Tag: forex review

Judging by the price of this Expert Advisor designed for the Metatrader 4 platform, one could this is a very popular and reliable product with consistent results. Pirate One is a rather vague automated trading solution made by Anatoliy Lukanin from Russia. The developer has 20 products and 2 signals published in the MQL5 market.

Recently, we have noticed a large number of signals are closed, probably because of catastrophic results caused by March 2020 extremes in volatility. This means the developer has used a single strategy with a few adaptations to generate these signals, eventually breaking down on heavy world events. Pirate One is initially published in November 2018 with few updates related to the functionality and setting options. The latest version is 1.90 from 15th March 2020 that is adapted to the current COVID-19 situation although just with a closing time function.

Overview

The provided overview page does not tell much about this EA. Based on the first header description, Pirate One is a nighttime scalper EA working in low volatility market periods after the US session. Several indicators are integrated for trade entry and filtering while the exit is defined with a Take Profit or a kind of Stop Loss order. According to the author, Martingale and Averaging methods are not used.

Virtual pending orders are optional, these will not leave a trace on the broker servers. Useful for those that suspect Stop Loss hunting by their broker, for example. The EA also supports dynamic trading lot size allocation which increases with successful trading. This strategy may be related to scaling in but there are no more details. Dynamic lot allocation is usually related to volatility adjustments using some of the volatility indicators.

Pirate One is not universal and cannot be traded on every instrument or timeframe. The developer suggests EUR/CHF, EUR/GBP, and GBP/USD or CHF/JPY, EUR/AUD, and USDCAD for testing. Risk Management needs to be strict, overexposure to one currency is never advisable but especially with this EA. There are several reports that the losses are a few times larger than profit trades, which is also confirmed by looking at the performance charts published. Even the developer is not sure the EA will have the expected performance, does not want traders to go with all the currency pairs and to start with minimal trading sizes.

The trading timeframe is fixed to M15, you will need an ECN five-digit broker account, tight spreads are always recommended. Interestingly, this developer has a referral link for the Alpari broker published, which is rare to see. In the Comments section, there is also a bonus banner with a referral link.

Settings for Pirate One are not allowing you to select any trading strategy or indicator. You will have the option to set a fixed trading lot or based on the percentage of funds available. Take Profit can be set to virtual or on the server and the levels for both Stop Loss and Take Profit can be adjusted in points. Filtering in case of wide spreads is defined in the MAX_SPREAD_OPEN clause, for Slippage is also available. Since the EA trades around the day closing time, swaps could be charged (or credited) if traders have overnight positions open.

For this purpose, Pirate One has the Filter Swap options to disable trading or positions, allow or only filter triple swaps. Some way of adjusting how frequently the EA is trading can be defined in the DEALS_ON_THE_BAR clause. This will enable or disable the EA to trade before a bar has closed, multiple times. If Take Profit or Stop Loss is not reached the EA has the mechanism to close that trade on unknown parameters.

The screenshots provided present the EA performance, however, the modeling quality is 90% done in the MT4 Strategy Tester module. This is not enough for scalping EAs such as this one. Still, some conclusions can be made. Pirate One has a very high success rate. On all screenshots, the profit trades percentage is at least 98%. This means there are many small winners and a few big losers, effectively making this EA risky in the long term. Time tested on the screenshots is around 210 days if the EA is applied to the M15 timeframe as suggested. For this time, using a 1000 deposit, Pirate One generated 13532 net profit with 260trades and 35.71 absolute drawdown. Maximal drawdown is 1542.05 although note that the average losing trade amounts -496.31 while profit trade is just 62.8.

The numbers are similar on all screenshots, have a distinctive exponential-like gain curve. Dips are also clear on some, but most of the screens show smooth growth. It is hard to ascertain if these presentations are valid, 90% quality modeling is not enough for scalping EAs, and there is no way to know what settings are used here. In the comments page, the developer attached many screens of the MT4 charts with this EA attached showing a total daily profit, but the actual performance is not confirmed on the benchmark sites such as the Myfxbook. Whatsmore, now that the signals are not available anymore, Pirate One would need testing. A demo is downloaded 793 times, showing low interest in testing it.

Service Cost

Pirate One is above average when it comes to the price, similarly like the rest of Anatoliy Lukanin’s products. For $500 you will have 5 activations and for $100 you will be able to rent it for one month.

