

Scout Forex EA Review

Scout is a piece of software that is currently located in the Experts section of the MQL5 marketplace, there may be other expert advisors with similar names, due to this we have provided a link below so you know exactly which expert advisor we are looking at. Created and uploaded by Cutting Edge Forex LLC on the 15th of February 2020, it has already received a number of updates, the most recent of which was on the 13th of March 2020, this brought the expert advisor up to version 1.5.

Overview

Scout is an expert advisor that can be used with the MetaTrader 4 trading platform, its main goal is to create a synergy between proven strategies and position management. It does not use martingale, averaging, grids, scalping, or any other strategies like that.

The main features available with the Scout expert advisor:

  • Support/Resistance and Volatility are compounded into one super trading system
  • Dynamic Initial Target Profit and Stop Loss set for each order and position
  • Every position is managed as it’s own
  • Multiple position management functions to capture the most profit
  • Intelli-Trail Stop Loss. In house algorithm to let profits run and run
  • Advanced Position Targets exit trades at multiple profit levels
  • A true set and forget
  • Always adapting to current market conditions
  • Sleep great knowing your account is safe

https://youtu.be/BfmyGVp7zVo

There are plenty of settings available, these can drastically alter the way that the expert advisor works and it can be altered to suit your own trading style and needs. Some of these options include enabling volatility strategies, maximum open positions, risk settings, lot sizes, active periods, creative periods, divergent factors, trend periods, lead periods, follow periods, max/min take profits, max/min stop losses, and more.

There are also options for the support and resistance strategies such as max positions, lot sizes, risk factors, take profits, stop losses, percentage to target, magic numbers, Friday exit hour, trailing stops, and many more.

Service Cost

The indicator can be purchased for $499 which makes it quite expensive, this will enable you to use it indefinitely and without any limitations. If you do not wish to spend that much, you are also able to rent the expert advisor on a yearly basis, it will cost you $299 per year and it will need to be paid again to use it for a second year. There is a free version available, this will have some limitations though, unfortunately, we do not currently know what the limitations are.

Conclusion

There are only two reviews available for the Scout expert advisor, both of them are giving it a 5 out of 5 ratings.

“Just brought this EA, backtest look good! will put to real acc to test.” – A 5-star review.

“This is an excellent ea. The backtests are very good and it makes a profit on a weekly basis.” – A 5-star review.

Just the two reviews being available does not give a huge indication to the expert advisors effectiveness, however, both of them being 5 our of 5 is a good start, there are a number of comments also available, the creator f the expert advisor is reposting the comments in a prompt manner which is a good sign as to the kind of support that you will receive. We would strongly suggest that you download and try out the free version of the expert, especially as there are so few reviews, this will enable you to test it out and make sure that it functions in the way that you nee dit to prior to making a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/46202

Categories
Forex Service Review

McDuck Forex EA Review

McDuckEA can be found on the MQL5 Marketplace under the Experts heading. It was created by Viktor Shpakovskiy and was uploaded to the marketplace on the 13th of March 2020, it has received a few updates, the most recent of its updates was on the 9th of April 2020 and this brought the EA up to version 3.0.

Overview

McDuckEA is an expert advisor that was designed to use with the MetaTrader 4 platform, it works by using the martingale strategy along with a choice of other trading modes such as trading flats, trends or automatic selections. It also has a choice of different risk management including stop-outs, take losses, free margin controls, and more, and it will automatically determine the trend direction.

Some of the main features of the EA include:

  • Three modes of trading – flat, trend and automatic
  • A selection of lot options – standard, economical and same
  • It has additional moving average filters when opening martingale orders
  • It can average orders including those opened by the trader manually
  • It has its own Stop Out and closes when reached
  • Closes all orders and stops working until the next H4 bar opens
  • It uses common and standard stop-loss
  • You can limit the number of open orders
  • You can add restrictions on the total lot size of all open orders in one direction
  • The EA works on both dollar (USD) and ruble accounts (RUR)
  • The EA works on accounts with quotes of 4 and 5 decimal places and on cent accounts

There are also plenty of parameters that come with the EA, these include things like magic numbers, which sort of positions to open (long or short) timeframes to use, whether to trade flats or trends, whether to use moving averages, stop loss levels, take profit levels, what time to shutdown, to use trailing stops and more. There are also parameters specific for the martingale strategy including lot multipliers, step between orders, the maximum number of orders, and more.

Service Cost

The McDuckEA will currently cost you $139 to purchase it outright, this will get you 10 activations of the expert advisor with no other limitations. Unlike many EAs on the MQL5 marketplace, there is no option to ren the EA, there is however a free demo version to try, but this will be limited to use only with the strategy tester within the MT4 trading platform.

Conclusion

There are no comments or reviews from users so the EA currently does not have a rating, this means that we do not know whether users have been finding the EA helpful or whether it is profitable for them. There are 5 comments,s each one is from the developer themselves giving new settings or videos outlining the features which are good to see as it shows that they are still actively supporting the EA.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47398

Categories
Forex Service Review

BF Scalper Pro Expert Advisor Review

The BF Scalper Pro is an expert advisor that can be found within the MetaTrader 4 section of the MQL5 marketplace, there may be other expert advisors with similar names so we have provided a link to the one we are looking at to help avoid any confusion. The expert advisor was first released by Lachezar Krastev on the 6th of February 2019, it has had various updates since then and is now at version 1.5 which was updated on the 21st of January 2020.

Overview

The BF Scalper Pro is an expert advisor designed to be used with the MetaTrader 4 trading platform, the expert advisor uses breakouts and Bollinger Bands to work out its entry and exit signals. The Pro version (this one) also has additional exit logic which can reduce the drawdown, it also has a new ATR based stop loss calculation and algorithm.

The primary features of BF Scalper Pro:

  • A strong, pure and simple trading logic
  • Reasonable TP and SL levels – plus new ATR based algorithm
  • Low drawdown
  • Solid 18-year backtest performance
  • Multiple currency pairs support
  • Advanced News Filter
  • Volatility filter
  • New, improved, highly effective exit logic
  • Email and Push Notification system
  • Friday Exit System
  • Grid System (optional)
  • Trailing Stop System
  • Recommended timeframe: M15
  • Recommended backtest method: M15 by every tick

Supported currency pairs include GBPUSD, EURUSD, EURCHF, EURAUD, EURCAD, GBPCAD, USDCAD, USDCHF, and USDJPY.

There are also a host of settings that can be changed to help alter the expert advisor to suit your own needs, these include things like fixed lots, maximum spreads, slippage, take profits, stop losses, and more.

Service Cost

The BF Scaler Pro expert advisor can be purchase outright with a payment of $117 (this is actually an offer, the original price is $147), this will get you unlimited access to the software, unlike many expert advisors on the MQL5 marketplace, there is no option to rent this one. There is a free version of this expert advisor available which does not have as sophisticated exit algorithms, but can be used to test out the software.

Conclusion

There are currently 18 different reviews available for the BF Scalper Pro advisor, the overall rating is 3.5 out of 5 which shows that while it may work for some, others may not be getting the results expected.

“A very bad EA, all history is predefined to show awsome backtest results if you think only to change the time frame with 1 hr it will always lose. I asked MQL5 to refund my money after one day of purchase it but unfortunately, they did not respond!! Stay away and do not lose your money.” – A 1-star review.

“After using BF Scalper PRO I am impressed. I hope the EA performs so good also in the future.” – A 5-star review.

“A very dangerous trading system. Makes very small profits with BIG drawdowns. Works for a month or two and then it crashes. Do not buy it and don’t say you have not been warned.” – A 1-star review.

So as you can see, for some, it works and others not, however with many expert advisors like this, it can work for a while, but then the trading conditions go against you they can struggle. We would recommend that you download the free version of this expert advisor, test it out, make sure it works, preferably for an extended period prior to making a purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/34455

Categories
Forex Service Review

Candle Pattern (Japanese Candlestick) EA Review

Candle Pattern is currently found on the MQL5 marketplace under the Experts category. It was first uploaded on the 8th of July 2015 buy its creator Atthias De Polis, it has not had any updates so the EA is still at version 1.0.

Overview

Candle Pattern is an expert advisor that can be sued with the MetaTrader 4 trading platform. It is based on Japanese candlestick patters and is able to detect a large number of patterns within the markets. The EA works with three different trend indicators and each one has its own parameters and settings. The indicators help the EA to work out whether the trend will move up or down.

It can trade on any currency pair, metals and stocks, all timeframes are also supported.

The indicator has a whole host of patterns that it can detect:

Bullish Pattern:

Bullish Engulfing, Piercing Pattern, Morning Star. Dragonfly Doji, Three Line Strike (bullish), Hammer, Harami Cross (bullish), Harami (bullish), Three Star In The South, Three Outside Up, Three Inside Up, Inverted Hammer, Three White Soldier, Own Pattern (bullish).

