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Forex Service Review

Price Line EA Review

Price Line EA is an expert advisor that was developed by Chantal Sala and added to the mql5 marketplace on the 22nd of June in 2017. The EA was last updated to version 1.3 in November of the same year.

Overview

Price Line EA allows traders to manually or automatically trade on their favorite levels. When the market reaches your preset price levels, it opens orders. According to the developer, the tool acts quickly and will work for everyone who places levels on an important market range. The EA offers more risky trading tactics, such as higher exposure and the Martingale strategy, but users should be cautious as this particular trading strategy is considered dangerous and banned by many other EAs. It also appears to be missing any type of alert system when one enters into a trade or exits, which is something one user commented asking for.

Service Cost

Traders will only have the choice to rent this EA. The lack of ability to buy isn’t entirely cost-effective for users that want to continue using it – although it only costs $50 USD to rent for one year, that can add up in the long run. Cheaper options include renting at $14.60 for one month, $23.60 for 3 months, or $38.20 for one year. Traders will have the option to test the EA out on a free demo account before making any type of purchase.

Conclusion

Price Line EA comes with some functionalities that make it a useful automatic trading tool, but there are some factors that allow more risky trading strategies when using the EA, so traders should exercise caution using it. A couple of users wrote a review complaining that the EA has bugs, but we did find that the developer responds to all comments and even offers to add features when requested. As always, traders will need to consider all aspects before deciding whether to purchase this EA.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/22708

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Forex Service Review

Marauder Forex Scalper Review

Marauder is an Expert Advisor that was uploaded to the mql5 marketplace in May of 2018 by the author Andrey Kolmogorov. The EA was last updated to version 1.6 in October of 2019.

Overview

This EA is a scalper that makes trading decisions based on a set of algorithms that make it possible to work with any financial instruments or strategies on the MT4 platform. The robot doesn’t need to be closed by the user during news releases and takes other precautions against riskier trading, such as opening orders with a strictly fixed stop loss and not allowing the use of the historically risky Martingale strategy. Additional risk-management and optimization settings are also included. It works with any currency pairs on ECN accounts with leverage above 1:200. Default parameters are set to the M5 timeframe, but it is possible to use any desired timeframe.

Service Cost

The overall price of this EA is very high – it costs $1,090 USD to purchase with 10 activations. There are options for renting at a rate of $300 for 3 months or $700 for one year, but even these prices are steep. You’ll also need to make a deposit of at least $100 into your trading account, although this cost is an average starting amount. The price will put this particular EA out of many user’s price ranges but testing is still a possibility on the free demo version.

Conclusion

Marauder is a fully functioning EA that allows users to implement various strategies and work with any type of financial product on one of the most popular trading platforms on the market. Despite the high price, the EA has managed to attract a large number of traders; more than 2,500 users have tested the demo account and it has received nearly 500 comments along with reviews.

Here’s what some users are saying:

“Amazing, use extreme set and scored 180% over a month period…low Drawdown below 20%…” -gunners79

“Awesome EA. Very impressed. Ran on a live account with $100. Almost 70% return in a month with less than 1 % down draw, using the extreme set files on 3 pairs. I can’t believe how well it went! Andrey was very responsive and helpful.” -Michael

“I use the EA on several crosses, but GBPUSD and AUDUSD got the best return.” -Michael N.

As you can see, multiple users have good things to say about this EA. That isn’t to say that others didn’t take losses, as trading with any type of EA or indicator cannot guarantee profits if the user isn’t using effective risk-management in combination with other measures. If you can afford it, then this EA could be an excellent addition to your terminal, so long as it is used effectively.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/28670

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Forex Service Review

Gunbot Crypto Trading Bot Review

Gunbot is a crypto trading robot that places automatic trades based on a computer-generated algorithm. The software was created by a man named Gunther De Niro and launched in December of 2016. The current version of the software is Gunbot 18:3:9 for Windows, Linux, Mac, and ARM.

Overview

Gunbot was designed to be an easy to use automated trading bot that follows a simple procedure – buying cryptocurrency at a lower price and selling at a higher rate, thus earning profits for users with a minimal effort on their part. Gunbot is fairly effective at analyzing markets and making profitable trades and the service places a great deal of importance on trading strategies. Gunbot comes with several precoded strategies and even allows users to combine some of them. If you’re of more of a beginner status, you can select from a simple pre-set trading strategy, or you can build your own strategy.

There are some limitations though, the cheapest account only offers “emotionless” trading strategies, while accounts that cost 0.05 BTC and up offer all of the trading strategies. Gunbot can trade Bitcoin, Ethereum, Litecoin, and multiple other cryptocurrencies. You can choose from multiple trading indicators like candlesticks and the EMA, plus more. Since the software is automatic, you could allow Gunbot to run any time day or night, but the potential to make huge profits is rather limited based on the fact that this is a cryptocurrency-based trading robot.

Traders can trade on the Poloniex trading exchange and other similar exchanges without installing additional programs. The software works on Windows, Linux, and Mac computers. Gunbot also stores data locally so that others won’t be able to view information about how you trade, but one issue that may arise with the download-based software is the 10GB of ram that is needed to complete the installation. This would likely only affect you if you’re running the software on an older computer.

Service Cost

The software charges a one-time license fee with free updates for life. Prices are currently being advertised at a 50% discount off their regular rate. No word on whether this is just a marketing tactic, or if the sale will expire in the future. Take a look at each account’s current price below.

  • Starter Account: 0.02 BTC
  • Gunbot Account: 0.05 BTC
  • Gunbot Pro Account: 0.075 BTC
  • Gunbot Ultimate Account: 0.125 BTC

Bitcoin is always fluctuating, but the entry-level deposit falls into a $100 USD range on the Starter account thanks to the sale, give or take a few dollars. This is cheaper than the account’s regular $200 price, so now could be a good time to jump on the offer. There is also a BackTesting add-on for 0.0125 BTC and a TradingView add-on for a one-time payment of 0.0499 BTC. Of course, there are other providers out there that offer free services. Gunbot doesn’t currently offer a free demo account. Overall, the registration process is confusing, so the addition of demos could be especially helpful.

Conclusion

Gunbot shows some signs of being a legitimate trading robot that manages to earn a small profit for traders. Since the cryptocurrency market is known for being highly volatile, the robot can only make a profit during times when the market is stable. The software is complicated in some ways and seems to be better suited for traders that have more advanced knowledge trading with cryptocurrencies, as registration can be complicated and there are some technical aspects to think about.

After taking a look at feedback from others that have tried Gunbot, we learned that other traders were also struggling with figuring out how to set up their account and get started. However, many of them mentioned that the service has excellent support staff who are willing to walk traders through the confusing process. Once traders got everything set up and running, they documented that they did start to make profits using the bot. If you aren’t easily frustrated, then it’s worth investing some time into the bot.

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

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Forex Service Review

FXMasterBot Trading Robot Review

Fxmasterbot is an automated and manual trading robot that uses a unique algorithm developed by a team of experts with 20+ years of experience in the field. Since the software’s launch in December of 2017, Fxmasterbot has kept its service updated to adhere to recent regulations. The software is free and worth consideration if you’re looking to join the masses that are switching over to automated trading methods.

Overview

The service offers a customizable experience by allowing traders to tweak several settings that affect the algorithm behind it. You can set stop loss and take profit limits, signal strength, set the daily stop-loss limit, and take steps that could lead to a more profitable outcome, such as setting the limit on the number of consist trades that can be executed in a row, or how many trades you’d like to execute in a day.

There are also three separate account types to choose from, including a Novice, Expert, and Master account. What makes Fxmasterbot stand out is the ability to trade manually or automatically. If auto trading is turned on, then the bot will place trades immediately without requiring authorization. Through manual trading, the trader would need to accept every signal they want to trade.

The service offers traders the ability to trade with multiple different brokers. You can choose just one, or trade with several of them instead. 24option, iTrader, OTCapital, EuropeFX, and FPmarkets are among the options, and some of those are even regulated. Autotrading and manual trading are integrated on the same platform for convenience, but a mobile app isn’t available, so traders will have to resort to using their browsers instead.

There are 3 currency pairs available for trading on the Novice account, the Expert account raises the offer to 9 currency pairs, and the Master account features 17 currency pairs. The Master account also comes with some added benefits like an unlimited number of open positions, prioritization with support staff, and access to more advanced settings.

Note that traders in the United States cannot use the service and the website will block IP addresses coming from the country. Several other providers are willing to work with these clients, despite strict regulation laws.

Service Cost

Fxmasterbot offers three trading accounts with a minimum deposit of $200 on their Novice account. There is a $25 minimum per trade, so the bot will be able to place up to 8 trades with the entry-level deposit. This should be a good starting amount to test the waters with, but even more important is the fact that the actual software doesn’t charge any fees.

That means there are zero monthly, quarterly, or yearly charges for trading with the bot, which lets traders put all their money into trading without paying those out of pocket costs. If you want to open an Expert or Master account, you’ll need to make a larger $500 investment into your trading account.

Traders can also register for a free demo with $1,500 worth of virtual funds that can be used to practice. Demo accounts are a good sign that the service is legit since many scammers don’t want to show you an upfront look at their return rates or allow you to test their service.

Conclusion

Fxmasterbot allows traders to become more engaged in the trading process with customizable settings, multiple account types, several different partners, and manual trading. Your profit-return rate will depend greatly on the way that you work with those settings, so a bit of knowledge can go a long way here. The ability to manually select trades and set limits that can stop the account balance from being depleted are some of the highlights here that make this robot stand out from the crowd.

Taking a look at user reviews is an excellent way to get an idea of how successful any particular robot has been for other traders. Fxmasterbot has barely received feedback from actual users online, but the software has been included in multiple reviews on various websites. Most of the professional reviews speak fondly of the platform and give it 4 to 5 stars in most areas. The only downside is that traders don’t know which of these websites might be working with the company, but it isn’t likely that this is the case for all of them.

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

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Forex Service Review

Dark Sky Forex EA Review

Dark Sky is an expert advisor that can be found within the MQL5 section of the MQL marketplace. We have provided a link below to the exact expert advisor that we are looking at. The expert advisor was created by Marco Solito and was first uploaded on the 15th of September 2019, it was last updated on the 14th of January and is currently at version 1.60.

Overview

Dark Sky is a fully automated expert advisor that has been created for the MetaTrader 4 trading platform. The expert advisor is used for scalping and intraday trading. It claims to have an artificial intelligence algorithm to predict and anticipate trading signals.

The expert advisor has been fully tested with the EURUSD pair and has had positive results, there is normally a maximum of 10 orders at any one time.

The current recommendations are given when using Dark Sky:

-The Recommended Timeframe is M1. It is not recommended to use other timeframes for this robot, because they can only compromise the accuracy of the operations.

-The recommended pair is EURUSD. Do not use this robot on other FX pairs.

-An ECN broker is always recommended.

-It is recommended to run the robot with the default settings or settings provided by the author.

-The recommended leverage is 1:100 or more and the minimum deposit recommended starts from $2500. (every 0.01 lots).

-A low latency VPS is always recommended.

https://youtu.be/9kVO0wZ6bNM

The expert advisor comes with a number of different parameters and settings which can be used to alter the way that it works, some of them include the maximum spread allowed, the number of lots allowed, risk percentages, order timeframes, alternative bar opening, trading days, whether to allow busy and sells, maximum open orders, min distance between orders, take profit targets, stop loss targets, money limits when to stop trading and many other options are available too.

Service Cost

The Dark Sky expert advisor can be purchased for $399, so it is quite an expensive expert advisor, if you do not want to pay that much at once, you are also able to rent it, you can rent it on a monthly basis which will cost you $180 per month, for three months it will cost you $190 per month, and you can also rent it on a yearly basis which will cost you $200 per year. You are able to test the expert advisor using the MT4 testing settings, this does not, however, give a great example of live results.

Conclusion

There are currently 8 reviews available for the Dark Sky expert advisor, these reviews are giving it an overall rating of 4 out of 5 stars.

“As of today, This EA is working great. The only one in the whole market that I tested through a live account that actually works.”
—–
Edit March 17th: “I got consecutive losses that wiped out all my gain during the last week and a half. I had to stop the trades today as it kept buying EURUSD while it is now still dropping down (150 pips from initial buying position) and doubles up each time EA doesn’t recognize the market.” – A 1-Star review.

“Marco is a really helpful author, quick response, and useful suggestions. He deserves 5 stars. I test the demo for ten years, it got very good performance. I used this EA for three weeks, it got a 3% increase in the first week. 9% increase in three weeks. It is really good.” – A 5-Star review.

“Simply another EA martingale, Fair enough.” – A 2-star review.