Conclusion

Only 4 reviews are published, giving this EA 3.5 stars on average. We have picked one low rated review that has a good short description of what can happen with this EA:

“250 for 3 months…on a real account (SO different from backtesting), default setting: many wins, but when you lose, you lose all the gain, so I have lost money.”

Good reviews mostly come from users who have gained profits and appreciate the Stop Loss function. Note that changing the Stop Loss can greatly change the performance of Pirate One. Since the price Is above most premium EAs with better history, description and presentation is ambiguous, consider this EA only if you have great long term results in backtesting and forward testing on a demo account.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/33037

This is a composite strategy Expert Advisor for the MetaTrader 4 platform with several modules integrated. According to the short description, Price Action, Patterns, and Neural Networks are used in conjunction with the signal generation. The developer of Climber EA is Xuan Nguyen Thanh from Vietnam who has one other scalper EA published on the MQL5 market. Both EAs have their respective signal service too, which means a lot when buying EAs.

There are no updates yet, the initial version was released on 23rd of march 2020 and does not have any attention from the community yet. The Overview page is minimalistic, just a few lines about the EA, and the rest is about the settings range. To some traders, this is enough, with all the signal information, although it is not clear what exactly is the EA doing is unknown. However, the figures on the charts are showing low risk and stable gain.

Overview

Unfortunately, The Climber EA could have more success at the start with a better presentation of the strategies. The Price Action element is probably the automatic Support and Resistance zones plotting and used as a filter not to enter Buy trades close to the Resistance zone and Sell trades close to the Support Zone. Patterns and Neural Network elements are responsible for the trade entry signals. These methods require and are based on past data patterns, and are good as the data stored in them is relevant to the current market conditions.

Recently, the forex and equity markets are having a sharp change in terms of volatility, making new patterns, as COVID-19 is also a new occurrence for the first time in 100 years. How this affects the EA and Neural Networks with past data can be seen in the current signal performance. AI is also stated as capable of learning. If this is correct, we should not see any drastic changes in the new market conditions. Based on the past position management list, we could see most of the trades EA made are coles by the Stop Loss order. This gives us a clue that the exit method is based purely on the Stop Loss. Interestingly, Take Profit is present but it is rarely triggered. Other indicators are not disclosed directly but are used to “balance the price”. This element could be a smoothing MA or a filter based on volatility, however, we could only guess.

At least the developer is transparent with the settings range. The automatic trade size allocation parameter (Auto Compound) and the lot size multiplier (Next Lot Size Multiplier) could implicate the EA uses a sort of Martingale recovery mode. The sharp dips and quick recoveries on the chart equity line cover this assumption. Take Profit is the classic, defined as fixed, in points. Interestingly, the Stop Loss parameter is not available, so we take it the EA uses his internal dynamic Stop Loss placement using the Support and Resistance Zones. Among the settings is also the RSI indicator parameter and it is related only to the RSI period. The RSI is probably used for filtering, signal confirmation, and the S/R Zones. There are no other options so traders will have to rely on these for backtesting, although, a small number of customizable variables are not a bad thing per se.

The Climber EA is very specialized. Its Neural Network data is only optimized for the EUR/USD currency pair and on the H1 timeframe. Whatsmore, the author recommends deposits from $2000 and for best results, $5000. Now, in addition to the already high EA price, you will need at least a few thousands more, creating one more barrier for this EA to breakthrough the MQL5 market. The author uses Tickmill and recommends NordFX broker too, however, the signals provided for his two published EAs do not use these with live accounts. By default settings, The Climber is good to go.

Before we go on to signal performance, we will take a look at the MT4 Strategy Tester backtesting results. For the period of 1 year, from 2018 to January 2019 on the recommended settings, the EA gained 2552 on the 5000 initial balance. Note that the testing period does not cover the latest 2020 events. Out of 3766 trades, 72.74% were successful or closed in profit. The maximal drawdown is 11.99% which is an acceptable level of risk regardless of the sharp dips in the balance graph. The average profit trade is 2.06 against the -3.03 loss. The average winning streak is 5 vs 2 meaning the EA has a solid loss control.

