Tag: Forex EA

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Forex Indicators Forex Signals

How Do Forex Robots Actually Work?

What’s this about trading robots? Do they work? Are robots bad? Many questions are those that usually roll in the head when you hear the word “robot”. In the article I write today, I will try to expose what is this about Forex robots and everything that affects them, as well as some myths and […]

What’s this about trading robots? Do they work? Are robots bad? Many questions are those that usually roll in the head when you hear the word “robot”. In the article I write today, I will try to expose what is this about Forex robots and everything that affects them, as well as some myths and […]

What’s this about trading robots? Do they work? Are robots bad? Many questions are those that usually roll in the head when you hear the word “robot”. In the article I write today, I will try to expose what is this about Forex robots and everything that affects them, as well as some myths and realities. Let’s discuss…

How Do Forex Robots Work?

Before you start talking about how they work, do you know what a Forex robot is? A robot is nothing more or less than a few lines of code with clear rules of entry and exit to the market that are executed automatically. All this applied to the Forex market would simply be an automated strategy that buys and sells in the currency market. They are also called EA (Expert Advisor).

When I told you what it is, I explained how they work. But hey, can you make money with robots, or are they a scam? The performance or results of these automated strategies will depend on these previous strategies and their supervision, so if they are not profitable from the start, no matter how much they are automated they will not be. But if the strategy that is programmed is good, the result may be better.

Key Advantages

One of its great advantages is to be able to quantify the performance of the strategy that has been programmed. With a programmed strategy, you can perform a backtest and evaluate how that strategy has behaved before. If you have done discretionary or manual trading you will surely have tried different systems without having statistics or results of whether they have worked or not in the past. Come on, you’ve been playing with your money without knowing if what you were doing was profitable or not. Think for a moment, if you don’t quantify, how are you gonna know you’re making progress?

You need objectivity in making decisions when you make decisions. Otherwise, your results will be affected by your interpretation and here you have a good extra factor to make a mistake. How are you going to correct it? Systems or robots allow an objective market approach.

As you know, the accuracy of execution when trading is key. When you trade manually, you analyze wait for the moment and execute the order. When the process is automated, the order is released in less than a second without hesitation or analysis, or thoughts.

Another advantage more than considerable is that to execute the operations you do not have to leave your eyes looking at graphics for hours. You can do it uninterruptedly over time, even if you’re not in front of the screen. If you’re on a trip for a week or you have to do anything to stop you from being there, your operation may be running simultaneously. Be very clear, however, that they must be monitored and that the creation of automated systems requires time and work.

Closely related to the previous one, with robots you can trade in different assets simultaneously. Manually we are limited in this aspect. So you can diversify without problems.

And yes, the psychological approach. As you know, in this trading, psychology is important and it affects a lot. When the strategies are done in an automated way you reduce the psychological component quite a lot since your buying and selling decisions are not biased by your psychology. I say it’s reduced because you have to know that when robots have a negative or positive performance it will still affect you. But the main difference is that the results affect your psychology and not your decisions as it usually happens when operating in a discretionary manner.

Key Disadvantages

Although the advantages are clear, there are disadvantages. Most of the robots that are marketed on the Internet are based on martingales, grid. that reflect very good results and almost perfect performance curves but one day they break. Why? Because of the aggressive risk management rules they use. If you don’t think so, try downloading some for free and look at their results over a long period of time.

Why does this happen? Creating a good, cost-effective automated system is not easy. Programming a martingale or grid is not easy. So before you buy any robot, make sure they don’t use these techniques and that there’s no one hiding under a brand that can disappear tomorrow.

As for disadvantages when trading with robots something important is any technical failure that may arise and cause it not to run well. It is advisable to use VPS (a private virtual server) if this failure can affect your operation. I explain what a VPS is in this video:

Although it’s something that’s never happened to me yet, it is something that can happen. But it is as if the Internet connection fails. Also, failures or errors when programming the strategy (before executing it in real test it in demo or with very little capital).

Disadvantages are anything you might think might affect something that’s running remotely. Many such tasks already exist in different areas today.

What are the Limits of Robots?

We could say that robots do not work (always). I mean, there are systems that work perfectly for many years, but the vast majority die first. So? The solution is to have clear rules to disable these robots. If you don’t have an established plan, what are you going to do if your robot keeps losing money? Learn how to manage them.

Another limitation when using automated strategies is the over-optimization of parameters. What is that? Adjust your variables so that past results are very good. What’s the problem here? That we don’t know what’s going to happen on the market tomorrow, so it’s very likely that that robot won’t work well with new data when you apply it. Solution? Create a strategy and then validate it. Not the other way around. Remember that it is not about looking for perfect results, it is about getting real results.

Robots do not do magic, they have an added value with respect to manual trading that is quite clear, but it is something that you connect and you sit down to see how you drop the money. To take advantage of them is to be intelligent, but to ignore limitations is to be naive.

How to Choose A Forex Robot?

We talked about an important point earlier. Avoid using robots that apply aggressive risk management. If you’re going to choose a robot, spend some time contacting the person who created it, their background.

Don’t buy on pages you don’t know, in fact, I would tell you not to buy a robot as such but have expert supervision. As we’ve already seen, robots need to be managed. Be sure that you are able to learn to do all this by yourself in a simple way. You also have other alternatives in portals like Darwinex.

How to Program a Forex Robot

Today there are many tools to do so. From my experience, don’t get complicated and use those that allow you to start with a short learning curve. Some tips to create a good robot:

Set clear market entries and exits.

These things have to be made as easy as possible. You don’t need a thousand lines to make it work. Use the rule that your logic fits in a post it.

  • Always use stop-loss unless you don’t use any leverage.
  • Do it on assets that have liquidity so as not to pay a surcharge.
  • Schedule them to run in hours where there is volume on the market.

The Best Account Types

The most suitable accounts for trading with robots are the same as for manual trading. Accounts with low spreads, direct market execution, and adjusted swaps. Forex brokers are many, but with these features no longer so many. It is important that no use standard accounts or the behavior on the outcome curve you are going to get will be very different.

The Best Forex Robots

The best robots are the ones you know and create. Those that you can build in a simple way and also do different tests of robustness to know first hand their weaknesses and strengths.

For me, there are no good robots or bad robots. There are robots that work and there are robots that don’t work. I try to apply those who do and discard those who stop. I use more than a hundred strategies that I monitor daily and follow up. In this way everything is dynamic and although there are always strategies that do not work over a limited period of time, which is involved is that there are others that generate more than those.

Manual Trading or Robots?

Within the world of investment and trading, there are defenders of manual trading versus robots and vice versa. To say that manual trading doesn’t work seems very bold to me. In case a person hasn’t worked, why won’t it work?

After all, a robot can be a manual trading system that runs automatically. Provided that there are clear rules and a methodology, it is clear that both can be valid. Now, a forex robot has a number of advantages over manual trading that it doesn’t have. If we have the ability and the judgment that a person can have and the means to carry it out through robots, why not use both?

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Forex Signals

A Prop Traders’ Take on Expert Advisors

As trading in the currency market may be a completely dissimilar experience for different traders, a single piece of advice may also apply differently across different people’s careers. If you feel that a specific set of instructions is not working out for you, while others seem to be doing quite well following the exact same steps, understand that there are more things at play aside from technical suggestions and tools.

As trading in the currency market may be a completely dissimilar experience for different traders, a single piece of advice may also apply differently across different people’s careers. If you feel that a specific set of instructions is not working out for you, while others seem to be doing quite well following the exact same steps, understand that there are more things at play aside from technical suggestions and tools.

As trading in the currency market may be a completely dissimilar experience for different traders, a single piece of advice may also apply differently across different people’s careers. If you feel that a specific set of instructions is not working out for you, while others seem to be doing quite well following the exact same steps, understand that there are more things at play aside from technical suggestions and tools.

Money management, trading mindset, and overall psychology sometimes seem to be the main determinants of one’s success, which are only topped up by their pristine routine and theoretical knowledge. In fact, some experts assume that whichever way you decide to go about with a specific currency, be that long or short, is by far less important in comparison to an individual’s money management skills. Naturally, traders may want to take all preventative measures to increase their chances of succeeding while decreasing their losses. Some other specifics of forex trading, such as entry points, can thus be perceived as an additional vehicle that could help traders ensure smooth trading in the spot forex market.

Even more importantly, the understanding that the means to becoming a successful trader are naturally diverse, which further implies that traders can always discover a new, easier method that could land them more pips than ever before. Due to supporting the maintenance of an inquisitive approach, this article covers the topic of expert advisers in an attempt to assess and present some important conclusions regarding this matter and provide forex traders with more opportunities to expand their vision concerning this market.

Forex expert advisors, or in other words robots, stand for a program created for the purpose of managing a trade more efficiently and earning more money as a result. Once plugged in any trading or charting software connected to a trader’s account (Metatrader 4 as the most widely used today), an expert advisor is meant to give signals and guide individuals throughout the trade on the basis of the program. The programmers behind these algorithms which are aimed at directing traders in their trades create codes that serve as a business plan. As code writing is a lucrative business, many seem to be interested in creating these programs and selling them for a particular fee despite not really knowing much about the market itself, which is unfortunately quite often the case.

As the aim of every trader is to establish a continual flow of income, this solution may seem like a perfect fit for anyone who is less impressed by the challenges of sitting long hours at the computer trying to grasp the essence of this market. Owing to high demand for any driver that could bring money with less effort, expert advisors have grown to become a large industry as they are now sought by many currency market participants. 

While market enthusiasts who can navigate the programs to their benefit may certainly exist, anyone attempting to secure their financial stability via code is advised to exercise caution. The best approach to discovering and using an expert advisor (or EA) includes properly conducted research and testing as any rash, blind purchase on a random website may turn out to be quite costly in the end, both literally and figuratively. Any product advertised online will typically have a carefully structured description that was designed in a way to appeal to a potential customer, so the manner in which a product is advertised does not necessarily confirm its effectiveness and efficiency. Many traders sharing their experiences with these robots online have seen the dark side of this business, as they claim to have tried a wide range of different EAs before disappointment sparked their interest in understanding the market and the tools better.

Some prop traders even seem entirely certain that finding a valid robot to manage people’s trades effortlessly on their behalf is rather arduous work, further stressing the importance of carrying out detailed research that would prevent any misfortunate outcomes from happening. The likelihood of getting hold of a good EA is, therefore, not impossible, yet the task itself is just incredibly challenging. Should you, however, be able to get your hands on one such good EA, a number of prop traders would assume that your battle for securing a stable money flow would then be over, as your program would in that case be providing you with stable wins in a row. 

The chapter of expert advisers then truly requires traders to challenge and analyze any EA that they come across, especially because, as discussed above, many codes have been written by programmers who possess little knowledge of the nature of forex trading. Whereas some experts in this market did think about atomizing their algorithms, they decided not to go along because they realized that the technical side is precisely that – a side or one side of the story, and how any trade they have ever entered required a fair share of intellectual work as well. Programs simply cannot account for this aspect of human existence or ability, which significantly reduces any program’s chance of being a sole tool for traders to rely on.

In addition to the human factor described above, there is another aspect of the spot forex market that a program of this sort is highly unlikely to track or take into consideration. As many traders already know, the currency market often undergoes many changes, so we go from periods of consolidation to quite volatile market moves, sentiment-caused reactions, and the impact of news events, among others. Unfortunately, these programs are often only designed to work properly under one such market condition, which could make any trader believe it is a work of art, but only for a while, that is until the market changes its modus operandi.

Many traders primarily seek this product so as to avoid the strenuous process of learning that naturally slows down the time span required to start making money from trading currencies. The desire to escape the reality of doing a job we dislike, living in underdeveloped countries, becoming rich quickly or any other reason that involves the need to rush things for that matter inevitably reduces traders’ odds of making their forex trading career take off. These are some of the main causes of failure in this market and most probably the sole reason behind the longevity of this robot industry. Prop traders, who are incredibly well versed in all aspects of the forex market, often describe the EA industry as a game for luring impatient individuals into falling for a scamp, may it be for at least a few months before they turn around and accept the sobering reality.

The pool of traders who display insatiable hunger for success never seems to be able to dry up, so in order for you to take necessary precautions and protect your finances, you should note down several key steps to follow before signing any contracts or paying some of your money. One of the first and most important points to consider includes results, as this is essential data that many companies omit in their product descriptions.

Actual numbers and tangible results are vital and they ought to back up any convincing story used for advertising a program of this kind. It is interesting how these same products are still sold despite the lack of quantitative information that traders should seek prior to the purchase. If you just quickly investigate these companies with your browser now, you would be able to discover that traders are mainly asked to trust the program and the selling company rather than form their opinion based on some real evidence. 

Aside from evidently refraining from supporting their claims with numbers, these EA selling companies also often use quite manipulative tactics to blur traders’ vision and trap them quickly before they figure out the true nature of the product. These sly maneuvers frequently entail adding a spreadsheet with numbers that have no realistic grounds. The companies often insert the data that they create freely and present them as real evidence of a product’s quality. So, should you see any factual information concerning the number of pips produced in a month, you should really think twice and seek to find more information about the company and the product.

In spite of their fraudulent nature, these companies seem to be in the clear when it comes to penalties and punishment. The fact that such companies can simply get away with these activities can be connected to their country of establishment, which are typically either quite far away or do not need to obey international law.

Playing with numbers is unfortunately only one of many different manners the robot industry can trick traders – for example, any such program can be created in such a way that traders are presented with some unbelievably good, blow-out-of-the-proportions data, when in fact the money management was just tweaked to exaggerate any wins. What is more, these programs can also be developed so as to only show you the wins, while any losses are simply not included in the calculation. While the information on the wins may even prove to be legitimate, the number of hidden losses may substantially exceed the wins. 

Some sellers may decide to show you a top-winning robot based on having a large number of accounts and different robots running on each of them. Some others may try to lure you with a promise of earning a staggeringly high number of pips which is simply impossible in reality. These linguistic games also include presenting information on an impressive return that is, unfortunately, a product of overleveraging, which only tells you that the risk of your account being wiped out has increased instantaneously. These tricks are numerous, yet the companies will see your account go down and it is not them who will have to worry about the consequences, which is why every trader needs to make sure that he/she obtains all the information in advance.

Strategies such as Martingale, for example, make traders double up every time they lose until they finally win, which is followed by a break-even, offering them to keep all their wins. Alas, if this approach led to anything good in the long term, people would not be losing their houses in casinos. In addition, some other sources that once used to be credible, such as MyFXBook – a website used for tracking results, are no longer classified as trustworthy due to alterations done intentionally to get to traders. Therefore, anything offered so freely, disguised under the “genuinely altruistic” or “highly efficient” tag, has probably been compromised for the purpose of amassing a fortune on the basis of your misfortune. 

 As invested and deep researchers of all matters pertaining to the spot forex market, prop traders are likely to leave room for finding an EA that actually works well and does not conceal any valuable information. Nevertheless, even if you believe that you have found “the one you have been looking for,” give yourself the benefit of properly (forward) testing it before you actually invest real money.

The best and the safest way to acquire in-depth knowledge about your program of choice is to use your demo account and really invest your time and effort into assessing this product over a longer period of time. Traders may need a minimum of one month before they are able to see how these expert advisors operate, which is why extending this testing process to a few more months, without feeling scared of investing since fake money is used, may be the wisest decision before committing to tying your real account to one of these programs.

The percentage of dissatisfied customers is said to be extremely high among the group of traders who have purchased and used these programs in the past. The one way you can protect yourself against the robot industry’s creative tricks is to carry out extensive research and maintain a degree of suspicion regardless of the testimonials or results that the related companies may present on their websites. Should you decide to indulge and purchase one of the EAs whose advertisement you found to be credible, you should definitely demo test it and track the results for a period of one month at least. Only once you have accumulated the results you are satisfied with can you actually move on to plugging the EA into your real account, and rather invest small before confirming the previous success with your real money.

Lastly, in spite of the ease that the possession of such a program could bring about, these quick solutions, and most importantly the need for the psychological hunger to progress fast, may not be the road worth taking long-term. Rather choose to be a good trader in control of your account than hope for wins and rewards will follow naturally. In case you find an EA that works long term, if it adapts to new market conditions, if it has sound risk management implementation, use it as much as you can but still be ready for sudden losses your account should endure. When all is said and done, the search for a great EA could be as time-consuming as making your own manual trading algorithm minus the trading experience, which is irreplaceable. 

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Forex Videos

Forex Trading Algorithms Part 5 Elements Of Computer Languages For EA Design!

 

 

 

Trading Algorithms – The Elements of a Computer Language – Part III: Objects

 

The most striking feature of modern programming is object-oriented programming. This video will explain the underlying philosophy and why OOP is such a big deal in modern app development.

 

Procedural programming versus OOP

Traditional programming is based on procedures or functions applied to a pre-defined collection of data structures. The main procedure starts moving and modifying variables and structures to obtain an output to print or display on a screen. 

The main drawback is that most of the primary data is globally allocated and potentially modified by other application sections. Thus a change to improve or correct one section of the code may interact with other sections, potentially creating hard to detect new bugs. The maintenance of large projects based on procedural programming is a nightmare, especially when a different programmer has to do it.

 

Object-oriented programming, on the other hand, uses objects with their own inner data structures. So, code mods happen within a single self-contained object, and any new bug is limited to that object.

 

Classes

The basic unit on Object-Oriented Programming is the Class. A Class is the description of an Object. Then, several objects are to be created using that Class description, called “instances” of the Class. 

Simply put, a Class is a collection of data structures and the procedures or functions allowed for these data structures. Classes provide data and function together. 

In our real-life, we are surrounded by objects with shape and functionality, such as cars, TVs, houses, and pants. All have their intrinsic properties. A vehicle has an engine, four wheels, battery, throttle, brakes, steering wheel, doors, seats, and so forth, and all these parts are also objects. But not all cars are equal; brand, color, engine power, seat materials, etc., change. That also happens with computer objects.

A new class can be created from a parent class, with new functionality, or with changing functionality from the parent class in a process called “inheritance.”

 

An example of a class

The Bag class is just a container for other objects. We can add or take out items to and from the Bag. The main data storage is in the self.data variable. But, bear in mind that self.data is different for every new Bag object created!. We can see that the data structure of the Bag object cannot be accessed but with the supplied methods, add, sub, and show.

 

A Python financial class

A financial class can be made of around a historical OHLC data structure. Using it, we can create new information such as indicators and various stats, such as swing high/low length and duration statistics, and other information related to price analysis and forecasting.

You can see an example of what a pro-built class can do by looking at the stock-pandas class package documentation. We can see that the stock-pandas project is solely focused on the creation of a class to handle statistics and indicators for a financial data series, presenting a complete package.

As we can see, the advantages of OOP are huge. Packages can be built, which, later, can easily be versioned, updated, and expanded. The creation of apps using classes and OOP is much more straightforward, so the time needed to complete a project is shortened drastically.

Now that we have reviewed the basics of modern programming, let’s move back to trading algorithms.

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Forex Service Review

Spider Grid Forex EA Review

Spider Grid EA is an automated trading system that trades in all time frames, in all currency pairs, and other financial assets. The EA was created in 2016 by a developer named Mikhail Paramuzov. The user must choose the financial asset and the time frame they want to use. The EA uses a four-tier signal […]

Spider Grid EA is an automated trading system that trades in all time frames, in all currency pairs, and other financial assets. The EA was created in 2016 by a developer named Mikhail Paramuzov. The user must choose the financial asset and the time frame they want to use. The EA uses a four-tier signal […]

Spider Grid EA is an automated trading system that trades in all time frames, in all currency pairs, and other financial assets. The EA was created in 2016 by a developer named Mikhail Paramuzov.

The user must choose the financial asset and the time frame they want to use. The EA uses a four-tier signal confirmation system, which allows it to filter false market entry signals. 3 technical indicators are also used for trade. After receiving a market entry signal, the EA opens a market execution order, and at the same time, a take profit is established to close it.

Overview

The Spider Grid EA uses martingale, although to reduce risk it is possible to decrease or increase the martingale multiplier automatically. In addition, you can automate the change of way anywhere, expanding, or decreasing. The market is always unpredictable, so most of the time open orders wait to be closed, and can be from several hours several days, even weeks. In these situations, the EA does not expect the missing command grid to close, it processes all signals and transactions in both directions.

The main input parameters of Spider Grid EA are:

TF – Temporary Framework Expert Advisor

Rsiuperiod – the period of the RSI indicator

Mfuperiod – the MFI indicator period

Cciuperiod – the period of the CCI indicator

Count bars – The number of bars, this is the signal to open a position, which must be confirmed on these bars.

Max orders – Maximum number of orders

First lots – Initial order batch

Lot proc  from balance is a good function of the initial batch in % of the tank, if 0-disabled

Martin – Martingale

Martingale Plus – Change value of Martingale for each next order. If the value is positive, Martingale increases, if the value is negative, decreases, if 0-deactivated

Grid step – Step in the command grid

Grid step plus – Automatic step-change in grid commands. If the evaluation is positive, the step increases, and if the vaprayer is negative, decreases, if 0-disabled

Tp_pips – Take advantage in points

Sl_pips – Stop loss in points

Trail_sl_start – Final stop in points

Trail_sl_pips – Final stopping distance, valued at the points.

One cycle – When enabled, the EA stops opening new order series after closing the purchase and sales grid. Restart the EA to return it to normal mode.

Magic – Number of magic

Service Cost

If you are interested in this type of EA, note that it is available for purchase on the MQL market for a price of $30 USD. It also has a demo version so you can try it for free before buying it.

Conclusion

Make sure you use a VPS and a low latency broker to make optimal use of this EA. Spider Grid, as we have commented, uses the Martingale system. We are not very much in favor of using automated systems that use this system because of its high risk. We are sure that there are better alternatives in the market, although the truth is that, among its users, it has very good ratings, and we have not found any adverse criticism of this EA.