So there are some positive and negative reviews, the creator has also been replying to some of the comments but not all of them. As the expert advisor is quite expensive, we would recommend getting in touch with the creator to see if you can get a more detailed demo version that will allow you to test it out prior to making a larger purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/42130

Categories
Forex Service Review

FX Expert Pro EA Review

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

Overview

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

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

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

Service Cost

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

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

Conclusion

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

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

Categories
Forex Service Review

Batman EA Forex Trading Robot Review

Batman can currently be found on the MQL5 marketplace under the Experts section of the site. It was created by Hieu Tran Van on the 3rd of September 2015, it received its most recent update on the 24th of March 20202 and is currently at version 20.0 of the expert advisor.

Overview

Batman is an expert advisor for the MetaTrader 4 trading platform, it works with the ZigZag indicator and uses a breakout strategy. It will only open up a trade once an actual breakout has occurred and will not speculate on one happening later. It will open a maximum of 2 trades at any one time.

The expert advisor will not use strategies like the MArtingale, hedging, or grid.

The recommended parameters to sue with the expert advisor are:

  • Pairs: XAUUSD
  • Time Frame H1
  • Risk: 2(%) Lot size =2% * Equity/100
  • Lotvar: 1: Auto lot and Lotvar=0, Lot = FixLot
  • Breakeven: 1000
  • MinProfit: 500
  • Trailing stop: 1000 When profit is equal 100 it will begin to trail
  • StopLoss: 3000
  • Take Profit: 0
  • MaxSpread:20, if Spread widen more than 20, EA delete pending trades and no put pending trades
  • RollBack: 1000, when Rate returns 1000 (1usd) from High or Low of ZigZag, EA will open pending trades
  • ZigZag: 18
  • Indent: Distance of High/Low of ZigZag and Order Open Price: 0 (default), eg 500: High of ZigZag is 1190.00, EA will open buy stop at 1190.50
  • End Hour/End Week: 23 When the Server time is >=23:00 on Friday, EA will delete all pending orders.

Service Cost

The Batman EA will currently cost you $150 to purchase it outright, this will give you up to 5 activations with no further limitations. If you prefer, you are also able to rent the expert advisor, this will cost you $50 per month to do it that way.

A free demo version is available, as the details of it are not stated on the site, we believe that it may be limited to use with the strategy tester only.

Conclusion

The overall rating for the Batman expert advisor is currently 3 out of 5, this is made up of the 26 available user reviews.

“I bought the batman ea robot three months ago and trade with it on a real account. It was very good working at the beginning but it has lost the last two months. Be careful while trading with it.” – A 3-star review.

“I have used this EA for 50 days and I have to say I like it very much. It performs similar to BATMAN signal which you can find in the author’s profile. It is a very simple and good EA. It picks up good trades but the trade management depends on you. The author will send you good settings for trade management if you don’t like to experiment. Try it on different currency pairs if you have a powerful VPS.“ – A 5-star review.

“Lost 30% of the account in ONE (!!!) trade today with the recommended setting from the author in Gold! It would be better named Bad(!)man – very angry! Using ECN-Broker and VPS service with ultrahigh Performance (under 2ms latency)” – A 1-star review.

There are a range of positive and negative reviews which shows that the expert advisor may not be as consistent or effective as the creator would like for us to believe, some mentioning profits while others losses, could be due to incorrect settings but we do not feel that half the reviews would be negative if this was the case. There are also over 300 comments, the developer has been replying to them promptly and recently, which shows that they are still willing to support the expert advisor and those that have purchased it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/11617

Categories
Forex Service Review

Exp Safe Harbor EA Review

Exp Safe Harbor can be found within the MQL5 marketplace, it was first uploaded on the 6th of October and was created by Sergei Konoplev. The most recent update that it has received was on the 19th of December 2016 and is currently at version 1.9.

Overview

Exp Safe Harbor is an expert advisor that can be sued with MetaTrader 4, it is based on the Safe Harbor indicator. It will use the signals of the indicator to open up a trade, it will do this during a trend reversal when an open trade is closed, a new one will be opened in the opposite direction. It will also use trailing stops.

The EA will only look for entries rather than exits, there are also some additional sessions including the take profits, stop losses, trailing stops, lot sizes, the period of time, and more.

Service Cost

The expert advisor can be purchased for $15 so it is relatively cheap, this will get you 5 activations of the software, there is not an option to rent the expert advisor. A free demo version is also available to use with the strategy tester of MT4.

Conclusion

There are no actual reviews or ratings available, there are a number of comments though some of them give an indication to the sort of performance that they are receiving.

“This EA is the worst ever. it doesn’t match the actual indicator at all. Not even close. this was a rip-off.” – A user comment.

“Very disappointed with the lack of communication and support!!!!” – A comment, however, was eventually replied to by the creator.

So some people are currently having issues with the expert advisor, the comment section ahs some replies from the developer, they are not very quick at replying due to having so many pieces of software on the site, the most recent reply from the developer was from 2017, we would suggest contacting them to make sure that it is still being supported before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/18764

Categories
Forex Service Review

NP Fincone FX EA Review

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

Overview

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

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

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

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

Oil Pumper WTI H4 Expert Advisor Review

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

Overview

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

The main features of the EA:

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

Some additional features of the EA:

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

Personal Trader Forex EA Review

Uploaded by Vladimir Gribachev on the 16th of October 2018, Personal Trader can be found within the MQL5 marketplace, it was last updated on the 17th of October 2018 and is currently at version 1.3.

Overview

Personal Trader is an expert advisor that has been designed for the MetaTrader 4 trading platform, the expert advisor works by using the breakdown of extremums during a given period of time.

The EA uses an advanced grid-based system so t will open multiple trades going in the same direction, it claims that this is for risk management purposes. The EA can work as a fully automated system, or it can be set to only look for signals and will then require manual execution of the trades.

The positons that the EA can open and close can be both unidirectional and multidirectional, you are able to customize the EA to suit your needs. The EA also comes with a function to close all positions in a grid at breakeven when there are a lot of open trades.

A few recommendations from the developer:

  • Before using on real money, test the adviser with minimal risk on a cent trading account
  • Use a VPS or server with minimal network latency to the broker server
  • Use the adviser on highly liquid currency pairs, such as EURUSD, GBPUSD, AUDUSD, USDJPY
  • It is recommended to select parameters for each type of account separately
  • Minimum deposit – 1000 units of base currency for 0.01 lot
  • Timeframe H4

There are also a number of parameters available, these include things like whether to use auto trading, the number of bars to count, starting lot sizes, lot multipliers, nin grid step, stop losses, take profits, trailing stops, and more.

Service Cost

There are few ways to get the expert advisor, the first is to purchase it outright with a one-off payment of $50, this will get you unlimited access to a limitation free version. There is also the option to rent the expert advisor, this will cost you $12.50 per month, or for six months it will cost you $25.

There is also a free demo version available, this will have some limitations attached to it, at the moment we are not sure what they are as they are not stated on the site, as the version is free, it could be worth downloading to try out just to make sure that it does what it is meant to and that you are able to get it set up and running properly before you make a purchase or rental.

Conclusion

There are no user reviews available for this expert advisor which means we do not have any information as to whether it does what it is meant to do, there is also just one comment which his from the developer themselves, so again, so really indication as to the quality of the EA. Due to this, we would strongly suggest trying the free version, you should also send any queries that you may have to the developer, that was you can be sure that the EA works and also that the developer is still supporting the Personal Trader.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/19269

Categories
Forex Service Review

CAP Internal Copy Trade MT5 EA Review

The CAP Internal Copy Trade EA is an Expert Advisor that can be found on the MQL5 website. The current version of this expert advisor is version 5 and was last updated on 21 January 2020.

Overview

The CAP Internal Copy Trade Expert Advisor is an EA designed to work with MetaTrader 5, we do not believe that it is compatible with any other trading platform.

This expert advisor is designed to allow you to copy your trades multiple times within the same account and trading terminal, so when a signal makes a single trade, this expert advisor will make additional trades of the exact same value.

You may ask what the value in this is, many signals on MQL5 or other sites will limit the trade sizes in order to run at safer levels, this expert advisor will allow you to trade higher trade sizes by opening multiple versions of the trade, this lets you get past the size limitations.

The example given is:

  • When you need to triple your size
  • 0.01 lot get from the original order (got from the initial signal provider)
  • (Duplicated orders generated by the tool): 0.02 lot copied order.
  • One needs to create some parameters lot multiplier. 2
  • Total: 0.01 add to 0.01*2 (lot multiplier) equals to 0.03 lot
  • Your lot size appreciates from 0.01 to 0.03 lot

There are multiple options available in order to alter the expert advisor to suit your needs, such as magic numbers, lot settings, TP/SL settings, break-even settings, and more.

Service Cost

The expert advisor currently costs $30 to buy, it can also be rented for a month which will set you back $10 per month. You can also use the free demo in order to test out the expert advisor, however, we do not know which functions are available or how long the demo will last for.

Conclusion

The only review on the website is a 4-star review which states the following:

“Mohammad updated the EA so that changes to SL and TP levels are reflected in the copied trades. Thanks for the update. The reverse trade function does not work at all.”

So you can see that the expert advisor is receiving updates, however, some of the functionality does not seem to be fully there, be sure to test out the demo if you are thinking of using this EA, just to make sure it will work the way you need it to.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/23216

Categories
Forex Service Review

Breakthrough Strategy Expert Advisor Review

Breakthrough Strategy is available from the MQL5 marketplace and can be found within the Experts section of the site. It was created by Konstantin Kulikov and uploaded to the marketplace on the 25th of May 2017, it has had a number of updates, the most recent update were on the 13th of February 2020 and this brought the EA up to version 1.6.

Overview

Breakthrough Strategy is an expert advisor that was designed for the MetaTrader 4 trading platform, the EA was developed to work with up to 25 currency pairs, it works by looking at trends and trading along with the found trends.

The way that the description has been written has made it quite complicated to work out exactly what the EA will do. We believe that it will filter out certain things in order to look for trends and breakouts in order to initiate trades., IT will use lot sizes based on 0.01 lots per $100 balance and will set stop losses and take profits.

The Ea can use First In First Out for those working from a jurisdiction that requires this, it will also log all information such as spreads, slippage and other useful information to help analyze the trades that it is making.

There is also a long list of parameters that can be altered, these will slightly change the way that the EA functions and works. The list can be accessed from within the MQL5 site itself.

Service Cost

The expert advisor can currently be purchased for ?$250, this is a one-time payment and will give you up to 8 activations of the EA. There is also a rental option, this can be done on a monthly basis which will cost you $30 per month, you can also rent it for 3 months which will cost you $80 for the three month period.

There is also a free demo version of the EA, the limitations of the free version are not stated on the site so we do not know what they are, this may mean that it can only be used with the strategy tester within MT4 but we cannot say for sure.

Conclusion

There are currently 10 reviews available for the Breakthrough Strategy EA, they have given it an overall rating of 4 out of 5.

“Congratulations Konstantin, even in this crashing market your EA is trading very nicely and profitable, great work. It helps me a lot to diversify my trading portfolio.” – A 5-star review.

“Okay. After 3 months of testing in my real account, I can say this strategy does not work at all. It has been 3 months of almost – straight – losses. The gaps that sometimes happen during the weekends leave you with huge losses that the system cannot recover with the small winnings it does have. I have been using a 2ms VPS, an ECN account, I’ve used the sets given by the developer, I’ve cut down on the currencies that were “bad” as the developer suggested and the losses have been constant. So I believe this is a completely objective review that this system does not work. Maybe it did a year ago (when I did not have it) but it certainly does not work nowadays. That’s it. Good day.” – A 1-star review.

So there is a mix of reviews, some positive and some negative, the majority are positive though. There are also plenty of comments, the developer has been replying to these comments from customers and also adding their own analysis and tips which shows that there will be some additional support should you decide to purchase the EA.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/23001

Categories
Forex Service Review

Alexis Stenvall Investment (ASI) Automated EA Review

Alexis Stenvall can be found on the MQL5 marketplace, we have provided a link to the expert advisor below. The expert advisor was first uploaded on the 31st of August 2019, it was subsequently updated a number of times and on the 11th of March 2020 the most recent version was uploaded, it is now on version 3.32.

Overview

Alexis Stenvall is an expert advisor for the MetaTrader 4 trading platform. The expert advisor is a piece of automated software that has been designed to profit from currency fluctuations, it is fully automated and will analyze the markets and trade at the same time.

The expert advisor does not use dangerous strategies such as martingale or grid, all trades have a stop loss attached to it to reduce risks.

The recommended settings for the expert advisor:

  • Account type: Hedging
  • Leverage: Any
  • Speed of execution: No matter – the holding time is 1 to 4 hours
  • The currency of account: Any – default settings for USD or EUR
  • Compatibility with other EA: Yes
  • VPS: Not needed
  • Minimum deposit: 100 USD

The expert advisor also comes with a number of parameters and settings that will be explained to you within the manual when purchasing or renting it.