Service Cost

The signal service does not have subscribers yet but it is available for $200 per month. The demo has been downloaded 19 times which is very low, many low-quality products have better attention than this EA and this is probably because of steep requirements and high initial price. This is a composite strategy EA with Neural Networks optimization, meaning the price cannot be in the lower range. You will need $1500 to purchase without the option to rent it. A demo is available of course and you should also try to run the EA on a broker demo account too.

Conclusion

In the live signal results, The Climber EA has been engaged for 75 trading days till now. It made 62 trades per week since the 11th of March 2020. For this time the total growth is 19.30% meaning the new market events did not affect the EA, besides, the gains are better than in 2019. Even more impressive is the Drawdown of just 4.6%. The average results are in line with the MT4 backtesting with more info such as the average position holding time of 11 hours. This could mean you will need to be prepared to have an uninterrupted connection for 24 hours and possibly have swaps charged. Monthly growth is a solid 3.06% with the initial $6000 deposit and one $1000 withdrawal.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47140

Shark is a relatively new Expert Advisor or automated software designed for the MetaTrader 4 platform. It is published on the MQL5 market by Yongzhi Wu from China on 10th December 2019. It has not received any updates yet and is not popular on the scene. Based on the somewhat roughly described Overview page, this EA is a scalper operating on specific currency pairs and timeframes. Even though scalper EAs are popular, this one missed its chance for various reasons. Notably, the developer has only published this product on the market that currently has no success. However, traders will not know how this EA is performing until they test it.

Overview

No specifics are given on the overview page, therefore we can only guess what kind of logic is behind this EA, let alone what indicators. Shark is measuring volatility on the market and seeks to open trades in volatile moments where there is a momentum. Most scalpers will avoid such an environment and choose only night time trading sessions for example. Shark does not use price action or reversal indicators, which also deviates from the classic scalper EA strategy. Using the direction and momentum, the EA aims to gain quick profitable trades and exits once the momentum indicator or indicators sense the momentum loss. According to the authors, this time is from5 seconds to 5 minutes. Note that some brokers will not allow trading in such duration, although they are not competitive. The developer mentions probabilities calculation and that they factor in, but nothing specific. Most of the content is ambiguous.

Recommended currency pairs for the Shark are EUR/USD, GBP/USD, and USD/JPY on the M5 timeframe. The features list is not very well presented, most of the statements are confusing such as “Trading results are visible” or “Suitable for a rapid deposit boost”. These statements are not attractive to anyone on the MQL5 market. Risk Management is present though, which can be seen from the EA settings list also. Note that the EA is using cost averaging strategy, which is considered risky.

Shark performance results are published on the MQL5 stats page. Interestingly the EA has more losing trades – 54.3% but the growth curve is impressive. This means Risk Management is well developed, Maximum Drawdown is 25.4%. From another angle, the trade average profit is $3 533.20 while the average loss is $-1 745.61. The maximum consecutive losses are 25 against 14 profitable ones, but the best consecutive profit is $155 725.10 against $ -99 157.18 loss. The most traded currency pair is the USD/JPY with 3767 trade and the EUR/USD is the second with 470 trades. GBP/USD and others have a marginal number of trades. The trading history is not concealed so you can see a complete history. Note that the account with the above statistics is a demo on Tickmill broker.

Service Cost

A demo version is available and has been downloaded just 48 times. This is a very low number and confirms the market has no interest. One of the reasons is probably the price of $480 with 5 activations. There are no options to rent Shark EA.

Conclusion

Shark is using a Stop Loss order on every trade, but we are unable to understand the exact logic where it is placed except when the fixed amount is set. In the setting panel, you will have the option to change the Magic Number, Stop Loss in pips, minimum and maximum lots for the averaging, Risk percentage, Fixed lots option, and whether to use dynamic Money Management or a fixed lot size. This dynamic Management just increases the trades the balance goes up, it is not volatility based.

Shark EA is a specific averaging strategy EA without enough valid performance data. As for the rating, only one exists in the signal service page coming from this EA with one star. On the actual product page, there are no comments or reviews. Traders simply see Shark as another Martingale averaging EA with promises and ambiguous descriptions to the point it is not even worth testing a demo. Still, since the signal is still open and trading, you may try to see if there is any value to it.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/44315

Prado is a newly released Expert Advisor for the MetaTrader 4 platform from a new developer that has already attracted some users. Prado EA is also developed for the Cent accounts under the name of Prado Micro, without the trade size dynamics function. It is just $5 cheaper so it is probably better to purchase the normal Prado EA. The developer of Prado is Tatyana Kulyapina from Russia with Prado EA as her main and only product published on the MQL5 market.