Bearish Pattern:

Bearish Engulfing, Dark Cloud, Evening Star, Gravestone Doji, Three Line Strike (bearish), Shooting Star, Harami Cross (bearish), Harami (bearish), Deliberation, Three Outside Down, Three Inside Down, Three Black Crows. Hanging Man. Own Pattern (bearish).

There are also some parameters that can be altered, these include magic numbers, slippage, money management, fixed lot sizes, whether to sue moving averages, to use RSI, downtrends, uptrends, stop losses, take profits, trailing stops, and more.

Service Cost

The Candle Pattern EA will cost you $709 to purchase it as a one-off payment, there is also the option to rent it, this can be done on a monthly basis and will cost you $30 per month, whichever option you choose, you will get up to 5 activations of the EA. A free demo version is also available but this can only be used with the strategy tester within the MetaTrader 4 platform.

Conclusion

Unfortunately, the Candle Pattern EA does not have any user reviews so we do not know whether people are finding it useful. There are two comments, the developer has not replied to either of them which is not a great sign of the sort of customer support that you may receive. We would suggest trying to get in touch with the developer, so you can be sure that the EA will do what you nee dit to do and also that they are available to offer support should you need it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/10356

Categories
Forex Service Review

Analyst Bot Expert Advisor Review

Analyst Bot is found on the MQL5 marketplace under the Experts sub-heading, it was created by Ivan Simonika and was uploaded to the marketplace on the 16th of March 2020, it was uploaded as version 1.0 and has not received any updates so it is still at version 1.0.

Overview

Analyst Bot is an expert advisor that was created for the MetaTrader 4 platform, the EA was created to use a number of moving averages indicators to try and search for the signals to enter the markets. It is a fully automated EA so there is no need for any manual actions once it is set up and running. The EA will look at the historical gaps between the year 2000 to 2019. The EA is different from many EAs as it can trade both buys and sells at the same time rather than just a single direction that many EAs do, this allows the EA to perform better than many others as it can take far more opportunities in the markets.

There are a number of different parameters and settings available that you can adjust, these will alter the way that the EA functions so it can better suit your requirements and it is also a way to either increase or reduces the risk that you are taking. Some of the options available include the risk to take, this is things like the starting lot sizes, and maximum sizes allowed, there is a standard risk, medium risk, and high risk and critical risk available.

There are also additional options available which include the lot sizes, maximum number of open trades, the starting lot size, the amount of volume to add for each subsequent trade, the amount of the account to risk, take profit options, stop loss options, the grid step to take, magic numbers, comments and more.

Looking through the options available, it looks like the Ea uses a grid-based system that can be quite dangerous to use, the grid-based system will open up a trade, if the markets move against the trade, it will open up another trade wither of the same size or at a larger lot size, it will then continue to do that in the hope that the markets reverse, if they do not, the drawdown will continue to grow exponentially until the account blows, it is a dangerous strategy to take and for it to be successful you will need a very large account, so take caution when setting git up.

Service Cost

The Analyst Bot Ea can be purchased from the marketplace for $127, this is a one-time payment that will get you up to 5 activations and no other limitations. Many EAs on the MQL5 marketplace can be rented but the developer has not given the option for the Analyst Bot so it can only be purchased outright. There is a free demo version available to download and try, but this can only be used with the strategy tester within the MetaTrader 4 platform and cannot be tested on a live account.

Conclusion

At the time of writing, there are no user reviews or comments, so it is hard to judge whether the EA is functioning as intended or whether it is profitable, the EA is relatively new at the time of writing so many may not have had the opportunity to test out the EA. Due to this, we would suggest that you try to contact the developer with any questions or queries that you may have. This is a way to ensure that the Ea works the way you need it to and that the developer will be around to offer you support should you need it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47329

Categories
Forex Service Review

Renko Arman EA4 Review

Renko Arman can be found within the MQL5 marketplace under the Experts heading. It was created and uploaded by Samir Arman on the 29th of March 2020, it has not had any updates yet so it is still at version 1.0.

Overview

Renko Arman EA4 is an expert advisor for the MetaTrader 4 trading platform, its main purpose is to work with Renko charts, not a lot of information has been given about the EA.

The developer has given a few recommendations when using the EA:

  • It is best used on the EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, and more
  • Use with any currency with spreads under 8 pips
  • Timeframe recommendations are not fixed
  • Recommended leverage of 1:400 or more
  • A minimum deposit amount of at least $1000 per 0.01 lots size

There are also some parameters available to fiddle with, these include the lot sizes, auto lot management, maximum risk to use, take profit levels, stop loss levels, time to start and finish trading, magic numbers, and more.

Service Cost

The EA will cost you a huge $1000 to purchase it outright, this is a big investment and will allow you to activate the EA up to 5 times. There is an option to rent it, this can be done on a monthly basis and will cost you $300 per month. A free demo version is also available to try out, but this can only be used with the strategy tester of the MT4 platform rather than on a live account.

Conclusion

At the time of writing, there were no user reviews or ratings for this EA, this makes it hard to know whether people are finding it useful or if it functions at all. There are also no comments from users or the developer so we also do not know whether it is being actively supported. Due to its high price, we would very strongly suggest getting in contact with the developer before making a purchase, this way you will be able to make sure that it works for you and that it will be supported should you need any help.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47814

Categories
Forex Service Review

Molecule Forex EA Review

Molecule can be found on the MQL5 marketplace under the expert advisor section, it was first uploaded on the 27th of December 2019 by its creator Andrey Kolmogorov, it has received an update since its original upload on the 24th of February 2020 and is currently at version 1.1.

Overview

Molecule is an expert advisor that was crated for the MetaTrader 4 trading platform, it is an advisor that will analyze the markets to place trades. There isn’t actually a lot of information on its functioning or how it actually finds its trades which is strange to see.

Some of the key advantages of the expert advisor:

  • The EA does not use Martingale (Default sets)
  • The minimum starting deposit is $100
  • No need to close the robot during news releases
  • It works with 4 and 5-digit quotes
  • A constructor of unique strategies
  • Adaptive algorithm

In terms of parameters and setting,s there are a fair few available, they include when to start trading, take profit levels, stop loss levels, maximum spreads, slippage, magic numbers, RSI periods, the maximum number of orders, lot sizes, the risk to use, to use trailing stops, and many more.

Service Cost

It is quite an expensive expert advisor, it will cost you $890 to purchase it outright, this will give you up to 10 activations with no added limitations. There is also the option to rent it, you can do this for three months at a time and it will cost you $200 to rent it for the three months.

A free demo version is available but the limitations are not stated on the site so we are not sure what they are. Due to the high costs, we would strongly recommend trying the free version just to make sure that it will do what you need it to do before making the large purchase or rental.

Conclusion

There are three reviews available form its users, they have given it an overall rating of 3 out of 5.

“With this EA you earn very little if you don’t use martingale and therefore don’t take a big risk on your budget. Its price is also too high.” – A 1-star review.

“I’ve bought a robot” – No rating given.

“Profit!” – A 5-star review.

With only three reviews there is a full range of opinions, however, the positive reviews are not giving much information while the negative review looks at the strategies being used and makes it seem quite risky. There are over 40 comments from people who have purchased or rented the expert advisor, the developer has been replying to them quite quickly and the most recent reply was March 2020 so it seems like it is still being actively supported. Due to the high price, we would recommend trying the free demo version, also send any queries that you to the expert advisors creator so you can be sure that it will work for you and that you will be supported, do this prior to making a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/34838

Categories
Forex Service Review

Kratos Robot Forex EA Review

Kratos is found within the Experts section of the MQL5 marketplace, it was first uploaded on the 28th of March 2020 by its creator Georgian Gurita, it has not had any updates since being uploaded and so it is still at version 1.0.

Overview

Kratos is an expert advisor that was developed to be used with the MetaTrader 4 trading platform. It is being advertised as a state of the art tool. There isn’t a lot of information about how it actually functions, the only information available is that it will use high volatility candles to enter the markets, but nothing much else.

A few key features and requirements:

  • Recommended to use with high volatility pairs such as GBPJPY, GBPCAD, XAUUSD
  • It is recommended to use a VPS
  • The EA does not use martingale or coverage strategies
  • It is recommended to use an ECN broker
  • The EA has a maximum drawdown of between 1% and 1.5%

Service Cost

The expert advisor is incredibly expensive and we mean incredibly. In order to purchase it outright with a single purchase, it will cost you $19,000, this will get you up to 20 activations of the software. There is also the option to rent it, this can be done on a monthly basis which will cost you $1000 for the month, for a year worth of usage, it will cost you $6000.

A free demo version is available to use with the strategy tester within the MT4 platform and cannot be tested with a live account.

Conclusion

There are currently no user reviews or ratings at the time of writing this so we do not know whether people are finding the EA profitable or whether it is doing what it is intended to do, there are also no comments from users so we do not know if the developer is offering support, due to this we would suggest contacting them, just to make sure they will be there should you decide to get the EA and then need some support. Due to the incredibly high price, we would recommend asking as many questions as you can.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/46419

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Forex Service Review

Hide Pending Orders FX EA Review

Hide Pending Orders Tool can be found in the MQL5 marketplace and was created by Cuong Plam. OIt was first uploaded on the 4th of September 2015 as version 1.1, it has not received any further updates since it was uploaded to the marketplace.