 

Categories
Forex Service Review

FXBot MT4 Expert Advisor Review

The FXBot EA uses its own built-in oscillator along with other tools (which the developer does not disclose) to assess market fluctuations (volatility, power, speed, and direction). At the right time, it puts on the market an invisible pending order, with which it continues to work in accordance with the trading mode set. For the […]

The FXBot EA uses its own built-in oscillator along with other tools (which the developer does not disclose) to assess market fluctuations (volatility, power, speed, and direction). At the right time, it puts on the market an invisible pending order, with which it continues to work in accordance with the trading mode set. For the […]

The FXBot EA uses its own built-in oscillator along with other tools (which the developer does not disclose) to assess market fluctuations (volatility, power, speed, and direction). At the right time, it puts on the market an invisible pending order, with which it continues to work in accordance with the trading mode set.

For the use of this robot, it is recommended to use a fast broker with low spreads and low commissions, accurate quotes, and without limitation of the size of the stop loss. All possible time frames can be used with this EA, both for short-term and long-term operations.

Features of Fxbot for MT4

  • Protection against the spread.
  • Protection against slippage or slippage.
  • It works without a grid.
  • He doesn’t use Martingale.
  • You put a small SL for each trade.

Settings

  • Aggressive – Pending orders can be moved in order to open a trade.
  • Standard – The pending order will be canceled when the market changes direction.
  • Only Best – Pending order is canceled when the market changes direction or loses steam.
  • Multi-Trading – More operations are allowed in both directions.
  • One Plus One – Only one trade in all directions.
  • Only One – Only one trade in the market.
  • Max Trades – maximum number of open trades.
  • Distance – Distance of pending orders from the price.
  • Sensitivity – Sensitivity of the indicator. Increased sensitivity = less operations.
  • Max Spread – maximum propagation size.
  • Max Slippage – maximum slip size.
  • Lot – Size of the value.
  • Auto Lot – Automatic batch configuration by account balance size.
  • Risk – Automatic volume calculation by account size and SL size.
  • Placement of SL and TP.
  • SLBE – Move SL to the open price.
  • Trailing Start – Start following SL on this benefit.
  • Trailing Distance – Following SL at this distance.
  • Close Order – closes trade after a specified number of seconds.
  • Panelypos – The position of the information panel on the y-axis.
  • Comment – You can post comments to the trades.

Service Cost

If you are interested in this EA, know that its price is 1,600 USD and that it has a demo version so you can know it and try it before your purchase. Available on the MQL market in the Experts section.

Conclusion

In short, we are talking about an EA that looks like a powerful tool given the features it shows. Feedback from users who have tested this robot is very positive. What we’re missing is an audited real account where we can see the real behavior of the robot. The developer just puts a screenshot of Myfxbook in his MQL showcase, which we can’t tell if it’s data from this robot or not. For this reason, we would refrain from buying this tool, At the very least, before buying a robot, you have to know the historical data in a real account.

 

Categories
Forex Videos

Forex Trading Algorithms Part 3-Converting Trading Strategy To EA’s & Elements Of Computer Language!

https://youtu.be/8Ijzx2ePYkY

https://youtu.be/8Ijzx2ePYkY


Trading Algorithms – The Elements of a Computer Language – Part I

 

A computer language is a formal language to convert our ideas into a language understandable by a computer. Along with computing history, languages have evolved from plain ones and zeroes to assembly language and up to the high-level languages we have today.

Assembly language

Assembly language is a direct link to the computer’s CPU. Every assembly instruction of the instruction set is linked to a specific instruction code to the CPU.  

Fig 1. The basic structure of an X86 CPU. Source cs.lmu.edu

The CPU characteristics are reflected in the instruction set. For instance, an X86 CPU has eight floating-point 80-bit registers, sixteen 64-bit registers, and six 16-bit registers. Registers are ultrafast memories for the CPU use. Thus every register has assembly instructions to load, add, subtract, and move values using them. 

Fig 2- Example of assembly language

source codeproject.com

A computer program developed in assembly language is highly efficient, but it is a nightmare for the developer when the project is large. Therefore, high-level languages have been created for the benefit of computer scientists.

The Elements of a high-level language

A modern computer language is a combination of efficient high-level data structures, elegant and easy-to-understand syntax, and an extensive library of functions to allow fast application development.

Numbers

A computer application usually receives inputs in the form of numbers. These come in two styles: integer and floating-point. Usually, they are linked to a name called “variable.” That name is used so that we can use different names for the many sources of information. For instance, a bar of market data is composed of Open, High, Low, and Close. We could assign each category the corresponding name in our program.

Integers correspond to a mathematical integer. An integer does not hold decimals. For instance, an integer division of 3/2 is 1. integers are usually used as counters or pointers to larger objects, such as lists or arrays.

A floating-point number is allowed to have decimals. Thus a 3/2 division is equal to 1.5. All OHLC market data comes in floating-point format.

Strings

A string is a data type to store written information made of characters. Strings are used as labels and to present information in a human-understandable form. Recently, strings are used as input in sentiment-analysis functions. Sentiment analysis 

Boolean

Boolean types represent true/false values. A true or false value is the result of a question or “if” statement. It can also be assigned directly to a variable, such as in

buyCondition = EURUSD.Close[0] > 1.151

In this case, buyCondition is False for EURUSD closes below 1.151, and is True when the close value is higher than 1.151.

Lists 

We usually do not deal with a single number. If we want to compute a 20-period moving average of the USDJPY pair’s Close, we would need its last 20 closes. To store these values, the language uses lists (or arrays in C++). A list is an ordered collection of values or other types of information, such as strings.

Since Lists are ordered, we can refer to a particular element in the list using an index. For instance, if we were to retrieve the candlestick Close two bars ago of the USDJPY, we would ask for USDJPY.Close[2]

Sets

A Set is an unordered collection of elements. Sets do not allow duplication of elements. That means it eliminates duplicate entries. Not all languages have built-in Sets, although it can be made through programming if needed.

Dictionaries

Dictionaries are a useful data type that maps a key to a value. For instance, in Python 

tel = {‘Joe’: 554 098 111, ‘Jane’: 660 413 901} 

is a telephone structure. To retrieve Joe’s phone, we would write:

mytel = tel[‘Joe’]

with mytel holding 554 098 111

As with sets, not all high-level languages have built-in dictionaries, but a savvy programmer is able to create one.

 

In the next video of this series, we will explain the elements for flow control.

 

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Forex Service Review

Volumes Server MetaTrader EA Review

Volumes Server can be found on the MQL5 marketplace, it was uploaded by Denys Shelashskyi on the 27th of September 2019, it has not had any further updates so it is still at version 1.0, with no updates added since that time. In this short review, we’ll let you know what to expect from this MetaTrader-based expert advisor. 

Volumes Server can be found on the MQL5 marketplace, it was uploaded by Denys Shelashskyi on the 27th of September 2019, it has not had any further updates so it is still at version 1.0, with no updates added since that time. In this short review, we’ll let you know what to expect from this MetaTrader-based expert advisor. 

Volumes Server can be found on the MQL5 marketplace, it was uploaded by Denys Shelashskyi on the 27th of September 2019, it has not had any further updates so it is still at version 1.0, with no updates added since that time. In this short review, we’ll let you know what to expect from this MetaTrader-based expert advisor. 

Overview

Volumes Service is an expert advisor that was created to be used with the MetaTrader 4 trading platform. The main purpose of the EA is to download data for indicators in the ClusterDelta series. So if you do not have the indicators that it works for, this EA will not be very useful. If you do not use the ClusterDelta indicator, then we would suggest not purchasing this expert advisor.

Service Cost

The EA can be rented, you can do this for a six month period which will cost you $30 for the six-month rental. There is no option to purchase it outright, there is a free demo version but we do not know the limitations of the free version as they are not stated on the site.

Conclusion

There is just one review available which has given the EA an overall rating of 5 out of 5.

“Perfect. I just hope Volume Profile and Footprint will be added soon” – A 5-star review.

The one review is positive, there are also a few comments in the comment section, the developer has been replying to those that required a response and seems to be offering good customer support, they have also provided a direct email for support which is a good feature to have. As mentioned before, this EA is only worth having if you already have the indicators that work with it.

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Forex Service Review

The Real Bank Robber Forex EA Review

The Real Bank Robber is an EA that was created by Oleg Arsentev in January 2020, so we are talking about a newly created tool. This robot, written by the creator Oleg Arsentev is based on his many years of experience in the Forex market. Trying to get “easy” money took him from one end […]

The Real Bank Robber is an EA that was created by Oleg Arsentev in January 2020, so we are talking about a newly created tool. This robot, written by the creator Oleg Arsentev is based on his many years of experience in the Forex market. Trying to get “easy” money took him from one end […]

The Real Bank Robber is an EA that was created by Oleg Arsentev in January 2020, so we are talking about a newly created tool.

This robot, written by the creator Oleg Arsentev is based on his many years of experience in the Forex market. Trying to get “easy” money took him from one end to the other. One way to another, another to the next, etc. And finally, he found a fascinating strategy. Everything is simple when a marked change in price appears, and at the same time there are a couple of conditions that will not be disclosed, the advisor establishes pending orders. When an order is activated, in a given period of time, the position begins to be followed by a Stop Loss.

Otherwise, after a certain time, the pending order is removed. According to the developer, this automated system is capable of generating positive returns year after year. The amount of profit depends only on the activity of the market. In the adjustments, there is a mandatory point to control the unexpected loss.

The grid strategy is missing. Martingale and Martingale are hidden, and (increase in the number of orders) are not used. This expert can negotiate with almost any standard broker. Therefore, the creator invites every trader to download the demo version, in order to be able to see the consultant in operation before contemplating a rental of the same.

The main features of this tool are:

  • Final stop
  • Stop loss
  • Takeprofit
  • Time to start – time to start work
  • Time to complete – time to complete work
  • Prefix for tool name – prefix for tool name
  • Tool name suffix – suffix for tool name
  • Double batch in reduction (no martingale) – fold lot in reduction (no martingale)
  • Stoploss for ‘Double lot’ – Stoploss to bend a lot
  • Time frame 5 – 15 min.
  • ECN account if possible.
  • It is advisable to use the default settings.

We are dealing with an enigmatic robot, of which we do not know all the details well because its creator has left several variables undisclosed.

In any case, it is a well-studied tool and the result of a long-term study. We have seen results from 2010 to 2019 and the reality is that they have all turned out to be profitable, even though we are talking about screenshots, so we will have to trust that this is the case.

Being a very new tool there are not many comments, but the few that there are very positive, so we can stick to the recommendation of the creator and try the trial version even in a demo account, to see the real functioning of the robot.

The Real Bank Robber is a robot that is only available for rent on the MQL market. The rental prices are 136 USD for 1 month, 400 USD for 3 months, and 782 USD for 6 months.

It is certainly not a tool for all pockets, it is a significant investment, so we insist, it is essential to try the free version and we can also wait a few months to see how the robot evolves and have more data and assessments from other users to know if it is so profitable.

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Forex Service Review

Universal Premium Expert Advisor Review

Universal Premium Expert Advisor is the premium version of Universal Expert Advisor, with both products being created by an undisclosed individual or company. The EA offers fully automated trading that is designed to bring in a hefty profit for any trader that uses it.  Overview Universal Premium EA is a beginner-friendly trading robot that offers […]

Universal Premium Expert Advisor is the premium version of Universal Expert Advisor, with both products being created by an undisclosed individual or company. The EA offers fully automated trading that is designed to bring in a hefty profit for any trader that uses it.  Overview Universal Premium EA is a beginner-friendly trading robot that offers […]

Universal Premium Expert Advisor is the premium version of Universal Expert Advisor, with both products being created by an undisclosed individual or company. The EA offers fully automated trading that is designed to bring in a hefty profit for any trader that uses it. 

Overview

Universal Premium EA is a beginner-friendly trading robot that offers simple drag and drop installation, along with preset settings that don’t have to be tampered with. The EA continuously looks for trades both day and night while employing protective stops to manage risk. Universal Premium EA can be used with all currency pairs and it is compatible with the ever-famous MetaTrader 4 platform, which is available through most brokers. Here are a few more of the EA’s features in a nutshell:

  • Works with all currency pairs
  • Compatible with the popular MT4 platform
  • Uses protective stops to secure profits
  • Works with micro, mini, and standard size lots
  • Automated stop loss and take profit

If you take a look at screenshots provided by the developer, you’ll see a high profitability (around 90% or higher) with a monthly gain of 83.71% for one of the months when the EA was tested. If you take a look at the non-premium version, you’ll see a much higher gain of 7000% over a 9-month period of time, which suggests that this version has not had time to become as established as the older EA, or that the developer simply didn’t take the time to provide as much proof. 

Service Cost

Universal Premium Expert Advisor is surprisingly available for €300 (roughly $354 USD), making it the same price as the non-premium version. Free customer support is also available to any customer that purchases this product. It seems as though this version works with all currency pairs and lot sizes, while the other version may or may not. However, it isn’t clear as to why the cost is the same for both, as the developer doesn’t paint a clear picture of the differences. 

Conclusion

Universal Premium Expert Advisor is advertised to have secured more than 7000% in profits in a 9-month period of time. The software is ideal for beginners, as it requires a slim $300 deposit, costs $300, and is fully automated with preset settings and easy installation. The advisor works with every currency pair and uses risk-management precautions, including protective stops and take profit levels to protect your profits. On the downside, user reviews aren’t available online, meaning you’ll have to go by the developer’s screenshots and trust those accounts of the product’s success. Despite the lack of reviews online, the developer does provide a decent amount of history and proof to back up this EA, but it would be nice to see results from a longer period of time.

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Forex Indicators

All You Need to Know About Manual Trading Vs. Copy Trading

These days, there are a lot of different ways that you can trade, two of the main ways that people trade include manual trading the art of performing all the market analysis yourself and then placing the trades, ad copy trading, the simple act of finding a trader that you believe has a good strategy, […]

These days, there are a lot of different ways that you can trade, two of the main ways that people trade include manual trading the art of performing all the market analysis yourself and then placing the trades, ad copy trading, the simple act of finding a trader that you believe has a good strategy, […]

These days, there are a lot of different ways that you can trade, two of the main ways that people trade include manual trading the art of performing all the market analysis yourself and then placing the trades, ad copy trading, the simple act of finding a trader that you believe has a good strategy, and simply copying their trades onto your own account. The latter is fastly becoming one of the more popular ways to trade with multiple platforms appearing allowing people to copy other traders’ trades. We are going to be looking at the advantages and disadvantages of both so you can compare which method of trading may be best suited for you.

Manual Trading

If we start by looking at manual trading, this is the traditional style of trading that you see in the movies or have most likely read about online. This form of trading involves you looking at the markets, working out the direction of your trade, and then placing your trade in line with your strategy and any risk management plans that you have in place. There are a number of different advantages when it comes to manual trading, the first point to make is that when you are trading in a manual manner, you are less susceptible to certain events such as economic news, simply because you are in control of your trades and can decide not to put any trades on during these times.

You are also able to perform better than a computer in regards to placing trades, simply due to the fact that you have experience, your own intuition, and are able to make decisions based on real-world events that a robot may not be able to. The other main advantage is simply the fact that as a human trader you have the ability to analyse more variables that influence the markets whereas a computer will not be able to.

Having said that, there are also some disadvantages to trading in a manual manner, this includes the fact that as a human, you are prone to emotions, these emotions can have an effect on your trading and can potentially cause you to make mistakes. Trading can also take a long time, time that you do not always have and so you may need to make sacrifices to other parts of your life to trade properly. Due to this, he may also have to sit at the computer for long periods of time, making it a little boring if nothing is happening. Your trading will also be limited to your availability, you can only trade when you are there at the terminal, so this will be limited by things like sleep and work.

So that is manual trading, but what exactly is copy trading? There are actually a few different versions of copy trading including, signals, mirror trading, and social trading. Each one has a similar concept, you are finding a trader and then simply taking their trades and putting it onto your own account, hence the term copy trading. It takes a lot of responsibility, but you are putting your accounts and trades in the hands of someone else. So let’s take a quick look at the different versions and advantages of these trading methods.

Copy Trading

Specifically for copy trading, there is a master account that is controlled by a person. Then there are then a number of copy or save accounts that are linked to that original account. When a trade is placed on the master account, it is automatically copied to the copy accounts. The advantages of this sort of trading include that you can trade with very little knowledge of forex, there is no need for you to monitor your trades all day long, you won’t miss any trades as you are taking the same ones as the trader is, you have the opportunity to learn from the taker by watching what they are doing, you are also able to diversify your portfolio while at the same time keeping your risk low.

There are of course some downsides to copy trading, these include the fact that your account is out of your control, you are automatically copying trades, so if bad trades are made, you will make them too. You also can’t make any decisions based on your own findings or initiatives. Finally, you won’t gain as much knowledge and experience simply copying someone rather than doing the work yourself.

Mirror Trading

There is also mirror trading. It probably sounds pretty similar due to the names of copy and mirroring. The main difference is that with copy trading you are copying from a single trader, with mirror trading, you are taking trades from a basket of traders, you don’t necessarily have a choice of which traders and which trades to mirror, just that you will get some from that basket of traders.

Some of the advantages of this style are the fact that it does not take a lot of time at all, the trades and analysis are done by other people. There is a reduced risk when compared to copy trading due to there being a choice of multiple traders rather than just one. The potential for consistent profits are higher and can be expected due to the trading models generated from mirror trading, there are also no emotions when trading like this as they cannot affect the trades that are being put on.

There are of course some disadvantages too, including the fact that you are not in control of the trades that your account is making, the algorithms used to choose the trades are also often not known which can make it hard to know why certain trades are being made. It is also important to note that this form of automated trading is not recommended for beginners, as you need some form of understanding when choosing which traders to have in your basket.

Social Trading

The other style of trading is social trading, this is a mix between the other two, this is where there is a kind of marketplace where you can view other traders or trades and choose which ones to copy, it gives little more control over what you trade and copy.

The advantage of this style of copy trading is that you have more control over what you are trading. You are also able to engage with other traders, getting and giving ideas on trades, and working out different reading strategies. There is often more information available on the traders so you can better analyze their trading strategy to work out exactly what you want to trade.

There are once again some downsides, including the fact that it can take a long time to work out who to follow due to the amount of analysis that you will need to perform, you may also miss opportunities for trades if you are not at your computer, some traders and news events can have more hype than expected, giving a false sense of confidence in certain traders and some of the social trading platforms can have transparency issues, keeping their workings and costs hidden from the copiers.

So that is manual trading and copy trading, there are advantages and disadvantages both, you need to work out which one will work for you, or maybe even try a little bit of both. There Is no harm in trying multiple methods, as a beginner, copy trading is perfect, but it is always good to learn on the side so that you can later be an independent trader with the ability to trade fully yourself and not have to rely on others.

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Forex Service Review

Forex Gump Expert Advisor Review

Forex Gump EA is a professional trading robot that was created by an undisclosed individual or company with the goal of bringing in automatic profits for any trader that purchases the software.  Overview Forex Gump EA automatically places trades on your trading account every day using a News Filter and candle. It offers a low, […]

Forex Gump EA is a professional trading robot that was created by an undisclosed individual or company with the goal of bringing in automatic profits for any trader that purchases the software.  Overview Forex Gump EA automatically places trades on your trading account every day using a News Filter and candle. It offers a low, […]

Forex Gump EA is a professional trading robot that was created by an undisclosed individual or company with the goal of bringing in automatic profits for any trader that purchases the software. 

Overview

Forex Gump EA automatically places trades on your trading account every day using a News Filter and candle. It offers a low, medium, and high-risk preference setting, which can really affect your risk tolerance and profits. The robot also uses a different take profit setting on every trade in order to find the best option based on the current market. These details help to provide better results. Here are some important facts about the robot: 

  • Works with 9 currency pairs: AUDUSD, EURCHF, EURGBP, EURJPY, EURUSD, GBPUSD, USDCAD, USDCHF, and USDJPY
  • Works on the M1 timeframe 
  • Monitors trends, prices, and news
  • Compatible with the MetaTrader 4 (MT4) platform
  • Trading preference can be set to high, medium, or low risk
  • The Expert Advisor uses a unique take profit order for every single trade which is adjusted according to the market’s current setup

According to the developer, the robot was able to profit more than 1000% in just one year. The developer attributes some of the software’s success to the fact this the robot does not fall victim to human emotions and that it never sleeps, although these facts are true for any Expert Advisor. 

Service Cost

Forex Gump EA requires a hefty deposit of $4,000 on a regular account, with a smaller option of a $40 deposit on a micro/cent account. Two versions of the EA are available, both offer a 30-day money-back guarantee, free updates, and 24/7 support. The cheaper option costs $199 and works on one live account while allowing one demo account. The second version works on three live accounts and allows for an unlimited number of demo accounts for $200 more. This appears to be for a lifetime license; however, the website does not state this outright. 

Conclusion 

Forex Gump EA is advertised as a profitable Expert Advisor that can be used by both beginners and professional traders with the potential to make more than 1000% in profits per year. The software works with several different currency pairs on the M1 timeframe while using adjusted settings for every take profit level and allowing users to choose their preferred risk level from high, medium, or low-risk choices. While it is difficult to find user reviews online, you will find several other reviews that have tested the product and posted their results online. This shows that others have in fact managed to turn a profit using this system, proving that Forex Gump EA is a profitable system that is likely worth its $199-$399 price tag.

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Forex Service Review

Fibo Heart Expert Advisor Review

Fibo Heart Expert Advisor is a tool that was created in May 2019 by developer Mohd Khairol Amin Ramli. This tool is designed for traders who want to place a pending order automatically, make profits, and stop losses. In this review, we’ll outline exactly what this Forex EA will potentially do for you. The Fibo […]

Fibo Heart Expert Advisor is a tool that was created in May 2019 by developer Mohd Khairol Amin Ramli. This tool is designed for traders who want to place a pending order automatically, make profits, and stop losses. In this review, we’ll outline exactly what this Forex EA will potentially do for you. The Fibo […]

Fibo Heart Expert Advisor is a tool that was created in May 2019 by developer Mohd Khairol Amin Ramli. This tool is designed for traders who want to place a pending order automatically, make profits, and stop losses. In this review, we’ll outline exactly what this Forex EA will potentially do for you.