Prado’s first version is released on the 13th of March 2020, updating the EA with new functions and settings to the latest 2.2 version on the 4th of April. New iterations contain the fixed lot allocation option, spot Gold settings, some bugfixes, control options for the Stop Loss, Take Profit, and other pending orders, spread filter, and additional settings range.

Overview

As we take a look at the settings of the EA, we could say Money Management well developed implying the developer has some experience with trading. There are 4 signals provided with various risk exposures and assets Prado is engaged, giving traders a much-needed insight into how this EA performs. On the other hand, the Overview page will not disclose much about the EA, most of the content is just filled with links to the signals and setting files. Still, we were able to extract some information based on the settings panel.

It is common to see the Russian language used in the Comments section and other pages when dealing with Russian speaking authors, making English a rare sight. Almost all content in the Comments section is like this so you might find it difficult to find some information. Prado’s main strategy is the daily breakouts followed by trailing stops and ATR managed risk exposure. Therefore, it is a slower trading EA with strict Risk Management, adaptive to volatility, with good exit signaling. All this combined draws a well-composed system with good figures in the backtesting charts.

Once the EA is started, it will open Buy Stop and Sell Stop pending orders and the day extremes defined by the ATR or also called ADR (Average Daily Range) if set to the daily timeframe. Once the pending order gets triggered, Stop Loss and Take Profit are placed in with the composite Trailing Stop method trailing the price. Strategies like Martingale, Grid, or Averaging are not used here, Just breakouts on the ATR defined zone. Except for the obvious ATR indicator involvement, others remain undisclosed. One reason could be that the developer is not skilled with a presentation or English, but it could also be to refrain from the scary technical content.

Prado is described as a safe, FIFO compliant, volatility riding EA with a good loss control module. Interestingly, to understand the EA functioning, one could look at the EA thumbnail picture and see all the starting setup and the strategy to follow. After the Q1 2020 volatility jump caused by the COVID-19 in forex, commodity, and other markets, the developer posted a few screenshots of how the EA jumped into the action and resulted in a staggering gain. Still, now it is recommended to increase the minimum deposit to $500 from the initial $100.

The default setting off the shelf is for the USD/JPY currency pair but there is no mention of the optimized timeframe. Settings for the spot Gold can be downloaded from the attached post in the Comments section, the link is provided. For testing purposes, it is recommended to count every tick and set it to the H1 timeframe. It is very likely the EA is most suited for this timeframe, as mentioned in the comments. Prado has a risk setting according to which you will have different backtesting gains. Of course, more risk percentages will result in bigger gains.

In the settings menu, you will have a lot of ambiguous parameters you will not get a feeling for backtesting purposes if you want to change it form the default levels. A few of the parameters are clear though. Risk is the exposure percentage of your balance for each trade, measure probably in Stop Loss distance in pips per dollar. LotFIxS is the classic lot allocation per amount from the account balance. The Stop Loss and Take Profit adjustments are made via the coefficient parameters which are not tangible.

The parameter values are not in pips obviously, so you will have to experiment with these as the formula is not disclosed. Other coefficient related parameters are OpenOrderCoef (2.0) for pending orders placement, the same description is given to the OrderCoefLevel, but this parameter is set to 0 by default. EveningCoef is another parameter affecting evening trading sessions but again, it is defined by the coefficient. TralCoef is the Trailing Stop factor, as well as the BoomCoef and the BoomMinDistCoef.

The coefficient is probably related to the same variable, most likely the ATR indicator, and this could be easily tested by comparing the values to the ATR current level on default settings. TralBoomStep is the classic step Trailing Stop jumping distance. There are other parameters related to the Trailing Stop such as BoomMaxPrc probably related to the price change percentage. This implies the EA is heavy with Risk Management measures as mentioned. Other settings are concerned with the slippage filter, EA working hours and evening tactics, comments plotting, and trade closing time point.

Prado performance is presented by 4 signals, and we will use these “forward” testing performance instead of the MT4 Strategy Tester results screenshots. On the IC Markets broker live account, Prado has gained 22% on the XAU/USD from the 4th of April 2020. This period is too short for any conclusions but the EA made 7 trades. Using the 3% risk scheme, 5 trades were in negative. This means Prado has a very sensitive trade exit, most likely the Trailing Stop. However, the 22% gain is generated by only 2 trades.