Service Cost

The expert advisor is quite an expensive one, to purchase it outright it will cost you $1,800, this version has no limitations and gives you unlimited access. There are also some options to rent it, you can rent it on a monthly basis for $99 per month, you can also rent it for three months which will cost you $250, for six months it will cost $480 and for one year it will cost you $900.

There is also a free demo version available, we are not sure on what the limitations are, as they are not mentioned on the site, we just know that it will have some, it could be worth downloading the free version to test it out before making a purchase or rental.

Conclusion

7 reviews that are currently giving the expert advisor and overall rating of 4.5 out of 5.

“I have tested this EA in a demo account for a week and put it in a real trading account. This EA has been giving me profits. My trades are different from ASI live signal, maybe it different brokers. Gennady has been patient and helpful in answering my questions.“ – A 5-star review.

“Good EA with stable performance and low DD. The Backtest results are very promising. The author is very friendly and helpful too. Will update the results in the future.” – A 5-star review.

“Can lead to big DD” – A 2-star review.

So the majority of the reviews ar every positive giving it a majority of 5 out of 5 ratings. There are a lot of comments, the developer has been replying to the majority of them which shows that they are still supporting the expert advisor. Due to its high price, we would suggest trying out the demo and also asking any questions to the developer so you can be sure that it is the right expert advisor for you before you make such a large purchase or rental.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/40865

Categories
Forex Service Review

FoxTrotTWO EA Review

Created by Thomas Gruening, FoxTrotTWO EA can be found on the MQL5 marketplace under the Experts heading. It was first uploaded to the marketplace on the 25th of March 2016 and it was updated on the 23rd of February 2018 and is currently at version 7.0.

Overview

FoxTrotTWO EA is an expert advisor for the MetaTrader 4 trading platform. It is a scalping EA designed to be used with the EURUSD currency pair, it can also be used with other major currency pairs but may not be as accurate, it was also created to be used on the M15 timeframe.

The EA will trade a narrow range at night, at the top and bottom of a range, it will put in trades in the opposite direction. It will use several indicators to do this and will look at multiple timeframes.

The developer has given some recommendations as to the settings to use:

  • Trading Time: mainly in the European night time.
  • Timeframe: M15.
  • Broker: it is recommended to use an ECN broker and a VPS.
  • Risk Setting: 20 low risks, 40 middle risks, 60 high risks.

There are also plenty of parameters and settings available, some of these include the trading start and close times, maximum spreads, slippage, take profits, stop losses, risk management, lot sizes, max lot sizes, magic numbers, order comments, filters, and many more.

Service Cost

The expert advisor can be purchased outright with a one-off payment of $159, this will give you up to 8 activations and does not come with any additional limitations. If you would prefer, you can also rent the expert advisor on a monthly basis, this will cost you $29 per month to do so.

A free demo version is also available, this does not have its limitations stated on the site, this normally means that it can only be sued with the strategy tester, but this has not been made clear.

Conclusion

The indicator has over 40 user reviews giving it an overall rating of 4 out of 5.,

“Extremely profitable EA with a little caveat – I run it only with my private settings. 9 months live all is OK. Anyone can make his own settings, just purchase TDS, learn hard for one year how to optimize EAs and you will have it all. This EA is one of the very best here. June 28, 2019. Still running strong, still profitable, still five stars from me.” – A 5-star review.

“Spent all year doing operations to get a negative balance. This is real junk! And the seller doesn’t even care about optimizing.” – A 2-star review.

“I have to update my review because despite Thomas’s support and Whatsapp channel etc, the EA is absolute rubbish. I have decided to completely stop it. There are quite a lot of series of trades that the EA performs but there comes a day where you have a huge loss and because of that, the drawdown is quite big. His Tickmill ECN signal has a 25% loss for the entire year of 2017. I wish I could have seen that earlier. I am really sorry for buying this EA.” – A 1-star review.

“Used for a few weeks together with other Night Trader EA. This EA is clearly a leader.” – A 5-star review.

A mix of reviews, while the majority are positive and show that the expert advisor is doing what it claims to do, some have been struggling and making losses with it. The developer has been very active in offering support, over 900 comments and the developer has been replying to a lot of them which is great to see and shows that he is still actively supporting the product. There haven’t been any comments in 2020 yet, so it may be worth sending any questions you have to them just to make sure they are still around to support you and the software.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/15390

Categories
Forex Service Review

Netsrac Correlation Trader (NCT) EA Review

The Netsrac Correlation Trader is currently found on the MQL5 marketplace, it is located under the Experts section of the site. We have also provided a link to it below. The expert advisor was created by Carsten Pflug, it was first uploaded on the 20th of May 2019, it has had a number of updates, the most recent update was on the 22nd of January 2020 and is currently at version 3.20.

Overview

Netsrac Correlation Trader is an expert advisor that can be used to trade positive and negative correlated currency pairs with hedging, it can be used with the MetaTrader 4 trading platform.

The main features of the expert advisor:

  • It looks for positive and negative correlated pairs
  • It shows you a signal, if the correlated pairs are not in balance
  • It can “autotrade” some or all correlated pairs with your setting of time frames and signal-values (handle with care)
  • It can set the correct lot size to have pip value and daily range based optimal hedge trades
  • It can be your single tool to support your discretionary trading of correlations

The expert advisor can be used on any timeframe when using the signal features of the EA, the smaller timeframes will require more manual intervention than the larger timeframes, the M30 timeframe is best suited for automated trading.

Service Cost

The expert advisor can be purchased for $139, this will give you unlimited and limitation free access to the expert advisor. There is also the option to rent the software on a monthly basis, this will cost you $34 per month to use it this way.

There is a free demo version of the expert advisor, the developer does not think the demo version will give you much as it only works with two pairs at a time so it cannot fully function, the developer of the expert advisor suggests using the month rental rather than the demo version as it will give you a better understanding of how it will work. Having a half functioning demo isn’t really helpful or the intended purpose of a demo version.

Conclusion

At the time of writing, there are 8 reviews, they are all very positive and have given the expert advisor an overall rating of 5 out of 5.

“I really like correlation trading, and this EA is a great tool. The interface is well thought out and easy to use, and Carsten is quick to respond to questions and rectify problems. So far, positive results on my live account.” – A 5-star review.

“Good system, easy to use. With layouts that are easy to understand And good support, When start making profits, therefore ensuring Thanks to the development team“ – A 5-star review.

“Seems nice product. The author is great and supportive. Will re-evaluate later if needed.” – A 5-star review.

So the reviews are all looking good and positive, the developer is also replying to a lot of the comments which shows that they are actively supporting the expert advisor. Even with all of the positive reviews, be sure to download and try out the free demo version, while it may not function fully, it will at least give you an indication s to how it works and you will be able to be sure that you can get it set up and running properly before you make a purchase or a rental.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/38813

Categories
Forex Service Review

EA Ríchu 2.0 EA Review

Richu is located within the MQL5 marketplace under the Experts sub-category, it was developed and uploaded to the marketplace by Jackson Maia Kujaki on the 4th of March 2020, it has not received any updates and so it is still at version 1.0 of the software.

Overview

Richu is an expert advisor that was created for the MetaTrader 4 trading platform, the EA was designed to use analysis based around moving averages along with a trailing stop loss, the developer suggests that it brings in good results both short term and long terms.

When using it long term, it can be used with the majority of the major currency pairs and should be used on the H1, H4 or D1 timeframes, it should primarily be used with the EURSUD and GBPUSD currency pairs and when using it with XAUUSD it should be set on the M30 timeframe.

The EA will select the lot sizes to use automatically which will be based on the percentage of capital that the account ahs, so it can also work out compounding interest to bring better and more consistent gains. It is recommended to have at least $100 for each 0.5 lot size used. A VPS should be used as well as an account with low spreads and it is also recommended to use the trailing stop feature.

The description does not actually tell you about how it will trade such as the strategy that it will sue, we know that it uses moving averages but nothing more than that, for such an expensive EA (see next section) we would expect it to have a more detailed description of what it actually does. There is also no mention of any parameters or settings available to alter the functions of the EA, so, unfortunately, we are not able to comment on these.

Service Cost

The expert advisor has been created to be rented as shown by its incredibly high price of $12,000 to purchase it outright, if you did, you would get up to 5 activations of the software with no other limitations. The rental options are a little more affordable, you can rent it on a monthly basis which will cost you $120 per month, for six months it will cost you $600 for that time period and for a year rental, it will cost you $800 for the year.

A free demo version is available to try out, but this is limited to only being used with the strategy tester within the MT4 platform and it, unfortunately, cannot be used with a live account. The developer is offering a 15-day trial of the full version, you will need to get in contact with them in order to request this version rather than getting it direct from the MQL5 marketplace.

Conclusion

At the time of writing, there were no reviews or ratings from those that have used the EA, this is a shame as the reviews are often a great way to work out whether people are finding it useful and profitable, so be sure to check back regularly to see if any have popped up. There are also no comments which are often a great way to see the sort of support that is being offered, as there aren’t any, we would suggest trying to contact the developer with any questions so you can be sure that they are still around to actively support the EA should you decide to rent or purchase it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/46449

Categories
Forex Service Review

HFT Profit Scalper EA Review

HTF Profit Scaler can be found within the MQL5 marketplace and is under the sub-category of Experts, it was first uploaded to the marketplace on the 4th of March 2020 by its creator Yevhenii Mavletbaiev. It has received a few updates, the most recent update was on the 7th of April 2020 and it is currently at version 1.3.

Overview

HFT Profit Scalper is an expert advisor that was developed for use with the MetaTrader 4 platform, it was developed as an algorithmic trading EA, the EA uses a high-frequency scalping system for its trades. It will analyze the markets and trade on the pullbacks in the price, it will run 24/7 and will trade micro price deviations from the chose range, the range is calculated with the use of the average price over a certain period of time.

The EA works with multiple different currency pairs, the standard settings that come with the EA have been optimized for use with the EURJPY, USDJPOY, and GBPUSD currency pairs and on the M5 timeframe, it is also recommended that you use it with a VPS due to its 24 hours a day running needs.

The EA does not use any of the more risky strategies such as martingale or grids, it has a fixed stop loss which can be altered and it will automatically reinvest any earned profits for further trading needs, the EA is fully automated and should not need any manual interventions once it has been set up. The EA does come with some added parameters that can be altered, however, the description of the Ea does not state what these are so we are unfortunately not able to comment on them at this time.

Service Cost

The EA can be purchased with a one-off payment of $60, this is a single purchase that allows you to activate the EA up to 10 times, there are no further limitations attached to it. Unlike many of the EAs on the MQL5 marketplace, the developer has not given you the opportunity to rent this EA, so purchasing it is the only option.

A free demo version can be downloaded, however, it can only be sued with the strategy tester within the MT4 platform and it cannot be tested on a live account.

Conclusion

At the time of writing, there were no reviews or ratings from those that have purchased the EA, this makes it hard to know whether people are finding it useful and profitable or what the overall consensus is. There are a number of different comments, the majority of them are in Russian, google translate showed us that the majority of them were talking about features that were not working properly, the good news is that the developer of the Ea was very quick to respond to them with a solution which shows a good level of customer support and this is a very promising sign as to the sort of support you would receive should you decide to make a purchase of the EA.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/46937

Categories
Forex Service Review

Gold Treasure Hunter Expert Advisor Review

Gold Treasure Hunter H1 was first uploaded to the MQL5 marketplace on the 27th of November 2018, the developer, Marek Kupka last updated the software on the 25th of March 2020 and this brought the expert advisor up to version 2.0.

Overview

Gold Treasure Hunter H1 is an expert advisor for the MetaTrader 4 trading platform. The EA works by looking for breakouts of the highest channel once it has consolidated for a while, as the title suggests, the EA is designed to work with Gold on the H1 timeframe.

Some of the main features of the expert advisor:

-It uses Stop pending orders with FIXED Stop Loss and Takes Profit.
-The strategy uses also PROFIT TRAILING function to lock as much profit as possible.
-For every candle, the pending orders are modified to adapt the market behavior.
-You need to set only the lot size depending on the amount of capital in relation to the expected risk.

Some additional features of the EA:

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

In terms of settings and parameters, there are a few options available. These include lot sizes, magic numbers, custom comments, email notifications, and to display the info panel.

Service Cost

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

Conclusion

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

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/31184

Categories
Forex Service Review

FX Multi Recovery EA Review

FX Multi Recovery can be found within the MQL5 marketplace under the heading of Experts, it was uploaded to the marketplace by Keisuke Tsutsui, it was uploaded on the 15th of March 2020, it has had a couple of updates, the most recent update was on the 10th of April 2020 and it is currently at version 1.21.