The Fibo Heart EA strategy will put the boundary order after the checkpoint break. The position will be activated when the price makes a successful test. If not, the pending order will be automatically deleted after the price reached a certain level. You also have the option to enable market order (instant execution) and take personalized benefit in setting up entries. This EA must be connected to the Fibo Heart Indicator to work properly. The Fibo Heart Indicator can be found in the MQL market indicators section.

How to Use the Fibo Heart Expert Advisor

Attach Fibo Heart Indi (automatic fib indicator) to your chart. Fibo Heart Expert Advisor will automatically place your order, set the stop loss, and take profit on the fib level. This EA will not open commands if there is no Fibo Indicator on your chart.

Fibo Heart Expert Advisor input parameters:

-You can modify the tickets according to your trade.

-Lot size: Your order volume, default = 0.01.

-Follow the trend: This is for order mode either Normal (Buy & Sell), Buy Only or Sell Only. You can use these options to follow the trend for your order.

Instant Execution

-Enable market order: Option if you want instant EA execution enabled at market price, default = false.

-Market order tp: This is to take profit by market order if enabled, by default = Custom.

Custom Take Benefit

-Custom tp: You can set how many pips for profit. You can use for all orders (pending or instant), default = 5.

https://youtu.be/lv1SldWhWcM

Stop Loss

-Stop loss: Set your stop loss, default = true.

-Stop loss pips: You can set how many pips for your stop loss. Count from the monitor trading level, default = 50.

Auto Delete Pending Order

-Delete po tp1: Automatically set to delete the pending inactive command if the price reaches level TP 1, default = false.

-Delete po tp2: Automatically set to delete the pending inactive command if the price reaches level TP 2, default = false.

-Delete po tp3: Automatically set to delete the pending inactive command if the price reaches level TP 3, default = false.

-Delete po new fibo: Automatically set to delete the pending inactivated order if the flag draws new fibo, default = true.

Conclusion

In short, this is a tool for traders who want to base their operations on pending orders. Fibo Heart Expert Advisor works with the setbacks of Fibonacci, a tool widely used by traders. If you are a trader without experience in the markets, you cannot be familiar with Fibo setbacks, our advice is to study how they work before you try this EA.

We have not been able to see comments about the functioning of this EA, we understand that there are many Fibo-based EAs that are much simpler than this and more tested by the MQL user community.

Before purchasing, we advise you to download the demo version of this tool. We do not believe it is a valid EA for all traders, but for those who trade long-term with outstanding orders on long trends.

This EA is available on the MQL market at a price of 50 USD, and you can also rent it for 10 USD per month.

Categories
Forex Service Review

FireworX Evolution Forex EA Review

FireworX Evolution EA is a robot created in April 2020 by German developer Michael Martens. Fireworx uses ideas from Random Walk and Mean Reversion Money Market Focus. The EA was developed in 2019 and an expanded version of professionally managed real money accounts has been used since the beginning of 2020. The available version is […]

FireworX Evolution EA is a robot created in April 2020 by German developer Michael Martens. Fireworx uses ideas from Random Walk and Mean Reversion Money Market Focus. The EA was developed in 2019 and an expanded version of professionally managed real money accounts has been used since the beginning of 2020. The available version is […]

FireworX Evolution EA is a robot created in April 2020 by German developer Michael Martens. Fireworx uses ideas from Random Walk and Mean Reversion Money Market Focus. The EA was developed in 2019 and an expanded version of professionally managed real money accounts has been used since the beginning of 2020. The available version is equally suitable for cost-effective use and has a wide range of comfort and safety features. A range of information clearly shows all major performance data on icons and portfolios.

Adjustment characteristics and parameters:

  • Magic number: Used to corroborate EA and its operations (portfolio).
  • Take Profit Pips: first trade races.
  • Beast Mode Multiplier: Increases package wins with multiple games.
  • Use Silent Mode: sends TP to the server when false (Standard: true).

FireworX EA Settings

-Read Portfolio File (Komfortfeature): Read the objectives of the text file portfolio

-Max Spread for Hedge Exit: maximum differential allowed to exit a locked position.

-Dynamic filters (safety features): prevents re-use in certain market situations.

-Max Trades L/S, 1st Step, 1st Multi, 2nd Step, 2nd Multi: Parameters for the management of subsequent stages.

-Increase Lots: dynamic increase of the reference value in the later phases (true/false).

-Use Target Trailer: Trailer Trailing Stop to ensure an elemental position (true/false).

-Use Tick Mode: if “true” it is possible to trade with each tick.

Important Observations

The predefined parameters already give good results. The recommended minimum account size for these parameters (maximum 9 operations, start 0.01 = dynamic reference value) is EUR 30,000/CHF/USD for a marketed symbol (for example, EURCAD). All (main) markets are tradable and a spread of less than 4 PIP (default value) is recommended. Currently in demo account testing, 24 different coin pairs with two different sets.

In conclusion, it seems that we are dealing with a quite professional robot, or at least the developer makes us understand that its main use was designed for portfolio management and has now developed this EA for use in private accounts. In presenting this EA, the creator provides several screenshots with alleged benefits gained from managing this EA but does not provide an audited real account which is what would be desirable, and more knowing that this system has already been used previously for the management of foreign capital.

It is advisable to download the demo version to see how this EA works and see its results before renting this EA because it is not available for sale. The rental price of Fireworx Evolution EA is USD 179 per month, certainly a major investment that will not be available to many, and that will require a fairly large balance account to make it profitable to use.

Categories
Forex Service Review

Loodle Forex EA Review

Loodle EA is a Forex trading robot created in April 2020 by developer Raphael Schwiet. Loodle is a high-quality automated consultant who is fully optimized for the future market at EURUSD M15. It is specially designed for the latest market situations. It’s working with its own complex algorithm combined with some indicators to get entry […]

Loodle EA is a Forex trading robot created in April 2020 by developer Raphael Schwiet. Loodle is a high-quality automated consultant who is fully optimized for the future market at EURUSD M15. It is specially designed for the latest market situations. It’s working with its own complex algorithm combined with some indicators to get entry […]

Loodle EA is a Forex trading robot created in April 2020 by developer Raphael Schwiet. Loodle is a high-quality automated consultant who is fully optimized for the future market at EURUSD M15. It is specially designed for the latest market situations.

It’s working with its own complex algorithm combined with some indicators to get entry and exit opportunities. The entry and exit logic only works in Bar Close. This filters out market noise, dramatically accelerates optimizations, prevents hunting for loss of stop, and ensures proper operation in any runner with a reasonable length.

Loodle EA uses an advanced algorithm to find entry points as well as several additional filters to enter and exit the market. The EA was tested with historical data with exceptional results. The tests were performed with the actual tick date with 99.90% accuracy, actual propagation, additional slip, and high commission.

Loodle EA Characteristics

*Does not use toxic or dangerous strategies such as martingale, arbitrage, tick picking, no… curve adjustment, etc.

*5 years 99% test quality with 1 lot size.

*Backtest Method Faster with Model: Open Prices Only (Input and Output Logic Works in Closing Bar)

*There is no need for optimization.

*Optional TP /SL Basket function for daily earnings.

*When TP or SL Basket came to stop trading for the rest of the day and start the next day a new session.

*Best optimized for real market situations.

Service Recommendations

*Works best with 4-5 digit brokers.

*Propagation filter.

*Equity Stop.

*Protection of reduction.

*Take profit Basket Function.

*Stop-loss basket function.

*Stop trading the Rest of the day TP/SL Basket Reached.

*Quick buttons for closing open orders (Close all, Close profit, Close loss, Close buys, Close sells).

*Info panel with EA information.

*5 Types of Money Management (Fixed Lot, Percentage, Geometric, Proportional, Balanced).

*Negotiating times are adjustable.

*Advanced algorithm to get in and out of the market.

Functionality

Deadline: M15 (It is not recommended to use other deadlines for this robot, as they can only compromise the accuracy of operations.)

Symbols: EURUSD (This robot is not used in other pairs.)

Other Recommendations

Before using real money, test the advisor with minimal risk in the penny trading account. Use VPS or server with minimal network delays on broker server. Low spreads + low commission + quality execution – this is the main thing when choosing a broker for trading with this EA. Note that account coverage is allowed.

Conclusion

We have already analyzed other tools created by the same developer. In the case of Loodle, we are talking about an EA that works with the EURUSD in M15 time frames and using indicators that the creator does not reveal. And analyzing the rest of the characteristics we see that it is a product like another EA that has in the market MQL and that is called “Eagle EURUSD”.

Being also a product of very recent creation, we do not have comments from users who have already tried the tool and can tell us how their results have been. At this point, and given the little information provided by the developer, the most advisable thing in this EA is to download its demo version and know how it works, familiarize ourselves with its functions and see what results it gets, even if it is in a demo account.

Loodle EA is available on the MQL market at a selling price of 499 USD. There are also rental options, at a price of 199 USD for 3 months, 299 USD for 6 months, and 399 USD for 1 year.

Categories
Forex Service Review

Forex Kore EA Review

Forex Kore EA was created to trade automatically, without requiring any effort on the trader’s behalf by analyzing the past market in order to make decisions about which strategy to use and to predict future market patterns. The company behind the software is somewhat of a mystery and can only be contacted by submitting a […]

Forex Kore EA was created to trade automatically, without requiring any effort on the trader’s behalf by analyzing the past market in order to make decisions about which strategy to use and to predict future market patterns. The company behind the software is somewhat of a mystery and can only be contacted by submitting a […]

Forex Kore EA was created to trade automatically, without requiring any effort on the trader’s behalf by analyzing the past market in order to make decisions about which strategy to use and to predict future market patterns. The company behind the software is somewhat of a mystery and can only be contacted by submitting a ticket from the product’s website. 

Overview

Forex Kore is a fully automated trading robot that uses adaptive market analysis to make predictions about the current market based on past market patterns. This helps the robot decide which type of strategy to use based on the market’s current situation. It is advertised as being “simply the most advanced robot available to the public”, although this statement is more opinion than fact. Here are some of the software’s features:

  • Can trade in multiple (9) currencies simultaneously 
  • Precisely enters and exits trades at the correct price
  • Volume tracker
  • Easy installation
  • Designed to be “self-teaching”
  • Money-management tool helps to minimize risk

The product’s website claims that it was able to turn $5,000 into $384,474 with 7 years of full-time trading. They then go on to post photo evidence to seemingly prove this statement.   

Service Cost

If you open a cent account, you can deposit as little as $50 to get started using this robot. You’ll also need to pay $129 to purchase the trading software through what appears to be a one-time licensing fee. A 60-day money-back guarantee is also featured on the website for clients that are not satisfied with the product.

Conclusion

Forex Kore EA was designed to be 100% fully functioning without requiring any effort on the trader’s behalf. If claims of being the most advanced robot and turning hefty profits are true, then traders won’t have to put in much effort to become successful. The cost is fairly small; however, we were concerned about the information we found online after doing further research. Here are some user reviews:

“Support does not exist, I have three open tickets on their website, none that have a response. The EA traded fine for a while but has now stopped completely and the Experts tab is full of errors.” -fxfatcat

“From my own experience they just won’t reply to your emails once they realize they aren’t going to get more money out of you.” -Joe

As you can see, customer support is not always responsive and has even completely ignored some of its customers. This makes us wonder if Forex Kore EA actually honors its advertised 60-day money-back guarantee, or if support would simply ignore any trader asking for it. We aren’t saying that this is a product to stay away from completely, but don’t trust everything you read on the website, and be sure to keep a close eye on the robot if you choose to buy it.

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Forex Service Review

News Scope EA Pro Review

News Scope EA PRO is an automated system that was created in February 2020 by developer Lachezar Krastev. News Scope EA PRO is based on a highly efficient and potentially profitable strategy for high-impact news trading. Normally, when a relevant news event is broadcast, the price moves in one, or both directions and this creates […]

News Scope EA PRO is an automated system that was created in February 2020 by developer Lachezar Krastev. News Scope EA PRO is based on a highly efficient and potentially profitable strategy for high-impact news trading. Normally, when a relevant news event is broadcast, the price moves in one, or both directions and this creates […]

News Scope EA PRO is an automated system that was created in February 2020 by developer Lachezar Krastev. News Scope EA PRO is based on a highly efficient and potentially profitable strategy for high-impact news trading.

Normally, when a relevant news event is broadcast, the price moves in one, or both directions and this creates an opportunity for scalping in the short term. If the extent of price movement is significant enough, the cold trader earns 20, or in some cases even more than 100 pips in a few seconds. Of course, nothing is perfect and liquidity problems at a time of such high volatility could lead to increased spread, delayed implementation, and slippage. In recent years, however, the conditions of brokers are continually improving and the spread of the most important news is better than ever. This creates an excellent opportunity for relevant news trading.

News Scope Features of EA PRO

  • Semi-automated and fully automated modes.
  • Precise time and news detection filters included.
  • High propagation detection filter.
  • Single or multiple cascade command modes.
  • Go out for a final stop, or recoil detection.
  • NFP and FOMC trading modes.
  • Support for multiple currency pairs.
  • The only option for longs and shorts.
  • Customized time management function.

If you are a trader who likes news trading, News Scope EA PRO can be a good tool for you. The recommended time frame is M1. The recommended currency pairs are EURUSD, USDJPY, USDCAD, AUDUSD, and GBPUSD.

The developer has performed REAL TICK data optimizations and 99.90% real quality variable differential testing for various currency pairs. It has also used two independent Dukascopy and Alpari ECN Pro data sources.

The developer comments that it is important to use “News Scope EA PRO” only on well-known and reputable ECN brokers. If you repeatedly notice unusual spread increase, too high slide, or run delay, you should not use News Scope EA PRO on this broker.

Configuration News Scope EA PRO

  • Fixed lots – fixed trading volume (works if Automm=0).
  • Automm – values greater than 0 (zero) automatically activate ММ (volume traded as a percentage of free margin).
  • General Configuration
  • Slide – maximum slip allowed for the opening position.
  • Max spread – maximum propagation allowed for the opening position.
  • Magic number – It is extremely important to keep this different for all robots.
  • Start trail – value in pips. When trading profit is equal to this value the EA set stops.
  • Trail stop – value in pips. The final stop value.
  • EA comment – text to be added as a comment to each trade opened by News Scope EA PRO.

In short, we are talking about an EA designed to run on the coincidence of high-impact economic news. This robot will detect sudden movements in the price to try to make the most of the upward or downward paths that are produced by the impact of the news.

A very important tool if you use this EA is to know very well the economic calendar and to take into account the news of each day that may have an impact on the different financial assets.

Certainly, this is an EA of very recent creation and at the moment there are no user ratings that have tested it. The best we could do, if you are traders who like to trade with the news is to download the trial version and check its performance with some high impact news, such as NFP, oil inventories, etc.

News Scope EA PRO is available on the MQL market at a price of 117 USD (its launch price was 147 USD, it is currently being promoted). There are no rental options available.

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Forex Service Review

Bot Gap Expert Advisor Review

Bot Gap EA is a robot created in March 2020 by Russian developer Alfiya Fazylova. Alfiya Fazylova is a prolific creator of automated trading tools, many of which are available on the MQL market. Advisor Bot Gap is an automated trading robot designed to work in real-time. The advisor’s algorithm uses the well-known price recovery […]

Bot Gap EA is a robot created in March 2020 by Russian developer Alfiya Fazylova. Alfiya Fazylova is a prolific creator of automated trading tools, many of which are available on the MQL market. Advisor Bot Gap is an automated trading robot designed to work in real-time. The advisor’s algorithm uses the well-known price recovery […]

Bot Gap EA is a robot created in March 2020 by Russian developer Alfiya Fazylova. Alfiya Fazylova is a prolific creator of automated trading tools, many of which are available on the MQL market. Advisor Bot Gap is an automated trading robot designed to work in real-time. The advisor’s algorithm uses the well-known price recovery effect after the creation of the price gap.

In trade, the gap appears after the weekend, Friday through Monday. According to our evidence, this is the kind of price difference that is most appropriate for this strategy. Since the resulting window is more likely to be closed by a subsequent price variation.

Like any EA, Bot Gap has the standard benefit of queues in points. This type is not very effective in some tools, and for a more accurate selection of tp size, the robot has an adaptive benefit bar whose size fits the size of the gap.

There is also a timeout stop, to limit losses and a standard end stop, to record profits in case you fail to achieve the goal of a clean profit. At will, the feet (stop loss, rake profit, and trailing stop) can be set virtual, invisible to the broker. When switching stops to virtual mode, you should remember that this mode will not store shutdown levels on the server. The shutdown will be carried out by the retail robot itself, determining the closing time and sending a request to the server.

In addition, to protect the deposit and record profits, there are three shutdown functions. The first two functions are the closing of the total gain and the loss in the symbol. As soon as the total result of the open transactions on the instrument reaches the established value, the advisor will close all warrants. The third function is to close positions on a given day of the week. With this function, you can set the optimal time for “life” transactions, usually two days.

Bot Gap opens a fixed lot or payment order, depending on the return loss or equivalent. The advisor does not have a universal setup, and before you start with a real account, make sure to optimize the advisor’s input parameters. To increase the test speed and optimize, remember to disable the information panel (Show information panel = false).

There are few in the basic tools of the GEP, and consequently, the robot trade also opens little. But it compensates with precise inputs and trade in several instruments at the same time.

Some of the key input parameters are:

-% SL – Lot relative to the specified loss stop, the batch size is calculated such that when the sale is closed at the moose stop, its loss is equal to that given in the parameter % risk SL.

-% Capital – Lot is calculated from the percentage of shares specified in the % Risk Capital parameter.

-% SL is the percentage of loss on the deposit when closing the loss.

-% Equity Risk – the percentage of shares.

-Virtual Sl, Tp, Trailing – enables virtual stop loss, profit, and trailing stop mode.

Type Take Profit – Stop Trail Type:

  • The Gep ratio is the final stop size equal to gap, Take Profit (Gep Ratio).
  • Take Profit (Ratio of Gep) is a k gap factor to calculate the amount of profit.
  • Take Profit (Points) – the size of credits at a fixed rate.
  • Stop Loss is the size of the lap stop.
  • Final start – distance from the opening price to the start of the trawl.

Close gain (0-false) – closing all orders on the character when its common benefit is reached, in the zero function it is turned off.

Close loss (0-false) – close all orders on the symbol when your total loss of the given value is reached, to 0 the function is disabled.

Closing by the day of the week – the closing of all orders on a given day of the week.

In short, we are talking about an EA that takes advantage of the Gaps that are on the market at the opening on Monday, after the weekend. It’s a novel way to trade for a robot. Because it is a newly created tool, Bot Gap EA does not currently have reviews from users who have proven the robot’s behavior.

Remember that it is highly advisable, when working with an EA, to have a dedicated virtual server (VPS) so as not to miss the robot commands, or to leave the computer on 24/7. Also having an ECN account in a reliable broker is also very important so that transactions are executed in the shortest time possible.

We recommend downloading the free demo version in order to be able to test the robot and know how it works, as well as the prospects of profitability that it can offer us. Bot Gap EA is for sale on the MQL market at a price of 40 USD.

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Forex Service Review

Mad Desire Forex EA Review

Mad Desire EA is an automated system created in April 2020 by developer Yury Emeliyanov. The creator gives us a series of guidelines to keep in mind before we start using Mad Desire EA. The currency pairs that have given the best test results for this robot are EUR/USD, AUD/USD, and USD/CAD. This circumstance does […]

Mad Desire EA is an automated system created in April 2020 by developer Yury Emeliyanov. The creator gives us a series of guidelines to keep in mind before we start using Mad Desire EA. The currency pairs that have given the best test results for this robot are EUR/USD, AUD/USD, and USD/CAD. This circumstance does […]

Mad Desire EA is an automated system created in April 2020 by developer Yury Emeliyanov. The creator gives us a series of guidelines to keep in mind before we start using Mad Desire EA.

The currency pairs that have given the best test results for this robot are EUR/USD, AUD/USD, and USD/CAD. This circumstance does not mean that we cannot use them in other currency pairs, but it is in these that we have tested with optimal results.

Mad Desire EA should be taken as a long-term strategy, as the time frame recommended by the developer is D1. It is possible to run it in other time frames, but the results will obviously vary.

Operation of Mad Desire EA

-Opening (signal of the entrance).

-Open a new long position in Moving Average (Exponential, Open, 1, 0) when all of the following logical conditions are met:

-The bar opens below the moving average (weighted, open, 37, 0) after opening above it; and the bar opens above the moving average* (Simple, Close, 12, 0).

-Open a new short position in Moving Average (Exponential, Open, 1, 0) when all of the following logical conditions are met:

-The bar opens above the moving average (weighted, open, 37, 0) after opening below it; and the bar opens below the moving average* (Simple, Close, 12, 0).

-Closing (signal of exit)

-Close an existing long position in the Upper Band of the Donchian Canal (12, 1).

-Close an existing short position in the Donchian Canal Lower Band (12, 1).

Handling of Additional Input Signals

Input signal in the direction of the current position:

  • No averages are allowed.
  • Cancel any additional orders that are in the same direction.

Input signal in the opposite direction: No modification of the current position is allowed. Cancel any additional command that is in the opposite direction.

Size of the Operations

The trade sizes will change, depending on the percentage of your account that you want to assume in each trade.

The recommendation is as follows:

  • Opening of a new trade – 1% of the net worth of the account.
  • The strategy does not provide for a permanent limitation of losses.
  • The Take Profit is programmed to close a position at 2734 profit points.

Average rules apply only to input signals. Output signals close a position. They cannot open, add, or reduce one.

Other Features of this Robot

  • Strategy Properties
  • Handling of additional input signals.
  • Next signal behavior of the same direction – Does nothing.
  • Next behavior of the opposite direction signal – Does nothing.
  • Size of the operations

Trading a percentage of your account. Percentage values show the portion of the equity account used to cover the required margin.

  • The maximum number of open lots is 100.
  • Number of entry lots for a new trade – 1% of the account’s equity
  • Stop Loss – None.
  • Take Profit of 2734 points.