The average holding time is 4 hours making 3 trades per week. So entry timing is very careful, picking the right moments on the H1 timeframe. These two trades made a profit of $140.35 against -$73.41 5 losing trades. This caused a 16.7% drawdown which is acceptable for 22% monthly gain and a 3% risk scheme. Prado EA performance on the USD/JPY pair has almost the same gain on 3% and 5% risk. Both testings are on live accounts. The 3% signal shows 17.6% drawdown and 63% gain form the 15th of March 2020. When averaged, the EA made 15.33% per month, 5 trades per week, and 3 hours holding time. Profitable trades are almost on par with the losing ones, again demonstrating a great loss protection mechanism.

Service Cost

Prado price is $150 to buy with 5 activations and the Prado Micro is $145. Interestingly there are no options to rent the EA but the price is not an issue for most traders. The demo has been downloaded 379 times until now showing good attention in its early stage.

Conclusion

Prado has 7 reviews and all are positive, resulting in a perfect 5-star score. One of the more notable reviews reads as follows:

”That’s why I bought the EA: no risky tactics, no martingale, no grid, just pending and win or loss, well-calculated SL and well-calculated trailing stop. And now I’m looking forward to the results!”

Prado EA has a very sound strategy and great Risk management although it is not very friendly for optimization by users. Therefore, for now, it is best to use only the developer published settings files in the Comments section if you do not know how the settings affect the trading.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/45995

This product is from a development group from Russia who has over 90 published products and 5 signals services on the MQL5 market. However, most of these have not received attention from the market. The developer of Project One Day MT4, Ruslan Pishun, has some expertise with coding and trading too. This EA has been published on the MQL5 market right away with version 3.25, on the 28th of March 2020. This could mean is based on an already developed algorithm, there is no updates log.

Overview

The EA strategy seems to be multi-timeframe and multicurrency adaptive, with no disclosed indicators or formulas that make the system. In the Overview page, you will see some basic recommendations, instructions for backtesting in the MT4 Strategy Tester, and the settings range. Even though this EA is developed for the MetaTrader 4, the MT5 version is also published.

As mentioned, the EA has 3 timeframes for analysis, M5, M15, and M30. We assume that once the indicators integrated for trend confirmation are aligned on all 3 timeframes, a trade is placed. The universal nature of the system, where almost all of the major currency pairs are acceptable for the EA, points to a trend following system and in times when the volatility is higher during the day. Project One Day is suitable to work only during the day trading sessions, as stated. Currency pairs recommended are all major combinations except for some USD pairs, making a total of 26. The EA does not use Martingale, Averaging and other strategies considered risky by most traders.

In addition to the 3 timeframe alignment confirmation, advance Stop Loss, Take Profit and Trailing Stop methods are used. Hidden Stop Loss is optional for traders who want to keep their Stop Loss levels hidden from the broker. Some brokers could be using concentrated Stop Loss levels for manipulation, although this practice is hard to prove. Each trade made by Project One Day has a Stop Loss set. How the EA calculates these levels is not disclosed. Break-Even and Trailing Stops are not present in the settings range and therefore not open for adjustment, limiting traders’ ability to customize and optimize the EA to their needs.

Note that Break-Even and Trailing Stop is one of the most effective methods for Risk management and consequently great exit moments if set to optimal levels. It is not disclosed if there are any indicators for position exit signals, they might even be completely replaced with a Trailing Stop. Partial closing and moving to break even is a very effective combination for Risk management. Scaling out at Take Profit level by 50% and leaving the rest to the Trailing Stop is probably what is used in this EA, and the results from the backtest show low drawdown because of this.

In the settings panel, you will not have a few general parameters not related to trading. You can set what currency pairs will be traded. Once you attach the EA to your MT4 chart, it will trade all currency pairs you have enabled in the settings, there is no need to attach it to every chart. Magic Numbers are enabled for this purpose, to manage each trade made by the EA. Five-digit brokers are supported and if they have suffixes for their symbols you will need to enter it in the settings parameter.