Overview

FX Multi Recovery is an expert advisor that as created to be used with the MetaTrader 4 trading platform, its main purpose is to act as a recovery system for when a trade goes in the wrong directions.

This sounds fantastic, but then within the first sentence of the description it has been described as a standard martingale system, this is something that you should be very cautious of, the martingale system is a system that can cause a lot of drawdowns. When the markets go against you with a trade of 0.01 lots, the EA will then open up another trade going in the same direction at 0.2 lots, if the markets continue to move against you a thrid trade the size of 0.3 lots will open and this will continue until their the markets reverse, or your account blows, it is a very risky strategy and one that many would advise you to avoid.

There are two different martingale modes that come with the EA, the first is a method that looks at the last two trades, it will close out the last two trades rather than the whole lot, the aim of this is to gradually reduce the lot sizes used as the markets come in. The second method is a loss cut mode, this is where the maximum number of trades have been reached if it continues the wrong way, the last trade is closed a new one is opened at the same lot size.

There are some additional functions and parameters that come with the EA, these include magic numbers along with filters for them, min distance of steps, the recovery strength, maximum number of orders, and more.

Service Cost

The FX Multi Recovery EA can be purchased from the marketplace for a one-time payment of $100, this gets you up to 10 activations of the software and with no other limitations If you would prefer, there is also the option to rent the EA, this can be done on a monthly basis which will cost $10 per month or for three months it will cost $30. A free demo version is available to try out, this is limited to only being usable with the strategy tester within the MT4 platform and cannot be tested on live accounts.

Conclusion

The EA does not have any reviews or ratings from its users at the time of us writing, so we do not know whether other sare finding it useful or not. There is one comment but it is from the developer offering some recommended settings, so while we do not know the quality of support that will be on offer, we do at least know what they are still actively supporting the EA.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47288

Categories
Forex Service Review

Double Power Gold Expert Advisor Review

DoublePowerGold is an expert advisor that can be found within the MQL5 marketplace, it was created by Konstantin Toporkin and uploaded to the marketplace on the 6th of October 2017, it was uploaded as version 1.1. And has not received any further updates.

Overview

DoublePowerGold is an expert advisor that was created for the MetaTrader 4 trading platform, its main purpose is to work as a fully automated trading system for the XAUUSD assets on the H1 timeframe. There is no additional information on how it trades or its main functions which is not a great sign and not very transparent.

The main advantages of the EA:

  • The EA does not use such systems as Martin, hedging, etc.
  • Good testing results with 99.9% of simulation quality.
  • Need only to set lot size or risk and Magic number.

There are a few settings available for you to alter, these include whether it should only close positions, what risk to take, lot sizes, and magic numbers.

Service Cost

The expert advisor will currently cost you $30 to purchase with no limitations apart from a maximum of 10 activations. There is also the option to rent the expert advisor, this can be done monthly and will cost you $10 per month. A free demo version is available, but no information is posted on the site, this normally means that it can only be sued with the strategy tester within the MetaTrader 4 platform.

Conclusion

At the time of writing, there were no user reviews or ratings available, so we do not know whether the users are finding it useful or profitable. There are a couple of comments that the developer has replied to, but the last comment was back in 2017 so there aren’t any recent ones. Due to the length of time, it is hard for users to know whether it is still being actively supported, we would suggest sending your questions and queries to the developer to make sure that it is still being supported before making a purchase or rental. It will also give you a chance to find out exactly what the EA does.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/25674

Categories
Forex Service Review

Euro Forecaster (EUR/USD H1) EA Review

Euro Forecaster H1 can be found within the MQL5 marketplace under the Experts category. It was uploaded on the 20th of May 2019 by Marek Kupka and has not received any further updates so it is still at version 1.0.

Overview

Euro Forecaster H1 is an expert advisor that was created for the MetaTrader 4 platform, its main purpose is to look for breakouts on the opening bar, it can currently be used with the EURSUD pair on the 1H timeframes.

Some of the main features of the expert advisor:

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

There are also a number of different settings available, these include the lot sizes, exit time on Fridays, magic numbers, custom comments, email notifications, and whether to display information on the panel.

Service Cost

The expert advisor will currently cost you $99 to purchase it outright, this purchase will give you up to 10 activations of the EA without any further limitations. Unlike many EAs on the MQL5 site, there is no option to rent the EA. There is a free version, but this demo version will be severely limited and may only be usable with the strategy tester within MT4.

Conclusion

Unfortunately, there aren’t any user reviews for the EA, this makes it hard for us to know whether those that are using it are finding that the EA is doing what it is meant to do and whether it is beneficial for them. There are also no comments, so we cannot see the sort of customer support that is on offer. Due to this, we would suggest trying out the free demo version, you should also send any questions that you may have to the developer, this way you can make sure that it will be the right EA for you and that it is still being supported by the developer.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/39084

Categories
Forex Service Review

Candle Painter Indicator Review

Candle Painter can be found within the MQL5 marketplace, there may be other indicators with similar names to so avoid andy confusion we have added a link to the indicator that we are looking at. Benjamin Nicola first uploaded the indicator on the 15th of January 2016, it was updated on the 26th of July 2016 and it is currently at version 1.3.

Overview

The Candle Painter is an indicator for the MetaTrader 4 trading platform, it contains a number of different indicators that can help you follow the trend of colored candles and to get alerts for overbought and oversold currencies.

You are able to select from a number of different indicators including RSI, CCI, MACD Histogram Level, MACD Main vs Signal line, OsMA, Stochastic Level, Stochastic Main vs Signal line, Williams’ Percentage Range, Momentum, DeMarker, Force Index, 2MAs, and RVI.

Service Cost

The Candle Painter indicator currently costs $25 to purchase it outright with no limitations, you are also able to rent it on a monthly basis, this will cost you $10 per month to do so. There is a free demo version, but the details of the free version are not known, there will be some limitations but it could still be worth downloading to test out.

Conclusion

Just the one review available giving the indicator a rating of 5 out of 5.

“Excellent indicator to implement their own strategies Only waiting that Ben updates indicator with suggestions I gave him a long time ago. Come on Ben 🙂 UPDATE Great job with the 1.2 very important option to set own strategy select more indicators, also including the signal alignment % to trigger. Ben is always ready to accept suggestions and new ideas to implement indicator to make it even more powerful. For those working with the trend is a must-have !!!!!! Great job. I confirm 5 stars and more if could be possible 🙂 Fab.“ – A 5-star review.

The one available review is very positive, there are also a number of comments, the developer has been replying to the majority of them quite quickly which shows that they are still actively supporting the indicator. Be sure to try out the demo version and contact the creator with any questions, that way you can be sure that you will be getting an indicator that does what you need it to and that you can get working before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13987

Categories
Forex Service Review

Apogeum Price Action EA Review

Apogeum Price Action was created by Ivan Pochta, he first uploaded the expert advisor onto the MQL5 marketplace on the 13th of October 2017, there have been a number of updates, the most recent version is version 6.1 which was updated on the 25th of March 2020.

Overview

Designed for the MetaTrader 4 trading platform, Apogeum Price Action is a fully automated expert advisor that will recognize price action as well as the start of a trend. The EA will only open trades in the direction of the trend and will not make reverse trades.

The main difference to other Price Action EAs according to the website is that it will look for creeping trends rather than large impulses on movement.

The expert advisor works best with the following timeframes and currencies:
M15: EURAUD, EURJPY, EURNZD, EURUSD, GBPJPY, GBPUSD, USDCHF, USDJPY, XAUUSD.
M30: EURAUD, EURJPY, EURNZD, EURUSD, GBPJPY, GBPUSD, USDCHF, USDJPY, XAUUSD.
H1: EURAUD, EURJPY, EURNZD, EURUSD, GBPJPY, GBPUSD, USDCHF, USDJPY, XAUUSD.

The expert advisor also comes with a number of settings and parameters, these include the likes of comments, GMT offset, money management settings, fixed lots, risk levels, which instruments to use on which timeframes, special symbols, and more.

Service Cost

There is currently a promotion going on, this means that you are able to purchase the expert advisor for $375 rather than its usual price of $750. That is a one-off purchase that gives you unlimited access to a limitation free version, unlike many expert advisors, there is no option to rent this one so the one-off purchase is the only option.

There is a free demo version available, unfortunately, the website does not give a lot of information about ti away so we are not sure what the limitations of the free version are. Due to the high price of the product, we would suggest trying out the free version just to make sure that it will do what you need it to do, even if this just allows you to use the strategy tester with it.

Conclusion

The Apogeum Price Action expert advisor currently has 24 user reviews, these have given the EA an overall rating of 4 out of 5.

“There will be relatively long-term losses, but the retracement is not too high, it is relatively stable over the long term, but the price is slightly higher, and the effect is not as good as many cheaper products.” – A 4-star review.

“I’m afraid, its time for a review, and it is not a pretty one. I have been testing this EA for nearly 4 months on a real account. The EA made great backtests since 2003. The real results is very different and negative. It’s such a shame because I like another product from Ivan, which is making consistent profit. Numerous updates have not made the results look better. I am putting the EA down on my real account and will monitor it from a demo instead. Shame, real shame” – A 1-star review.

“Excellent service from the author always very responsive. Very motivated to help others which goes with his EA performance. I feel like Ivan never sleeps and always answers a question. Great EA so far, I will update in the future. Can’t wait to see what he comes out with next.” – A 5-star review.

So there is a mix of reviews, the majority are positive but there are certainly a few negatives ones too. In terms of the support you will receive, the developer has been replying to every comment that has been made, showing that they are still dedicated to supporting the product and those that are using it, this is a real positive thing to see. Due to its high price, we would suggest researching and talking with the developer to make sure that the products will do what you need it to do before you make the rather large purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/25724

Categories
Forex Service Review

All Hail the Queen EA Review

All Hail the Queen GUEU H1 can be found within the Experts category of the MQL5 marketplace. It was first uploaded on the 26th of March 2020 by its creator Marek Kupka, it has not had any updates since being uploaded to the marketplace and so the software is still at version 1.0.

Overview

All Hail the Queen GUEU H1 is an expert advisor that was designed for the MetaTrader 4 trading platform, the EA works by looking for breakouts on the current open bar, it will then filter out the signals using a Bollinger Band indicator. It will enter trades when the price is outside the Bollinger Band after some time of consolidation. It uses stop orders with fixed stop losses and take profits.

The developer has mentioned the following bits of information:

-It is a very simple strategy with only a few parameters.
-At 9:00 pm, we are closing trading every Friday to prevent from weekly gaps.
-For every candle, the pending orders are modified to adapt the market behavior.
-Everything is already set up for the H1 timeframe.
-For every market you want to trade, you need to put the EA to the separate window and set an original magic number.
-You need to set only the lot size depending on the amount of capital in relation to the expected risk.

The main features of the expert advisor:

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

In terms of the parameters and settings, the main ones available to alter include the lot sizes, what time to close on Fridays, magic numbers, custom comments, email notifications, and whether to display the information panel.

Service Cost

All Hail the Queen GUEU H1 will currently cost you $129 to purchase it outright with a one-time payment, there is no option to rent this expert advisor and when purchasing, you will get up to 10 activations of the software. There is also a free demo version available, this can only be used with the strategy tester within the MT4 trading platform.

Conclusion

At the time of writing this review, there were no reviews or ratings available fro people who have used the EA, this makes it quite hard to gauge whether the EA is doing what it is meant to be doing and how effective it actually is. There are also no comments, what this means is that we do not know whether the developer is still actively supporting the EA, so you should try to get in touch with any questions that you may have, this way you can be sure that they are available should you need any help after you make a purchase of the EA.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47643

Categories
Forex Service Review

Ain’t No Trend Expert Advisor Review

Ain’t No Trend can be found within the MQL5 marketplace under the Experts heading, it was created by Evgeniy Scherbina and first uploaded to the marketplace on the 13th of March 2020, it received an update on the 22nd of March 2020 and this brought the EA up to version 1.1.

Overview

Ain’t No Trend is an expert advisor that was created for the MetaTrader 4 trading platform, it is described as a neural advisor that has been developed to work with 10 different currency pairs, these pairs are AUD/USD, EUR/JPY, EUR/USD, GBP/CHF, GBP/JPY, GBP/USD, USD/CAD, USD/CHF, USD/JPY, and XAU/USD (or GOLD). The EA will also use the H4 timeframe, it does not matter which timeframe you put the Ea on, it will always use the H4 timeframes.

The EA uses two different indicators to find its trades, it used the MACD )18, 39, 14, Median Price) and the RSI (21, Median Price) indicators. The EA will also use three different types of trades, the crossing of zero lines in the MACD charts, a double-crossing of the zero lines in the MACD chart, and a rollback from a bar peak in the MACD chart. The EA has been trained to filter the possible trades in accordance with visually important indicator properties along with a ratio of current values found within their histories.

