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Forex Service Review

Griders Grid Expert Advisor Review

Griders was first uploaded to the MQL5 marketplace on the 29th of March 2020 by its creator Teuan Urusov, it has not received any updates since being uploaded to the marketplace so it is still at version 1.0 of the software.

Overview

Griders is an expert advisor that was created for use with the MetaTrader 4 trading platform, the EA will open up trades in both directions with a specific step between trades and with specific take profit levels. The EA uses a grid-based system that automatically adjusts itself when new orders are opened, it also provides an option for closing older trades as the lot sizes increase.

There are some parameters and settings that come with the EA, these include balance targets, grid step sizes, profit goals, slippage, magic numbers, and more.

Service Cost

The Girders EA can be purchased from the marketplace for $99, this is a one-off payment that will get you up to 25 activations of the software with no further limitations. If you would prefer, there is also the option to rent it for various amounts of time. For a monthly period, it will cost you $29 per month, for three months it will cost you $39, for six months it will cost you $49 and for a one year period, it will cost you $59 for the year.

A free demo version is also available, this is limited to only being used with the strategy tester within the MT4 platform rather than on a live account.

Conclusion

There are no user reviews or comments for the EA, meaning we do not know whether people are finding it profitable of it is doing what it is advertised to do. There is one comment from the developer who is adding some additional settings to use with the EA, this shows that it is still being supported which is a good sign to see.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47692

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Forex Service Review

Interactive Stop Loss EA Review

The Interactive Stop Loss is an expert advisor that is found on the MQL5 market, there may be other expert advisors or indicators with a similar name so we have provided a link below to make sure you know exactly which one we are looking at. The expert advisor was first uploaded on the 7th of May 2015, there have not been any further updates, so the current version of this expert advisor is 1.0.

Overview

The Interactive Stop Loss is an expert advisor created to be used with the MetaTrader 4 trading platform. The expert advisor is designed to create an invisible stop-loss that the brokers can not see, it was designed this way to prevent brokers from potentially triggering unwanted stop losses. The way the interactive stop loss works is by closing the trade once the price crosses the line rather than just the buy or sell figure. The expert advisor will work on all trading instruments and on any time frame.

There are a number of parameters that can be changed:

  • Symbol – symbols traded by the EA
  • Values: CURRENT – a current symbol of the chart, ALL – all symbols of the terminal
  • MAGIC – magic number of the EA’s orders
  • Value: -1 – orders with any magic number
  • Slippage – allowed slippage to close orders
  • Interactive – enables an interactive stop-loss mode
  • Close_mode – mode of closing orders by an interactive stop loss
  • Values: CLOSE – the EA closes the order after the candle is closed beyond the interactive stop loss line
  • CROSS – orders are closed after the price crosses the interactive stop loss line
  • sl_name_begin – prefix to name interactive stop loss lines automatically
  • sl_line_color – color interactive stop loss lines
  • x_btn and y_btn – distance to the upper right corner of the button panel from the beginning of the chart by х and у correspondingly
  • Alert – enable/disable alerts

Service Cost

This expert advisor can be purchase outright for $19, there is no option torent it, most likely due to its lower price. There is also a free version available, this will have some limitations to it but we do not know what they are, it is also a chance to try out the expert advisor before purchasing. It seems that the free version is able to backtest only rather than actually function properly for you.

Conclusion

There aren’t actually any reviews available, however, there are a number of comments which have peoples’ opinions in them, the creator also seems to be quite responsive and is replying to comments in a prompt manner.

“This is a fantastic product.” – User Comment

As there are no reviews, we do not have a good understanding of whether or not the expert advisor is doing what it is meant to, due to this we would highly recommend that you download and try the free version, this was you can make sure that it is working how you need it to and that are you able to successfully get it set up, do this prior to making a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/9233

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Forex Service Review

Price Trend Light True Price Indicator Review

Price Trend Light is an indicator that can be found within the MQL5 market, we have linked to it below so you know exactly which indicator we are looking at. The indicator was first released on the 5th of October 2015, it has been updated a number of times, the most recent update was on the 8th of June 2016 and the indicator is currently on version 2.1.

Overview

The Price Trend Light indicator was designed to be used on the MetaTrader 4 trading platform. It was designed to follow the movement of the prices and to provide information on trends to follow with breaks on the maximum and minimum values. It has simple graphics built-in to try and keep things as simple as possible. Alerts can be set up when the indicator sees prices cross the tend levels.