The Autolot feature is integrated and has several options. Traders may use the balance percentage for trade sizing or set new calculations for every balance amount defined by the trader. If for some reason you want a fixed lot, it is also offered in the settings. Slippage and Spread filters are offered with the addition of day selection filter, GMT filter adjustment and working time adjustment within each day. All other trading related parameters are locked out.

There are special backtesting settings for the Strategy Tester in MT4 for this EA. They are mentioned on the Overview page and should be used for testing purposes only. The screenshot of the backtesting results done from 2015 to 2020 show 88.7% trade success rate, tenfold gain on 1000 initial balance and just 5.48% Maximal Drawdown. 1841 trades are made for this period meaning the EA carefully waits for the right conditions to align. Average consecutive wins are 8 times greater than losing and the average profit trade is 7.80 versus -12.86 losing trade. Even though the EA has more significant losing trades when they happen, the drawdown does not indicate any risk to the account.

Service Cost

Project One Day MT4 belongs to low to the mid-price range, comparing to other products. You will be able to buy it for $109. To rent it for 1 month – $31, 3 months – $49 and for one year $79. The demo version has been downloaded 40 times and shows good starting interest by the MQL5 community.

Conclusion

Note that the testing is done on 26 pairs simultaneously with Autolot enabled. On the real account signal, the performance is similar. To copy the signal generated by Project One Day the price is $30. The Maximal Drawdown remains low, 8.1% and the success rate is 92.2%. This signal is new, started when the EA was published so it might not be 100% reliable still, it shows similar results from backtesting.

There are no reviews and in the comments section, but the developer has attached more in-depth performance charts. Overall, Project One Day has great Money Management and probably one of the most reliable Risk Management methods that are reflected in the stats. Unfortunately, there are no parameters for any of these, limiting the transparency and more importantly, customization.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47758

Trade Professor is a new Expert Advisor made by an amateur developer who published it on the MQL5 market. The initial version was released on the 16th of March 2020 and does not have any updates yet. A developer is a young man from Nigeria by the name of David Joseph who has a total of 7 products published on the market. None of the EAs have a single review or any comments.

There are several reasons for this, the main one is unconfirmed results, canceled signals, and no details about the EA strategy. By looking at the developer’s comments we are not sure anyone can take him seriously. Trade Professor is an ambiguous EA for MetaTrader 4 with an extremely high price tag. There are no elements that could justify the price and certainly no valid results.

Overview

The Overview page has very little content and just 2 screenshots which do not have important information. Professor EA is specialized for GBP/JPY, GBP/USD, USD/JPY, and EUR/JPY currency pairs and on M5 timeframe. There are other requirements as stated by the developer such as the recommended minimum starting balance of $1000. The volatility is the main factor when it comes down to the initial balance. This is probably due to the extreme drawdown which is not disclosed on any test.

Whatsmore, it is recommended to increase the balance if market conditions turn volatile, such as during the COVID-19 event. This EA has Stop Loss implemented called Account Protect Level in the settings panel and is a fixed type. Interestingly, the developer warns if this level is too shallow, the EA will give unsatisfactory results. Again, it is hard to assess the relation of risk to gains without the drawdown figure. Notably, the EA performed poorly once the COVID-19 outbreak started to affect the markets, according to the developer posts, and the signal generated by this EA is shut down.

The settings panes contain only 4 customizable variables. Some may be confused with the EquityLevel parameter, but this is just a figure where you put your target profit. It does not have any effect on how the EA is trading, it is just a point after the EA will not open new trades. We are not sure if this is just a gimmick sloppily made by the developer or it could have any use. There are two more unexplained parameters called Take Low Trades and Take Low Lots. These are probably related to trade size allocation and the frequency of trade entries although the only options are true and false switches.

Service Cost

The price tag is as ridiculous as the EA presentation, $3200 to purchase, and 4 rental options. For one month you would need $150, for 3 $500, for 6 $750 and one year $1500. A demo is offered if you want to play with this one for any reason, it has been downloaded 17 times.

Conclusion

The screenshot with the backtesting performance in MT4 shows a constant growth without any figures. We can only see it is done on the GBP/JPY on the M5 timeframe. There are no dips that may be contributed to high-risk allowance, however, the testing is conducted for a very short period. Only 45 bars were tested, when converted it means for only 225 minutes, which is abysmal. There are no comments or reviews and probably will not be as the product nor the price is to be taken seriously.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47222

The Trailing Complex EA is not related to independent automated trading but to Trailing Stop Loss management with 9 variants and combinations. The tool is designed for the MetaTrader 4 platform that does not feature such advanced options for trailing. Trailing Stop is one of the most sought out and used elements of trading systems using any strategy. There are many similar tools although this one is very affordable.