Overview

Hide Pending Order Tool is an expert advisor that was created for use with the MetaTrader 4 platform, it was designed as a tool to help you hide your pending orders from the brokers.

When you put in a pending order, the EA will copy down the details and then delete it from your account, this will effectively hide the figures from the broker hat you are using, the EA will then execute the pending order when the criteria are met.

The EA will display all pending order information to you so you are able to keep track of the orders that currently have set, allowing you to remove any that you no longer need.

Service Cost

The Hide Pending Orders Tool can be purchased with a one-time payment of $40, this will give you up to 5 activations of the EA. There is not an option to rent the EA, but there is a free demo version, the limitations of the free version are not known so we do not know whether it is worth downloading or not.

Conclusion

There are no reviews for the expert advisor which means that it is hard for us to know whether the EA is doing what it was designed to do or if it is useful for those that have purchased it. There are a couple of comments which are asking questions about the EA, the developer has replied to them, but the most recent one was from 2017 so we do not know if it is still being actively supported. Due to this, we would strongly suggest sending any comment that you have to he developer, this is a way to ensure that they are still around and supporting the EA, and also to find out whether it will do what you need it to do before you make a purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/11615

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Forex Service Review

PZ Trade Manager Pro EA Review

PZ Trade Manager Pro can be found within the MQL5 marketplace, it was created by Arturo Lopez Perez and was first uploaded on the 11th of December 2013, it was last updated on the 13th of September 2017 and is currently at version 8.0.

Overview

PZ Trade Manager Pro is an expert advisor that can be sued with the MetaTrader 4 platform, it is a visual trading panel that can help you to place and manage your trades. It combines an easy to use user interface with a number of risk and position management tools.

Some of the main features of the EA as stated by the developer:

  • Amazingly easy to use
  • Trade easily from the chart
  • Trade with precise risk management, hassle-free
  • Capital preservation is a top priority
  • Let profits run without your attention
  • Enjoy risk-free trades as soon as possible
  • Automatic trailing stops for all opened trades
  • Initial stop losses are placed as soon as trades are taken

There are also additional features such as trailing stops to help you maintain profits and to allow you to use better risk management with the EA.

Service Cost

PZ Trade Manager Pro will currently cost you $99 to purchase, this will get you up to 100 activations. Unlike many EAs on the MQL5 site, there is no option to rent this one so purchasing it is the only option available.

There is a free demo version available, but it does not have any of its details stated on the site, this leads us to believe that it can only be used with the strategy tester within the MT4 platform.

Conclusion

Unfortunately, there aren’t any user reviews or ratings for the EA, this means that we cannot tell how people are finding it or whether it is actually doing what it is meant to be doing. There are some comments, the developer was replying to them but there have not been any since 2017, due to this, we would strongly recommend that you get in contact with the developer with any questions, this is so you can ensure that the EA is still being supported and that you will be able to get some help should you need it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/1399

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Forex Service Review

Thunder Bolt Price Action Scalping Expert Advisor

Thunder Bolt can be found on the MQL5 marketplace under the Experts section. There may be others with similar names, to avoid any confusion we have added a link to the exact expert advisor that we are looking at below. The expert advisor was first uploaded on the 13th of June 2019 by its creator Hefajatur Rahman. There have been some updates, the most recent was on the 9th of March 2020 and is currently at version 2.2.

Overview

Thunder Bolt is an expert advisor for the MetaTrader 4 trading platform, it was created to use Price Action scalping, it combines well with some other indicators. It should only be used on the M5 timeframe and not any others.

The main features of the expert advisor:

  • Spreads protection, using pending orders (stop order) without any market orders
  • A small Stoploss for every trade
  • Combines with RSI and Bollinger Bands indicators
  • Special Price Action, Special Artificial Intelligence (AI)

In terms of settings, there are a few available, these include whether to use fixed lots or not, to use stop losses or not and how much, and various other options are available too.

Service Cost

The expert advisor is quite an expensive one, in order to purchase it outright it will cost you $5,000, this version has no limitations and allows for unlimited use. There is also the option to rent the software, you can do this on a monthly basis which will cost you $200 per month, you can also rent it for three months which will cost you $500 and for a one-year rental it will cost you $1,500.

There is a free demo version, this will have some limitations which we, unfortunately, do not know what they are, due to the price, we would strongly recommend trying out the free version to make sure that it will do what you need it to before you make a purchase or rental.

Conclusion

Two user reviews are present on the site, neither of them is very positive giving the expert advisor an overall rating of 1 out of 5.

“Completely disappointed in this EA. In a Demo account it works very well, but in a real account you only lose money. The author made an update to the EA that did not improve the operation at all. He continued to lose money. I spoke with the author suggesting improvements, he said he would try to resolve it, but he simply stopped responding and gave no further satisfaction. Totally disappointed.” – A 1-star review.

“BIG SCAM- JUST LOSING MONEY!!! 40% LOSING MONEY in 3 days!!! PLEASE FAR FROM THIS EA AND AUTHOR AND DON’T BE A FOOL TO RENT THIS EXPENSIVE EA BASED ON the FAKE COMMENTS here!!! I rented this EA for a month ! from Starting I faced many problems with this EA with huge bugs to control SL and trailing stop! The author seemed very supportive in the very beginning BUT when I rented it then he was almost disappeared! First he brought some excuses regarding the broker’s slippage but when I tried it in 6 different famous brokers including Tickmill based on his recommendation then he stopped answering when he found me very insisted to find the faulty party!!!” – A 1-star review.

So the reviews are not very positive, the developer has replied to some of the comments but not the most recent ones, with the price of the expert advisor you would expect better support, with the negative reviews, it can be clear that the indicator does not do exactly what it is meant to and does not appear to be worth the high asking price.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/39464

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Forex Service Review

Vados MM Multi-Currency EA Review

The Vados MM is an expert advisor that is currently located within the MQL5 store. There is another similarly names expert advisor, so ensure you know which one we are talking about we have provided the link to it below. The current version of this expert advisor is version 2.4, it was last updated on the 18th of December 2019.

Overview

The Vados MM expert advisor is designed to work with the MetaTrader 5 trading platform. It is a fully automated expert advisor and works on 28 different pairs at the same time. The expert advisor does not use the martingale strategy, and it comes preconfigured.

It has a number of different parameters that can be changed to suit your style including things like grid sizes, slippage, lot sizes, and more.

There isn’t much more information given about the expert advisor such as entry requirements or more, so it sem slike it will use a grid system to trade.

Service Cost

The expert advisor cannot be bought instead it will be rented, there are different pricing for different lengths of time. To rent it doe 1 month it will cost you $190, to use it for 3 months it will cost you $490 and to rent it for 6 months it will cost you $890. There is also a free version available, but we do not know if any functions are removed or how long it will last for.

Conclusion

This expert advisor currently has 10 different reviews on MQL5, 8 of these are 5 stars, there is one 3 star review and one 1 star review.

5-Star Review: “Highly Recommended! Amazing support from Vadym! Every time I asked some questions, he explained in detail, so I can understand everything. In the very beginning he asked me to send him pictures, so he can be sure I set the EA correctly and everything runs smoothly. I have 5 accounts running with Vados. The results are amazing! It’s the best EA I’ve ever used!”

3-Star Review: “If you buy expect to live constantly in DD (quite big) Also some errors from the developers could be avoided, and some have been understood only after 1 client burned his entire account. I would really suggest anyone WAIT, at least 6 months, 1 year, to really see if this EA can be profitable in the long term as they say.”

1-Star Review: “Floating dd is not my thing. You don’t wanna be stuck when you want to withdraw money. If you don’t trust me msg all below users and ask for their live stats results. As for support, admins said it’s our fault choosing this ea and investing money. I don’t recommend this and does not deserve a star at all!”

So as you can see there is a range of reviews, the negatives mainly focus on the floating drawdown, we would suggest using the demo version to test out the expert advisor prior to purchasing.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/40993

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Forex Service Review

Advanced Pin Bar Trader EA Review

Advanced Pin Bar Trader can be found on the MQL5 marketplace under the expert advisor category. It was created by Abbas Makkai and was first uploaded to the marketplace on the 25th of May 2015, it has not received any further updates to the software version is still version 1.0.

Overview

Advanced Oin Bar Trader is an expert advisor that was created for the MetaTrader 4 trading platform. It is an EA with built-in risk management, automatic stop loss and take profit calculations as well as multiple entry types.

The site doesn’t actually tell you much on how the EA actually trades, it does tell us what visuals are present, they include the working balance, total risk, today’s target, today’s balance, risk per trade, today’s profit and equity.

There are also some additional parameters and setting available to alter, these include magic numbers, minimum pin bar size, daily profit goals, daily risk, market entry type, to enable trailing stops, lot sizes, take profit and stop loss ratio, fixed lots, and more.