The input parameters that are available to be changed are:

  • TimeFrame Period
  • Rectangle Graphic Setup (colors, line style, width…)
  • Sound and Popup Setup
  • PopUpModeMinMax to enable PopUp on High/Low signal
  • PopUpModeOpen to enable PopUp on Open signal
  • SoundMode to enable Sound
  • Sound: you can change with your favorite sound

Service Cost

The Price Trend Light indicator can be purchased for $30, this buys the indicator outright for unlimited use, there is also the option to rent the indicator for 1 month, this will cost you $10 per month. There is also a free version available, this will allow you to test out the indicator, we are not sure what the limitations of the free account are.

Conclusion

There are three different reviews for this indicator, the overall rating is 4.5 out of 5 stars which is a very good score.

“Very nice tool” – User Comment

“Nice indicator!” – User Comment

They don’t really give a lot of information, so we would recommend that you download and try out the free version, this will give you the opportunity to try out the software and to make sure that it is functioning properly and that you are able to set it up to work as intended.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/12120

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Forex Service Review

Forex Godzilla EUR/USD H1 EA Review

ForexGodzilla EUR/USD H1 is found on the MQL5 marketplace under the Experts subcategory. The indicator was created by Raphael Schwietering and was uploaded on the 22nd of March 22, it has not received any additional updates so it is still at version 1.0 of the software.

Overview

ForexGodzilla EUR/USD H1 is an expert advisor that can be used with the MetaTrader 4 platform, it was designed as an automated trading strategy but we don’t actually know what the strategy is, this is a little concerning as there are a number of parameters available, adjusting these can change the way the EA functions but we do not know how they will affect the strategy used. The only information that we do know is what we have written below, and also that the EA does not use the martingale, grid, arbitrage, or scalping methods.

Plenty of additional features that come with the expert advisor, these include working with 4 or 5 digit brokers, it has a spread filter, an equity stop functions, offers drawdown protection, takes profit bracket functions, to stop trading once take profit or stop loss target is reached, fast buttons for order types, an information panel, 5 types of money management including fixed lots and percentages, adjustable trading times, and an advanced algorithm for entering the exiting the markets.

As mentioned above, there are also some parameters and settings that come with the EA which allows you to alter its functions. Some of these inputs include showing the information panel, magic numbers, lot sizes, risk management settings, take profit and stop loss goals, maximum spreads, slippage, minimum equity, and many more.

Service Cost

ForexGodzilla EUR/USD H1 is available to be purchased with a one-time payment of $349, this allows you to activate the EA up to 50 times, it does not come with any further limitations. There is also the option to rent the EA, this can be done yearly and will cost you $299 per year to rent. A free demo version is also available, this comes with a limitation of only being usable with the strategy tester within the MT4 platform, it cannot be used with a live account.

Conclusion

Unfortunately, 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 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.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47529

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Forex Service Review

NP Fincone FX EA Review

NP Fincone can be found on the MQL5 marketplace and was created by Mikita Borys and uploaded to the marketplace on the 12th of March 2020. The software was uploaded to the marketplace as version 3.0 and has not received any further updates so it is still at version 3.0.

Overview

NP Fincone is an expert advisor that was created by Mikita Borys for the MetaTrader 4 trading platform, the EA is an automated trading system that is used to determine the direction of the trend in order to work out entry points into the markets, the EA is a night scalper so it works predominantly during the night and is based on the same authors’ own indicator.

The EA is based on the strategy of night trading, it works only with the EURUSD currency pair and on the M15 timeframe, it has not been optimized to work with any other pair or timeframe. The Ea will use take profits and stop losses on all of its trades and will open up positions between 00:05 and 08:20 Moscow time. The Ea also has unique functions for saving profits but it does not mention what they actually are, it also has a lossless function, again no details as to what that actually is.

The EA also comes with a trailing stop feature that can help make profits risk free, the EA can only be used with the MT4 platform and no other platforms, you are also able to do your own trading on the account and this will not affect the EA in any way, it is recommended that you have a minimum account value of $100 but the higher the better you should also use a VPS server as it runs at night.

The EA does not use any dangerous strategies including martingale, grid, or averaging, as these strategies can cause a lot of drawdown on accounts by opening up additional positions when the market move against you and have the potential to blow even the largest of accounts.

It is not clear if the EA comes with any parameters that can be altered as they are no mentions of them on the description of the EA.

Service Cost

The EA can be purchased with a one-time payment of $750, once purchased you will get up to 5 activations of the EA with no other limitations. There are also options to rent the EA should you prefer to do it that way, these will cost you $300 if you rent it on a monthly basis, you can also rent it for three months which will cost you $600 for that timeframe. A free demo version is available to download, this can be sued with the strategy tester with the MT4 platform rather than on a live account.