As in all Eas, it is recommended to use a VPS or virtual server, and in case of lack thereof, to leave our computer on 24/7. It is also important for the broker to provide you with an ECN account and to have low latency so that transactions can be executed as quickly as possible.

In short, we are talking about an automated system whose operation has not been made clear to us. An issue that we did not like was the absence of Stop Loss. We think that a system that does work with Take Profit should also use a Stop Loss.

The tool is newly created so there are currently no ratings by users of the MQL market. We think it wise to allow time for this tool to mature and evaluate its results according to the experiences of other users. But what we can do is download the demo version and check what the development of this robot is.

We think it’s a fairly simple system, and its price is quite affordable, 30 USD. It is also possible to rent it for 1 month for 10 USD, or for 3 months for 15 USD.

Categories
Forex Service Review

Latency Arbitrage by Ai2Fx EA Review

Latency Arbitrage by Ai2fx EA is a robot created in March 2020 by Thai developer Thara Tantitaranukul. Thara Tantitaranukul is a prolific creator of automated trading tools. Many of them are found in the MQL market. Ai2 Arbitrage Latency is used for the “Latency Arbitrage” strategy. Latency Arbitrage by Ai2fx EA is very easy to […]

Latency Arbitrage by Ai2fx EA is a robot created in March 2020 by Thai developer Thara Tantitaranukul. Thara Tantitaranukul is a prolific creator of automated trading tools. Many of them are found in the MQL market. Ai2 Arbitrage Latency is used for the “Latency Arbitrage” strategy. Latency Arbitrage by Ai2fx EA is very easy to […]

Latency Arbitrage by Ai2fx EA is a robot created in March 2020 by Thai developer Thara Tantitaranukul. Thara Tantitaranukul is a prolific creator of automated trading tools. Many of them are found in the MQL market. Ai2 Arbitrage Latency is used for the “Latency Arbitrage” strategy. Latency Arbitrage by Ai2fx EA is very easy to use and very easy to understand. Only the important configuration appears to you with the risk management module to protect your account, high-speed algorithms to win the opportunity to make a profit, and loss of smart queue stop.

EA Highlights

– Advanced coding algorithm to boost EA work faster possible to make it more cost-effective and work stability.

– Advanced Ai intelligent encoding function to check the movement between Fast and Slow MT4. EA will open operations when you have the correct address.

– Friendly price and less setting. Just fill in the important parameters.

– Intelligent end stop to reduce the loss of each order and in turn to maximize the profit in positive order.

– Easy setting parameters. Suitable for both new studio users and professional users.

– Risk management prevents loss when brokers use the plugin for you or other unexpected events.

Configuration of Parameters

Working comment = Comment will be displayed in Slow MT4 in each order follows by different prices between fast and slow runner detect. Follow with Different gap detect.

Broker Type = Select the broker type in the chart to be the fast or slow broker.

Suffix = Fill Slow or Fast Broker has a suffix in this field to correct the assignment character ex. “EUSUSD#”, fill in “#”.

Suggestions for Use

1. Aware of stopping risk by filling the Equity limit & Spread limit.
2. Stop loss is dragged by Smart Algorithm to reduce risk and will follow a positive position when your order has a benefit.
3. The Equity Limit function shall only check the Slow broker’s start equity every minute. If your port has a benefit that causes it to change equity, you must update the EA again by closing and opening the MT4 terminal.
4. Try this EA on Demo MT4 first before the real port to understand how EA works.
5. For the idea, the comparison you can see the Slow Bid-Ask lines follow the quick lines you possibly try to negotiate in small real money to estimate the result again.
6. EA tests based on the currency pair. Check again if you will use EA to trade with other instruments like CFD, Hints, etc.

In short, we are talking about an EA that uses algorithmic trading for its transactions. In fact, the creator does not explain its operation very well, so it is advisable to download the free demo version. With this, we will be able to understand the functioning of this tool better and verify if in its first transactions it can already be profitable.

As in any EA, we recommend the use of a dedicated VPS or virtual server, in order not to miss any transaction that the EA performs. If we don’t have a server, we’ll have to keep our computer on 24/7. It is also important to have an ECN account of a reliable broker with low latency so that our transactions run in the shortest time possible.

Latency Arbitrage by Ai2fx EA is for sale on the MQL market at a price of 399 USD. It is also possible to rent this tool at a price of 30 USD for 1 month, 55 USD for 3 months of use, 100 USD for 6 months of use, and 180 USD for 1 year of use.

Categories
Forex Service Review

Best Scalper MT4 EA Review

Best Scalper MT4 EA is a robot created in March 2020 by Iranian developer Mahmoudibarmas Mehdi. Mahmoudibarmas Mehdi is a prolific creator of automated trading systems, many of them available on the MQL market. Best Scalper is an Expert Scalping based Consultant, Using the best and safest EA scalp on the market. A large number […]

Best Scalper MT4 EA is a robot created in March 2020 by Iranian developer Mahmoudibarmas Mehdi. Mahmoudibarmas Mehdi is a prolific creator of automated trading systems, many of them available on the MQL market. Best Scalper is an Expert Scalping based Consultant, Using the best and safest EA scalp on the market. A large number […]

Best Scalper MT4 EA is a robot created in March 2020 by Iranian developer Mahmoudibarmas Mehdi. Mahmoudibarmas Mehdi is a prolific creator of automated trading systems, many of them available on the MQL market.

Best Scalper is an Expert Scalping based Consultant, Using the best and safest EA scalp on the market. A large number of inputs and settings are tested and optimized and embedded in the program so the inputs are limited and very simple. The use of EA does not require any professional information or knowledge of Forex Trading.

AS operates at a low margin and therefore has low risk. Best Scalper can negotiate on all symbols and all time frames, using the special and unique strategy developed by the author.

Using the EA Best Scalper on MT4

The robot is very simple and has no complicated input parameters.

These are the main parameters to be established:

-Type of operation: Long/Short/Both/No coverage

-Stop opening: if true, EA will not open a new position. Only manage already open.

-Maximum Spread to Open Position: Spread to stop trading

-Magic Number: Any constant ID.

-Show panel on chart: Displays the position report on the chart with the option to close them manually.

-Action for loss positions: One step and two steps averaging, Stop loss, Wait for tp

-Stop Loss: Stop loss in Points. Only works if the Stop loss option selected above.

-Klot: Klot is equal to Balance/Position Volume. This option is ignored if Constant selected above.

-Constant volume: Trading volume. This option is ignored if Klot selected above.

-Loss of Stop Trailing: Enable/Disable Stop Trailing.

-Final start: Final start distance in points.

-Stop Trailing: Distance from Stop Loss Trailing in Points.

-Final Step: Distance to apply Final Stop Loss in Points.

-Break Even: Enable/Disable Break Even.

-Enable Break Even after loss: Distance to apply Break Even in points.

-Entries in news filter: Blocking Trading During Low Impact News.

-All previous points entries by default is for 5-digit accounts. if your account is 4-digit use 0.1x numbers.

Optimization of the EA

Optimize EA for the last 6 months before use, and update optimization every 1-2 months. EA optimization is very quick and easy. The recommendations are for these optimization inputs:

  • Time frame: Try M5 to D1 time frames based on your strategy.
  • Action for loss positions: Averaged 1st and 2nd step.
  • Take advantage: 100 to 1000 steps 100 (10 to 100 steps 10 for 4-digit accounts)
  • Volume calculation method: Constant
  • Constant volume: 0.01 per hour
  • Maximum Spread to Open Position: 100 (10 for 4-digit accounts)
  • The display panel on the chart: false
  • Loss of Stop Trailing: false
  • Breaking the balance: false

Best Scalper Tips

It is recommended to backtest with constant volume to find greater benefit with low withdrawals. Then rerun the optimization on Klot only, to determine the best volume.

-(Klot=1000 to 200000)

-It is recommended to optimize the custom parameter.

-News Filter will not work in tester due to the limitations of MQL.

Recommendations and Conditions for Use

You can run EA in several graphics and symbols. Try using different magic number entries for each chart.

-If EA is attached to multiple cards, increase Klot to reduce risk.

-EA works in hedge accounts.

It is important to have a dedicated virtual server (VPS), in order to be able to shut down the computer and keep the robot running. It is also advisable to have an ECN account at a low latency broker so that orders are executed in the shortest time possible.

In short, we’re talking about scalping EA, like so many on the market. Despite the number of parameters that can be configured and customized, this EA promises to be very simple and suitable for all types of traders. To check it out nothing better than to download the demo version and check it for ourselves, see how it works, and the performance it can generate.

As it is a newly created tool, there are no comments from users who have already tried it out and expressed their opinions on it, so we have no external references. This EA is available on the MQL market for a price of 196 USD, and can also be rented at a price of 49 USD for a month of use, and 98 USD for 3 months of use.

Categories
Forex Service Review

Golden Dent EA Review

Golden Dent EA is a robot created in March 2020 by Russian developer Edik Melkonian. Golden Dent is an expert automated consultant who uses scalping strategies. Study the market itself, trade only a marked change in price, and there is also a great advantage that you want to trade manually. The robot is only designed […]

Golden Dent EA is a robot created in March 2020 by Russian developer Edik Melkonian. Golden Dent is an expert automated consultant who uses scalping strategies. Study the market itself, trade only a marked change in price, and there is also a great advantage that you want to trade manually. The robot is only designed […]

Golden Dent EA is a robot created in March 2020 by Russian developer Edik Melkonian. Golden Dent is an expert automated consultant who uses scalping strategies. Study the market itself, trade only a marked change in price, and there is also a great advantage that you want to trade manually.

The robot is only designed to work with gold. The Ea is consistent and produces profits on no-commission accounts and low spreads, no more than 25 broker points. The main advantage of this robot is that the expert consultant perfectly shows the track of the main players, and how they support the position, and how they move the market to the right, in this instrument (XAUUSD).

If your wish is to earn more, we have to use this excellent advantage, which also gives us the advisor. To do this, we need more time, so we don’t miss a good market entry, how can I operate additionally in manual mode? I’ll explain myself as best I can, so that even a Forex novice will be able to clearly understand how this tool works. 

1) Digital 1 – this means that the price wanted to go higher, but no, since the sellers have more power, later (blue arrows), and only (after closing the candle), we will enter the market for sale.

2) Digital 2 – this means that the price wanted to go down more, but no, since buyers have more power, then (red arrow), and only (after closing the candle), we will enter the market to buy.

3) We will put the loss of Stop in the center of the arrow and yellow mark.

4) Take advantage, can put if you want, or the opposite entrance to the market.

5) Open operations manually, only on a separate graph, where the EA is not installed, so it does not control this position!

Martingale, Averaged, and other dangerous strategies are not used. Golden Dent is in complete compliance with the FIFO method. This automated trading system is suitable for both experienced traders and beginners.

Golden Dent Expert only uses pending orders on the broker’s server, which initially reduces the level of risk through delays and slips. Each transaction has a fixed Stoploss, and each transaction follows the expiration time. Each trade contains protection against slip and spread fluctuations in the market. The system does not use risk strategies such as Grid or Martingale.

Golden Dent System operates during certain business hours, when the market is more volatile, and does not operate in a quiet market. The robot has integrated protection against slips and high broker propagation.

The trading system uses a mechanism to look for the most concentrated movement points in the market, this allows you to predict market behavior in the%market, who will wish to trade manually in the direction of the trend.

The main parameters of Golden Dent EA are:

– Risk: The risk of car lots (100)

– Fixed lot – the fixed size of a trading lot

– Max spread: Allowed spreads will not be traded if the spread is greater than this level

– Sliding: Maximum slip slip

– Start of exit stop-stop (in points)

– Stop Target loss value of stop loss.

– Take Profit – profit target.

Recommendations:

-The best financial asset to trade is Gold (XAUUSD).

-Best time frame: M30

Brokers: Any broker, but we can’t verify all of them. It must be a broker with ECN accounts or low latency to ensure that transactions are executed in the shortest time possible.

In short, we are talking about an EA that negotiates Gold in times of high volatility. It looks like a robot that is easy to handle and easy to understand, and as the author says, it can be suitable for all types of traders. This tool is newly created and for this reason, and there are no comments or criticism from users who have already tested the EA and can provide a vision of their experiences.

Remind all readers that if an EA is used, it is important to have a dedicated virtual server (VPS), to ensure that all transactions are executed regardless of whether we have the computer turned on or off, otherwise if we don’t have a server, we’ll have to leave the computer on 24/7.

Golden Dent EA is for sale on the MQL market at a price of USD 2,300, certainly an investment that is not available to anyone. It is also available for rent at a price of USD 865 for 6 months of use, and USD 1420 for 1 year of use. Our recommendation is to download the free demo version to understand the operation of this EA better and verify its profitability.

Categories
Forex Service Review

Triplo All-Pairs EA Review

Triplo EA is a robot created in March 2020 by developer Algelino Hafis Mohamed Yacine. Hafis Mohamed Yacine is a creator of automated trading systems that has several tools in the MQL market. Triple EA Works very well with all Forex currency pairs. The best time frames in backtests are M5, M15, M30, and H1. […]

Triplo EA is a robot created in March 2020 by developer Algelino Hafis Mohamed Yacine. Hafis Mohamed Yacine is a creator of automated trading systems that has several tools in the MQL market. Triple EA Works very well with all Forex currency pairs. The best time frames in backtests are M5, M15, M30, and H1. […]

Triplo EA is a robot created in March 2020 by developer Algelino Hafis Mohamed Yacine. Hafis Mohamed Yacine is a creator of automated trading systems that has several tools in the MQL market.

Triple EA Works very well with all Forex currency pairs. The best time frames in backtests are M5, M15, M30, and H1. The recommended minimum deposit to start operating with this EA is 1000 USD, using a lot size of 0.01 lots.

Triple EA would probably occur in the event that the volatility of your merchandise begins to decrease. In the case of some sort of benefit, checks are usually at the beginning of traveling sideways, that ATR benefit will probably figure out how to stop. This can trigger the delay to end up traveling excessively, as examining benefits began to be much less dangerous.

This can trigger the delay to end up traveling excessively, as examining benefits began to be much less dangerous. That ending the damage would probably start helping to change in your favor again. However, as soon as it is done with the entire ATR process, there is an additional opposition to our personal drag finishing over-traveling.

Triple EA Global Environment:

Batches = 0.1 per 10000$, Lot exponent = 1.55, Lot decimal = 2, Pip step = 500.0, Turbo = TRUE, Newcycle = TRUE, Period rsi = 1, MM = FALSE, Risk = 1.0, Profit = 100.0, Max trades tilo = 10, Max Trades = 15 = 16, Trades Max = 10.

In short, we are dealing with an EA in which the author does not give any information about the basis of its operation. From the parameters used, we can deduce that the EA is related to the RSI indicator, but we have not been able to find out more.

We always recommend that to use any EA, it is important to have a dedicated virtual server (VPS), to make sure that all transactions are executed correctly even if we have the computer turned off. If we don’t have that resource, we’ll have to leave the computer on 24/7. It is also important to have an ECN account in a reliable broker that has low commissions and spreads, and low latency so that transactions are executed in the shortest time possible. Since this tool is newly created, we have no criticism or comments from users who have already tried it and could have shared their experience with the MQL community.

Triplo EA is available for sale on the MQL market at a price of 200 USD, and it is also possible to rent it for a price of 30 USD per 1 month, 90 USD for 3 months of use, or 180 USD for 6 months of use. There is also a free demo version that is recommended to download in order to test this EA, understand its operation, and verify its profitability and if it is suitable to add it to your trading style or not.

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Forex Service Review

Level Pro Expert Advisor Review

Level Pro EA is a robot that was created in March 2020 by Russian developer Elena Sokolova. It is not the first time that Elena Sokolova has created an automated trading system, in the market MQL has some other EA available. This system has developed over the past 6 years, in which the author has […]

Level Pro EA is a robot that was created in March 2020 by Russian developer Elena Sokolova. It is not the first time that Elena Sokolova has created an automated trading system, in the market MQL has some other EA available. This system has developed over the past 6 years, in which the author has […]

Level Pro EA is a robot that was created in March 2020 by Russian developer Elena Sokolova. It is not the first time that Elena Sokolova has created an automated trading system, in the market MQL has some other EA available.

This system has developed over the past 6 years, in which the author has done an enormous amount of work and evidence. Level Pro EA trades on most currency pairs, and the best-performing time frame in backtests is M15. To select the appropriate currency pairs the user will have to try to see which one gives the best result.

Level Pro EA is a night scalper, trading in a quiet night market and in settings of very little volatility. For each currency pair, your own loss stops and make profits are set automatically. What you have to do is set up your broker’s GMT and set up the right time zone.

The maximum propagation function is integrated into each currency pair and is determined automatically. Level Pro EA adapts to current market conditions, allowing you to trade efficiently in a volatile market.

Only 10 expert consultants will be sold. Afterward, the consultant will be removed from the market for the strategy to continue working. The fewer people who use it, the longer it’ll work. We must bear in mind that in the Forex market past profitability cannot guarantee us the same future profitability.

Main settings for Level Pro EA:

  • Lot-if lot 0, then the EA will calculate the lot from the parameter of risk
  • Risk enabled if batch = 0
  • Hide sl tp – hide the loss of stop and profit from broker
  • Gmt offset-time change of your broker

In short, we are talking about a robot that bases its operation on night trading where the volatility of the markets is low, although the author tells us that she is also able to obtain good results in volatile markets.

Whenever we use these types of robots, it is advisable to use a dedicated virtual server (VPS), to ensure that the transactions made by the robot are not lost, otherwise if you do not have this tool you will have to leave your computer on 24/7.

Another important recommendation when working with Eas is the desirability of having an ECN account in a reliable broker with low latency, to ensure that our transactions are executed as quickly as possible.

Due to the fact that this tool has been on the market for a very short time, there are no opinions or criticisms from users who have already tested the EA to give us their impressions. Therefore, we recommend downloading the free demo version in order to get to know the robot’s performance better and to find out the profitability that it can provide before making a purchase decision, which in the case of this robot is a very important investment.

Level Pro EA is for sale on the MQL market at a price of 1987 USD, and there is also a one-year rental version of use at 634 USD. Remember that there are only 10 licenses for sale and once sold the robot will be withdrawn from sale.

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Forex Service Review

Scalp Trader EA Review

Scalp Trader EA is a robot created in March 2020 by Bulgarian developer Stefan Petkov. Stefan Petkov is a prolific creator of automated trading tools and has many of them on the MQL market. If you have purchased The Ultimate Trader or Multi Matrix Trader PM, also from the same creator, the author gives a […]

Scalp Trader EA is a robot created in March 2020 by Bulgarian developer Stefan Petkov. Stefan Petkov is a prolific creator of automated trading tools and has many of them on the MQL market. If you have purchased The Ultimate Trader or Multi Matrix Trader PM, also from the same creator, the author gives a […]

Scalp Trader EA is a robot created in March 2020 by Bulgarian developer Stefan Petkov. Stefan Petkov is a prolific creator of automated trading tools and has many of them on the MQL market. If you have purchased The Ultimate Trader or Multi Matrix Trader PM, also from the same creator, the author gives a free trial of this EA.

Scalp Trader EA is a scalping merchant who is currently trading with real money. The author is not relying on supporting evidence but relies on his knowledge and experience in the Forex market.

There is a live signal monitoring, where you can see that this EA has achieved 321% profitability in 4 years of operation. Please note that the Backtest has been performed on the MT5 platform due to its better ability to check different time frames and different currency pairs at the same time, however, if you want to backtest the MT4 version can activate the single pair mode.

Scalp Trader EA is a unique business interface and fully automated professional software designed to generate solid profits that exceed the average expectations of the Forex market, therefore with a very low level of reduction.

Scalp Trader is currently trading the following Forex pairs:

* CAD/CHF

* USD/JPY

* EUR/USD

* GBP/CAD

Scalp Trader EA should not be revised as a simple Expert Advisor, but as a solid and sophisticated trading interface, where various inputs and output logic are combined depending on prevailing market conditions. The software is using different time frames to select the most accurate locations for market inputs and outputs, time and price filters, various pro-technical indicators trading specially designed and developed for the needs of Scalp Trader to ensure the opening of operations on the profitable side of the market. Each transaction has placed a STOP LOSS to protect the entire investment.

The built-in options allow each customer to select for themselves that frames Scalp Trader EA to trade:

– in the short term and/or

– in the medium term and/or

– long term

To see which configurations are best adapted to the expectation of own benefits and the acceptance of risk (the meaning of risk acceptance is to select all the specific time modes that define the duration of operations).

Scalp Trader EA requirements:

* Minimum funds required: 1000 USD

VPS is a must, otherwise, you will have to leave your computer on 24/7.

* The Scalp Trader can work with any broker that transmits a low spread – STP/DMA is preferable, and also low latency to ensure that transactions are executed in the shortest time possible.

* EA is suitable with leverage as low as 1:25.

In short, we are talking about an EA that bases its operation on scalping, although the author does not give many details about the tools used by this EA. We will have to rely on the experience you have performing automated systems.

Since it is a newly created tool, no reviews or reviews are available at the moment from users who have already tested the EA. So our recommendation is to download the free demo version and in this way know how the EA works and be able to check if it can be profitable and fits our trading style or not.

Scalp Trader EA is for sale on the MQL market at a price of 4,900 USD, certainly, a price within the reach of very few traders, and no version is available for rent.

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Forex Service Review

M15 CCI Scalper EA Review

M15 CCI Scalper EA is a robot created in March 2020 by American developer Thomas Ray Gurchiek. The M15 CCI Scalper EA takes advantage of a group of Exponential Moving Averages and the Commodity Channel Index to find and negotiate within the trend. This expert advisor works very well with EUR/USD and USD/CHF, although it […]

M15 CCI Scalper EA is a robot created in March 2020 by American developer Thomas Ray Gurchiek. The M15 CCI Scalper EA takes advantage of a group of Exponential Moving Averages and the Commodity Channel Index to find and negotiate within the trend. This expert advisor works very well with EUR/USD and USD/CHF, although it […]

M15 CCI Scalper EA is a robot created in March 2020 by American developer Thomas Ray Gurchiek. The M15 CCI Scalper EA takes advantage of a group of Exponential Moving Averages and the Commodity Channel Index to find and negotiate within the trend. This expert advisor works very well with EUR/USD and USD/CHF, although it can be tested in other currency pairs, as it will surely also have optimal performance. In the backtests carried out, it has been observed that the time frame that gives the best results is the M15 graph, although it also works very well in M5.