The EA has three different neural networks that will attempt to train themselves as thy trade and analyze the markets.

The EA also comes with some parameters that can be altered to slightly change thew ay that the EA functions. Some of the available settings include the font size, push notifications, close when a profit percentage is met, whether to close losing trades at the end of the day, stop loss numbers, the trading volume of one trade (lot size, and more.

Service Cost

The Aint No Trend EA can be downloaded completely free of charge, due to this, there are no limitations to the number of times that you can activate the EA and there is also no free demo version available s it is not required.

Conclusion

There are no user reviews for the EA so it currently does not have a rating. There are a couple of comments from people who have used the EA, they are both indicating that the EA has not been opening up many trades, the developer has responded to them promptly which is great to see, and they have indicated that the EA will not open up many trades and that it should be sued with all symbols in order to have more trades available. The developer responded quickly which shows that they are still supporting the EA and that they will be there to offer support should you decide to download and try out the EA.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47238

Categories
Forex Service Review

MACD Expert Advisor Review

The MACD RA is an expert advisor that is currently found on on the QUIVOfx website, there are a few expert advisors by this name, so to make sure you understand which one we are talking about, we have linked the expert advisor below. The current version on this expert advisor is v1.06 for the basic and advanced version and v1.07 for the pro version.

Overview

The MACD expert advisor is designed to use moving average convergence and divergence in order to enter a trade. The expert advisor currently uses four different strategies.

Normal MACD: This will open up a trade once the signal line breaks through the MACD histogram and both are below (or above) the zero lines.

MACD Line Crosses Zero: Will open a buy position when the MACD line crosses the zero line from above.

Signal Line Crosses Zero: Will open a buy position if the signal line crosses the zero line from above

Super MACD: If the past three bars of the histogram are red and below zero, if a blue bar is opened then the EA will open up a trade (opposite for sells).

The expert advisor only works with MetaTrader 4 and is not compatible with any other trading platform, the different versions (basic, advanced, and pro) come with slightly different features.

The basic version comes with a money management system, the ability to trade on a new bar, and an inverse strategy.

The advanced version comes with everything tat the basic version does, as well as the ability to use a trailing stop, a break-even system, spread filters, an MA trend filter, and the ability to select how many trades per bar.

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

There aren’t any results posted on the site about this expert advisor.

Service Cost

The basic version of this expert advisor is free, and so can be used as a demo to test out the functions, the advanced version currently costs CHF 29.90 while the pro version currently costs CHF 39.90, there isn’t a demo version of the advanced or pro versions available.

Conclusion

There aren’t any written reviews available for this expert advisor, there is a rating system available, the expert advisor currently has an overall rating of 3.9/5 with 151 ratings, this isn’t a terrible score and shows that the expert advisor is certainly working for some users.

This Forex Indicator is currently available at: https://quivofx.com/expert-advisor/macd-ea

Categories
Forex Service Review

Jimdandy Trade Management EA Review

James Hodges uploaded the Jimdandy Trade Management Tool to the MQL 5 marketplace under the Experts heading. It was first uploaded on the 28th of September 2015, it has had a few different updates, the most recent update was on the 23rd of February 2018 and is currently at version 6.1.

Overview

Jimdandy Trade Management Tool is an expert advisor that can be used with the MetaTrader 4 trading platform, the purpose of the expert advisor is to allow you to place live trades and to allow you to test strategies with the strategy tester.

The main concept was to make it easier for a trader to make the initial decision and trade and to know which direction to trade. Once the trade has been opened the EA will manage the trade for you.

There are plenty of options available, some of them include easy to use trading buttons, multiple panels, stop losses, take profits, the type of trading to use, whether to show the tools and to automatically assign magic numbers. There are then some additional parameters such as the lot sizes to use, expiration times, sounds, notifications, and more.

Service Cost

The Jimdandy Trade Management Tool can be purchased for $149, this is a one-off payment, there is also the option to rent the expert advisor, this can be done on a monthly basis which will cost you $25 per month, you can also rent it for three months which will cost you $60, for six months it will cost you $90 and for one year it will cost you $90.

There is a free demo version available, this version will only be available to be used with the strategy tester and will be limited to the CAD/JPY, CAD/CHF, GBP/CAD, GBP/USD, GBP/JPY, EUR/GBP currency pairs.

Conclusion

There are only four reviews, they have given the expert advisor an overall rating of 5 out of 5.

“JDTMT is a unique EA that works with my manual analysis and then executes trades to ensure a net profit. If I am correct it makes more if I am wrong it makes a little. It has options to set up a Martingale series of trades which eventually leads to a profit even if my analysis was wrong. Create a trading plan and then the EA executes with no emotion no fear no greed. Once I started to understand the interrelationships of Stop Loss, Take Profit, Time of Day, Martingale Multiplier I have seen a consistent 0.5% to 3.5% return per trade series.” – A 5-star review.

“Learn how to use this tool using the back-test. Use with other indicators to confirm the trend. ( In the Back-test you can pause the visual mode and add your indicators) Not a set and forget, Once you know how to trade, This is the tool You need. This is my first and only 5-star rating ever!” – A 5-star review.

The four available reviews are generally positive, there are also a number of different comments the developer was replying to most of them but has not replied the most recent few, this could show that he has stopped supporting the expert advisor, or may have just missed them. We would recommend asking any questions that you have directly to the developer, so you can make sure it will do what you need, and also that it is still being supported.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/11862

Categories
Forex Service Review

ReitakFX ProTrend EA Review

ReitakFX ProTrend EA is located on the MQL5 marketplace under the Experts heading. It was uploaded to the MQL5 marketplace on the 28th of March 20202, it was created by Boris Sedlar. Since it has been uploaded, there have been no updates, so the current version of the software is still 1.0.

Overview

ReitakFX ProTrend EA was designed to be used with the MetaTrader 4 trading platform, it is an expert advisor that works as an automated version for an indicator which was titled ProTrend Indicator.

The EA works by using various EMAs, along with some very specific averaging algorithms. The Ea works with forex currencies, commodities, stocks, crypto, and more, it also works on all time frames but it is recommended to use it on the H1 and H4 timeframes.

There are some additional settings that come with the EA, this can slightly alter the way that the EA functions. Some of the options available include whether to use Ueiken Ashi, to use fixed lots, type of money management to use, lot size multipliers, stop losses, take profits, max positions, and more.

Service Cost

The expert advisor will cost you $50 to purchase, this is an outright purchase that will get you up to 5 activations with no further limitations. There is not an option to rent this EA. There is a free demo version available, this will only be usable with the strategy tester within the MT4 platform though.

Conclusion

There are currently no reviews available for the ReitakFX ProTrend EA, this means that we cannot see whether those that are using it are finding it useful and if it is profitable or not. There is one comment, the developer did not reply to the comments directly but they did complete the task that was asked of them, so while communication could be better, it does seem like the developer is still actively supporting the EA which is a great thing to see.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47770

Categories
Forex Service Review

PZ Super Trend FX Indicator Review

PZ Super Trend can be found within the Indicators section of the MQL5 marketplace, there may be others with similar names so we have provided with a link to the exact indicator that we are looking at. The indicator was created by Arturo Lopez Perez and was first uploaded on the 8th of February 2019, there haven’t been any further updates but the current version of this indicator is version 2.0.

Overview

The PZ Super Trend was created to be used with the MetaTrader 4 trading platform, the indicator is stated as a high-quality implementation of the Super Trend indicator. It doesn’t actually offer a lot of information on how the indicator works.

The main features stated:

  • Easy to trade
  • It implements alerts of all kinds
  • It implements a multi-timeframe dashboard
  • It is non-repainting and non-back painting

There are also a few settings and inputs that can help change the functions to better suit your needs, these include the ATM period, the ATM multiplier, maximum history bars to use, to enable or disable the dashboard, and to enable or disable alerts.

Service Cost

The expert advisor is completely free of charge so you are able to download it for free. As it is free, there are also no demo versions available as they are not needed.

Conclusion

There are currently 9 reviews written by users of the indicator, they have given it an overall rating of 4.5 out of 5 stars.

“LOVE IT! Been looking for this indicator to use in MT4!! Thank you!! (I also use it as 1.5 per balashiva 10.15.19 comment. Works great!!” – A 5-star review.

“Excellent, another quality product from PointZero and Arthur. Thanks” – A 5-star review.

“Good” – A 3-star review.

The majority of the reviews ar every positive, there are also some comments, but the creator does not seem to be replying to them which is a shame. Normally we would advise that you download and try the demo version, but as the indicator is free, there is no harm in downloading it to test it yourself to see how it functions and whether it suits your needs.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/35644

Categories
Forex Service Review

Open Lock EA Review

Open Lock is an expert advisor that can be found within the MQL5 marketplace, we have added a link below to the exact expert advisor that we are looking at. Open Lock was first uploaded onto the marketplace on the 25th of July 2017, it was recently updated on the 14th of March 2020 and is now at version 5.19.

Overview

Open Lock is an expert advisor to be used with the MetaTrader 4 trading platform, its function is to help reduce the accounts drawdown, it will do this by splitting a losing trade into multiple parts, each part will be closed separately, the EA can interact with other expert advisors, for example when a certain drawdown is reached it will disable the other expert advisors until orders have been closed.

The expert advisor has three methods:

  • Locking to prevent a drawdown increase
  • Averaging orders used to cover the loss
  • Partial closure to reduce the load on the deposit

There is a wide range of parameters available such as language, magic numbers, when to start working, the drawdown in currency, to stop other advisors, equity levels, maximum lots in averaging, and more.

Service Cost

It currently costs $299 to purchase this expert advisor, you are also able to rent it, it will cost you $149 per month to rent. There is also a free version of the expert advisor available, but it will come with some limitations, we are not fully clear on what these limitations are.

Conclusion

There are currently 38 different user reviews for Open Lock, they are giving it an overall rating of 4 out of 5 stars.

“Dangerous grid EA with no stop loss! With the big drop of EU my account is blown!” – A 1-star review.

“Open Lock Evolution: Was ok, then better, then good, then really good, then great, then mindblowing and now finally we are approaching: WORLDCLASS Thank you Sergey!!” – A 5-star review.

“Recent versions have improved over older versions (I bought when it was $75). I can recommend to others in its present rendition. After I’ve used it for a while (I stopped using it for a while and so I’m still cautious for now while testing) I might raise to 5 stars if no issues. I do think it is better than most of the other recovery EAs I’ve tried but that doesn’t mean I’ve tried all.” – A 4-star review.

So there is a kix of opinions, due to this we would highly recommend that you try pout the free version, this will help give you an understanding of how it works, it will also enable you to make sure that it is functioning properly and whether or not it meets your needs.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/23675

Categories
Forex Service Review

New Horizon EA Review

The NewHorizon expert advisor can currently be found on the MQL marketplace, there may be other expert advisors with similar names so we have provided a link to the expert advisor below. This expert advisor was first released on the 23rd of November 2019, it has since been updated and at the time of writing this review, the most recent version is version 2.5 and that was released on the 27th of February 2020. There are currently 30 activations of this expert advisor, so it is being used by clients.

Overview

This expert advisor has been designed to work with MetaTrader 4. It uses a complex non-linear formula in order to work out entry positions into the markets and an algorithm for fixing the results. The EA uses mandatory take profit and stop loss levels and has safety nets such as not trading when the spreads are larger.

The expert advisor is best used on the GBP/USD, EUR/USD, EUR/GBP, USD/JPY, and USD/CAD.

There are a number of different settings and parameters available to alter in order to change the functionality of the expert advisor to suit your needs, these include things like take profit and stop-loss levels, the maximum risk to use, whether to use trailing stop losses, max slippage, max spreads, and a few others too.

Service Cost

The expert advisor costs $4,750 which is quite a high price, you are also able to rent the expert advisor for 1 year, this will set you back $4,300 per year. There is also a free demo version available. However, we do not know if this has any limitations or time limits attached to it.

Conclusion

There are only 2 reviews for this expert advisor, it has an average score of 3 out of 5 as it has one 5-star review and one 1-star review.

“This is a Great Advisor showing excellent results. Installed on a remote server. My ping ranges from 50 to 100. It works perfectly on the currency pairs specified in the description. I recommend this advisor.” – A 5-star review.

“Crap EA backtests not real, a lot of losing trades with big DD and winners are very small 1-2-3 pips and not enough to cover losses. The developer won’t reply to my complaints now I was able to rent for 1 month after I rented the developer quickly changed min rental time for 1 year and 4 300 USD. The 5-star review you see here is FAKE, this guy gave a 5-star review to many of developers EA’s The developer has 120+ EA’s, all of them with FAKE reviews from same users I ask for a refund !” – A 1-star review.