Conclusion

Unfortunately, at the time of writing, there were no reviews or comments available so we do not have a good understanding as to whether those that have purchased or rented the EA are finding it useful and profitable, it also means that we cannot see what the support for the EA is like. Due to both of these reasons we would suggest trying to get in contact with the developer before you make a purchase, this way you can make sure that it will work for you and that the creator is there to offer you support should you need it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47196

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Forex Service Review

Oil Pumper WTI H4 Expert Advisor Review

Oil Pumper H4 was first uploaded to the MQL5 marketplace on the 15th of August 2019 by Marek Kupka. It has not received any further updates since being uploaded and so it is still on version 1.0 of the expert advisor.

Overview

Oil Pumper H4 is an expert advisor that was created for the MetaTrader 4 trading platform. The EA works by looking for breakouts from the highest level, it will use stop pending orders with a fixed stop loss, it will also use trailing stops to maximize profits. It has been designed to work with Light Crude Oil (WTI) and will function on the H4 timeframe.

The main features of the EA:

  • At 9:00 pm we are closing trading every Friday to prevent from weekly gaps.
  • Adjust these times to your broker time. Preset values are for UTC+2 only
  • For every candle, the pending orders are modified to adapt the market behavior.
  • Everything is already set up for the H4 timeframe.
  • You need to set only the lot size depending on the amount of capital in relation to the expected risk.

Some additional features of the EA:

  • Each trade is protected by Stop Loss.
  • No martingale, no grid, no scalp, no hedge, no latency, no-arbitrage.
  • No excessive consumption of CPU resources.
  • User-friendly settings.
  • All settings optimized.
  • Long-term strategy.

There are also some settings and parameters available to change, there are a few options available. These include lot sizes, magic numbers, custom comments, email notifications, and to display the info panel.

Service Cost

The Oil Pumper H4 EA can be purchased for $99, this is a one-time payment that will get you up to 10 activations and no other limitations. There is not an option to rent the EA, so purchasing it is the only option available. There is also a free demo version, the features of the free version are not stated which often means that it can only be used with the strategy tester.

Conclusion

There aren’t any user reviews or comments so we do not know if those that have purchased it are finding that it does what it is intended to do or what sort of results they are getting. It also does not give us an indication as to the sort of support that you will receive if you were to purchase the EA. We would suggest contacting the developer with any questions you may have, this way you can make sure that it will, in fact, do what you need and that the developer will be there to offer support once the EA has been purchased.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/41284

Categories
Forex Service Review

NightWalker EA Review

The Night Walter EA can be found within the Experts section of the MQL5 marketplace, we have provided a link to it below. The expert advisor was first uploaded to the marketplace on the 5th of March 2020 by Roman Lengert, it has had a number of updates, the most recent update was posted on the 16th of March 2020 and it is currently on version 4.1.

Overview

The NightWalker EA was created for the MetaTrader 4 platform, it is a multi-symbol mean reversal system. It does not use the martingale or grid systems and uses fixed stop losses for each position. The expert advisor will only trade during the second half of the New York session and the start of the Asian session.

The main requirements needed for the expert advisor to function well:

Symbols:

Time frames: M1

Min Deposit: $300 to $1,000 (smaller deposits mean more risk).

Historical Drawdown: $83 per 0.01 lots.

There are a number of different parameters and settings available, some of them include the symbol suffixes, lot types, lot sizes, fixed lots, max spreads, max number of positions, equity per step, lot er step, weekdays to trade, currencies to not allow on Friday, and many other options are available too.

Service Cost

The expert advisor can be purchased outright for $600, this will give you unlimited access to the EA without any limitations. If you do not wish to purchase it outright, you can also rent it, you can do this on a monthly basis for $50 per month, or $120 for three months or $220 or6 months. There is a free demo version available, but we do not know wha the current limitations of the free version are.

Conclusion

At the time of writing, there are currently 13 reviews available, these are giving the expert advisor an overall rating of 4.5 out of 5.

“I waited a long before the review trades 90% not profitable in aaafx. The developer although it is excellent, very helpful. The problem is that the first hour of Asian session has now very high spreads something that didn’t happen some years before.” – A 3-star review.

“Since more than 2 months now this EA is running on my live accounts and it’s durable profitable with a very good risk management. The support of Roman is great and he is very helpful. So I give a 5-star recommendation as I’m convinced it’s a great EA not just for now but for a long time.” – A 5 – star review.

“I think this is the best EA in mql5, I used it for more than one year and got a good result. and the author is very helpful. One more I use NY Close Scalper together just like the author in his signal. Very good job!” – A 5-star review.

So the majority of the reviews are very positive, there are also 200 comments, Roman (the creator) is replying tot eh comments in a very prompt manner which is a good sign for the possible support that you will receive. Due to the high price of the EA, we would highly recommend that you download the demo to test out and also ask the developer any questions that you may have, this was you can be sure that it is right for you before making a purchase or rental.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/24708