Service Cost

The expert advisor can currently be purchased for $35, purchasing it will allow you to activate the software up to 5 times and does not come with any additional limitations. There is no option to rent the EA, so purchasing it is the only option.

There is a free demo version, but the details are not known or stated on the site, so it may only be used with the strategy tester, we cannot say for sure.

Conclusion

There are currently no reviews from people who have purchased this EA, there are also no comments, so it makes it hard for us to know whether the EA is doing what it is supposed to do and whether or not it is effective. It also means that we do not know if itis still being supported by the developer, due to this, we would strongly suggest that you send your queries and questions to the developer, this way you can find out if it will do what you need it to do and whether the developer is still around and will be there to offer support should you need it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/9656

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Forex Service Review

MT5 Exp Copyloy Client EA Review

The Exp Copylot Client for MT5 is an expert advisor/utility that can be found in the MQL5 marketplace. We have linked it below so you can know exactly which product we are reviewing. The current version of this utility is version 20.225 which was last updated on the 25th of February 2020.

Overview

This exact version of the software is designed to copy trades from a MetaTrader 5 terminal to another MetaTrader 5 terminal, or from a MetaTrader 4 terminal to a MetaTrader 5 terminal. The features of this software have been stated as follows:

  • The deals copier is created to copy deals/positions between terminals
  • Copying from a demo account and investment accounts is supported
  • The program can be run on multiple terminal bindings
  • Use it as a synchronizer of your trades on various accounts trading on one account
  • Copy from multiple terminals to one
  • Copy from one terminal to several others
  • Copy from any different brokers to any different brokers
  • Copy from a closed account opened with an Invest password
  • Copy from DEMO accounts to a real account
  • Hedge and netting accounts

There are a number of different parameters that can be selected and altered when using the software, these include things such as lot sizes, to copy only losing positions, to copy only profitable positions, to close all trades on master close, and more.

Service Cost

The current cost to purchase this software is $35, you are also able to rent the software which will cost you $10 for one month or $25 for three months. There is also a free demo available to use with MetaTrader 5, but we do not know what functions are available to this exact demo version or how long it will last for.

Conclusion

There are just three written reviews for this piece of software, all three are 5-star reviews.

“Great product, providing all the flexibility to copy deals across terminals. Update: First I rented it for a month, now I bought it. Very good product and excellent support from the developer.” – User Comment

“Really a great tool! The developer was able to create a very rich tool, that makes you able to trade, but also to learn from what happens between master and receiving accounts. Now I have it, I could not stay without it.”

So some positive words about the software, there are also a lot of comments about it, some stating that they are having issues installing but most are just questions about the software itself and not really anything that would sway a purchase. As always we would recommend using the free version first just to make sure it has the functions that you need.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/11953

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Forex Service Review

World Orders Expert Advisor Review

WorldOrders is located within the MQL5 marketplace under the Experts subcategory. It was developed and uploaded by Evgeniy Zhdan on the 14th of March 2020, it has not had any updates and so the software is still at version 1.0.

Overview

WorldOrders is an expert advisor that has been developer by Evganiy Zhdan for the MetaTrader 4 trading platform, the EA works by looking at the results of it calculating the excess of the average volatility over a certain period of time in the markets. The EA will build channels out of three lines and when the price is above the top channel, only sells are allowed, when it is below the bottom then only buys are allowed, and when the price reaches the midline the trades are closed.

The EA will try to determine the strength of the trend movements within the markets and will look for their most profitable directions, this will take into account the nature of the price movements within the dynamic channels that were formed with the participation of ATR.

The EA does not require the installation of any settings or files, it is ready to start working right out of the box after installing it onto a chart. It is recommended that the EA is used with the GBPUSD, EURGBP, USDJPY, and USDCAD currency pairs and for it to be used on the M5 timeframe. It is also recommended that you use it with a VPS for better connectivity and 24/7 functionality.

There are a lot of options available when it comes to the parameters that come with the EA, altering these will change the way that the EA functions and can be changed to better suit your own style and needs. Some of the available options include the volatility levels, maximum risk to use, maximum lot sizes, the maximum number of orders to open, the ATR period, the MA period and type, whether to show zones, the colors of the lines, to use trailing stops, the distance of the trailing stops, time to end trading, lippage, magic numbers, comments, max spreads, and more.

Service Cost

The WorldOrders EA is an expensive one, it can be purchased with a single payment of $2399 which would price out the majority of people who use EAs like this. When purchasing, you will be able to activate the EA up to 50 times. There is also the option to rent it on a yearly basis, rentals are normally cheaper but in this case, it is not by much, the yearly rental will cost you $2199 for the year.

A free demo version is also available, this version can be used with the strategy tester within the MetaTrader 4 trading platform rather than on an actual live account.

Conclusion

There is just one review available from the users who have used this EA, the review has given it an overall rating of 5 out of 5.

“Good” – A 5-star review.

The review does not give a lot of information away, but at least it is positive which is a good sign. There are no comments available within the comments section to the sort of support that is being offered is not known to us. Due to this and the lack of reviews, we would strongly recommend that you try to get in contact with the developer and use that opportunity to find out that the EA will work how you need it to, and to also make sure that the creator is still around and is able to offer support, especially with the price of the expert advisor being so high.

This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47207

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Forex Service Review

TwilightTrade SEES Real Trader EA Review

The TwilightTrade SEES is an expert advisor that is designed to work with MetaTrader 4 and can be found within the MQL5 marketplace, we have linked it below so you can understand exactly which expert advisor we are looking at. At the time of writing this review, the most recent version is version 17.88 which was updated on the 15th or December 2019.

Overview

This expert advisor is designed to be used with the MetaTrader 4 trading platform. It is based on a level trading strategy, price action, and also uses some MetaTrader 4 indicators. It allows you to control risk management as well as profit and loss levels. The expert advisor does not sue grids, martingale, hedges, or scalping, it is fully automated.

This expert advisor should only be used on the GBPUSD pair and on the M15 timeframe.

There are also a few additional settings and parameters that you are able to change to suit your own style:

  • SeeSSetFile — money management
  • Use MM — money management
  • Risk — capital management risk
  • MaxLots — a maximum lot
  • MaxSpread — max spread
  • Slippage — slippage. 1-3 suggested – no more and no less

Service Cost

The expert advisor costs a massive $5,000 to buy which is very expensive for an expert advisor, you are also able to rent the software on a monthly basis which will cost you $500 per month to do this. There is also a free demo version available to use, and we suggest that you do, as it is a lot of money to spend on something you have not tested before.

Conclusion

There are five different reviews available for this expert advisor, they are all 5-star reviews.

“Thanks for your Very good support, and thanks for your great Expert Advisor TWILIGHTTRADE-SEES I manage many good signals and Forex account with your smart system, really thanks for you” – User Comment

“Good Expert Advisor in fact its include 20 best Expert Advisor in one system I did use the first 5 setting and all setting make good profit with me, thanks for your great work”

Normally we would suggest being quite weary when there are only 5-star reviews available, however as there is a free demo version available, we would suggest using that to make sure that the expert advisor works for you and that you are able to set it up prior to making a purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/28293

Categories
Forex Service Review

Auto Trailing Stop Break-Even EA Review

The Auto Trailing Stop Break-Even is a piece of software designed for the MetaTrader 4 trading platform and can be found on the MQL5 marketplace. We have provided a link to this piece of the software below so you know which piece of software we are actually talking about. The software was originally released back on the 4th of July 2018, there have not been any updates to it so the current version is still version 1.0.

Overview

The Auto Trailing Stop and Break-Even is a utility software that can be sued with the MetaTrader 4 trading platform. It was designed as a way to prevent trades from almost hitting the take profits and then dropping back down to stop losses. The tool creates a trailing stop that follows the profitable trade, so when it turns it will take profits.

There are a number of parameters that can be changed to alter the way the software works to suit your trading needs. You can change the broker information, and broker type. You are able to change the break-even configuration, whether you use break-even if it is decided in pips or profits, to use profit protection, trailing stop amounts, when to start and steps to take, and more.

Its a very easy tool to use, with just three easy steps:

  • Put the Expert Advisor on the chart where you have the trade that you would like to manage automatically.
  • Choose the parameters that you would like to use.
  • Make sure that you have the Auto Trading enabled on MetaTrader 4.

Service Cost

This utility will cost you $65 to purchase it outright, there is also an option to rent it which will cost you $35 per month. A free demo version is available, the demo version is limited to only using the EURUSD and USDJPY pairs but it seems that all other functions are working the same as the full version.

Conclusion

There are no reviews available on the website or that we would find around the internet that we could be certain were for this exact piece of software. Due to there being no reviews or ratings we do not know if the software is effective or if it actually does what it says it does. All we can do is recommend that you try out the free version before making a purchase, this way you can be sure that it is functioning correctly and that you are able to get it set up correctly.