Overview

The developer of Trailing Complex is Andrei Fandeev from Moldova, working as a programmer since 1995. He has 11 other products published on the MQL5 market, most of them with a good rating, low price, and specialized. Trailing Complex tool is published in October 2014 and updated recently in 2020, although has not been noticed by the MQL5 community.

It Is hard to think of a trading system that would not benefit from an optimized exit or trailing stop measures. This EA will automate complex conditions and calculations that would take a lot of time to calculate manually, especially if you are trading frequently during a day. Intermediate and advanced traders have at least one such tool, and this one has 9 variants and combination possibility.

The variants are are follows:

1. Balance percentage-based Stop Loss. Most trend following professional traders will use 2% of the balance or equity as the total loss if the Stop Loss gets triggered.
2. Moving Stop Loss to breakeven. This method is also known as the profit lock on – when the Stop Loss is moved to the trade opening price level or with additional pips in profit.
3. Standard Trailing option is probably the least attractive form the variant but it is included if traders want to combine with other types.
4. PriceChannel trailing. This is an advanced method of identifying tops and bottoms using price movements according to which the Trailing Stop will trail the price.
5. Fractals based trailing. Similarly, fractals will signal the change in price movements, based on a particular pattern. Trailing Stop will be placed on these levels where fractals were identified.
6. ATR based Trailing Stop is an advanced method that uses the ATR indicator values to plot a level for the Trailing Stop. Since the ATR indicator is volatility sensitive, most traders like Trailing Stop that adapts to it, making the whole system optimal. Additional settings are offered to multiply the ATR value for extended customization.
7. MA-based Trailing is possible with this tool. Furthermore, it is optional to use multiple MA types and price calculation methods.
8. The Parabolic SAR indicator is commonly used for trend assessment. Interestingly, to some traders, it is a great trend continuation indicator and can also its dots can be used for Trailing Stops. Parabolic SAR default settings are included.
9. A special feature is a Trailing Stop based on user drawn trend line. It only works on a single asset per chart.

Other features include Magic number assignment or all magic numbers, thus giving traders the freedom to apply the Trailing Complex EA with other EAs trades. For testing purposes, the settings panel features adjustable Stop Loss and Take Profit. Other visuals such as font size and colors can be customized.

Service Cost

Trailing Complex is set at $30 to buy with 5 activations. A demo is offered and is downloaded 513 times, showing some interest.

Conclusion

There are two reviews until now, averaging 4.5 stars from the users. One notable positive review is capturing what could make this EA even more attractive for complete trade management: “Nice EA, it can be further developed in particular in SL (default SL, Hline/trendline as TP/SL) and TP management (partial close or open more positions when certain conditions occur). keep on developing!”. Since these EA are expanding the abilities of the MT4 and are very useful, other free variants are available online, although they have different options. If $30 is not an issue for you, Trailing Complex will cover your automatic Trailing Stop needs.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/6567

Moving Averages are the elementary indicators with many variations and used almost in every trading system. Adding multiple MAs with different settings and calculations could result in complete trading systems. Triple Moving Average EA MT4 is such an Expert Advisor designed for the MetaTrader 4 platform. It is developed by Jan Flodin from the Czech Republic who has 36 other products published on the MQL5 market, many of them are popular with great ratings.

This EA belongs to the free category some of his other work is also free to download. The initial release of the Triple Moving Average EA MT4 was on the 2nd of April 2020, as a still new on the scene, it has not been updated and does not have any rating. Interestingly, this Moving Average system is very similar and complementary with other indicators made by Jan Flodin, who seems to be specialized in MA application. The Overview page contains enough information about the system and is transparent on how the EA generates the signals.