So here is a mix of opinion, we would suggest using the demo version before making a purchase, just to make sure that it works for you and that you are able to get it set up properly.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/43932

Categories
Forex Service Review

Miser 4 Intraday Trading System (EA) Review

Miser 4 is located within the Experts section of the MQL5 marketplace. It was created by Andrej Nikitin and was uploaded on the 20th of March 2020, it has not had any additional updates so the software is still at version 1.0.

Overview

Miser 4 is an expert advisor that was created to be used with the MetaTrader 4 trading platform, it is an intraday trading EA that aims to make profits on short term price movement. The EA has been optimized to work with specific currency pairs, by default it does not use the martingale strategy but this can be turned on.

There is not a lot of information available about how the EA actually trades, such as its actual strategy which is a shame.

There are a lot of parameters that can be sued to help adjust the functions of the EA, some of these settings include the management of risks such as slippage, trade limits and more, there are also settings for stop losses, take profits, trailing stops, time periods for the indicators, time of days to trade, and more.

https://youtu.be/zyUTT9RI16I

Service Cost

The Miser 4 EA can be purchased with a one-time payment of $376, this will get you up to 5 activations of the EA with no other limitations, there is also the option to rent the EA, this can be done over a period of six months, this will cost you $250 to do so. There is a free demo account that can be sued with the MT4 strategy tester rather than on a live account.

Conclusion

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

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47366

Categories
Forex Service Review

King of EUR/USD Expert Advisor Review

KING of EURUSD can be found on the MQL5 marketplace under the Experts section, it was uploaded by its creator Shang Qian Du on the 14th of March 2020, it received its most recent update on the 16th of March 2020 and is currently at version 2.7.

Overview

The King of EURUSD is an expert advisor that can be used within the MetaTrader 4 trading platform, as the name suggests, the EA only works with the EURUSD currency pair.

The page doesn’t actually state how the EA works, or how it manages to find its trades, the only information available is that it will keep the transaction volumes low, it has some automated risk management built-in and a number of settings that can be altered.

In regards tot he parameters that are available, they include things like the automatic risk control mode, the risk percentages, fixed lot sizes, magic numbers for buys and sells, stop losses, take profits, and trailing stop distances.

Service Cost

At the time of writing the expert advisor will cost you $535 as a one-off payment which is rather expensive. This is a one-off payment and will give you up to 5 activations, there is not currently an option to rent it so the one-off payment is the only option at this time.

There is a free demo version available, however, due to the lack of information surrounding it, we suspect that it may only be used with the strategy tester within MetaTrader 4.

Conclusion

There is only one review and comment which is accusing the creator of trying to scam people.

Hello, where are the bad reviews of your MT5 version, please explain this? You take out that EA for MT5 and make new again and all the reviews are away. I must honestly say this smells like scams. It is also unbelievable that MQL is working on this. Will the EA still check here !!” – A comment from Albert Kuipers.

The comment is a worrying one, stating that the developer has been creating EAs, uploading them, getting bad reviews, and then uploading again as a new EA, so a great practice to see. Due to the uncertainty within the EA and its developer we would suggest not using this EA for the time being until more information comes to light.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47274

Update: Shortly after writing this review, the creator of the EA appears to have been debarred from selling products on the MQL5 marketplace. However, the EA seems to still be available for purchase. Proceed with caution.

Categories
Forex Service Review

Halo M15 Automated Expert Advisor Review

Halo M15 can be found within the Experts section of the MQL5 marketplace, it was first uploaded to the marketplace on the 21st of March 2020 by its creator Raphael Schwietering. There have not been any updates since being updated so the software is still at version 1.0.

Overview

Halo M15 is an expert advisor that was created to be used with the MetaTrader 4 trading platform. The EA has been optimized to work with the EURUSD currency pair on the M15 timeframe. It uses complex algorithms along with some other indicators to work out its entry and exit points. It works with bar close only, it does not actually give any more information on its actual trading strategy.

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

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

Service Cost

The expert advisor will cost you $499 to purchase it outright, this is a one-time payment that will get you up to 50 activations. There are also a few rental options available, it can be rented for a three month period which will cost $199, for six months it will cost $299 and for a year it will cost $399. There is also a free demo version, but this is limited to be ing used with the strategy tester within the MT4 trading platform and cannot be used on a live account.

Conclusion

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

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47490

Categories
Forex Service Review

Enter Use Fibonaci EA Review

Enter Use Fibonacci can be found within the MQL5 marketplace, it was first uploaded to the marketplace on the 22nd of March 2020 by its creator Chaiya Srisawat, it received an update on the same date that it was uploaded and is currently at version 1.10.

Overview

Enter Use Fibonacci is an expert advisor that can be used with the MetaTrader 4 trading platform, its main purpose is to use Fibonacci levels to work out the current market conditions. It will wait for the price to reverse to the desired levels in line with the Fibonacci levels. The EA will use ZigZag indicators to help calculate the high and low points which are then used to create the Fibonacci levels.

The parameters of the EA adjust themselves automatically but are limited to the H4 timeframe and D1 timeframes only. When the price is closed above or below the LevelforOpen, the EA will open an order in the opposite direction to the trend, it will also create stop loss and take profit levels

There are some parameters that come with the EA, these include magic numbers, lot sizes, risk management settings, Fibonacci settings, line colors, level colors, and more.

Service Cost

The Enter Use Fibonacci can be purchased with a single payment of $40, this will get you up to 5 activations of the software with no further limitations. Unlike many EAs on the MQL5 marketplace, there is no option to rent the EA, there is a free demo version available, but this can only be used with the strategy tester within the MT4 platform.

Conclusion

There are no reviews or ratings available for his expert advisor which makes it quite hard to work out whether people are finding it useful or profitable, there are also no comments available which also makes it hard to know whether the developer is still providing active support. Due to both of these reasons, we would suggest contacting the developer with any queries that you may have, this is a way to make sure that the EA will function how you need it to, and as a way to find out whether the developer is still around to offer support for those that purchase the EA.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47506

Categories
Forex Service Review

Donchian Safe FX EA Review

Donchian Safe EA can be found on the JMQL5 marketplace under the Experts category. It was uploaded by its creator Ciprian Ghebanoaei on the 24th of December 2019, it has had its most recent update on the 30th of AMrch 20202 and is currently at version 2.0.

Overview

Donchian Safe EA is an expert advisor that was designed for the MetaTrader 4 trading platform. It has been created as an automated EA that is based on the Donchian Channel indicator.

In order to enter the market, the following must occur:

Long Entry: Donchian Channel
The bar opens above Upper Band after opening below it.

Long Exit:
RVI changes its direction upward

Short Entry: Donchian Channel
The bar opens above Upper Band after opening below it

Short Exit:
RVI changes its direction downward.

It is recommended that you have a balance of at least 500 USD and that you use it on the EURUSD pair within the M15 timeframe.

Service Cost

The expert advisor will currently cost you $49 to purchase it outright, this will get you up to 15 activations with no additional limitations. There is also the option to rent the EA, this will cost you $10 for a three month period. A free demo version is also available, this is limited to be ing used with the MetaTrader 4 strategy tester and cannot be used on live accounts.

Conclusion

Unfortunately, there aren’t any reviews or ratings for the EA, this means that it is hard for us to know how it is performing for those that have purchased it and whether or not it does, in fact, do hat it is meant to do. There is a comment which has had a reply from the developer so they are still supporting it, we would suggest sending your own queries to the developer so you can make sure that it is the right EA for you before you make a purchase or a rental.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/44766

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Forex Service Review

Blazar Automated EA Review

Blazer is an expert advisor that can currently be bought or rented from the MQL5 marketplace. We have provided a link to the expert advisor below so you can see exactly which expert advisor we are talking about and so it is not confused with any other similar names ones. The current version of this expert advisor is version 2.19 which was last updated on the 26th of February 2020, it was originally released back on the 7th of October 2017.

Overview

The Blazer expert advisor has been designed to work with the MetaTrader 4 trading platform, it is a fully automated trading system that can be used on the EURUSD, GBPUSD, and USDJPY pairs on the M5 timeframe. The expert advisor uses price action in order to make its trades.

The expert advisor can be used in 2 different modes, these are normal mode where 1 signal means 1 trade, there is no martingale, grid or hedging. The recovery mode will cause the EA to try and recover faster by opening multiple positions in order to try and average out the trades and close.

Some of the main features of Blazar are:

  • Stable growth curve as a result of a high percentage of winning trades
  • Stress-tested on all available history, six-month live signal
  • Automatic GMT adjustment
  • The minimum deposit: $50 for Normal Mode and $300 for Recovery Mode
  • Easy setup and use

There are also a number of different setting sand parameters that can be changed including the starting lot size, whether it should automatically increase lot sizes, maximum slippage, maximum spreads, maximum positions, average step for the grid, and many more.

Service Cost

The expert advisor currently costs $349 to purchase outright, it can also be rented which will cost you $99 for a 3-month rental or $149 for a 6-month rental. The 1-month rental has recently been removed due to competitors giving low review scores (according to he Blazer creator). There is also a free version available, but we do not know what the limitations are of this free version.

Conclusion

There are 21 reviews in total for this expert advisor, the overall rating is currently sat at 4 our of 5 stars. The creator os the Blazer expert advisor states that the 1-star reviews are from his competitors, but we cannot know this for sure.

The EA works well on my account, bringing stable profit. One of the few EAs at the Market with stable live results. Use it on EURUSD, results are the best there. I prefer to use conservative risks, not that high as on the developer’s account. Forex is a risky business on itself, having low risks is necessary to succeed in the long term.” – A 5-star review.

The EA works well so far, but it trades extremely tiny 5pip profits at a big risk. Don’t like it” – A 2-star review.

This is a very good expert adviser. I have run a ten year backtest with it and the results are impressive.” – A 5-star review.

The majority of the reviews are very positive, the majority of negative reviews are more aimed at the creator rather than the expert advisor itself, we would, however, recommend using the free version initially, just to make sure that it does in fact function the way that you need it to.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/37795

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Forex Service Review

BF Scalper EA Review

BF Scalper EA is currently located within the MQL5 marketplace, it was created by Lachezar Krastev and was first uploaded to the site on the 23rd of April 2018, it has had a number of updates, the most recent updates were on the 8th of October 2019 and this brought the EA up to version 1.7.

Overview

BF Scalper EA is an expert advisor that can be used with the MetaTrader 4 trading platform, its main purpose is to offer a simple yet effective EA that will use breakouts of the Bollinger Bands for its entry and exit signals.

The EA will set take profit and stop loss levels, it is best used on the M15 timeframe and with the GBP/USD, EUR/USD, EUR/CHF, EUR/AUD, GBP/CAD, USD/CAD, USD/CHF, and USD/JPY currency pairs.

The EA comes with a number of different parameters, these can be altered and doing so will slightly change the way that the EA functions. Some of the options include whether to use stealth mode, minimum equity, the band period, the entry and exit criteria, whether to use the tend filter, time restrictions, maximum negative swap filters, maximum spreads, and many more.

Service Cost

The BG Scalper EA is completely free to download, you will get unlimited access to the software completely free of charge. As there is no cost, there is also no need for a free demo version, so this is not available.

Conclusion

The BF Scalper EA has a lot of reviews, there are currently 77 user reviews which have given it an overall rating of 4 out of 5.

I have been using BF Scalper EA for one week now on a demo account. Very good and profitable results. The author is also very quick to help and assist!! I will update in a month again and will start in real account in the near future if results maintain.” – A 5-star review.

Very good EA thanks a lot. Update: profits and losses are equal.” – A 3-star review.

Very impressive and complete EA, I have been testing it for a while now and I can say that the results (on real account) are very good. Definitely one of the best free EA I have ever seen. From my observations, the broker selection is very important for the proper functioning of the EA. The support from the developer is quick and accurate. I keep testing and will provide further updates on the results.” – A 5-star review.

As you can see, the majority of the reviews are very positive, those that are less than ideal show that the EA still functions, just the results aren’t quite as good as predicted. There are also over 700 comments for the EA, these are from people who have purchased the EA and Lachezar the developer has been replying to each one, the most recent comments and replies are from the day before writing this review, which shows that the developer is still very much active and offering a great level of support for their customers.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/28919

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Forex Service Review

Idea Pro Forex EA Review

The Idea Pro expert advisor can currently be found on the MQL5 trading platform, to help avoid any confusion as to which expert advisor we are talking about we have provided a link to it below. The expert advisor was originally released on the 21st of December 2019, it has last been updated on the 3rd of March 2020 and is currently sat at version 5.0 (at the time of writing this review).

Overview

Not a lot of information is provided about this expert advisor, it has been designed to work with MetaTrader 4. It is a fully automated expert advisor, it contains three different strategies which are based on the Stochastic, RSI, and MA indicators, the average can also be used.