This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/29243

Categories
Forex Service Review

Aurora XL Expert Advisor Review

Aurora XL is located within the MQL5 marketplace and is under the Experts heading. It was first uploaded to the marketplace on the 17th of March 2020 by its creator Aleksandr Sosnovskiy. There have not been any updates to the EA so the current version is 1.0.

Overview

Aurora XL is an expert advisor for the MetaTrader 4 trading platform, the EA claims to be different from other EAs in the way that it uses an increased number of trees. This should help to improve the machine learning that the EA performs.

The EA uses the EURUSD currency pair and trades on the H1 timeframe. You can use it on any broker but an ECN account is recommended.

There are plenty of parameters that come with the EA, these can be adjusted to help alter the way that the EA functions. Some of the options available include the lot sizes, percentages, take profits, stop losses, trailing stops, whether to take buy and sell trades, grid size, grid lot increases, maximum positions, magic numbers, comments, and more.

Service Cost

The Aurora XL EA can be purchased with a single payment of $199, this gets you up to 5 activations of the EA with no other limitations. There is also the option to rent the EA, this can be done on a monthly basis which will cost you $99 per month to do. A free demo version is also available to use, this can only be used with the strategy tester within the MT4 platform rather than on a live account.

Conclusion

Unfortunately, at the time of writing, there were no reviews or comments available from anyone that has purchased or rented the EA, this means that we do not know whether they are finding it useful or profitable. There are also no comments so the support being offered is also not known to us. We would suggest getting in touch with the developer with your questions so you can be sure that the EA will be the right one for you and that the developer will be around to offer support should you decide to purchase or rent the EA.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47338

Categories
Forex Service Review

CAP Prime Scalper EA Review

CAP Prime Scalper EA can be found within the experts’ section of the MQL5 marketplace. It was first uploaded on the 15th of August 2016 by its creator Mohammad Ali, it has received a number of updates, the most recent updates were on the 28th of December 2019 and it is currently at version 7.0.

Overview

CAP Prime Scalper EA is an expert advisor that can be used with the MetaTrader 4 trading platform. Its main purpose is to detect key breakout signals, it will then use these signals to create trades and will cut the profits of the move while minimizing losses.

The EA will automatically analyze the market volumes and volatilities and will follow strong supply and demand movements. It asl has the option of a trailing stop as well as the ability to stop trading during news events to avoid slippage and increased spreads.

Some key advantages to using the CAP Prime Scalper EA:

  • Fully automated trading 24/5.
  • No need for a large initial deposit.
  • No Martingale, No Grid.
  • Always uses Stop Loss to protect capital.
  • A position trailing stop is used.
  • Both a fixed lot and a free margin percentage are used.
  • Ability to set time limitations for the EA operation.

There are also a number of parameters and settings that can be altered, these include things like lot types, equity percent to use, to use fixed lots, which percentage of margin to use, take profit options, initial stop losses, trailing stop losses, hidden stop losses, ATR period, signal frequency, break-even settings, time configurations, and many more.

Service Cost

The expert advisor will currently cost you $99 to purchase, this will give you up to 10 activations without any other limitations. There is not an option to rent this expert advisor. There is a free version available, however, the limitations are not stated on the site and it may only be used within the strategy tester of the MetaTrader 4 trading platform.

Conclusion

There are 16 user reviews which have given the indicator an overall rating of 3.5 out of 5.

“EA’s performance is very successful. I’m on a Tickmill account. There was no problem. Customer support is very nice. He answers every question instantly. I will process it in another real account without waiting too much. I believe that my plans for myself will come true.” – A 5-star review.

“This EA works very well, I like how the EA detected a scalping situation and more importantly how he ends the trade in TakeProfit.” – A 5-star review.

“Unfortunately not profitable for me” – A 1-star review.

There is a mix of positive and negative reviews, the majority of the negative reviews did not leave much information but the ones that did are referring to the fact that the EA has been giving them negative results rather than profits, the positive reviews are all saying the opposite, so it seems to be based on how you set up the EA. In terms of comments the developer was replying to most of them but has not replied to the most recent comments so we are not sure if it is still being supported, we would suggest sending any comments or queries you have to the developer, this way you can make sure that he is still supporting the EA before you make a purchase.

This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/17724

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Forex Service Review Forex Services Reviews-2

Dodger FX Expert Advisor Review

Dodger is currently located within the Experts section of the MQL5 marketplace, it was developed by Aleksandr Kudria and uploaded to the marketplace on the 15th of March 2020, it received an update on the 11th of April 2020 which brought the software up to version 2.0.

Overview

Dodger is an expert advisor that was created for the MetaTrader 4 trading platform, the EA was created for use with the EURUSD currency pair and will use the H4 timeframe. The EA works 24 hours a day and is fully automated, so no user input is needed once it has been set up. The entry positions for the EA are determined from the analysis fro various indicators, these are the TMA (triangular moving averages),

The EA does not use grid systems or the martingale strategy which is good as these are both very risky strategies that regularly cause people to blow their accounts. It is also advised that you use a VPOS to host your trading client to allow for 24/7 trading with no potential downtime. The EA will also work with both4 and 5 digit brokers. The take profits and stop losses used by the EA are hidden from the broker to avoid any dodgy behaviour.

In terms of parameters, there are a few available to toggle, these will slightly alter the way that the Ea functions. Some of the parameters include the visual mode, magic numbers, the lot size for manual mode, the mode to use to calculate the lot sizes, options for the TMA signals 1,2, and 3, and some more options are available too.

There is a small note at the bottom of the description that reads: “This version of the adviser contains a limitation of the parameter of number simultaneously open orders and Index AutoLotSize to reduce the maximum drawdown.” This indicates that there may be another version of this EA somewhere.

Service Cost

The Dodger EA s a very expensive one, you can purchase it with a single payment of $2,882 which will price out a lot of people who use EAs to trade, the rental option available is far more reasonable and seems to be the way that the developer wants the Ea to be used, it will cost you $30 to rent the EA for one month. Whichever way you get it, you will be able to activate the Ea up to 5 times.

There is also a free demo version, this has a lot of limitations and can only be used with the strategy tester within the MT4 platform rather than trying it out on an actual live account.

Conclusion

There are currently no reviews or rating available for the Dodger EA which make sit hard for us to judge the quality of both the Ea and the support that the developer may provide. The rental option is far more accessible, even so, we would still advise that you contact the creator with any questions so you can be sure that it will function how you need it to and that they will be around to offer you support should you require it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47283

Categories
Forex Service Review

Find Outside Vertical Bars with Alerts Review

Find Outside Vertical Bars with Alerts can be found in the indicators section of the MQL 5 marketplace, there is a link to it below so you can see exactly which indicator we are looking at. The indicator was first uploaded on the 16th of April 2014, it has had a number of further updates including the latest one on the 6th of May 2014 which brought the indicator up to version 1.2.

Overview

Find Outside Vertical Bars with Alerts is an indicator for the MetaTrader 4 trading platform, the indicator works by looking for price action outside bar patterns, it will then set a signal pointer on the base bar and a pending order level on the signal bar. The indicator will also generate signals when a pattern is detected.

There are a number of parameters available to alter:

  • Draw Patterns – draw the graphical representation of the pattern
  • The color of the Bullish pattern
  • The color of the Bearish pattern
  • Fill or Frame pattern – fill the pattern with color or draw only a frame
  • Width of the frame pattern
  • Use Alerts – notify about a pattern
  • Send Push-notifications – send push-messages about the found pattern
  • Send mail – Send an e-mail about the found pattern

Service Cost

The indicator can currently be purchased for $10, so it is on the chapter side, this version does not have any limitations to it, there is no opportunity to rent it so purchasing is the only option available. There is a free demo version, this will have some limitations but they are no known to us as the limitations are not stated on the website, it may still be worth downloading to try out though.

Conclusion

Unfortunately, there are no reviews, ratings or comments for this indicator so we have no idea if those that are using are finding that it does what it is meant to do. However, we would expect there to be some negative reviews if it wasn’t working as intended. Due to the lack of information, we would strongly suggest that you download and try out the free version, you could also send the creator a message, this will test to see whether they are still actively supporting the indicator or not before you make a purchase.

This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/4030

Categories
Forex Service Review

BelkaMiner MT4 Expert Advisor Review

BelkaMiner can be found on the MQL5 marketplace, we have provided a link to it below as there are other versions available with very similar names. The expert advisor was created by Dmitriy Shal and was first uploaded on the 21st of February 2020, it was uploaded as version 1.171 and has not received any further updates.

Overview

The BelkaMiner is an expert advisor designed for the MetaTrader 4 trading platform, there is also a MetaTrader 5 version available too. The expert advisor is fully automated and looks for breakouts, momentum, and reversals to trade.

Some of the key features include:

-The EA allows you to build a machine learning-based trading system on any pair and timeframe.

-It’s a real Data Miner and ML system. You can fully control the learning process and change the data mining settings in your own way.

-The system can learn how to trade breakout, momentum, and reversal strategies by recognizing patterns in historical data.