Main features of M15 CCI Scalper EA:

– Does not use toxic and dangerous commercial methods or strategies such as Martingale or Grids.

– Every trade that performs the EA has a Stop Loss, as well as the option to put a Stop Trailing.

– The configuration is very easy and not too complex as most Expert Advisors tend to be. This makes this tool a suitable system to be used by all types of traders, including beginners.

Main parameters of M15 CCI Scalper EA:

  • Use Take Profit
  • Batches appropriate to the balance sheet
  • Possibility to use Stop Trailing
  • Each operation is accompanied by a Stop Loss

The recommended settings for M15 CCI Scalper EA are:

Time frame: M15 or M5

Most suitable symbols: EUR/USD and USD/CHF, these two are often known as inverse pairs. This algorithm works very well together, although it can work well with other currency pairs as well.

  • Take Profit: will be located at 0.0030.
  • Batches: The format of batches is 0.00
  • Final stop: 100,0 (points) or 0 without final stop.
  • Stop Loss: will be located 0.0025.

In short, we are talking about a very simple EA, which the author explains very well on the basis of which it works. Specifically the use of a group of Exponential Moving Averages and the Commodity Channel Index. If you understand how these indicators work, you will understand very well how the robot works.

Anyway, you can download the free demo version to verify the functioning of this EA and see if it can be profitable and fits your trading style.

For the use of this type of EA, it is recommended to use a dedicated virtual server (VPS) not to miss any robot transaction, otherwise, you must leave your computer on 24/7. It is also important to have an ECN account on a reliable broker with low latency so that orders are executed in the shortest time possible. Because M15 CCI Scalper EA is a newly created tool, there are no comments or criticisms of it from users who have already purchased and tested it.

M15 CCI Scalper EA is for sale on the MQL market at a price of 30 USD, not being available a version for rent as we speak of a fairly affordable EA.

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Forex Service Review

Simple Trades EA Review

Simple Trades EA is a robot created in April 2020 by developer Oluremi Oluyale, which premieres in the MQL market with the offer of this automated system. Simple Trades EA scalps with intraday price movements. Time frame: The time frame to which this EA is set is irrelevant. It takes its calculations from three different […]

Simple Trades EA is a robot created in April 2020 by developer Oluremi Oluyale, which premieres in the MQL market with the offer of this automated system. Simple Trades EA scalps with intraday price movements. Time frame: The time frame to which this EA is set is irrelevant. It takes its calculations from three different […]

Simple Trades EA is a robot created in April 2020 by developer Oluremi Oluyale, which premieres in the MQL market with the offer of this automated system. Simple Trades EA scalps with intraday price movements.

Time frame: The time frame to which this EA is set is irrelevant. It takes its calculations from three different time frames.

It can operate on any financial instrument, be it Forex, commodities, indices, or stocks.

Performance: This EA is a great tool for scalping in short and medium price directions. A position can remain open for 1-5 days.

Main parameters of Simple Trades EA:

  1. Start Hr: Time of day you want EA to start exploring the market for trading opportunities.
  2. Final hr: Time of day when you want EA to stop exploring the market for trading opportunities.

This EA can be configured to open new positions available only at certain times. To do EA trading for the whole day, set ‘Begin Hr’ to 0 and ‘End Hr’ to 23. The operations management side of the EA is not affected by this configuration.

Account type: “Standard account= true” is the default value. If we put it in false, this will mean mini = true account.

Lot size: Set lot size manually or default (0.0) for an optimized lot size. For a free margin of 1000 USD, the optimized lot size will start trading at 0.05 lots, which is 50 cents for each pip (for a standard account) if the Mm level is set by default. Optimized Lot size can be activated only if your available margin is less than 100 USD. For mini accounts, the optimized lot size will work if the free margin is not less than 20 USD. Otherwise, you have to enter your lot size manually.

Stop loss: The Stop loss is automatically calculated to be set to 10 pips + above the height of the last daily candle closed in a retail store and 10 pips below the low of the newly closed daily candle in a retail store. You can increase the default 10 pips, but it is not advisable to decrease them. For spot metals and other off-currency instruments, Stop loss must be increased considerably. i.e. for oil, Stop loss must be minimum: 20.

Take profit: Increase or decrease in take profit. EA also has a logic that closes operations when the bear/bull force is investing. Trade can close without touching the Stoploss.

Max open trades: Set the maximum number of open trades you want to allow in your account.

Mm level: This means “Money Management Level”. This option works for Optimized Lot size. The default is 200. If it increases, the optimized Lot size will decrease, but if it decreases, the optimized Lot size will increase.

In conclusion, we are talking about a scalper system that seems quite simple to operate. The creator provides some screenshots of the positive performance of this system. For example, in a simulation from 1 January 2020 to 30 March 2020, with a deposit of 1000 USD the yield was 607.79 USD, a 60.8% return in just 3 months. This performance is really good indeed.

We always recommend that to trade with an EA it is very convenient to use a VPS or virtual server, and if this tool is not available we will have to leave our computer on 24/7. It is also important to have an ECN account in a reliable broker with low latency so that our transactions run in the shortest time possible.

Because this tool has been on the market for a very short time, there are no user opinions that can tell us how your experience has been using this EA, so we recommend that you download the free demo version to check the operation of this robot and verify that the results are as good as it assures.

You can purchase this EA on the MQL market at a price of USD 500, and additionally, you have the option to rent it for a price of USD 30 for a month and USD 80 for 3 months.

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Forex Service Review

Fulgent AI for MT4 EA Review

Fulgent AI for MT4 EA is a robot created in March 2020 by the American Haskell Edward Ii Downs. Fulgent AI for MT4 EA engine is powered by a Genetic Algorithm specifically designed to find cost-effective Trade Rules in massive amounts of commercial data. By examining indicators, patterns, and events across multiple time frames as […]

Fulgent AI for MT4 EA is a robot created in March 2020 by the American Haskell Edward Ii Downs. Fulgent AI for MT4 EA engine is powered by a Genetic Algorithm specifically designed to find cost-effective Trade Rules in massive amounts of commercial data. By examining indicators, patterns, and events across multiple time frames as […]

Fulgent AI for MT4 EA is a robot created in March 2020 by the American Haskell Edward Ii Downs. Fulgent AI for MT4 EA engine is powered by a Genetic Algorithm specifically designed to find cost-effective Trade Rules in massive amounts of commercial data. By examining indicators, patterns, and events across multiple time frames as well as market relationships, the I.A. identifies cost-effective configurations of billions of possible combinations – a job that would not be possible for anyone to do. The Knowledge Base is constantly updated with the latest market data and events.

Haskell Edward Ii Downs has been applying Artificial Intelligence to the market with great success for the past 20 years. Using specific market measurements, safety graph measurements, analysis of various time frames, and cross-market correlation, Haskell Edward Ii Downs continuously finds the best possible “configurations” with unmatched accuracy and profitability. The EA is designed for specifically Autotrading.

EA Time Frame and Symbols:

This Expert Advisor is designed to be negotiated within 60 minutes at USDJPY and EURUSD. Separate genetic algorithm knowledge bases have been created for long and short operations. The average duration of trade is 5 hours. All orders, both incoming and outgoing, are market orders.

General Parameters:

  • Magic Number: Magic number for these EA strategy parameters
  • Parameters of the strategy
  • Batches: Number of batches to be traded at each signal

Parameters of Trading:

  • Use Max Spread: Enable Max Spread Filter
  • Max Spread Pips: Maximum propagation value in pips
  • Use Slippage: Enable the Max Slippage filter
  • Max Slippage: Max Slippage Value

Days of the week:

  • Entries on Sunday: Activate trade on Sundays
  • Entries on Monday: Activate trade on Monday
  • Entries on Tuesday: Trade on Tuesday
  • Entries on Wednesday: Activate trade on Wednesday
  • Entries on Thursday: Activate trading on Thursday
  • Entries on Friday: Activate trade on Friday
  • Entries on Saturday: Activate trade on Saturday

Time Settings:

  • Use Time Slot1: Enable the First Time Slot
  • Start Time Slot1: Start time for the first Time Slot
  • End Time Slot1: End Time for First Time Slot
  • Use Time Slot2: Enable the second Time Slot
  • Start Time Slot2: Start Time for Second Time Slot
  • End Time Slot2: End Time for Second Time Slot

In short, we are talking about a quite complete robot because it analyzes indicators, patterns, and events (news) for its functioning. For any EA it is important to have a VPS (dedicated virtual server) in order not to lose any transaction performed by the robot. It is also interesting to have an EN account in a reliable and low latency broker so that transactions are executed in the shortest time possible.

As a newly created tool, there are no comments from users who have tried it and can give us their opinions about its functionality and profitability. Therefore, what we recommend is to download the free demo version in order to see how the robot works and to verify if it is as profitable as the developer says. For those who want to use Fulgent AI for MT4 EA, inform that it is not for sale and is only available for rent, which costs 100 USD per month.

Categories
Forex Service Review

Lion Trader Pro EA Review

Lion Trader Pro EA is a robot created in March 2020 by Italian developer Michela Russo. Michela Russo is a very prolific developer in the creation of automated tools for trading and has many of them in the MQL market. Lion Trader Pro is a trading EA for Forex trading. This is a Trend Following […]

Lion Trader Pro EA is a robot created in March 2020 by Italian developer Michela Russo. Michela Russo is a very prolific developer in the creation of automated tools for trading and has many of them in the MQL market. Lion Trader Pro is a trading EA for Forex trading. This is a Trend Following […]

Lion Trader Pro EA is a robot created in March 2020 by Italian developer Michela Russo. Michela Russo is a very prolific developer in the creation of automated tools for trading and has many of them in the MQL market. Lion Trader Pro is a trading EA for Forex trading. This is a Trend Following system that operates mainly during the Asian and New York sessions. The EA has been subjected to several stress tests over a period of 16 years and every year has operated with a very advantageous benefit/reduction ratio.

Lion Trader Pro: Key Information

*When purchasing this Expert Advisor, you are entitled to receive a free copy of Fox Trader Pro.

*All future updates are included in the purchase price.

*Lion Trader Pro works with GBPUSD M1.

*This EA is Fifo Compliant.

It analyzes the market without using outdated indicators and patterns, looking for the primary trend, enter the market based on existing volatility, and an artificial intelligence algorithm that predicts the possible future trend. The maximum precision backtests allowed show a high rate of payment and good resistance to unexpected market events. The asset that works best in this EA is the GBPUSD, is not recommended for use in other pairs.

Recommendations:

  • GBPUSD symbol
  • Timeframe M1
  • The 2003 Test
  • Configuration Default or set files
  • Brokers: Brokers with low differential and commission
  • Minimum Deposit 2000 USD
  • Method of market entry
  • Tester Method tick by tick
  • Compliance with Fifo

https://youtu.be/XcgmaV0qyxE

Lion Trader Pro Main Settings

  • Lot: lot quantity with auto lot disabled
  • Auto lot: Activate the auto lot or disable it
  • Risk: risk for the calculation of auto lots
  • Spread Allowed: spread limit, no trading will be open
  • Activate Buy: Activate Buy Trade
  • Allow the sale: Allow the sale trade
  • A trade for a bar: only one trade for each bar
  • Order Time: Time for Ea First Order
  • Max orders: Maximum number of orders
  • Sum for coeff: Increase in coeff position
  • Minimum distance: Minimum distance for secondary positions
  • A trade bar grid: if true, the robot can open one trade as network commands.
  • Timeframe Secondary Order: Timeframe for secondary transactions.
  • Take Profit: making profits on orders
  • Modify Take Profit for the first order: Use a different take benefit for the first order
  • First-order take profit: first-order take profit
  • Close only at end of the bar: close transactions only at end of M1 bar
  • Activate Money Max Loss: Activate Money Loss Limit
  • Each micro-batch: Multiply the amount of “max loss money” x 100 x lot
  • Stop Trade When It Hits: Stop Trade When It Hits Maximum Loss
  • Maximum monetary loss: Maximum monetary loss
  • Enable News Filter: Switch to false to disable the news filter or to true to activate it.

In short, we are talking about a tendency EA, of the many that exist in the market. We recommend using a dedicated virtual server (VPS) if you are working with any EA, that will allow you not to miss any transaction that the EA wants to execute. Download the free demo version before purchasing the EA, this will let you know how it works and get an idea of the profitability you can have with it. This EA is available on the MQL market at a price of 135 USD. You can also rent it at a price of 85 USD for 1 month, or 110 USD for use for one year.

Categories
Forex Service Review

AUD/USD IM Trader EA Review

AUD/USD IM Trader EA is a robot created in March 2020 by the Greek developer Georgios Vergakis. Georgios Vergakis is a prolific creator of automated trading systems with several tools in the MQL market. This EA is fully and exclusively developed to work with the AUDUSD pair, and the tests have shown that only AUDUSD can be traded with minimal risk and minimal reduction. So the EA is optimized for AUDUSD.

AUD/USD IM Trader EA is a robot created in March 2020 by the Greek developer Georgios Vergakis. Georgios Vergakis is a prolific creator of automated trading systems with several tools in the MQL market. This EA is fully and exclusively developed to work with the AUDUSD pair, and the tests have shown that only AUDUSD can be traded with minimal risk and minimal reduction. So the EA is optimized for AUDUSD.

AUD/USD IM Trader EA is a robot created in March 2020 by the Greek developer Georgios Vergakis. Georgios Vergakis is a prolific creator of automated trading systems with several tools in the MQL market. This EA is fully and exclusively developed to work with the AUDUSD pair, and the tests have shown that only AUDUSD can be traded with minimal risk and minimal reduction. So the EA is optimized for AUDUSD.

This EA works very well during the London session only, “then trades back and 100% bad in late hours, made 400 USD more net profit (including BUY, Sell Signals, Trend Times and Side Price Action)” That would have been $1,142 on a lot. The algorithm is pretty solid and immune to false signals at the moment. If this really withstands the test of time it will develop into a very serious EA. In summary, you can really spot turning points in the market, but you need improvements in identifying clear Sell and Buy signals for all trading hours, and that’s why the developer will make future EA updates for better EA behavior.

In fact, the algorithm can’t give accurate BUY/SELL signals, but it still detects turning points very accurately, so when it works it does very well, and when it starts to fail somehow the BUY/SELL is reversed, and it’s 100% wrong. To solve this, a self-learning algorithm has been sought, the binary function is already correct, and independent of the market price trend, when the signal changes the trend will be reversed.

The goal is to optimize it further if necessary, but it is already cost-effective, keep in mind that the inverse sensitivity default is set at 1.000025, the higher the number the fewer operations will be activated, and the smaller the number the more transactions will be activated. It is usually set from 1 to 1.00004, but the test you see is for 1.00001 and in H1 time frame.

Please set the inverse sensitivity factor to 1.00001 when you try in Table H1, you can try the highest number or the default 1.000025 in smaller deadlines, this remains to be proven, but for now, the EA shows profitability in H1, in inverse sensitivity 1.00001. The stops are set to 135 pips. It is an Intermarket indicator that takes data from many European pairs and USDJPY. So don’t assume that you trade only AUDUSD, it’s just that the movement of AUDUSD depends on the patterns in all those other pairs. In fact, the EA negotiates patterns in EURCHF, USDJPY, and several other pairs. This EA may require a minimum of $2,000 in acc size, and small-batch size to start operating, and is proving to be able to recover accounts blown by other risk strategies.

In conclusion, we are talking about an EA trading at market turning points. As the developer says, although the robot is already profitable right now, it needs improvements because they have detected situations in which it does not work very well. Therefore we recommend waiting for the EA to have all the necessary updates for its optimal functioning, and only then we will evaluate the possibility of buying it.

As with any EA, it is recommended to use a dedicated virtual server or VPS, and in case of not having one, you have to have the computer turned on 24/7 to assume all transactions ordered by the robot. An ECN account of a reliable broker with low spreads and low latency is also required for transactions to be executed in the shortest time possible. Currently, as a very recent tool, there are no reviews of users who have tried the EA and can share their experiences with it. The rental price of Audusd IM Trader EA is 330 USD for one month of use, and 700 USD for 3 months of use, as it is currently not for sale to MQL market users.

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Forex Service Review

Relax EUR/USD M5 EA Review

Relax Eurusd M5 EA is a robot created in March 2020 by German developer Raphael Schwietering. Raphael Schwietering is a prolific creator of automated trading tools, and many of them are available on the MQL market. Relax is a high-class expert automated consultant who is fully optimized for the future market in the EURUSD and […]

Relax Eurusd M5 EA is a robot created in March 2020 by German developer Raphael Schwietering. Raphael Schwietering is a prolific creator of automated trading tools, and many of them are available on the MQL market. Relax is a high-class expert automated consultant who is fully optimized for the future market in the EURUSD and […]

Relax Eurusd M5 EA is a robot created in March 2020 by German developer Raphael Schwietering. Raphael Schwietering is a prolific creator of automated trading tools, and many of them are available on the MQL market. Relax is a high-class expert automated consultant who is fully optimized for the future market in the EURUSD and M5 time frames. It is specially designed for the latest market situations. It’s working with its own complex algorithm combined with some indicators to get entry and exit opportunities.

The entry and exit logic only work in Bar Close. This filters out market noise, dramatically accelerates optimizations, prevents hunting for loss of stop, and ensures proper operation in any runner with a reasonable length. The robot uses a last generation algorithm to detect entry points as well as several additional filters to enter and exit the market.

The expert was tested with high-quality historical data with exceptional results. The tests made by the developer were performed with the actual tick date with 99.90% accuracy, actual propagation, additional slip, and high commission. This tool does not use toxic or dangerous strategies, No grid, no martingale, no arbitrage, no tick pull, and no curve adjustment. 1 year 99% test quality with one lot size.

  • Backtest Method Faster with Model: Open Prices Only.
  • There is no need for optimization.
  • Optional TP /SL Basket function for daily earnings.
  • When TP or SL Basket came to stop and start the next day a new session.
  • Best optimized for real market situations.
Relax EUR/USD M5 EA Features
  • Works with 4-5 digit quoted brokers.
  • Propagation filter.
  • Equity Stop.
  • Protection of reduction.
  • Takeprofit Basket Function.
  • Stop-loss basket function.
  • Stop trading the Rest of the day TP/SL Basket Reached.
  • Quick buttons to close open commands.
  • Info panel with EA information.
  • 5 Types of Money Management.
  • Negotiating times are adjustable.
  • Advanced algorithm to get in and out of the market.

Deadline: M5 – It is not recommended to use other deadlines for this robot, as they can only compromise the accuracy of operations.

SYMBOLS: EURUSD – This robot has not been used in other currency pairs.

Recommendations:

-Before using real money, test the advisor with minimal risk on the penny trading account or demo account.

-Use VPS or server with minimal network delays on the broker server. If you do not have a server, you must keep your computer on 24/7.

–Low spreads + low commission + quality execution – this is the main thing when choosing a broker for trading, besides offering us a low latency so that the orders are executed as quickly as possible.

-Account coverage is allowed.

-Leverage recommended 1:100.

In conclusion, we are again faced with an EA of which the developer provides us with very little information, and besides, being a tool of very recent creation, we do not have user comments about its functioning and experiences with it.

We will always recommend downloading the free demo version to know how this EA works and verify that the results are as good as those shown by the creator in a screenshot. We are not available to see this EA work in an audited real account as would be desirable.
Relax Eurusd M5 EA is for sale on the MQL market at a price of 349 USD and is also available as a rental version at a price of 299 USD for use for 1 year.

Categories
Forex Service Review

North East Way EA Review

North East Way EA is a robot created in March 2020 by Russian developer Pavel Udovichenko. North East Way EA is a fully automated rollback trading system, which is especially effective in dealing “rollback” for the currency pair: AUDCAD, AUDNZD, and NZDCAD. The system takes advantage of the main patterns of the Forex market in […]

North East Way EA is a robot created in March 2020 by Russian developer Pavel Udovichenko. North East Way EA is a fully automated rollback trading system, which is especially effective in dealing “rollback” for the currency pair: AUDCAD, AUDNZD, and NZDCAD. The system takes advantage of the main patterns of the Forex market in […]

North East Way EA is a robot created in March 2020 by Russian developer Pavel Udovichenko. North East Way EA is a fully automated rollback trading system, which is especially effective in dealing “rollback” for the currency pair: AUDCAD, AUDNZD, and NZDCAD. The system takes advantage of the main patterns of the Forex market in trade – the return of price after a strong move in either direction.

EA SETUP:

You can run all pairs from a single chart using One Chart Setup (only M15 chart is recommended). The recommended minimum balance for running all pairs is 1000 USD.
This EA is NOT sensitive to propagation, slip, or any other variable related to the broker.
Use recommended pairs only.

EA TESTING:

Each pair must be tested separately. Only open prices can be utilized for testing, as the tool only uses open prices internally. When testing, use M15 only. Long-term tests are recommended to show the stability of AS during various market conditions.

Some input parameters are:

-Recommended time frame: M15

-Recommended currencies: AUDNZD, NZDCAD, AUDCAD

-One chart setup – Launch the advisor at once in several currencies of a chart. Currency pairs must be listed with “,”.

-Just a symbol? – If true, and there are open positions in the account, the advisor does not open a new series of orders in another currency.

-For the use of the car lot – Base to be used by the consultant when calculating the lot: equity or balance.

-Or use the fixed balance – Or insert a fixed amount of balance into the currency of your deposit.

-Auto mm – if > 0, the EA uses automatic money management when calculating the lot.

-Auto mm =1000 – very aggressive. Auto mm >= 5000 – conservative.

-Fixed lot if Auto mm=0 – a fixed lot for the first delivery of a series.

-Recovery Mode – If it is true, then the advisor closes a series of orders only with benefits, but at the same time the logic of the work can be violated. If it is false, then the EA works according to its logic and a number of orders can be closed to loss.