There are a number of different settings that come with the expert advisor which allows you to alter the way that it works to suit your own style of trading. Some of the options available include a choice of trading strategy, starting lot sizes, whether to trade buys or sells (or both), whether to use money management, take profits, stop losses, grid sizes, trailing stop losses, maximum lot sizes, maximum spreads, and more.

There is also a link to a live account which shows that it has currently made around 13,715% profits since the time it started, starting with $1,000 now with a profit of $57,226.53. These numbers should be taken with a grain of salt as the signal has only been running for 2 weeks, so these sorts of results are a little too good to be true.

Service Cost

The expert advisor currently costs $35 to purchase, there isn’t a way to rent this one so only the $35 fee to buy outright is available. There is a free version available to allow you to test it out, but we do not know if there are any added limitations or time limits on the use of the free version.

Conclusion

There are currently 66 reviews for this expert advisor, the average score is currently sat at 4.5/5 stars which is a pretty good score.

Excellent adviser! For a week of use, thanks to the recommendations of Vasily in telegram, I made a profit. Thank you very much! 5+” – A 5-star review.

The controls don’t work .. When you press buy … Still raising orders on sell when you decrease opening order still place orders .. You may get lucky for 2 days and give a 5 star wait till you run it for a week.. Martingale .. BAD >>> Check it out on Telegram .. how many are losing running on RED.” – A 1-star review.

Very Good EA, also a very helpful author. Good daily instructions! That combination makes this almost the holy grail. Withdraw your profits daily / weekly in case of unseen market movements.” – A 5-star review.

So there is a mix of reviews in there, but the vast majority are very positive. As always we would recommend trying out the free version before making a full purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/44709

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Categorie services test Forex Service Review Forex Services Reviews-2

Grid King EA Review

Grid King can be found within the Experts section of the MQL5 marketplace, there may be other expert advisors with similar names, so we have provided a link below to the one that we are looking at. Grid King was uploaded by Wim Schrynemakers who is the creator, it was first uploaded on the 10th of November 2018, there have been a number of updates, the most recent update was on the 19th of March 2020 and this brought he, expert advisor, up to version 8.90.

Overview

The Grid King is an expert advisor designed to be used with MetaTrader 4, it does what its name suggests, it is a grid system expert advisor. The expert advisor has been optimized for 19 currency pairs, and its main focus was safety, the expert advisor tries to remove the margin call risk that many grid systems suffer from through a hedging strategy.

Some of the key features of this expert advisor:

  • Minimum recommended starting capital: 500$ (using cent account)
  • Very stable growth curve as a result of smart averaging techniques
  • “Safety First” approach in the development
  • Optimizable for any market
  • ONLY grid-system on the market that passes 18 years of stress-tests on historical        data on multiple pairs
  • Fully automatic
  • Not sensitive to spread, commission, or account type, but of course a low spread          ECN broker will work better and is recommended!

Optimized pairs: EURUSD, GBPUSD, USDCAD, USDCHF, USDJPY, EURJPY, GBPJPY, AUDUSD, NZDUSD, EURAUD, EURCAD, EURGBP, AUDNZD, EURCHF, AUDCAD, AUDJPY, GBPCHF, AUDCHF, CHFJPY, CADJPY, CADCHF, GBPCAD, NZDCAD, NZDJPY, NZDCHF, GBPNZD, EURNZD, GBPAUD, and XAUUSD.

You can use the same magic numbers on different pairs. But the 2 different strategies must use 2 different magic numbers. There is also a large number of parameters that can be changed, there is full documentation available around these, you should be able to optimize the expert advisor to match your exact needs.

Service Cost

The Grid King is quite an expensive expert advisor, it will currently cost you $500 to purchase, this will give you unlimited access to the expert advisor. TIf you do not want to spend that much at once, you are also able to rent it, you can rent it on a monthly basis which will cost you $250 per month, you can also rent it for three months for $350 or for six months which will cost you $450. There is also a free demo version available, this will have some limitations and we believe that it can only be used on a demo trading account.

There is also a budget lite version of this expert advisor which costs a little less but also has fewer features.

Conclusion

The Grid King has 42 reviews, the overall rating from these reviews is 4 out of 5 which is not a bad score at all.

The Grid King is about risk management Grid with Martingale EA. Noe of EA has this level of defensive system. The author is one of very few honest challenger. Be realistic and patient.“ – A 5-star review.

Been running GK since 4th April on ECN and Cent account. Decent profit, stable, really good EA. (5*) update 2019-May-27: Grid King hit 2 stop-losses with trailing TP, still in profit (but not much), stable. (5*) update 2020-Mar-18: Stopped because of too many SL for me. The account did not wipe, but I have stop using all grid strategies altogether, not just GK.” – A 2-star review.

Although I had a stop out (EURAUD) after a couple of days of use (something that can always happen) I still believe this is (to my knowledge) the only martingale EA to go with. Clear (and acceptable) stop-out levels combined with a multi-currency approach. Great support and frequent updates that makes the EA getting better and better. At this moment I run all (15) the currencies on the “very conservative “lot size step” risk factor. After a couple of months, I hope to switch to the conservative setup.” – A 5-star review.

So there is a mix of reviews, many positive ones but there are also some negative ones in there, due to the nature of the expert advisor there will be people using settings that are too risky which can cause the expert advisor to blow an account. There are a lot of comments, the creator of the expert advisor seems to be responding to them all promptly which is a positive sign. Due to the cost of the expert advisor, we would highly recommend that you download the free version, this will only be usable on a demo account but it will give you a good way to test out the expert advisor, to make sure it is safe for you and that it does actually function properly prior to making a large purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/33065

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Forex Services Reviews-2

Dark Knight Expert Advisor Review

Dark Knight was created by Norbert Mereg and was first uploaded to the MQL5 marketplace on the 17th of April 2014. It has received a lot of updates since it was first uploaded, the most recent update was on the 2nd of December 2014 and the software is currently at version 2.44.

Overview

Dark Knight is an expert advisor for the MetaTrader 4 trading platform, it was designed to follow trends that have backtesting profitability of 99%. It is recommended to use with the EURUSD and USDCHF pairs and on the M15 timeframe, it does not require an ECN account but it is still recommended.

Some of the main features of the EA:

  • Built-in Trailing Stop with a partial closing feature.
  • Built-in Money Management.
  • Unique two-level trend filter feature.
  • Protection against a high level of spread.
  • ECN broker with 4 and 5 digits compatibility.
  • The notification could be sent upon closing a position.
  • Slippage data recording to file.
  • Full-scale, detailed logging.
  • Minimum account requirements: $100 with 1:100 (or equal currency).
  • Full backtest-compatible can be heavily optimized.
  • Non-grid system!

There are some parameters, unfortunately, the site that lists them is currently not working anymore so we do not know what they are.

Service Cost

The Dark Knight expert advisor will cost you $49 to purchase it outright with a one-off payment, this will get you up to 5 activations of the EA. There is also a rental option, this can be done monthly and will cost you $10 per month. A free demo version is also available but the limitations of it are not known and no stated on the site, so there is a possibility that it can only be used with the strategy tester within MT4.

Conclusion

There are currently 2 reviews for the Dark Knight EA, they have given it an overall rating of 3.5 out of 5.

I took it twice for rent. The adviser as for me merges more than earns. I also tried to help him with my hands but it did not work out. There is no stability. Although the idea is not bad.” – A 2-star review translated from Russian.

Very good expert advisor. Real performance exactly as backtested results. Running on Alpari (Russian)” – A 5-star review.

So a mix of reviews, however, it is hard to get the full picture with only two reviews being available. There are a few comments, all comments are from as far back as 2016 so it cannot be used as proof of support, due to them being so far back we would suggest trying to contact the developer with any queries that you have, this will enable you to check that it is still being supported and that it will work the way you need it to work before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/4019

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Forex Services Reviews-2

Complete Scalper EA Review

Complete Scalper was uploaded by Pavel Yakovlev to the MQL5 marketplace under the category of Experts. It was first uploaded on the 10th of March 2017, it has had a number of updates and was more recently updated on the 25th of August 2017 and is currently at version 1.18.

Overview

Complete Scalper is an expert advisor that has been created for the MetaTrader 4 trading platform, its main method of trading is to combine a number of strategies including Yogi EA, Scalper GBP, and Cross Scalper. The EA does not perform hedging, martingale, grid, arbitrage or any other strategy like that.

Some advantages of using the expert advisor:

  • Trading strategy for two new pairs – USDCHF and USDCAD.
  • High-risk diversification. The EA can work on 11 currency pairs, which allows reducing the risks in the long term.
  • It is a good deal. You get three Expert Advisors and two new pairs for trading at an affordable price.

There are a number of parameters that can be altered, these include things like commentary, magic numbers, pairs to use, whether to trade on Fridays, timeshift, stop losses, take profits, news filters, closing time, fixed lots, risk factor, and more.

There are also some recommendations from the developer:

Timeframe: M15.

Currency pairs: EURAUD, AUDCAD, EURCAD, EURCHF, EURGBP, GBPAUD, GBPCAD, GBPCHF, GBPUSD, USDCAD and USDCHF.

Account type: for best results, use an account with market execution of orders and low spread.

Risk: specified in the “Risk level” parameter. It can be changed by the user.

Service Cost

Complete Scalper can be purchased for $199 which will allow you to activate the EA up to 10 times. It can also be rented for a period of three months which will cost you $10 for that three month period.

There is a free demo available, there is no information about the limitations of the free version, however, we believe that it may only be used within the strategy tester of MetaTrader 4.

Conclusion

There are five user reviews for Complete Scalper, they have given the EA an overall rating of 3.5 out of 5.

The EA works well on Pepperstone ECN and RoboFX ECN, you just have to be patient as it’s not an instant profit making machine and there will be some stop loses, but give it time and a few months is enough to see that ii does actually work and make good money (as the backtests show). I use a medium/conservative money management risk on all pairs. I’ve just extended my rent to evaluate over another 3 months as it’s going well so far on both accounts. This is a very good long term profitable night scalping EA. A+” – A 5-star review.

2018 April 2: Seller is not available. Questions are not answered. Up to now only loser trades. 1 star, 2018 May 6: Seller is still not available. Some winners, some losers. Overall small profit. 2 stars, 2018 June 29: no profit“ – A 1-star review.

There is a mix of reviews, the main downside seems to be the lack of support, looking at the comment section, it seems that the developer has not been responding to them either which is a little concerning to see. For those that the EA works, it seems to be working well, but if you come across any issues it seems that it can be quite hard to get any support. We would advise that you try and contact the creator before purchasing, as you need to know that they are around should anything go wrong.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/21607

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Forex Services Reviews-2

Happy Sun Forex EA Review

Happy Sun EA is an expert advisor from the MQL5 marketplace, we have provided a link to it below just in case there are any other expert advisors with similar names. The expert advisor was first uploaded to the MQL5 marketplace as version 3.5 by its creator Sergey Belov on the 14th of November 2019, it has not had any further updates after the initial upload.

Overview

The Happy Sun EA is an expert advisor for the MetaTrader 4 trading platform, it uses the breakout strategy when opening orders. All trading will be done through the use of pending orders and entry points are located at the minimums and maximums unless excluded by filters.

The expert advisor is optimized to be used with the EURUSD pair you should also have leverage levels of at least 1:500. It is also recommended that you have a deposit of at least $2,000.

Plenty of parameters are available to change, some of them include the risk, fixed lot sizes, whether to stop on Fridays, take profit levels, the depth of search, min delta, min order interval, maximum orders, lot multipliers, slippage, text colors, magic numbers and more.

Service Cost

The expert advisor will cost you $60 to purchase it outright, unlike many experts on the MQL5 marketplace there is no option to rent it so purchasing it outright is the only option available. There is also a free demo version, but the details and limitations of that version are not known and not stated on the website. It could be worth downloading to try out though.

Conclusion

The Happy Sun EA currently has 7 reviews which give it an overall rating of 3.5 out of 5.

No new posts from the author. Went missing in action from consistent posts in comments to 0 posts in comments. Not showing any forward guidance to users in such a way leaves a distaste in my mouth. It blows your account. It’s a breakout system that does work on 5mins charts. But forward live tests, results are otherwise.” – A 1-star review.

I have been running on a live cents account with a balance of 30 000 cents. 10.33 % increase in 6 days with low DD. Very happy! Quick response from Sergey with set files. Get this while it’s cheap! Very underpriced.” – A 5-star review.

It showed promise in the beginning, but MC occurred in the short Demo test I conducted. Even the developer’s official monitoring account MCd today. Needs improvement to prevent growing drawdown and MC risk.“ – A 2-star review.