-The EA groups a set of entry points in such a way that points in the same group (cluster) are more similar to each other than to those in other groups.

-The Bollinger Bands, Donchian Channel, Price Action, and 6 low correlated Input variables with the Outlier data filter are available.

-The system does not use Martingale, grid, hedging, and other risky Money Management techniques.

-All settings are fully customizable, no hidden parameters.

Plenty of settings are available to alter the way the expert advisor works, some of the available options include the mode to use, money magnet, lot sizes, balance, max risk, max lot sizes, timezones, max spread, max slippage, time to trade, entry style, stop losses, take profits, and many more.

Service Cost

The expert advisor will cost you $229 to purchase it outright, this will get you unlimited access to it with no limitations. There is also the option to rent the expert advisor, you can rent it for three months and this will cost you $99, you can also rent it for six months which will cost you $149 for that time period.

The site also indicates that there is a free demo version, this will have some limitations on it and may only be able to be used with the strategy tester, however, this has not been made clear, it may be worth downloading just to try it out.

Conclusion

There are currently no reviews or comments so we do not know how people are finding it or if it is doing what it is meant to do, however, we suspect that if it was not working then there would be some negative reviews. Due to there being no comments, we also do not know if the developer is still actively supporting the expert advisor, so we would recommend that you send any queries that you may have to the developer, this was you can ensure that it will work the way you need it to and that it is still being supported before you make a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/20199

Categories
Forex Service Review

Friday Boost EA Review

Friday Boost is located within the Experts section of the MQL5 marketplace, it was uploaded on the 5th of April by its creator Jonas Maurer, it was uploaded as version 1.0 and has not received any updates since sits initial upload.

Overview

Friday Boost is an expert advisor that can be sued with the MetaTrader 4 trading platform, it was designed to be an easy to use EA that offers a clear system and strategy. It has been designed to work with the XAUUSD asset and can work on any timeframe.

The EA works by trading on Fridays where the volume of metals being traded are normally higher, this can often result in higher prices on a Friday, this is best seen on the XAUUSD asset. The EA will take advantage of this and will open up a buy trade on Thursday evening and will close it the next trading day, it will set a take profit and stop loss in order to secure the position from unexpected market movements and to protect the account from larger losses.

It is recommended to have a balance of at least $200 with minimum leverage of 1:20, lower spread accounts are also recommended by not required.

Some features when setting up the EA:

Time Offset: The EA is designed to run in GMT + 2 in winter and GMT+ 3 in summer (US-Daylight-Saving-Style). If your broker uses a different server time, you can modify the offset. For example: for New York (GMT -5/-4) you need to set the offset to -7.

Money Management: The EA will use the fixed lot size unless it is set to 0.

Stop-Loss and Take-Profit: The EA will set SL and TP unless it is set to 0. Input 1.0 = 1% above/below Open-Price.

Service Cost

The EA is currently completely free to download so it will not cost you a thing, this will give you unlimited access without any added limitations. As it is free, there is also no need for a demo version of the EA.

Conclusion

As the EA was only recently uploaded to the marketplace, there are currently no reviews or ratings about the EA, this makes it hard for us to know whether people are finding it profitable and whether it does what it is intended to do. There are also no comments so we would suggest contacting the developer with any questions that you may have, this way you can be sure that the EA will function how you need it to and that the developer will be around to offer support should you need it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/48047

Categories
Forex Service Review

FX Multi Trader EA Review

FX Multi Trader is located on the MQL5 marketplace, it was uploaded by its creator Keisuke Tsutsui on the 15th of March 2020, it received its most recent update on the 20th of April 2020 and is currently at version 2.42.

Overview

FX Multi Trader is an expert advisor that was developed for the MetaTrader 4 trading platform, it was created as a multi trading EA that also has a standard market strength function for the major currency pairs (USD, JPY, GBP, CHF, CAD, AUD, NZD) and also JPY crosses.

The system apparently has a special intelligent multi pairs recovery system which is actually another EA, the bad news is that this is a martingale system of recovery which can lead to additional drawdown and if left unchecked, it can blow the account. The martingale strategy works by looking at the current trade, if the markets move against it, it will place an additional trade in the same direction as the first trade, but at a large lot size, if it continues against the trade, and additional trade is open, again slightly larger, this continues until either the markets revers and it closes in profit, or the account blows. It is a dangerous strategy that most should avoid, even with people with large accounts.

It is recommended that you use a balance of at least $400 for each currency pair that you use, you should also use an account with at least 1:300 leverage. It has been optimized to be used with the M5 timeframe rather than any others.

The EA comes with a fee different parameters, these can be altered to change the way that the Ea functions. Some of the settings include whether to use martingale recovery, the loss cut mode, maximum distance in pips, maximum order numbers, the multiplier to use, currency power settings, what information to display on the screen, and more.

This is the full version of the EA, there is a lite and free version available too which some added restrictions.

Service Cost

The FX Multi Trader EA can be purchased with a single payment of $240, purchasing it will get you up to 5 activations of the EA and does not come with any other limitations. There is also the option to rent the EA if you prefer that way of accessing it, this can be done on a monthly basis and will cost you $40 per month. A free demo version is also available, the free version is limited to a lot size of 0.01 lots and it can only be used with the UEURSD and USDJPY currency pairs.

Conclusion

At the time of writing, there were no reviews or ratings from those that have purchased or rented the EA, this makes it hard to know whether they are finding it profitable and useful. There are three comments which are all from the developer of the EA, they are providing some tips and new settings for the EA. While this does not show the sort of customer support that you will receive, it does at least show us that the developer is active in their support and will be around to offer help should you need it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47293

Categories
Forex Service Review

Genetic Generation Forex EA Review

Genetic Generation is found within the MQL5 marketplace, it was uploaded to the marketplace by Alexander Ivanov on the 18th of March 2020. It has received updates, the most recent update was on the 21st of March 2020 and this update brought the software up to version 2.0.

Overview

Genetic Generation is an expert advisor that can be used with the MetaTrader4 trading platform. The EA was designed to accumulate information around the markets as it trades, it will then use this information to calculate further developments that may take place in the markets and will use these to generate buy and sell signals.

When a signal has been generated, the EA will open up a buy or sell order, it will also work out the stop loss positions and take profits when a trade goes into profit a trailing stop will be used to lock in profits.

The EA was tested on the GBPNZD, GBPAUD, GBPUSD, and GBPJPY on the M15 timeframe.

The EA also comes with some parameters, these include the market tension, level of algorithm, maximum spread, automatic lot increases, risk percent to use, take profit levels, stop loss levels, trailing stop distance, slippage, magic numbers, and more.

The video shown below, while not directly related to this Forex service, does help to explain Genetic Algorithm trading.

Service Cost

The Genetic Generation EA is an expensive one, it will cost you $1,973 to purchase it with a single payment. Purchasing it will get you u[p to five activations, unlike many EAs on the MQL5 marketplace there is no option to rent this EA. There is a free demo version, but this can only be used with the strategy tester within the MT4 trading platform and not on a live account.

Conclusion

At the time of writing, there were no reviews or ratings available, this could be due to it being so expensive, regardless of the reason, it means that we do not know whether customers are finding that it works as intended or whether it is profitable or not. There are also no comments, from customers or from the developer we do not know what the support is. Due to its incredibly high price we would suggest sending any questions that you may have to the creator to ensure that the EA will be useful to you and that they will be around to support should you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47385

Categories
Forex Service Review

Happy Monday FX EA Review

Happy Monday can be found within the Experts section of the MQL5 marketplace, we have added a link below to the exact expert advisor that we are looking at. The expert adviser was first uploaded on the 9th of January 2020, it has received a few updates since that time and the most recent update was on the 5th of March 2020 and is now version 1.19.

Overview

Happy Monday is an expert advisor that can be used with the MetaTrader 4 trading platform, it is a fully automated expert advisor that can work on the majority of the major currency pairs, it uses price action and other patterns to help identify points of entry at the beginning of the week.

There are a few major features of the expert advisor:

  • Stable growth curve as a result of a high % of winning trades
  • Stress-tested on all available history
  • Automatic GMT adjustment
  • The minimum deposit: $50 for Strategy А, B and $300 for Strategy C
  • Easy setup and use

There are three different modes that the expert advisor can be used in:

Strategy А (Best Entries Only) – relatively rare trading, but the quality of the average trade is at it’s maximum. No martingale, grid, or hedging is used.

Strategy B (Minimal Filtering) – more frequent trading for those who prefer having more trades. No martingale, grid, or hedging is used.

Strategy C (Recovery Mode) – the EA will recover faster during drawdowns using several averaging trades, which gives a more comfortable growth curve.

There are also a bunch of parameters and settings available which can help alter the way the expert advisor works, some of them include the choice of strategy, starting lot sizes, max lot sizes, disable on holidays when to shut down, to activate trailing stops, average multiplier, trade comments, and many more.