-Martin Ratio – Martingale coefficient for a series of orders.

-The first real deal of this level – The higher the value, the less often the operations, but they are better.

Recommended input parameters (balanced risk):

  • Currencies: AUDNZD, NZDCAD, and AUDCAD.
  • Just a symbol? = false.
  • For the use of Auto lot: equity.
  • Car mm = 2000.
  • Recovery mode = true mode.
  • First real deal = 3.
  • Minimum balance 1000 USD.
  • Run the EA on the same table with the M15 time frame

Recommended input parameters (aggressive high-risk trading):

  • Currencies: AUDNZD, NZDCAD, and AUDCAD.
  • Just a symbol? = true.
  • For the use of Auto lot: equity.
  • Automm = 1000.
  • Recovery mode = true mode.
  • First real deal = 3
  • Minimum balance of $1000 USD.
  • Run the EA on the same table with the M15 time frame

In short, we are talking about an EA that takes advantage of the market pullbacks after a strong price movement. The idea is good. What we regret is that the developer does not provide a link to a real account where the robot is working. On the contrary, we offer several test screenshots where it seems that the EA can generate an excellent gain.

As with all EAs, we recommend having a dedicated virtual server or VPS to ensure that all transactions are executed correctly. It is also important to have an ECN account of a reliable and low latency broker so that our orders are executed in the shortest time possible since the robot launches them.

North East Way EA is for sale on the MQL market at a price of 99 USD and is not available for rent. It is advisable to download the demo version available so that you can test the EA, see how it works, and verify that you can get the desired results.

Categories
Forex Service Review

Guard FX Expert Advisor Review

Guard Fx EA is a robot created in March 2020 by Indonesian developer Herni Widiastuti. Herni Widiastuti is a regular online trading tool creator who has already successfully developed several EAs. The concept of GUARDFX EA is that each order will be guarded by other orders until the order is secure for release. The EA […]

Guard Fx EA is a robot created in March 2020 by Indonesian developer Herni Widiastuti. Herni Widiastuti is a regular online trading tool creator who has already successfully developed several EAs. The concept of GUARDFX EA is that each order will be guarded by other orders until the order is secure for release. The EA […]

Guard Fx EA is a robot created in March 2020 by Indonesian developer Herni Widiastuti. Herni Widiastuti is a regular online trading tool creator who has already successfully developed several EAs. The concept of GUARDFX EA is that each order will be guarded by other orders until the order is secure for release. The EA uses powerful strategies and approaches robust algorithms to capture the right price movements for an entry market.

The creator of Guardfx EA will continue with future updates to try to be the best expert advisor and meet the trading objectives of its users. The negotiation objectives of this Expert Advisor is a stable benefit with uses without grid, without martingale, without arbitration and the best part is fully automatic. The EA allows you to trade a fixed lot as well as includes the money management unit for automatic batch calculation based on default risk per transaction.

Recommendations:

Use Guardfx EA in a good broker with low propagation, low stop level, and low slide. Also, low latency to ensure that orders are executed in the shortest time possible. Please use this EA in currency pairs with low spread and low stop level. Operations will be protected by loss of stop. Tight trailing is implemented. It can work with several instruments simultaneously.

Recommended pairs: EURUSD, GBPUSD, USDCAD, and USDJPY (if possible with spreads below 1 pip).

Requirements:

  • Please use this EA in the time-frame M5.
  • Use in Low Spread pairs.
  • Margin of recommendation is less than 1 pips.
  • The recommended leverage account is 1:500.

VPS hosting 24/7 is highly recommended, and in case you do not have a dedicated virtual server you will have to leave your computer on 24/7 so that all commands executed by the robot are answered.

Main Parameters of Guard Fx EA:

  • Magic number = 999 – Used to identify an order.
  • Order cmt = concorde turbo – Comments on each operation.
  • Stop loss = 10 – Stop loss size in pips. 10 is 10 pips.
  • Trailing stop = 2 – The size of the trailer stop in pips.
  • Trailing start = 3 – Start to run trailing in pips.
  • Buffer = 3 – Distance in pips for pending orders.
  • Max spread=2 – Maximum diffusion accepted for pips trading.
  • Volume threshold = 5 – Setting for Entry Trigger. The value must be greater than 0.
  • Speed factor = 2 – Setting for Entry Trigger. Value between 1 – 10.
  • Risk = 2.0 – Risk value for operations.
  • Manual lot size = 0.01 – Value of lot used if Money management is false.

In conclusion, the reality is that the developer hardly explains what the operation of this EA consists of. We don’t like that lack of information. The creator barely shows us a screenshot of the results of a test where the system seems profitable but we note that the quality of the model used for such tests is 89% when it should be 99.9% quality of the ticks.

The only thing we can recommend is to download the demo version before purchasing this EA, as its price is quite high, in this way we will see its performance and its ability to generate profits. For an EA of these characteristics, the least we can demand from the developer is a real account audited with the robot running with real money.

If you want to have this tool, it is a vein in the MQL market at a price of 1000 USD. It is also available for rent at a price of 200 USD for 1 month of use and 300 USD for 3 months of use.

Categories
Forex Service Review

Hedging Champ EA Review

Hedging Champ EA is a robot created in March 2020 by developer Sugianto. Sugianto is a developer of trading tools specialized in the subject of hedges. The foreign exchange market is very volatile, and sometimes prices go up and down thousands of pips in seconds. For this, the expert advisor of HEDGING CHAMP manages the […]

Hedging Champ EA is a robot created in March 2020 by developer Sugianto. Sugianto is a developer of trading tools specialized in the subject of hedges. The foreign exchange market is very volatile, and sometimes prices go up and down thousands of pips in seconds. For this, the expert advisor of HEDGING CHAMP manages the […]

Hedging Champ EA is a robot created in March 2020 by developer Sugianto. Sugianto is a developer of trading tools specialized in the subject of hedges. The foreign exchange market is very volatile, and sometimes prices go up and down thousands of pips in seconds. For this, the expert advisor of HEDGING CHAMP manages the movement of pairs that go up and down thousands of pips in seconds.

In the foreign exchange market, we don’t know what will happen in the future. We can predict, but the predictions don’t always match what we expect. Therefore, it is very important always to protect our trade if prices move against the direction.

How Hedging Champ’s expert advisor works:

If it looks like the price is going to rise, you can choose the open position mode: Starting with Buy, the expert advisor will immediately take a buying position. If the price appears and has not reached the target profit, the expert advisor will take another buying position until the target profit is reached.

And on the contrary, since the price analysis has touched the resistance and will move down, please select the open position mode: Start with sell. If the price turns against the management, the expert advisor will take the opposite position.

But if you don’t know if prices will rise or fall and you have no idea where prices will move, you can choose the open position mode Xbars and fill in the number of bars to be calculated to know the highs and lows to determine points of purchase and sale. If the price breaks the breaking point upwards, a buying position will open, and vice versa if it touches the breaking point downwards, a short position will open.

Traders can also use the open position mode Start with trendline and Close With Trendline. Merchants can draw a trend line buying, selling, stopping losses, and take profit according to the analysis that has been done. And also added Buy, Sell, Close Everything, Close Profit, Close Buy, and Close Sell Buttons. So merchants can place orders at the press of a button.

Trendline and Button also work in the backtester, so traders can practice trading skills and open position methods. The weakness of the expert consultant’s break is whether the market is in a lateral condition, and this is why a partial closure button is provided.

After analyzing the market situation and there is no news or events that will cause prices to move sharply, traders can activate the partial shutdown mode by pressing the partial shutdown button.

The expert advisor shall immediately calculate and open the required position and close the longest position until all operations reach a profit. When clean, press the partial close button again to return to the starting position.

The default setting can be used on almost all pairs when there is an extreme movement up and down. The suggested starting balance is 1000 USD for a pair with lots 0.01 max trade and timeframe H1, but if you want to trade XAUUSD the minimum balance is 2000 USD because the pair XAUUSD requires a greater margin to take 1 position with lots 0.01.

Suggested currency pairs to start with are: EURUSD and USDJPY

In short, we’re talking about a robot that seems to be well-designed to work optimally in markets with high volatility and sharp price movements. We always recommend that when using an EA you have available a dedicated virtual server or VPS, to ensure that we do not miss any trade done by the advisor. It is also important that we have an ECN account in a reliable broker with low latency so that the orders are executed in the shortest time possible.

This tool has been on the market for a very short time, so we do not have comments from users who have tried it and can give us their opinions. We always recommend that our readers download the free trial demo version to familiarize themselves with the operation of the tool and verify what performance can be expected from it.

Hedging Champ EA is for sale on the MQL market at a price of 299 USD. You can also rent, at a price of 50 USD for 1 month, 75 USD for 3 months, 100 USD for 6 months, and 175 USD for 1 year.

Categories
Forex Service Review

Lev Forex EA Review

Lev Ea is an automated system created in March 2020 by the Belarusian developer Ruslan Brezovskiy. Ruslan Brezovskiy is a prolific creator of trading tools, many of which you can find in the MQL market. Lev is an expert consultant who trades in fully automated trends, which can be used for both scalping and long-term […]

Lev Ea is an automated system created in March 2020 by the Belarusian developer Ruslan Brezovskiy. Ruslan Brezovskiy is a prolific creator of trading tools, many of which you can find in the MQL market. Lev is an expert consultant who trades in fully automated trends, which can be used for both scalping and long-term […]

Lev Ea is an automated system created in March 2020 by the Belarusian developer Ruslan Brezovskiy. Ruslan Brezovskiy is a prolific creator of trading tools, many of which you can find in the MQL market.

Lev is an expert consultant who trades in fully automated trends, which can be used for both scalping and long-term trading. The essence of the strategy is to open operations in the direction of the main trend in pullbacks. The basis for entering the trade are the Bollinger bands and several moving averages that determine the direction of the trend. The exit from trade occurs by Stop Loss/ Take Profit or when EA received a signal about the end of the trend. It can work in several currency pairs and time frames. Optimal settings have already been selected and come default in EA.

Features and benefits of Lev EA:

-Fully automated and requires no additional attention.

-It does not use dangerous or high-risk strategies such as the network and the martingale.

-Dissemination does not affect the consultant’s work.

-Suitable for working with any broker who provides an ECN account and has low latency to ensure that transactions are made in the shortest time possible.

-The recommended minimum deposit is only $100 USD.

-There is a function to automatically calculate the volume based on the size of the tank.

-A simple mechanism to manage risk by changing parameters to calculate the volume and multiplier of the network.

-There is a delay stop-loss function when the price moves in the direction of trade.

To maximize the potential of the advisor, you can configure it in several trading tools at the same time. For stable operation, the use of a VPS or dedicated virtual server is recommended. If this resource is not available you will need to keep your computer on 24/7 to make sure we don’t lose any trade made by EA. The default setting is for EURUSD M5 (5 digits), which is the one that has shown the best results in the tests.

Some Lev EA input parameters are:

Moving average n1 – The number of bars to calculate the fast-moving average – used to open trade.

Moving average n2 – The number of bars to calculate the slow-moving average – used to open trade.

Moving average n3 – The number of bars to calculate the fast-moving average – used to exit the trade.

Moving average 4 – The number of bars to calculate the average slow movement – used to exit the trade.

Bollinger Bands Period – The number of bars to calculate the Bollinger band indicator.

Bollinger Band Deviation – Deviation Rate, used to calculate channel boundaries.

Timeframe – Timeframe used to determine the main trend.

In short, we are talking about a robot that trades in favour of trends, based on moving stockings and Bollinger Bands. There are many EAs that rely on these same indicators so there is strong competition between them.

The developer provides several screenshots showing the profitability that is able to generate this EA. But it will be more advisable for us to download the free trial demo and see for ourselves how the robot works and the benefits it can generate.

Lev EA is for sale on the MQL market at a price of 99 USD, although there is also the possibility of renting it for 33 USD for 1 month of use.

Categories
Forex Service Review

Exp TickSniper Expert Advisor Review

Exp TickSniper EA is a robot that has been on the market for 7 years and has been updated periodically. Its creator is Vladislav Andruschenko, this developer has already created several successful advisors. Exp TickSniper is a fast tick climber that automatically selects the parameters for each currency pair separately. The EA has developed from […]

Exp TickSniper EA is a robot that has been on the market for 7 years and has been updated periodically. Its creator is Vladislav Andruschenko, this developer has already created several successful advisors. Exp TickSniper is a fast tick climber that automatically selects the parameters for each currency pair separately. The EA has developed from […]

Exp TickSniper EA is a robot that has been on the market for 7 years and has been updated periodically. Its creator is Vladislav Andruschenko, this developer has already created several successful advisors.

Exp TickSniper is a fast tick climber that automatically selects the parameters for each currency pair separately. The EA has developed from the experience gained in almost 10 years of programming and carries out short-term operations using an intelligent stop based on current currency pair data, their quotes, specification, and spread.

The averaging strategy is used to avoid losses caused by the signal detection algorithm. If an open position suffers a specific loss, then the averaged position function is activated. In extreme cases, the positions opened by Ticksniper are accompanied by a loss of stop. If the trading system cannot make a minimal profit, then the positions are closed by a loss stop one by one.

The system automatically defines the favorable stop loss and takes the gain levels as well as the distances of averaging positions, drag stop distance, etc. The EA obtains data on these parameters from a currency pair specification, current prices, and other factors that are part of our strategy. To start operating with our consultant, you need to install it on your account, then the robot will do its job.

Recommended commercial account:

Recommended AT-RISK deposit of 1,000 USD with a minimum batch of 0.01, 3 currency pairs (for example EURUSD, USDCHF, and USDJPY);

Recommended deposit AVERAGE RISK 300 USD with minimum lot 0.01 in a currency pair (e.g., EURUSD);

Recommended HIGH-RISK deposit of 100 USD with minimum lot 0.01 in 1 currency pair (e.g., EURUSD);

Broker requirements will be, ECN PRO, floating margin, and leverage 1:300 and above.

Important!

-It works on the currency pair, with the chart attached.

-The deadline doesn’t matter.

-A floating extension is recommended. A zero extension is prohibited.

-Each open position is accompanied by a loss of stop, averaging function, and an additional opening.

-The cumulative position (a series of open positions) has its final stop.

-If the position or series of positions benefits, the EA establishes a break-even point. If the price recedes, such a position is closed by the equilibrium point.

-The EA calculates the differential based on the average of the last ticks.

It seems that we are looking at a very recommendable EA, has been in the market for years and has been updated continuously, the last update was in January 2020. The creator of the robot is a very active developer in the forums of MQL, where it commercializes its EA, and always responds to all queries of its users. These users have been awarding positive appraisals of this automated system for years.

This Robot is available on the MQL market at a price of 199 USD, although you can also rent it for 35 USD per month, and try the free demo version.

Categories
Forex Service Review

Triplex Expert Advisor Review

Triplex is an auxiliary tool for manual Forex trading. This Expert Advisor has two operating modes with separate settings, the Community mode, and the Scalping mode. Read on to learn more about how this EA performs, what it costs, and what we truly feel about this service. 

Triplex is an auxiliary tool for manual Forex trading. This Expert Advisor has two operating modes with separate settings, the Community mode, and the Scalping mode. Read on to learn more about how this EA performs, what it costs, and what we truly feel about this service. 

Triplex is an auxiliary tool for manual Forex trading. This Expert Advisor has two operating modes with separate settings, the Community mode, and the Scalping mode. Read on to learn more about how this EA performs, what it costs, and what we truly feel about this service. 

The COMMUNITY Mode

When EA is in this mode, EA monitors purchase order lots and sales orders. If several orders are present, the balancing level is calculated automatically, taking into account all possible commissions. This level is identified with a dotted line in the graph (green to buy, red to sell). If there are purchase and sale orders with different lots on the market, then there will be an additional line for the break-even point, common to all orders, drawn (white by default). In this case, the values of Take Profit and Stop Loss are calculated on the basis of the sum of the equilibrium values of purchases and sales.

This mode is perfect for automation of strategies with an average, and also for pyramid and partial position blocking strategies.

The SCALPING Mode

Being in this mode, when a position is opened manually, a stop command is placed in the opposite direction at a certain distance, with the batch increase specified in the settings. During movement to the open position, the stop order is dragged with the step, specified in the settings. Once the final stop level has been reached, the order is withdrawn. Take the gain levels and stop-loss are placed for the open order at the distance of the final stop. During an unfavorable movement and the opening of a placed stop command, the next stop order is placed in the opposite direction.

The maximum allowed number of position commands is also specified in the settings. In case the order limit is reached, or in case of insufficient free margin to open the next order, a stop command is placed, accompanied by a final stop and a profit take, for the net open position. It should be noted that during the manual closing of one of the series commands, the entire position will be forcibly closed.

The TEST Mode

In test mode with the “Test mode enabled” function, the EA opens commands by a signal of the intersection of two moving averages, whose periods can be changed in the settings. This function does not work in a real market and is intended solely for familiarization with different modes of operation.

We have not found any comments or criticism of this robot, so we can not convey the opinions of the users. Although this tool was created in 2015, after 5 years, it seems that there have been hardly any activations of the robot, so it has gone very unnoticed among the MQL user community. We would not risk acquiring a robot with so much ignorance of the same, existing hundreds of alternatives much more contrasted in the market.

If you still want to purchase this tool, its price is 19 USD in the market MQL, having a free demo version.

Categories
Forex Service Review

Esparta Expert Advisor Review

The Sparta robot promises results with high profitability in a short space of time. Likewise, the installation is very fast and easy to run, and its interface is attractive and very intuitive. In stock markets, in general, it is often said that the Martingale, averaging the price, and all types of progressive monetary management, do […]

The Sparta robot promises results with high profitability in a short space of time. Likewise, the installation is very fast and easy to run, and its interface is attractive and very intuitive. In stock markets, in general, it is often said that the Martingale, averaging the price, and all types of progressive monetary management, do […]

The Sparta robot promises results with high profitability in a short space of time. Likewise, the installation is very fast and easy to run, and its interface is attractive and very intuitive.

In stock markets, in general, it is often said that the Martingale, averaging the price, and all types of progressive monetary management, do not usually work well. There are estimates that say more than 90% of the signs of success, with high returns, and long-term, use this type of monetary management. And a very similar situation occurs with accounts called PAMM.

The Sparta robot is an expert consultant that can be used with different types of currencies and that is fully automated. This robot uses a position management method called “Decreasing Waves”. This method, used by the Sparta robot, is specially developed to work with stock charts, and its operation in the Forex market is excellent. The essence of this method is to know that the price waves will not always be falling and when the price wave becomes upward the losses of the transactions made previously are eliminated. This is how this robot manages the position size.

The Esparta robot has two modes of negotiation:

Automatic: The automatic mode is ideal for use by beginner traders or inexperienced traders. It uses a single chart and is able to work with 7 currency pairs simultaneously. It also does not require any advanced settings for use.

Manual: In this mode, any type of financial asset can be used. There are unlimited options for configuring robot parameters according to our convenience, and transactions are done in a single graph. In this option, it is necessary to configure the parameters manually, so it is convenient to have prior knowledge of the trade. This mode is more suitable for more advanced traders.

The robot developers claim to be planning to expand the list of trading modes. Also for all traders who have created their own parameters for a specific group of financial assets, the creators of Sparta undertake to create an automated system with the proper configuration for its operation.

The robots created by the Sparta developers are subject to the corresponding tests in real accounts. This is the best way to check for users whether a robot is reliable or not.

To start the EA SPARTA, it is sufficient to set the expert advisor on a graph H1 for example with the EUR/USD, and using the default configuration by default. This step would be sufficient to be able to trade with all currency pairs.

The main features of the Robot EA Sparta are:

Accounts: Coverage of risks.

Currency pairs with which you can work in automatic mode: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD, USDJPY.

It works on time bars and works quite well with internet connections that are not too fast.

The robot can operate in an “open price only” mode when the strategy is being tested.

It does not use operations with small temporary spaces (Scalping, Pipsing).

Use batch augmentation in the following series offers.

We are dealing with a robot that seems to work well and with which attractive profitability can be achieved. A minimum deposit of USD 100 is required to start the activity with the Sparta robot. It is available on the MQL market and is currently priced at 305 USD. 

Categories
Forex Service Review

Virtual Killer Trade EA Review

Virtual Killer Trade is an EA created in September 2019 by Antonis Michos, a very active developer in the MQL market channels. Recently this EA has been updated, and the developer claims it is a very good tool because it guides you when opening each trade. After opening the trade, a smart system begins to […]

Virtual Killer Trade is an EA created in September 2019 by Antonis Michos, a very active developer in the MQL market channels. Recently this EA has been updated, and the developer claims it is a very good tool because it guides you when opening each trade. After opening the trade, a smart system begins to […]

Virtual Killer Trade is an EA created in September 2019 by Antonis Michos, a very active developer in the MQL market channels. Recently this EA has been updated, and the developer claims it is a very good tool because it guides you when opening each trade.

After opening the trade, a smart system begins to manage that trade and you don’t have to worry when to close it or when you should open a second or a third trade. Like any EA, you connect, you wait for the signal, you open the trade and then you can forget about trading, the robot will do it for you.

For more experienced traders, you no longer have to wait for a signal, you can open a trade manually and then let the EA work the position.

Recommendations

Trading with a one-minute time frame is the recommendation made by the creator of EA. The EA can open operations on each TF, but will manage it differently. Any currency pair can be traded by this EA. Initial capital of USD 1000 is recommended. You can start with less capital but you need experience in the markets to have a balance of less than 1000 USD in your account.

Tickets

Drawdown: By increasing it from 1 to higher the mechanism of overlapping closing positions will be activated when each open trade has more than 1 USD of loss.

Minutes period: Set the minutes of the time frame used by EA (M1).

Seqbaselots: The initial lot of the trade MANUAL (one to sell one to buy).

Initiates: The lot size that opens the EA after the trade manual, (One to sell and buy)

Multiplyonloss: The lot size multiplier that opens the EA after making a manual trade, (One to sell and buy).

Volumeupperlimit: The maximum lot size of the EA position is allowed to open. (e. g up to 0.15 lot position.