There is a mix of reviews, some good and some bad, one of the revies is about the developer going missing, however, he has commented on the expert advisor a few days before writing this review so he is still around, we would suggest trying out the free version before making a purchase, just to make sure it is the right expert advisor for you.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/42593

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Forex Services Reviews-2

Gap Professional EA Review

Gap Professional can be found within the Experts section of the MQL5 marketplace, it was first uploaded to the marketplace on the 4th of March 2020 by its developer Vadim Zotov. It has since received an update, the latest update was on the 23rd of March 2020 and is currently at version 1.2.

Overview

Gap Professional is an expert advisor that was created for MT4, it is based around patterns of closing gaps in price movements and requires a minimum account balance of just $10.

The EA will look for movements in currencies and the gaps which are created due to high movements or pauses in the markets like the weekends. The robot will try to trade these gaps and the large jumps in prices that come with them.

Some recommendations from the developer:

-The robot can be used to trade on any accounts. Preferred accounts with 5-digit quotes, low spread, and high speed. The leverage of the account is preferably not less than 1:500.

-Optimization overtime is not required if market parameters do not change. However, when switching to other brokers, especially with an increase in the spread, optimization may be necessary.

-New set-files will be posted here on the ‘Comments’ page (see link below).

There are plenty of options available too, these include comments, magic numbers, language, which days to trade, maximum spreads, size of the gap allowed, the coefficient of taking profits, tick criterion, lot selection, fixed lots, stop losses, and many more.

Service Cost

The Gap Professional EA can be purchased for $250, this will get you up to 10 activations, there are also options to rent the EA, you can do this on a monthly basis which will cost you $150 per month, you can also rent it for three months which will cost you $200 for that time period.

A free demo version is also present, there are no details about it such as its limitations, so we do not know what they are or how the free version will function. There is a good chance that it can only be sued with the strategy tester within MT4.

Conclusion

There are currently four reviews available for the Gap Professional EA which have given it an overall rating of 5 out of 5.

I love this Idea, was looking this for while !” – A 5-star review.

I like this robot because the strategy it uses is based on crowd psychology and is always true no matter how the market changes. After a trial period, I decided to buy it to use with my real account and received very enthusiastic support from Vadim. I will continue to update the effectiveness of this EA.“ – A 5-star review.

The reviews are all very positive which is good to see, there are also some comments, all of them are from the developer, the last one was in 2020 so this shows that they are still active in supporting the expert advisor. As there aren’t many reviews or comments, you could always contact the developer before purchasing just to make sure that it will do what you need it to do.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/46687

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Forex Services Reviews-2

EA Volcano Review

EA Volcano is currently located within the Expert section of the MQL5 marketplace, it was developed by Oleg Pavlenko and was first uploaded to the marketplace on the 6th of March 2020, it received its most recent update on the 5th of April 2020 and is currently at version 2.4. This EA can be accessed at https://www.mql5.com/en/market/product/47006

Overview

EA Volcano as the name suggests is an expert advisor that can be used with the MetaTrader 4 trading platform, it was designed as an EA that will enter into the markets during trends by using built-in trend indicators. The description indicates that the EA does not use some of the riskier strategies such as martingale or grid strategies. It will close out trades using take profits or when the trend reverses.

When adding the EA to the chart, it will add two new panels onto the chart window which can be used for opening and closing orders, the two panels can help you to trade manually, semi-automatically, or to help the EA with drawdowns by hedging positions.

The EA was developed to work with the EURUSD currency pair and on the H1, H4 or D1 timeframes, this is what it has been optimized for but it can still work with other currency pairs, it just may not be quite as effective. It is also recommended to have a balance of at least $100 and leverage from 1:500.

There are also plenty of parameters and settings available, these can be changed to alter the way that the EA functions. Some of the available options include the language used, maximum spread, maximum slippage, to use notifications, which timeframes to use, the moving averages method to use, take profit and stop loss levels, whether to use fixed lots, the maximum number of open orders or trades, trailing stops, colors, fonts, and man more options are available.

Service Cost

The EA can be purchased outright for the cost of $50, this is a single payment that allows you to activate the Ea up to 5 times. Unlike many of the other EAs on the MQL5 marketplace, there is no option to rent this EA so purchasing it is the only option available. There is a free demo version available, but this can only be sued with the strategy tester within the MT5 platform and not on a live account.

Conclusion

The EA Volcano currently has 5 user reviews which gave given it an overall rating of 5 out of 5.

Very very good EA and Oleg have strong patience and assistance!” – A 5-star review.

I just bought it, in the tests very well, we will see now live” – A 5-star review.

Excelente EA , recomendado.” – A 5-star review.

So the reviews are all very positive which is a great sign that it is performing how it was described. The comments within the reviews also speak about the good support being offered by the developer, this is reiterated within the comments section of the site as there are plenty of comments that the creator has been replying to promptly, again, another great sign as to the sort of support that you will receive should you decide to purchase this EA.

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Forex Services Reviews-2

Be the Best Forex EA Review

BeTheBest is an expert advisor that can be found on the MQL5 marketplace, there is a link to it below so you can see exactly which expert advisor we are looking at.

https://www.mql5.com/en/market/product/42933

Nauris Zukas the creator first uploaded this expert advisor on the 24th of October 2019, it has been updated a few times, the most recent update was on the 10th of March 2020 and this brought the expert advisor up to version 4.0.

Overview

BeTheBest is an expert advisor that can be sued with the MetaTrader 4 trading platform. The expert advisor is based on an indicator called the TrendImprovement Pro indicator, the expert adviser was designed to use this indicator and to make it into an automated trading system.

There are two ways to use the expert adviser:

AutoSettings = true – in this mode, the expert is prepared to work on a 1-hour chart (1H). In this mode, any parameter changes will not affect results. The expert opens positions only at the beginning of the 1H bar. Charts above 1H will not give correct results, because if a signal from the indicator appears, the expert will wait for a new bar to open positions.

AutoSettings = false – allows you to work with your own parameters on any chart.

There are a whole host of settings available that can alter the way that the expert advisor works, some of these include the maximum number of history bars, the averaging period, the RSI averaging period, loss rate percentage, price action filter, maximum lot size, risk value in lots, magic number identifiers, and more.

Service Cost

The expert advisor will cost you $399 to purchase, it is quite expensive but once purchased you will have access to it indefinitely. If you do not want to purchase it, there is also an option to rent it, you can rent it for one year which will cost you $199. There is a free demo version available. However these free versions often have a limitation added to them, but the website does not indicate what the limitations could be.

Conclusion

There is just one review available which has given the expert advisor a 5-star review.

Update: 12-Jan-20, One month and my live account in profit by about 30%. Thank you! Good backtest results.

As there is just the one review available, we would highly recommend that you download and test out the free version, this will give you a better understanding of the way the expert advisor works, but will also ensure that you are able to get it up and running properly before making any actual purchases.

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Forex Services Reviews-2

Devilfish Version 1.8 Forex EA Review

The Devilfish EA is an expert advisor that can be found on the MQL5 store, we have linked it below just so there is no confusion with any other expert advisors with a similar name.

https://www.mql5.com/en/market/product/43169

The current version of this expert advisor is version 1.7 and was last updated on the 28th of February, 2020.

Overview

The Devilfish expert advisor has been designed to work with MetaTrader 5, and so currently only works with that single trading platform. It is designed to work with high levels of volatility, but there isn’t much more information being provided about the expert advisor.

The features and requirements of the Devilfish EA have been listed below:

  • Minimum account deposit: $ 150
  • No configuration required
  • Accounts: Netting, Hedging
  • Currency pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD, USDJPY
  • It works on hourly bars, not demanding on the quality of Internet connection
  • Works in the strategy tester in the “open prices only” mode
  • It does not use super short trades (Scalping)
  • It does not use martingale or averaging

Service Cost

The full price of this expert advisor is $54, you are also able to rent it which will cost you $20 per month. There is also a demo version available, however, there are some limitations to the account t such as not opening up trades on a Wednesday, there is also a profitability decrease of 20% compared to the full version.

Conclusion

There are a few different reviews available on the site, some positive and some negative.

I don’t know why some people post great reviews but not post the real trades, I’m using more than one month, but has not good performance, I understand the volatility but the EA is not performing, usually Mikhail takes a lot of time to answer too” – That is a one-star review.

Great job very good recommend”. – A 5-star review

This week on USDJPY trade, the profit was USD 100+, why it does not close the order? Now from 100+ to losing position. I backtested from 03-03-2020 and the result was very good and all orders closed. But my real result now got 4 open orders all losses for many days already. What’s wrong?”. – Another one-star review.

So there are very mixed reviews, we would suggest testing out the demo to see how it functions before purchasing the full product.

Categories
Forex Services Reviews-2

FirstShot Forex EA Review

FirstShot was uploaded by Evgeniy Zhdan to the MQL5 marketplace, it was first uploaded on the 29th of January 2018 and was subsequently updated on the 18th of February 2020 and is currently at version 2.2.

Overview

The FirstShot expert advisor can be used with the MetaTrader 4 trading platform, it was designed as a trend scalper, the EA will not use martingale strategy. The strategy behind the EA will look at the volatility level changes within the markets over certain periods of time, it will look for times when there has been an unusual amount of movement and will then begin trading.

There are a few recommended timeframes and pairs:

  • GBPUSD on the M5 timeframe
  • EURUSD on the M5 timeframe
  • USDJPY on the M5 timeframe
  • Gold on the M5 timeframe

In terms of parameters, there are a few available to alter, they include things like the commend on orders, maximum risk, maximum orders, take profits, take losses, MA periods, to enable trailing stop,s the step of the trailing stop, max spreads, max slippage, magic numbers, and more.

Service Cost

The expert advisor can be a little expensive, it will currently cost you $950 to purchase it outright, giving you unlimited access. Many more expensive pieces of software on the MQL5 marketplace often have an option to rent it, but this option is not available with the FirstShot expert advisor.

There is a free demo version, however, the limitations of the free version are not known, it may only be usable on the strategy tester, due to the price of the expert advisor we would recommend downloading and trying out the free version regardless.

Conclusion

There are four reviews available for the FirstShot Expert Advisor, they have given the EA and overall rating of 3 out of 5.

Great Advisor. I bet on Gold, Pound, and Euro. Trading is excellent! Who puts bad reviews? Learn to install advisers))” – A 5-star review.

Great profitable adviser!” – A 5-star review.

Rubbish” – A 1-star review.

So a mix of opinions but not a lot of information to work with, there are also 8 comments, the developer has been replying to a few of them but not all, the most recent comment shave not had any responses which could mean that the developer is no longer supporting it, we would advise you to send any questions you have to the creator if they reply it will mean that they are still supporting it and it will ensure that the expert advisor is right for you, do this before purchasing as it is a relatively expensive EA.

This Forex Indicator is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/27478

Categories
Forex Services Reviews-2

EA Locker Forex Expert Advisor Review

EA Locker can be found within the MQL5 marketplace under the Experts heading. It was created by Vasiliy Strukov and was first uploaded to the marketplace on the 7th of November 2019, it has received a number of updates, the most recent update were on the 11th of December 2019 and this brought the EA up to version 3.0.

Overview

EA Locker was created for the MetaTrader 4 trading platform, its main purpose is to use a unique algorithm to be as stable as possible with any sort of market movement, the aim is to completely close positions in the lock. There isn’t actually any more information given than that.

There are some additional parameters that you are able to alter, these will slightly change the way that the EA functions. Some of the options include whether to open a new series of trades, starting lot sizes, whether to use money management, trailing stop starting pips and step sizes, take profits, stop losses, magic numbers, the percentage for drawdown protection and more.

Service Cost

EA Locker will currently cost you $45 to purchase outright, this comes with up to 5 activations and no further limitations. Unlike many EAs on the MQL5 marketplace, there is no option to rent it so the only way to get it is with the one-off payment.

There is a free demo version, no details around it are given on the site which leads us to believe that it may only be used with the strategy tester within the MetaTrader 4 platform.

Conclusion

There are ten user reviews available, they have given the EA Locker an overall rating of 5 out of 5.

Vasiliy has been very responsive to queries. There are many EA authors out there but not many are as patient and knowledgeable as Vasiliy. Top author. Top product. Definitely 6 stars from me.” – A 5-star review.

As always, great work !!! Thank you Vasily !!! In my opinion, the price for all EA of this master-developer is symbolic !!! With competent settings, it works with dignity, the main thing is not to be greedy !!! I purchased and did not regret all the development of Vasily and I do not regret it !!! I recommend to everyone !!!” – A 5-star review translated from Russian.

Good EA with great return when set up with good risk management setting. ++++ Highly recommend” – A 5-star review.

So all ten reviews ar every positive giving the EA a very high score, there are also a number of comments, the developer has been replying to the majority of them in a prompt manner which shows that they are still there and willing to actively support the expert advisor and those that have purchased it. If you are still unsure, send the developer a message with any questions, this way you can make sure that it is the right EA for you before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/43502