Service Cost

The expert advisor can be purchased of $239, this will give you unlimited access to the expert advisor without any limitations. There is also the option to rent the expert advisor, this can be done for a three month period and will cost you $89. There is also a free version available. However, this will have some limitations, but it is not made clear what the limitations of the free version are.

Conclusion

At the time of writing, there are 7 reviews available for Happy Monday, these are giving it an overall rating of 4 out of 5 stars.

“Too expensive for the results. At least not loosing much, but not winning either.” – A 1-star review.

“If a trade goes against this EA it enters a number of martingale hedging trades. Far from being a Monday trader this can extend into Wednesday as it did with me. I have since closed it down. Only a large account could survive this process. I have removed it. Not recommended.” – A 1-star review.

“This is a very good expert adviser and I have made money using it.” – A 5-star review.

“As always a good product. I always trust the author. Recommended” – A 5-star review.

So there is a mix of one and five-star reviews giving an indication that it is working for some and not for others. There are also 38 comments available, the creator of the expert advisor is replying to them all which shows that he is still actively supporting the expert advisor. We ould suggest that you download the free one, even with limitations, it can give you a better idea of how it works and so you can see if it is the right expert advisor for you prior to making a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/38828

Categories
Forex Service Review

Intelligent Scalper Pro EA Review

Intelligent Scalper PRO is located within the Experts section of the MQL5 marketplace. It was created by Botond Ratonyi and was first uploaded to the marketplace on the 16th of March 2020, it has not received any updates at the time of writing and so it is still at version 1.0.

Overview

Intelligent Scalper PRO is an expert advisor that was created for the MetaTrader 4 trading platform, its main purpose is to be consistently profitable and flexible when the market conditions re changing, it uses a complex combination of indicator chart patterns and data mining.

The EA is fully automated and does not need any manual action or intervention once it has been set up, it will sue a trailing stop and training take profits in order to make each trade risk free and to generate as many profits as possible. The EA may open up multiple trades at once with different parameters, it also has a volume upper limit so you can control the lot size sequence, it also has a count trade parameter so you can say how many trades are allowed to be open at any one time.

While it does not say, the EA is actually using the martingale strategy which is not a great sign to see. The martingale strategy means that when a trade has been made and the markets go against it, it will create another trade in the same direction as the first, but at a slightly larger lot size, if the markets continue against the trades, a third and fourth, and so on will be created, each at a larger size to the last in the hope that the markets revers. This causes the drawdown to grow exponentially and can be very dangerous for those without a huge account.

The default settings for the EA are on the EURUSD currency pair and on the H1 timeframe. It is also recommended that you have at least $100 for each 0.01 lots size that you use and that you have a VPS.

There are some parameters that come with the EA, but they have not been mentioned in the description, we can see people commenting about them but we are not sure exactly what they are.

Service Cost

The Intelligent Scalper PRO EA can be purchased from the marketplace for $30, this is a one-time payment that will allow you to use up to 5 activations of the EA, unlike many EAs on the MQL5 marketplace, there is no option to rent this one. A free demo version can be downloaded but it is restricted to only being usable with the strategy tester within the MT4 platform.

Conclusion

There are no user reviews or ratings for the EA so the overall rating is still unrated, there are a number of comments asking questions about the EA, the developer has been responding to them promptly and offering a lot of support, but the comments make it clear that the martingale strategy is taking places which is not a great sign. Before you make a purchase, we would suggest contacting the developer to make sure that the Ea will function how you need it to.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47337

Categories
Forex Service Review

Light Orders Forex Trades Copier Review

The Light Orders Copier is an expert advisor that can be found in the Utilities section of the MQL5 marketplace. There are many copiers out there, so we have provided a link to ensure you know exactly which one we are looking at. The Light Order Copier was originally released by its creator back on the 6th of April 2016, it has received a number of updates, the most recent being the 4th of February 2020 and it is currently on version 1.82.

Overview

The Light Order Copier is a utility and expert advisor designed to be used with the MetaTrader 4 trading platform, its main purpose is to copy trades while adjusting the trade sizes and direction on the same account.

This is particularly useful if you are receiving a signal that uses a certain trade size, the expert advisor will allow you to follow that signal but with higher or lower lot sizes.

The examples are given:

Example 1:
The original lot size is 0.01. We need to increase it 10 times.
Solution: Set Lot multiplier to 9. In this case, EA will copy trade and the new lot size will be 0.01×9=0.09.
Total lot size will be 0.01 + 0.09 = 0.10 lots.

Example 2:
The original lot size is 0.1. We need to decrease result lot till 0.02
Solution: Set CopyMode = REVERSE and Fixed lot size 0.08.
Total lot size will be Buy 0.1 + Sell 0.08 = Buy 0.02 lots.

There is a wide range of settings available for the expert advisor including the copy mode, trading operations, signal definitions, magic numbers, order comments, lot size managing, SL and TP modes, defined SL, defined TP, max slippage, max drop price, max spread, and more.

Service Cost

The expert advisor will cost you $30 to purchase outright giving you unlimited usage, you are also able to rent it in monthly installments, this will cost you $20 per month. There is also a free version available. However, there doesn’t seem to be any information detailing what the limitations of the free version are, but it normally involves a limited number of trades or compatible currency pairs.

Conclusion

There are a total of 23 (at the time of writing) review available for the Light Order Copier, the overall rating given by these reviews is 5 out of 5 stars which his an extremely positive score. Sometime sonly having 5-star reviews can look a bit suspicious, but the reviews seem to reflect usage and seem genuine.

“Excellent product and support. Confirmed with the author before purchasing that it works with MT4 VPS as well as third-party VPS. It’s working perfectly on MT4 VPS for me and allowing me to scale a signal’s volumes up. I thought this was done by MT4 automatically, but this allows me to make the correction and add further boost as desired. Thanks Mikhail!” – A 5-star review.

“I use this EA for a few months and it works pretty much good. I also instruct the author for a job and he has done a very good and fast job :):)” – A 5-star review.

“Very solid, no problems so far. I use to multiply lots on calm and it works a treat. Also Mikhail’s support was very good to explain to me the basics. I would definitely use his services again. Cheers, Will.” – A 5-star review.

Even though the reviews are positive and it seems to do what it is supposed to, we would recommend that you download and try out the free version,m this was you will be able to make sure that it has the functions that you need and that you are able to get it up and running successfully.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/15480

Categories
Forex Service Review

Balanced Bot EA Review

Balanced Bot is located within the Experts sub0category of the MQL5 marketplace, it was developed by Ivan Simonika and was uploaded to the marketplace on the 5th of March 2020, it has not received any updates and so it is still at version 1.0.

Overview

Balanced Bot is an expert advisor that was created for the MetaTrader 4 trading platform, the EA was created to use a number of different indicators to search the markets for an entry point. It is a fully automated EA so it does not require any user input once it has been set up. The EA is able to trade both buys and sell independently from each other which gives a much bigger advantage when it comes to generating profits and results. The EA works by looking for sharp price movements within the markets or will use a number of closures by averaging the overall positions, the pips- averaging method is built into the strategy.

The main concern is the mention of the pip averaging, this is a technique that can cause a lot of fo drawdown. A trade will be placed, if the markets move against it, another trade will be placed but the size of the trade will be slightly larger, if the markets continue to move away then a third, fourth or fifth trade will be made, each one larger than the lat. These are placed in the hope of a reversal so they can all closeout in profits, however, if the markets continue to trend against, it can cause exponential drawdown growth and can even blow accounts. So use this strategy with caution and always monitor it yourself.

The following settings have been recommended as the starting settings:

  • Currency pair EUR/USD
  • Period H1
  • deposit from $ 3,000 to $ 10,000

The various options for money management are as follows:

  • Standard Risk StartRiskSize = 0.01; PlusRiskSize = 0.02; MaxRiskSize = 0.5
  • Medium Risk StartRiskSize = 0.02; PlusRiskSize = 0.04; MaxRiskSize = 1.0
  • High Risk StartRiskSize = 0.03; PlusRiskSize = 0.06; MaxRiskSize = 1.5
  • Critical Risk StartRiskSize = 0.04; PlusRiskSize = 0.08; MaxRiskSize = 2.0

In terms of parameters that come with the EA, there are a lot of them, they include all sorts of features that can be altered. Some of the available settings include the lot sizes to use, the lot size increments, the maximum number of trades allowed, take profit levels, stop loss levels, magic numbers, trade comments, percentage of the account to risk, and many more.

 

Service Cost

The Balanced Bot EA can be purchased for a single payment of $99 which will allow you to activate the software up to 5 times, it does not have any other limitations. Unlike many EAs on the marketplace, there is no option to rent this one. A free demo version is also available, but this comes with the limitations of only being usable with the strategy tester within the MT4 platform, it cannot be tested on a live account.