Important: You must change the “period of minutes” of input depending on the TF you want. e. g 5 for 5 min, 60 for 1H, etc.

Conclusion

In short, we are talking about an EA that seems to be producing good results, since it has only been in the market for a short time, and the ratings of its users are very positive. It also has a point in favor since, for a commercial EA, its price is not very high. The selling price on the MQL market is 120 USD, you can also rent it for 50 USD per month, and test the tool with the free trial version available.

We would have liked the developer to provide users with the operation of the EA in an audited real account, but at the moment, this information is not provided.

Categories
Forex Service Review

Xetera Multi TP Manager EA Review

Xetera Multi TP Manager EA is a robot that was created in March 2020 by developer Ghanaian Oteng Micheal. Oteng Micheal is a developer who has previously created other automated trading systems that are available on the MQL market. Xetera Multi TP Manager for FX is an Expert Advisor specially designed for Forex on the […]

Xetera Multi TP Manager EA is a robot that was created in March 2020 by developer Ghanaian Oteng Micheal. Oteng Micheal is a developer who has previously created other automated trading systems that are available on the MQL market. Xetera Multi TP Manager for FX is an Expert Advisor specially designed for Forex on the […]

Xetera Multi TP Manager EA is a robot that was created in March 2020 by developer Ghanaian Oteng Micheal. Oteng Micheal is a developer who has previously created other automated trading systems that are available on the MQL market.

Xetera Multi TP Manager for FX is an Expert Advisor specially designed for Forex on the MetaTrader 4 platform to manage operations even while you are out or asleep. Many Forex signal services use multiple socket gain levels like TP1, TP2, and TP3.

Signal services give you multiple target levels to increase your profit, but the problem is that you always need a person to monitor your operations and move the Stop Loss, behind.

Therefore, this problem has been solved by developing this EA that can help you manage your operations and secure your benefits by moving the stop loss to the right place at the right time.

Xetera Multi TP Manager Ea opens 3 positions from 1 trading (each position points to different levels of TP). Therefore, it is necessary to divide the size of your lot to 3 parts. We recommend that you use half the batch size of TP1 for TP2 and TP3. If using 0.10 for TP1, use 0.05 for TP2 and TP3.

The EA moves the Stop Loss as follows, (EA never forgets to move SL to ensure its benefit)

It’s as simple as 1-2-3:

Default settings

SL @ 50 , TP1 @ 20, TP2 @ 50, TP3 @ 100, Behind @ 5, Lot1 @ 0.10, Lot2 @ 0.05, and Lot3 @ 0.05

– If the first operation (lot 0.10) reaches the TP1, then EA moves the SL to +5 PIPS from the entry point.

– If the second operation (lot 0.05) reaches the TP2, then EA moves the SL to more than +5 PIPS of the TP1.

– Ultimately, the third target is TP3. This wonderful EA does everything for you.

All figures in levels are configurable in EA settings, making it ideal to be used for all types of currencies, metals, or indices on the MT4 platform.

Understanding the panel multi tp manager of Xetera Multi TP Manager EA:

We have created a simple panel for the Multi TP Manager where you can enter figures like SL, TP1, TP2 and TP3, Lot1, Lot2 and Lot3

  1. Buy/Sell button (For instant execution Purchase or sale by market)
  2. Switching between PIP or PRICE mode

– If you select PIP mode, you must enter the exact values provided by your signal service or provider

– If you select PIP mode, you can use the previous values or enter the values provided by your signal service or provider. Note that in PIP mode, TP and SL levels will be calculated from the market execution price.

  1. Stop the loss

– Set Stop Loss by Price or Pips by Active Mode

  1. Size of batch

– Put in your batch sizes in each box, Lot1, Lot2 and Lot3 (eg. Lot1 = 0.10, Lot2 = 0.05, Lot3 = 0.05)

  1. To obtain benefits

– Put in your TP levels. You have up to 3 levels

In short, we are talking about an EA that works position based on dynamic TP and SL levels. We always recommend that using an EA you have a dedicated virtual server (VPS), to ensure that the transactions that the EA performs are replicated on our computer, even if it is turned off. If we do not have this tool we will have to leave the computer on 24/7.

Another tip is to have an ECN account at a trusted broker that has low latency so that our transactions run as fast as possible, as well as for the broker to collect low spreads and commissions. Because this tool has been on the market for a very short time, we lack user opinions that can tell us what experience they have had using EA.

Xetera Multi TP Manager EA is for sale, available on the MQL market, at a price of 280 USD, is also available for rent at a price of 30 USD for 1 month, 60 USD for 3 months, and 180 USD for 1 year of use. A free demo version is also available and we recommend that you download it in order to test the EA and get to know better its performance and its profitability potential.

Categories
Forex Signals

Are Free Forex Signals Really Reliable?

A trading signal is a short message that you might receive via email, text message, alert notification, tweet, or other communication methods. The message contains information about making a trade and is meant to aid traders and might mention a specific time and price to enter a trade on a currency pair. 

A trading signal is a short message that you might receive via email, text message, alert notification, tweet, or other communication methods. The message contains information about making a trade and is meant to aid traders and might mention a specific time and price to enter a trade on a currency pair. 

A trading signal is a short message that you might receive via email, text message, alert notification, tweet, or other communication methods. The message contains information about making a trade and is meant to aid traders and might mention a specific time and price to enter a trade on a currency pair. 

“Free forex signals” is one of the most Googled questions by forex traders. The main reason for the signal’s popularity is that it can save you time, which is especially useful for traders with full-time jobs or other responsibilities that take away from the time they can dedicate to trading. Beginners can benefit as well, as finding a good signal provider can be a lifesaver if one is having a hard time making profitable trading decisions. 

You’re probably wondering how much it costs to use these forex signals or if they even work at all. The truth is that there are some paid signals out there, but many providers will allow you to use their signals for free. This might seem a little off – after all, we’ve all heard the saying that “nothing is ever free”. Fortunately, there are other forex traders out there that want to help you. Many traders that have achieved success like to help other traders by passing on advice, creating trading signals, writing books that contain knowledge they’ve learned, sharing secrets they’ve uncovered, and so on. In some cases, you’ll be able to use the services indefinitely for free. In other cases, you might be able to use the service for free through a free trial before being asked to pay. 

When it comes to reliability, you do want to choose your signal provider wisely. Know that free signal providers usually offer some of these features:

  • The entry/exit/stop loss figures for one or more currency pairs.
  • Graphs or other evidence that supports the provided signals.
  • Trading history that might include profits and losses per month, risk/reward ratios, and so on.
  • The ability to speak to or be coached by the provider upon request.

Once a signal has been generated, it is the trader’s decision to choose whether to take the advice or to avoid it. If you receive a signal that doesn’t seem like a good idea, simply ignoring it is the safer option. Online reviews of free forex signals are mixed, but this isn’t surprising. Some traders have had good luck using these services, while others have lost a lot of money. 

If you want to receive reliable signals, you can’t go with the first service provider you find, especially if those services are entirely free. Fortunately, it’s easy to research a potential signal provider online. Check out social media and online reviews for a more realistic look at what you should expect. Never rely solely on reviews or testimony that is listed on the provider’s website, as the very best comments are usually displayed, or you might even be reading something that was written by the provider themselves. This is why second-party review sites and social media reviews give the most honest results. 

Free forex signals can be reliable, as long as you do your research before choosing a signal provider. If you receive an alert with information about a trade that you don’t think you should take, you can simply ignore that signal and wait for the next one. If you choose a provider that provides a few bad signals in a row, it’s best to move on to a different provider with better reviews online to try for better results. Choosing a signal provider is very much like choosing a broker – there are scammers out there, but careful consideration and research can help ensure that you make a trustworthy choice.

Categories
Forex Service Review

KeltnerPRO Automated Trading Robot Review

KeltnerPRO is a fully automated trading robot that operates based on ideas published in the “How to Make Money in Commodities” book, which was published by Chester Keltner. It works with the MT4 platform.  Strategy The KeltnerPRO system is based on the popular Keltner Channels tool, which identifies reversals with channel breakouts and direction and/or […]

KeltnerPRO is a fully automated trading robot that operates based on ideas published in the “How to Make Money in Commodities” book, which was published by Chester Keltner. It works with the MT4 platform.  Strategy The KeltnerPRO system is based on the popular Keltner Channels tool, which identifies reversals with channel breakouts and direction and/or […]

KeltnerPRO is a fully automated trading robot that operates based on ideas published in the “How to Make Money in Commodities” book, which was published by Chester Keltner. It works with the MT4 platform. 

Strategy

The KeltnerPRO system is based on the popular Keltner Channels tool, which identifies reversals with channel breakouts and direction and/or identifying overbought or oversold levels in the market. The robot is fully automatic and uses a dynamic stop loss and take profit that can change in different situations. Typically, the stop loss is half of the take profit level, meaning that each win should be larger than any loss. On average, the robot makes about one trade per day for a grand total of about 30 trades per month, although the system could make several trades in a day depending on conditions. It works with the currency pairs EURUSD, GBPUSD, AUDUSD, NZDUSD, and USDCHF. 

Service Cost

The system costs $499 and can run on any account size with a $200 minimum account balance recommendation. VPS is recommended, but not mandatory. This product comes with a 60-day money-back guarantee, updates for life, a 1-year profit warranty, and 24/7 support. 

Conclusion

KeltnerPRO is based on popular ideas and has proven good results during testing for several different users. While the price is rather high and might be too much for some traders, the developer does seem to stand by his product by offering the 60-day money-back guarantee and the 1-year profit warranty. While several users have claimed that the product worked for them, a few people did claim that the developer isn’t as prone to giving out refunds as he claims even during the 60-day period. We would recommend testing this product first before paying the steep price tag or arguing over a refund. You also might want to consider making a larger deposit than the $200 recommendation so that the system can make enough profits to pay for itself in a shorter amount of time.

Categories
Forex Indicators

Backtesting Indicators of a Swing Trading System Guide

Most traders already know that designing an algorithm to trade in the forex market is an essential step. We also know that any such algorithm is generally based on several indicators, with ATR, the confirmation indicator, and the exit indicator altogether partly making the algorithm’s skeleton we will disclose fully as we progress. What some […]

Most traders already know that designing an algorithm to trade in the forex market is an essential step. We also know that any such algorithm is generally based on several indicators, with ATR, the confirmation indicator, and the exit indicator altogether partly making the algorithm’s skeleton we will disclose fully as we progress. What some […]

Most traders already know that designing an algorithm to trade in the forex market is an essential step. We also know that any such algorithm is generally based on several indicators, with ATR, the confirmation indicator, and the exit indicator altogether partly making the algorithm’s skeleton we will disclose fully as we progress. What some traders are curious about, however, is the way to backtest these indicators in order for them to assess their performance. If you come across an interesting indicator that you want to give a chance and see whether it works, it is only natural that you would want to apply it in your charts and see if it rendered any success in the past. If you have already had the opportunity to do some research on the indicators that forex traders use, you probably know which ones are the most popular. However, do not give in to the popularity of some outdated tools, such as Stochastics, Japanese Candlesticks, or RSI, because you may certainly have more luck with some of the more modern indicators designed specifically to trade in the forex market.

While some sources insist that there is no such thing as a bad indicator, you may need to ask yourself what your ultimate goal is because one indicator cannot possibly serve all trading needs. On top of that, the market of trading currencies, which have no intrinsic value themselves, cannot possibly be the same as the trading stocks, commodities, or other equities that, unlike fiat currencies, actually have real values. Therefore, even the way we perceive trading can affect our choice of indicators. Nonetheless, even if you are certain that an indicator would perform well, there is no one single reason why you should not test it and compare it, if possible, to some other tools you have used for the same purpose.

What is more, as it turns out, you may find out that some indicators, such as Heiken Ashi, are generally used for entering trades, while some professional traders warn people about its shortcomings and suggest that they use it as an exit indicator and as a tool to test other exit indicators instead. Furthermore, the previously mentioned indicator is a perfect example of tools that do not let traders adjust any settings, which may be a much-needed option for many trades. Another almost equally important topic besides indicators is planning due to the fact that the right strategy and an overall plan on how to enter and exit a trade, including your risk and win limits, will inevitably have an impact on the quality of your trading. In addition, knowing how to scale out is another precondition for trading successfully, which will determine the level of safety and possibly stabilize the situation should your finances ever be at risk because of some unforeseen events.

Professional traders around the globe know that indicators alone cannot be fully functional and bring us all the profit we desire unless we put effort into learning. Therefore, in the process of looking for a good indicator, you must first be aware of the nature of the market you trade, understand its needs, and see what your own needs are. Testing at this point can be not only better because you have a vast array of information at your disposal, but it can also lead to some truly amazing discoveries such as where you can use and how you should never use a specific indicator. Consequently, testing, along with demo trading, should be a precondition to using any tool in real trading, which is why we intend to discuss the tools which can help you backtest and enter any trade with peace of mind. In today’s example, we will go through the steps of how you can backtest a confirmation indicator, which should serve as an overall useful guide and the path to discovering backtesting indicators in general.

How should we then commence this process? Firstly, after finding a confirmation indicator which you are willing to test for yourself, you should choose a specific currency pair for testing the indicator of choice, open your daily chart, and turn this indicator on in the chart. You will be using the default settings at first and, interestingly enough, these default settings often prove to be the best choice after all. By using the default settings, you also give yourself more room to compare later on with some other values after some adjustments. This is the best way to begin this process and what you will also do here is put the ATR indicator in the MT4 platform right below the confirmation indicator in question.

At this point, you will probably need to go at least 6—12 months back in time, although you can always decide to go even further in the past to get even more signals. Some professional traders choose to go back as far as two to three years because a longer time span provides them with a bigger sample size and a clearer idea of how this tool can work out long term. Going too far back, however, is not something experts would recommend just because of the vast number of market changes that have such a profound impact on trading and also because the odds of some market conditions occurring once again are quite low.

Your next question will likely be related to the number of entry signals your confirmation indicator can give you because you really need to find out what a win and what a loss was before. ATR will come in handy here since you will compare it with the number of pips you could have made with your indicator of choice. If the ATR for the USD/JPY currency pair was 80 at the time of entry, you will want to discover if your new indicator made 80 pips before losing 120 pips, because the system we are using sets out first take profit level at 1xATR value (you may want to experiment with different values but this value proves to be the best on the daily time frame according to our tests).

Naturally, if the answer is yes, then it is a winning choice and vice versa. It is of utmost importance to record this information in a clear way so that you can always go back to it and use it for future analyses (e.g. spreadsheet as suggested in the table below). As you will go backward, you will want to document every time you get the same results like these, so for your specific time frame, you can obtain very comprehensive win-loss ratio information, which can help you get a winning percentage on which you can base your decision whether you will use that particular indicator or not. Generally speaking, there are a few other questions you will need to answer before you start: what is the number of currency pairs you will be testing with this indicator, will you be changing the settings, how many times will you tweak the settings, and how far back in time will you be going?

The only rule you should be following is to maintain separate sheets or tabs for different currency pairs. The table below should successfully exemplify how you can keep the necessary data and, to calculate the percentage of wins, you can either divide the wins by the total number of trades yourself or set up a function to do it for you. For example, if the Win % is located in the E column, you may create and duplicate the following equation for all indicators you wish to test: C1/(C1+D1)=E1. The reason why we store this information so meticulously lies in the fact that you will need to go through the same process again for other indicators at least and use the data you collected to rank all of the tested indicators based on how well they did. The two to three indicators with the highest win percentage are actually the ones on which you will be focusing from that point. Although we lack the information regarding what happened with the trade afterward and we do not have any news events involved as well as other relevant data we would otherwise be using in a real-life situation, it will suffice for the time being.

Even though backtesting in this simple manner may seem devoid of some important circumstantial data, it can still help you distinguish between winning indicators and the losing ones as well as pinpoint some vitally important information you will definitely need for your day-to-day trading in this market. Simply put, if you are already witnessing the scenario where any indicator is showing poor performance at this point, imagine how poorly it will perform once you have all facts at your disposal and decide to actually invest real money.

On the other hand, if you come across an indicator which offers a greater number of wins as opposed to losses, you can assume that it may be possible to include this tool in your algorithm in the future. What you will do here is wait on it, but you will also need to and want to know which ones are worthy of hanging on to. Once you have figured this part out, you can freely use it in trading, of course initially in your demo account. Testing out whether an indicator is legitimately good will not require an unreasonable amount of time, especially if you take recording data seriously. In the greatest number of cases, the few winning indicators that you select will outperform the losing wins by far. Now, depending on the type of indicator you are looking for, you may need to consider some other pieces of information.

For example, if you are looking for a confirmation indicator, you know that it should be able to signal favorable market conditions as well as tell you when the market is not ready for any action. Unfortunately, we could not have the same process for testing exit indicators since we would need to include trailing stops that are used to compare with your exit indicator of choice. Nonetheless, no matter how crude backtesting may seem to be, the data you gather should be relevant enough for you to know what your next step should be. To sum up, you will start from today firstly go back to a specific time in the past until the moment you see your indicator telling you to buy or sell.

Secondly, you will check for the ATR at that exact point in time when you discovered the buy/sell signal. And, thirdly, attempt to discover what happened first – the price hitting the ATR value (take profit) or the value of 1.5xATR in the opposite direction (stop loss level we use in our algorithm example). Keep repeating the same process for every indicator and every setting each time the indicator gives you any signal until the time you decide to stop recording data. If you have found a really good indicator, you can use it until a better tool comes along. Whatever you do, keep searching because this market, as well as the tools used for the purpose of trading currencies, is unbelievably prone to change and you may want to be equipped with the best and most modern tools you can get.

Maintain the level of curiosity which is necessary for this line of business and keep your records neat and tidy because you will inevitably direct your finances according to what you discover while backtesting. Finally, although this backtesting method is imperfect at this moment, its power lies in its ability to tell you which the winning and the losing indicators are, saving your time and quite possibly your finances. Together with your comprehensive knowledge of the different types of indicators, the forex market, and your personal goals, this approach to backtesting will surely lead to success and these are the skills you will always be able to use to your advantage regardless of the outside factors.

Categories
Forex Service Review

REV Trader Pro FX Trading System Review

REV Trader Pro is an automated trading robot that was created by money manager and trading system developer Doug Price. The product works with the MetaTrader 4 trading platform. Overview REV Trader Pro is an automated system that uses trend reversal technology while avoiding false trading signals. It detects potential market reversals with high accuracy, […]

REV Trader Pro is an automated trading robot that was created by money manager and trading system developer Doug Price. The product works with the MetaTrader 4 trading platform. Overview REV Trader Pro is an automated system that uses trend reversal technology while avoiding false trading signals. It detects potential market reversals with high accuracy, […]

REV Trader Pro is an automated trading robot that was created by money manager and trading system developer Doug Price. The product works with the MetaTrader 4 trading platform.

Overview

REV Trader Pro is an automated system that uses trend reversal technology while avoiding false trading signals. It detects potential market reversals with high accuracy, according to the developer. Loss-prevention settings reduce losses from broker commission, spread, and slippage. The bot comes with default settings that have been adjusted to offer superior performance, although traders can change several settings if they prefer to. Traders can also set a certain percentage for the risk factor they would like to take on each trade. The system works with any type of broker (STP, NDD, etc.) on the H1 timeframe with the major pairs AUDUSD, GBPUSD, EURUSD, and NZDUSD. Alert popups and email notifications can be enabled for important updates as well.

Service Cost

This trading system was previously offered to wealthy clients and has supposedly experienced a price drop. Unfortunately, the developer does not list the exact price on the website, however, online reviews mention that traders have paid around $650 to $750 for the system. This does come with a lifetime license, a 60-day money-back guarantee, free updates and strategy improvements, and 24-hour access to Skype and/or email support with the developer.

Conclusion

Rev Trader Pro is marketed in the $650+ range, meaning that the software is only acquirable for traders that have a good amount to invest. Of course, traders will need to know that the product will turn a profit and eventually pay for itself. The website claims that the software is used by wealthy clients with more than $10 million dollars, but it is important to look at user reviews as well. Here is one helpful review we found online:

“Doug helped me with all the questions I had on this robot within 24 hours, so I consider his customer service as excellent. When I told him the REV trader PRO was not made for me, he refunded my money without any delay and hassle.”

While this review was written by an individual that speaks about the developer’s positive customer service, most of the product information is posted on other review websites. REV Trader Pro has earned a rating of around 3 to 4 stars in general– however, many have recommended avoiding the product because of the $700 price tag and “horrible” performance. With everything in mind, we would recommend trying out the free trial before making the purchase. Do keep in mind that there are some helpful risk management settings, but traders should purchase this EA with caution. Otherwise, you’ll lose a steep amount with this iffy investment.

REV Trader Pro can be found at the following web address: https://www.revtraderpro.com

Categories
Forex Service Review

RoFX Forex Trading Robot Review

RoFX was created by a team of software developers and traders in 2009 before being made available to the public one year later. The system is fully automated and seems to be targeted towards beginners without much experience, along with more advanced traders that don’t have the time to trade consistently. Overview RoFX was created […]

RoFX was created by a team of software developers and traders in 2009 before being made available to the public one year later. The system is fully automated and seems to be targeted towards beginners without much experience, along with more advanced traders that don’t have the time to trade consistently. Overview RoFX was created […]

RoFX was created by a team of software developers and traders in 2009 before being made available to the public one year later. The system is fully automated and seems to be targeted towards beginners without much experience, along with more advanced traders that don’t have the time to trade consistently.

Overview

RoFX was created to place trades automatically on one’s account, which makes it a good choice for any investor that is just starting out. The website points out that experience is not needed to use this system and that human emotions won’t negatively affect trades, which makes the robot more efficient than a human trader. Of course, these points could be made for any other fully automatic trading software. Here are a few of the system’s features:

  • Ability to see your account transactions from the “history menu”, including your profit and any performance fees that have been applied
  • Account statistics and analysis is offered
  • Works with the MetaTrader 4 platform
  • Losing trades are protected by AutoTrader and each trade uses a stop loss
  • Does not use leverage; only trades with your actual funds and those of the company
  • 24/7 customer support

Developers don’t spend a lot of time explaining how the robot trades or what contributes to its decisions, however, traders are given control with the “history menu” where they can review all of their trading results. Still, it would be nice to know more about the algorithms that are being used.