Conclusion

At the time of writing, there were no reviews or ratings from those that have purchased or used the Balanced Bot EA, so it makes it hard for us to work out whether the EA is doing what it was intended to do. There also aren’t any comments which again, makes it hard for us to know whether the developer is til actively supporting the EA, due to this we would suggest contacting the creator before you make a purchase so you can be sure that they will be around should you need any support.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/46969

Categories
Forex Service Review

Champion EUR/USD H1 EA Review

Champion EurUsd H1 can be found and purchased on the MQL5 marketplace, it was created by and uploaded by Raphael Schwietering, it was uploaded to the marketplace on the 29th of March 2020 and is currently at version 1.0.

Overview

Champion EurUsd H1 is an expert advisor that was created to be used with the MetaTrader 4 trading platform. It works as an automated trading system that has been optimized to work with the EURUSD currency pair and on the H1 timeframe. It has its own complex algorithms that are combined with a number of different indicators that help it decide the optimum entry and exit levels form the markets.

The EA operates on the closing of a bar, it helps to filter out market noise and will also help to speed up the optimization of the EA, it will also help prevent stop loss hunting from any brokers that perform that action. The EA does not use martingale, grid, arbitrage, tick scalping, or curve fitting strategies.

Some of the main features as described by the developer of the EA:

  • Works with 4-5 digit Forex brokers
  • Spread Filter
  • Equity Stop
  • Drawdown Protection
  • TakeProfit Basket Function
  • StopLossBasket Function
  • StopTrading Rest of the day when TP/SL Basket Reached
  • Fast Buttons for Closing Open Orders (CloseAll, CloseProfit, CloseLoss, CloseBuys, CloseSells)
  • Info panel with EA information
  • 5 Types of Money Management(Fixed Lot, Percentage, Geometrical, Proportional, Balanced)
  • Adjustable trading times
  • Advanced algorithm for entering and exiting the market

In terms of settings and parameters, there are quite a few that come with the EA. Some of these settings include whether to show the panel or not, magic numbers, money management settings, maximum lot sizes, lot size increase options, take profits, stop losses, minimum equity settings, drawdown stop settings, max open positions, and more.

Service Cost

The expert advisor can be purchased outright with a one-time payment of $349, this will allow you to activate the EA up to 50 times and it does not come with any additional restrictions. You are also able to rent the EA, this can be done on a yearly basis and will cost you $299 per year. A free demo version is also there, but this can only be used with the strategy tester within the MT4 platform.

Conclusion

Unfortunately, at the time of writing, there weren’t any reviews or ratings from people who have used the EA so we cannot see whether they are finding it useful or profitable. There are also no comments available, due to the lack of information here, we would advise caution, get in touch with the developer and ask any questions that you may have, this is a way to ensure that the EA will do what you need it to do,m but also that the developer will be available for support should you decide to purchase or rent the EA.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47794

Categories
Forex Service Review

FX Expert Pro EA Review

FX Expert Pro is located on the MQL5 marketplace under the Experts heading. It was created by Palliyaguruge Tharusha Dulan and was uploaded to the marketplace on the 4th of April 2020, it received an update on the same day (4th of April 2020) which brought the EA up to version 2.5.

Overview

Fx Expert Pro can be used with the MetaTrader 4 platform, it is designed to work as a scalper, grid trader, it allows for hedging and has trailing stops. The EA can be used with multiple pairs at the same time, it is fully automated, claims to have low risk and can use dynamic lot sizes.

There is no actual information on how the EA actually trades, what it looks for in order to create an opening position, or how it comes out of the trades (apart from having trailing stops).

There are a few parameters that come with it, these include the lot sizes, the pip difference, profits, maximum number of orders, to use fixed lots, to use dynamic lots, magic numbers, lot size multipliers, and more.

Service Cost

The EA will currently cost you $100 to purchase it outright which is expensive when you consider that there isn’t much information available about it. There is also the option to rent the EA, this can be done on a monthly basis which will cost you $20 per month, you can also rent it for three months which will cost you $40 for that period. Whichever method you use, you will receive up to 5 activations of the software.

There is also a free version available, this can be used with the strategy tester within the MT4 platform rather than a full demo.

Conclusion

The EA was only uploaded to the marketplace on the 4th of April 20202 so at the time of writing there weren’t any user reviews or comments available, this means that we do not know whether people are finding the EA useful or profitable. We would strongly recommend getting in touch with the creator, this would be a way to ensure that it will function the way you need it to, but also will ensure that they are around to offer support should you need it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/45052

Categories
Forex Service Review

Correlates EA Free Review

The Correlates EA Free is an expert advisor that can be found within the MQL5 marketplace, we have added a link below so you can see exactly which expert advisor we are looking at. The expert advisor was uploaded by Evgeniy Machok on the 22nd of December 2018, it has recently been updated on the 29th of March 2019 and this brought it up to version 1.24.

Overview

Correlates EA Free is an expert advisor that has been created to be used with the MetaTrader 4 trading platform. The expert advisor uses the idea of a correlation between the EURUSD and USDCHF currency pairs, by doing this, it allows the expert advisor to protect itself by opening a trade on the main pair and the correlated pair at the same time, this helps to avoid potential large drawdowns.

There are some recommended settings for the expert advisor, of course, you are able to sue your own settings too:

  • TimeFrame – H1
  • Trading terminal – MetaTrader4
  • Minimal recommended deposit – $500 for 0.01 lot
  • Minimal recommended account leverage – 1:500
  • Parameters – default

There are a number of parameters that can be altered to change the way that the expert advisor functions, these include things like auto lot sizes, lots, risk, drawdown, correlation periods, take profit percentage, minimum correlation, correlation step size, lot multiplier, broker prefix, broker suffix, and magic numbers.

There is a limitation to this version as the following message is available on the site: “It is necessary to understand that testing this strategy in the MetaTrader4 tester is impossible since the work is carried out simultaneously on several instruments, while the tester makes it possible to test only one trading instrument at a time.”

Service Cost

The expert advisor is completely free to download and use, so there is no purchase price or rental price required, due to it being free to download and use, there is no demo version available or required.

Conclusion

There are currently 12 reviews available, the overall rating of these reviews has given the Correlates EA Free a rating of 4.5 out of 5 stars.

“I’m using Correlates EA Free from few weeks on a demo account and I like it. Low DD thanks to the correlation and so far always earnings. This EA can be used only with EURUSD/USDCHF, I hope will be possible to have it also for other correlated currency pairs (Evgeniy told me that for other correlated pairs results are not so stable). Thanks to Evgeniy for the great support via PM and for making these EAs available for free. Keep up the great work!” – A 5-star review.

“Good free EA! Nice help from the creator” – A 5-star review.

“Interesting trading using correlation! DD under control. Not a lot of trades but winning trades for the three last months. Until now one of the best free ea and better than almost expensive ea sold here! Negative point is that you will earn each time just a few pips! No risk, no gain. This is the Forex rule! This ea can open several baskets so be careful to have enough deposit. Can become dangerous for deposit.” – A 3-star review.

So the overall reviews are very positive, there are also 88 comments, the creator seems to be replying to comments on a regular basis which seems to show that the expert advisor is till being supported which is good to see. As it is completely free to download and use, you could always test it out on a demo account just to see that it is working correctly and that it functions as planned for you.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/34135

Categories
Forex Service Review

Friday Boost EA Review

20FX Intelligent Fighter can be found on the MQL5 marketplace, it is currently under the Experts heading and was uploaded on the 7th of April 2020. It was created by Muhammad Asif, the EA is still at version 1.0 as it has not had any updated.

Overview

FX Intelligent Fighter can be used with the MetaTrader 4 platform, it claims to be the best EA for maintaining a profitable account over a period of years. It combined different algorithms with an added AI system that will only find profitable entires. (Please note that it is impossible to only have profitable trades).

The creator claims that the EA will be able to make an average of 35% yearly, this was done off just two years of backtesting though. It is recommended that the EA is used on the GBPUSD currency pair with a broker that offers low spreads on that pair.

The EA will only place one trade at a time, it does not use strategies like martingale, grid, hedging, or multiple trade systems. There are a couple of parameters available, these are the lot size to use and magic numbers.

Some recommendations from the developer:

1. The recommended lot size for $1000 Balance is 0.05 so you can increase/decrease lot size respectively.

2. Backtest results are based on closing all open positions after one year so It is recommended to close all your positions “manually” after 1 year you have started this EA.

Although there is a very low drawdown with this EA backtest results not guarantee to be 100% accurate when EA played on a live account, so please remain mentally patient and calm.

Service Cost

The expert advisor can be purchased with a one-time payment o $300, this will allow you to activate the EA up to 5 times. There are also a number of different options to rent the EA, this can be done on a monthly basis, it will cost you $50 to rent it for the month, for three months it will cost you $100, for six months it will cost you $150, and for a one-year rental, it will cost you $200 for that period.

A free demo version is available, but this can only be used with the strategy tester within the MT4 platform rather than on a live account.

Conclusion

There are currently no user reviews or ratings so we do not know whether people are finding the expert advisor profitable or whether it is doing what it is intended to do, there are also no comments from users so we do not know if the developer is offering support, due to this we would recommend contacting them, just to make sure they will be there should you decide to get the EA and then need some support.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/48047