Service Cost

Traders can choose from several different packages, each of which requires a different deposit minimum, trade for a different amount of time, offer a different share in the profit, and charge a different performance fee. Here are a handful of options from the website:

The TRIAL package requires a $1K – $5K deposit, trades for 30 days, provides a 40% share in your trading profits, and charges a 60% performance fee.

The MONEYMAKER package requires a $10K – $50K deposit, trades for 270 days, provides a 65% share in your trading profits and charges a 35% performance fee.

The VIP package requires a $100K+ deposit, trades for 270 days, provides an 85% share in your trading profits, and charges a 15% performance fee.

A few other packages are available, including advanced compound and no lock versions. According to the website, the developers of RoFX actually guarantee coverage of any losses that are incurred on behalf of the robot thanks to their “reserve fund”. Also, note that withdrawals are free, and traders are compensated for any charges that do apply.

Conclusion

RoFX was created to provide an automated trading solution to common trading problems, such as lack of experience and the downfalls of human emotions when it comes to trading decisions. The system uses a stop loss feature on every trade, along with promising to cover any losses through a special fund that has been set aside. There are several different packages to choose from, which can honestly become a little confusing if you aren’t used to dealing with this sort of thing.

On the bright side, the robot takes its profit from a predetermined percentage of your trading profits, rather than requiring a large fee upfront. You can even purchase the TRIAL package to test it out for 30 days if you’re on the fence about making a larger purchase. We were a little disappointed that developers didn’t spend more time talking about this robot’s strategy, however, user reviews seem to point to this being a legitimate system that is profitable, so it is seemingly worth investing in, even if you decide to start with a smaller package.

RoFX can be found at the following web address: https://rofx.net

Categories
Forex Indicators

The 5 Best Forex Indicators

Forex indicators use mathematical calculations to measure things like volume, exchange rates, open interest, etc. about a currency pair to let traders know if they should enter or exit a trade. There are a lot of different indicators out there, such as Bollinger Bands, Stochastic oscillator, Relative Strength Index (RSI), and many more. Most people […]

Forex indicators use mathematical calculations to measure things like volume, exchange rates, open interest, etc. about a currency pair to let traders know if they should enter or exit a trade. There are a lot of different indicators out there, such as Bollinger Bands, Stochastic oscillator, Relative Strength Index (RSI), and many more. Most people […]

Forex indicators use mathematical calculations to measure things like volume, exchange rates, open interest, etc. about a currency pair to let traders know if they should enter or exit a trade. There are a lot of different indicators out there, such as Bollinger Bands, Stochastic oscillator, Relative Strength Index (RSI), and many more. Most people use indicators to help make more confident trading decisions without as much guesswork.

Those with programming skills can create their own software to run on the MetaTrader 4 or 5 platforms, which can make your life as a trader much easier. Of course, those that aren’t interested in developing their own software can rent or purchase indicators for a low price in most cases. If you’re looking at indicators, you’ll want to choose one that is suited for your personal trading strategy. In our opinion, the most useful indicators work with many different strategies while offering clear signals and helpful information. Below, we will go into detail about the five best indicators that are available.

Moving Averages

Moving averages gauge momentum and define areas of support & resistance in the market. These indicators are primarily used to give one an idea of the underlying direction or trend of the market. Traders can also use one or more moving averages for trading signals, for example, the point where a shorter moving average crosses above or below a longer moving average.

There are five main types of moving averages:

  • Simple moving average (SMA)
  • Exponential moving average (EMA)
  • Weighted moving average (WMA)
  • Smoothed moving average
  • Hull Moving Average (HMA)

Moving average is a lagging indicator, meaning that it reacts to events that have already happened, rather than predicting future events. The indicator focuses more on confirmation and analysis.

Relative Strength Index (RSI)

The RSI has been a favorite trading indicator for many traders since it was created by analyst J. Welles Wilder in 1978. It is a momentum-based indicator that compares the amount of a currency pair’s most recent exchange rate increases against its most recent exchange rate drops. This helps it to identify overbought or oversold conditions in the market.

The RSI is displayed as a line on a graph that moves between two extremes with a reading from 0 to 100. Traders usually interpret a reading above 70 as an indication that a security is being overbought, which will likely result in a trend reversal or corrective pullback in price. A reading of 30 or below would, therefore, indicate oversold or undervalued conditions in the market.

Bollinger Bands

John Bollinger developed the Bollinger Bands technique in the 1980s. The indicator uses a moving average with two trading bands above or below it to add and subtract a standard deviation calculation. Bollinger Bands measures volatility so that it can adjust to market conditions and provide all needed price data between the two bands.

On a chart, you’ll see a centerline, which is an exponential moving average, with two price channels (or bands) above and below it. The two price channels are the standard deviations of the asset that is being looked at. Volatile price action causes the bands to expand, or contract when the price is bound into a tight trading pattern. Looking at examples online can help one to recognize these patterns.

Moving Average Convergence Divergence (MACD)

The MACD indicator is a trend-following, momentum-based indicator that shows the relationship between the two moving averages for an instrument’s price.
The indicator comes up with its calculation by subtracting the 26 period EMA (Exponential Moving Average) from the 12 period EMA, resulting in the MACD line. It also includes a smoothed moving average (SMA) line of 9 periods to signal trades.

The Stochastic Oscillator

A Stochastic oscillator is a momentum-based indicator that compares the closing price of a security against the range of prices it experienced over a specific time period. The primary use of this indicator is identifying overbought or oversold conditions and providing trading signals.
The indicator provides traders with a number that ranges from 0 to 100. Readings over 80 are considered to fall in the overbought range, while readings of 20 or less are considered undersold. Of course, the exact line where one would consider conditions overbought or oversold can fall to personal interpretation. The indicator consists of two lines. One reflects the value of the oscillator for the session, the other reflects its simple three-day SMA.

Conclusion

Throughout this article, we have identified some of the best indicators that one can have at their disposal: moving averages, relative strength index (RSI), Bollinger Bands, moving average convergence divergence (MACD), and the stochastic oscillator. Several of these options are momentum-based and they can help to identify trends and overbought or oversold conditions, or to provide helpful trading signals. If you plan on using any of the indicators we have outlined above, be sure to check out some visual examples online first. On the contrary, if you’d prefer to trade without the use of any indicators, then you should consider naked trading.

Categories
Forex Service Review

Sniper Suite EA Review

Sniper Suite is an Expert Advisor that trades for its clients automatically, promising to be 100% stable and profitable since testing began back in 2001. Versions V1.5 and Ultimate Version X were recently released in June of 2020. Overview Like many other Expert Advisors, Sniper Suite was created to bring in profits for its users […]

Sniper Suite is an Expert Advisor that trades for its clients automatically, promising to be 100% stable and profitable since testing began back in 2001. Versions V1.5 and Ultimate Version X were recently released in June of 2020. Overview Like many other Expert Advisors, Sniper Suite was created to bring in profits for its users […]

Sniper Suite is an Expert Advisor that trades for its clients automatically, promising to be 100% stable and profitable since testing began back in 2001. Versions V1.5 and Ultimate Version X were recently released in June of 2020.

Overview

Like many other Expert Advisors, Sniper Suite was created to bring in profits for its users without requiring any effort from their side, aside from downloading and purchasing the software. This robot uses advanced price action and ATR indicators to make informed trading decisions while implementing a stop loss and cut-switch system to help cover any losses. Here are some of its most notable features:

  • Works on the MetaTrader 4 and 5 platforms with any type of trading account
  • Uses a stop loss on every trade
  • Cut-switch system covers any losses that are incurred
  • Developers recommend using the system on 3-5 pairs per account
  • Works with all currency pairs and timeframes

In addition to being versatile, the robot seems to be a good choice for beginners that might not be able to earn the same amount of profits as more experienced investors; however, the system’s price is a bit high, making it more difficult for beginners to purchase.

Service Cost

Sniper Suite offers three separate packages to choose from:

Basic Plan: Basic EA system, works with 1 live account and 1 demo account for $1,599
Ultimate Plan: Ultimate EA system, works with 1 live account and 1 demo account for $5,525

Combo Plan: Basic & Ultimate EA system, 5 live account licenses and works with unlimited demo accounts for $7,000

The recommended minimum deposit is at least $1,000 on a regular trading account.

Conclusion

Sniper Suite is a versatile product because it works with both MT4 and MT5, where many other EAs only support the earlier MT4 version. It also works with all currency pairs and timeframes and can be used with any type of trading account. Certain features also help to cover losses, including the cut-switch feature and the fact that a stop loss is used on every trade. While everything looks good so far, the cost of this EA system is likely to be a dealbreaker for many traders. With $1,599 being the cost for the Basic version with just one live and demo license, it’s safe to say this the system is very pricey. Our best advice is only to purchase this system if you can make a large investment so that the robot will be able to earn back your profits more quickly, as it does cost right at $8K for the Combo plan.

Categories
Forex Service Review

Vader Forex Robot Review

The Vader Forex Robot was brought to us by the same team that created the Odin trading bot. This automatic system offers several features that support truly hands-off trading with a 100% advertised profit rate. Overview Vader is an automated forex robot that combines Fibonacci sequencing with grid trading. Fibonacci levels are typically used to […]

The Vader Forex Robot was brought to us by the same team that created the Odin trading bot. This automatic system offers several features that support truly hands-off trading with a 100% advertised profit rate. Overview Vader is an automated forex robot that combines Fibonacci sequencing with grid trading. Fibonacci levels are typically used to […]

The Vader Forex Robot was brought to us by the same team that created the Odin trading bot. This automatic system offers several features that support truly hands-off trading with a 100% advertised profit rate.

Overview

Vader is an automated forex robot that combines Fibonacci sequencing with grid trading. Fibonacci levels are typically used to find levels of price support and resistance on forex charts; however, Vader turns these into unique entry and exit thresholds. The program also claims to keep brokers that are trading against you in the dark by hiding its TP and SL levels internally to avoid stop hunts. Here are a few more features that come with the system:

  • Easy installation
  • Designed to run unattended; fully equipped to handle every aspect of trading
  • Overbought/oversold reentries
  • Used by more than 1,000 traders on a daily basis
  • Works with more than 20 pairs
  • Easy drag and drop installation
  • Uses automatic stop loss and take profit levels based on a unique algorithm
  • Supports mini, micro, and full lots and automatically calculates the best size to use based on the account’s equity

Service Cost

When we checked out Vader Forex Robot’s website, a countdown timer informed us that the “lowest price ever” for the product was being offered for the next 17 hours. This is likely a marketing ploy to make traders hurry up and buy the robot, but there’s good news. The initial price seems to be $199, but the markdown price is only $99, so you shouldn’t have to pay more than $200 for this system depending on any special discounts. Do note that a $5,000 deposit is required for your trading account.

Conclusion

The Vader Forex Robot offers a unique, hands-off experience that can benefit entry-level traders, alongside more professional traders that just don’t have the time to sit in front of their computer analyzing charts and trading continuously. We see some interesting features built-into this program, like internally hidden TP and SL levels, a unique algorithm for calculating TP and SL levels, automatic calculation of the best lot size to use, and so on. The initial price of the robot is fairly low for this type of product, especially considering that it can run fully unattended, but you will need a $5K minimum deposit for the robot to work. Otherwise, this is a great system for beginners that seems to back up some of its claims of being profitable and convenient.

Categories
Forex Service Review

Forex Robotron FX Robot Review

Forex Robotron is an Expert Advisor developed by the Forex Robotron team. The team behind the development of this robot exists since 2013 but has perfected the EA until 2016 with a stable backtesting performance. No information is available about the developers. The latest version is 27 released in October 2019. This MetaTrader 4 EA […]

Forex Robotron is an Expert Advisor developed by the Forex Robotron team. The team behind the development of this robot exists since 2013 but has perfected the EA until 2016 with a stable backtesting performance. No information is available about the developers. The latest version is 27 released in October 2019. This MetaTrader 4 EA […]

Forex Robotron is an Expert Advisor developed by the Forex Robotron team. The team behind the development of this robot exists since 2013 but has perfected the EA until 2016 with a stable backtesting performance. No information is available about the developers. The latest version is 27 released in October 2019.

This MetaTrader 4 EA is based on the scalper strategy, executing a trade or two daily, during the calm, session end times around 9-11 pm GMT. The performance backtesting is stated to be based on real tick data, which means the testing precision is maximum. This EA is specialized for EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/USD, and USD/CAD pairs on the 5-minute timeframe as with many scalping EAs.

Overview

The performance of each pair is presented on myfxbook.com but including the older versions. Although, we have noticed that the robot is also run on USD/JPY, AUD/NZD, and other currency pairs on myfxbook.com stats summary. Forex Robotron webpage presents the results right away after their calculator that calculates how much you would gain with a specified deposit. The accounts presented on the website do not match the myfxbook account names. These are accounts before the 25 version of the EA. The current accounts are provided by external users and match the 25 version and have very good results but with a few warnings.

Namely, the testing and performance are done on Pepperstone, FXOpen, and KnitFX brokers. The presenting period does not account for the 2018 year where a huge drawdown is noted. A 57.21% drawdown is not attractive to most mid to long term traders and is one of the most important criteria for gauging how the EA manages risk. Even though the Forex Robotron features a fixed Stop Loss setting (20 pips) the balance drawdown is extreme. Daily gain is 0.32%, monthly 4.78% and total gain of 202.36% since 24 July 2018. The trades are open for a10 minutes or going longer to 4 hours, most of them being longs.

Trades that run longer than 2 hours proved to be mostly heavy losers. The Pepperstone account is used for these figures and according to the users, this EA is sensitive and will not show the same results with various brokers. Account number 3477293 shows the 2018 history but 3477294 and 3477295 show selective results from 2019 only where very good figures are presented. Yet, when we expand the analysis from the beginning, on 18th September 2018, we can see a 51% balance drawdown. We are no sure if this was done with an unperfected version of the EA. It is not known how this EA performs under FIFO broker restrictions.

Forex Robotron website is not well structured, performance charts create a very long page and at the bottom, the devs published a list of email feedback from users. All of them are positive which reduces the value of reading them. The FAQ page contains good answers on some critical points such as about the Spot Loss but in the majority is meant for Forex beginners. The developers do not disclose how the EA works, on what indicators are it based, and do not show an expert knowledge level about trading, at least not based on the website content.

Service Cost

At this point, the EA starts at $299 offering unlimited demo account licenses, 1 real account license, support, and updates. The standard package is $399 and offers 2 real licenses without any other benefits. Gold package is $499 with 3 real licenses and if you want an unlimited number of real account licenses the cost is $999. This sets Forex Robotron in the higher price range, especially since there is no demo EA available.

Conclusion

According to the other reviews and user reports, Forex Robotron does not show consistent results, is only optimal with brokers with very narrow spreads, no slippage, and fast execution times. The performance is inconclusive, unfortunately, the Forex Robotron team does not provide a demo so there is no way to test it for free.

This Forex service can be found at the following web address: https://forexrobotron.com

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Forex Service Review

Samurai EA Night Scalper for Yen Review

Scalper EAs are popular nowadays, especially among the younger traders where fast trading and in line with their lifestyle and strategic approach. Samurai Expert Advisor is another night scalper with specialized market scope. It is developed by Maksim Shmyrev from Russia for the MetaTrader 4 platform. The initial version was published on the MQL5 market […]

Scalper EAs are popular nowadays, especially among the younger traders where fast trading and in line with their lifestyle and strategic approach. Samurai Expert Advisor is another night scalper with specialized market scope. It is developed by Maksim Shmyrev from Russia for the MetaTrader 4 platform. The initial version was published on the MQL5 market […]

Scalper EAs are popular nowadays, especially among the younger traders where fast trading and in line with their lifestyle and strategic approach. Samurai Expert Advisor is another night scalper with specialized market scope. It is developed by Maksim Shmyrev from Russia for the MetaTrader 4 platform. The initial version was published on the MQL5 market on the 10th of March 2015. It has never been updated and stayed on version 1.0.

Even though the EA has some attention from the market community, there are no new features. This is probably because the EA comes from the developer’s previous products no longer available. Maksim Shmyrev mostly develops scalper EA with the same price range and similar strategies, just different market scopes. However, no new products are published by him, the last one is from 2015, still, based on the latest positive review, he is available in 2020.

Overview

The Overview page describing the Samurai EA is very short, describing the EA in two words and then move on to the settings and the performance screens. Therefore, you will not know if the scalper works for you until you test it, the only information you can rely on is the screenshots and the ceased signal on the myfxbook.com. This signal has been stopped on the 26th of August 2015, a few months after the release of this EA. Samurai EA is specialized for the Yen related currency pairs, AUD/JPY, EUR/JPY, GBP/JPY, SGD/JPY, CAD/JPY, and USD/JPY. Interestingly, the Overview page does not have even the key information like what timeframe the EA is used on, but according to the comments left by the dev and traders, M15 is the optimal one to use.

The exact method or strategy is left out from all of his products that seem to be the same strategy, just optimized for other currencies such as the USD, CAD, AUD, and the EUR/USD. According to the developer, the JPY behavior is specific and the EA is optimized for long term trading. Scalping is defined as a high-frequency trading strategy, but it is not clear how frequent Samurai EA is trading as there is no statistical data on the MQL5. According to the myfxbook.com data, the average holding time is 1h 22min, although we are not sure this is the matching EA.

In the settings panel, you will not have a lot to change. There are no clauses that reveal the inner workings of the EA, such as the indicators. There are no parameters that change the way EA is conducting the trades except a couple of filters, such as Max Spread and Slippage. The EA will work on the 5 or 4 digit brokers and it is FIFO compliant. The Risk Management module is integrated and it is not overly complex. Its parameter is just a percentage number relative to the account balance.

Based on this amount the EA will calculate the trade size. It will be for each currency pair, traders will need to attach the EA onto each chart they want EA to trade on. This parameter is called Auto MM, if you wish to used fixed trade sizing, it is defined by the Lot Size parameter. Aside from the GMT adjustments and the EA order comments plotting, there are no other settings. It is unknown if the EA has any Stop Loss or other protective measures so we will have to rely on the drawdown and other related figures form the backtesting screens.

Based on the report generated using the USD/JPY, CAD/JPY, EUR/JPY, GBP/JPY, SGD/JPY, and AUD/JPY (all pairs recommended by the developer) from 2011 to 2015 by the MQLsoft’s ReportManager 1.3.0. The success rate is 75.8%. meaning the EA has a good figure for a trend following strategy but not great for a scalper. Scalpers tend to have a higher number of small profit trades and have a few larger losing ones. In the case of Samurai EA, the average losing trade is -292 vs the average profit trade of 181. The average consecutive winning trades is 7 to 2.

Even the Maximal Drawdown is a very steady 7% although the Relative Drawdown is 43.86%, meaning the EA will leave profitable trades to fall back probably because of no exit signals generated. The result is 231k total net profit for this testing period and currency pairs. As for the signal from the myfxbook.com, the drawdown is 39.39%, the average monthly gain is 13.66% before the closing of the account after a significant gain drop of -21.14% in August 2015.

Service Cost

Samurai EA’s price is $100 as the rest of the developer’s products. There is an option to rent if for one month for $40. You will receive 10 activations. The demo is offered and has been downloaded 1051 times since the initial release.

Conclusion

Traders have left a great score of 4.3 stars based on 7 reviews. The most useful is from the user registered as jimrob:

“Nice EA, steady returns with each position open to profit potential but also downside risks are controlled. Recommended.”

The negative opinion left is not covered with a reason. If you find good results from the backtesting the demo version, you should consider forward testing on a broker demo account and see if the EA shows consistency at least for 3 months.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/8355

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Forex Service Review

Advanced News Trader EA Review

Advanced News Trader is an Expert Advisor that was added to the mql5 marketplace by Nurudeen Amedu in December of 2016. The EA has not received any updates since being launched. Overview This EA focuses on news trading. Markets move because of news, which makes news trading one of the most effective methods for short-term […]

Advanced News Trader is an Expert Advisor that was added to the mql5 marketplace by Nurudeen Amedu in December of 2016. The EA has not received any updates since being launched. Overview This EA focuses on news trading. Markets move because of news, which makes news trading one of the most effective methods for short-term […]

Advanced News Trader is an Expert Advisor that was added to the mql5 marketplace by Nurudeen Amedu in December of 2016. The EA has not received any updates since being launched.

Overview

This EA focuses on news trading. Markets move because of news, which makes news trading one of the most effective methods for short-term movements, especially when you’re looking at currencies. The Advanced News Trader follows a system that provides 2 separate strategies for news trading; Deviation and Strategy. Through Deviation trading, the trader looks for the news release he is planning on trading and enters the deviation for the buy and sell signals. Straddle trading is a more common, advanced method that will allow traders to straddle if a deviation is reached.

The EA performs a currency strength check before making entries, implements trailing stops, allows hedging, BreakEven, and supports Martingale. The product comes with a user manual and a news-deviation trigger sheet that includes major news releases along with their buy/sell deviations. It is compatible with the highly-popular MetaTrader 4 platform and only works with currency pairs.

 

Service Cost

The developer provides a few different pricing options: traders can rent the EA at a rate of $50 USD for 3 months or $100 for one year, or buy the product outright with 5 activations for $250. The overall price is a little high, but the yearly rate isn’t terrible. Fortunately, the author makes free demo accounts available, so this may be the best way to test out the EA before deciding to purchase it.

Conclusion

The Advanced News Trader EA implements two different strategies that support news trading while allowing hedging, Martingale, and other functions. It is best for identifying short-term movements based on microeconomic releases. If you’re interested, you can rent the product for $50 USD (this is the lowest price), but there isn’t any feedback regarding how well this EA has worked for others. The comments section is made up of users asking the developer questions back and forth, but we do see that the developer is very responsive and helpful.

As always, a good strategy, reputable broker, and effective risk-management skills are crucial to making profits, regardless of how well any EA performs. If this product fits with your ideas, then it could very well be an effective tool to add to your arsenal.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/19233