Overview

Triple Moving Average EA has 3 MA with different sensitivity settings which together make a special range on the chart. Trade entries are made when the distance between them is exact and when all 3 MAs are aligned in the same direction. According to the author, the method is not popular and only some institutional traders use it. The MA periods are set to 10, 20, and 30 and therefore may not be fast enough for lower timeframes. It is recommended to use the system on the H4 timeframe, although H1 and D1 can be used with solid results. Trailing Stop is a measure used for exits and as a safety threshold. Therefore, the EA will not have deep Stop Loss levels causing the EA to have large average negative return trades. If you want the EA to have only 2 MAs, it is easily done by modifying the settings.

Essentially, the trades entries have a tolerance zone using the distance between them to have more reliable entries or to avoid false breakouts. Interestingly, the EA does not seem to have ranging market filter, or at least not in the classical sense it has a dedicated indicator for this purpose. The tolerance zone could be wide enough to account for sideways movement though. Moving Averages are lagging indicators that could have advanced calculations to reduce lag or to adapt, some of these methods or MA types are optional in the settings. Adding MA types is not usually hard to add in the EA code, therefore you can expect addons in the future versions.

Triple Moving Average EA MT4 features are not special but very useful. At its core, the EA is simple but packed with settings. You will be able to filter slippage, the spread and set working time. Moving Averages are also customizable to a certain extent and you can also rely on the EA implemented Money Management and Risk Management settings. As a special feature, the EA can be used as a trend reversal trading. This is done by setting the tolerance zone wide enough so when the price is far away from the Moving Averages it will correct or reverse. Additionally, the signal generated by the MAs can be reversed for this purpose. We are no sure how successful it will be to use such EA for trend reversals, they are in a way more risky strategies than trend following.

In the Setting Panel, you will have a plethora of variables, providing so many optimization options. Starting with the general settings, you can set the EA to only send you a signal instead to automatically open a trade, so you can confirm this is something you want to trade or just urge you to adapt to different things. The Ea can be set to work with 3 MAs or just two, where the crossover will be used as the trade entry signal. The logic can also be customized, once the MAs cross again, the opened trade will be closed and a new opened if Take Profit has not been triggered. If the market volatility is high, traders may want to wait for a candle close before the signal is generated, so you can set to generate signals only by this condition, disregarding price piercing in a volatile market. This is especially useful on higher timeframes.

Trend following usually involves some kind of baseline, according to which traders only open Buy or Sell orders. To adapt to this strategy, the EA has the feature to disable Buy or Sell order. The mentioned Money Management is not the usual we see where a percentage of balance is used for each new trade size allocation. This EA uses Stop Loss distance in pips which is relevant to set balance percentage. Each Stop Loss value will equal the set balance percentage, therefore traders define how much they risk for every trade. Fixed lot allocation is also optional. Additional Money Management features are related to the Maximal drawdown. This is very interesting as it accounts for all the trades opened by the EA. If your drawdown is above the customizable percentage, the EA will not open new trades, it can close all or a part of them defined by the Magic Number.

Exit parameters are also extensive. Here, traders will set how the system generates trade exits. There are several options, exit on two MA cross, Fixed Stop Loss, MA1 and MA2 distance parameter, MA1, MA2, and MA3 distance parameters, and other special conditions. Take Profit placement has multiple customizable parameters we do not see that often. Aside from the fixed pip positioning, Take Profit can be defined by a Trailing Stop, and by a Risk/Reward ratio. Also, the breakeven feature is integrated too.

Moving Average settings are the usual, period, timeframe, price type, and a few specials. You can change the MA calculation type, by default, it is Exponential Moving Average. Max distance variable can be used as a news event filter, as the price may suddenly jump above the MA. This distance range will filter any signals if the price is above them. Other alert settings and chart comments plot are offered.

Conclusion

This indicator is free and comes in hand with other tools from this author like Moving Average Crossover Scanner and Trend Dashboard. These are paid but have great ratings and the price is affordable. Triple Moving Average EA MT4 is a great starting system for beginners as it is easy to follow and also can be useful as a subsystem to experts, who usually have a specialized indicator or two to add.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47965

Simple Panel EA Plus is an Expert Advisor that has been featured on the mql5 website since June of 2017. The author has published 8 products with 12+ years of experience in programming. The EA was last updated to version 3.7 in March of 2020.

Overview

Simple Panel EA Plus is an Expert Advisor that offers easy one-click trading and allows traders to open all types of pending orders. One can also choose from different types of closing orders, such as closing only buy orders, sell orders, profitable, or loss orders. Because the EA is able to distinguish its orders from others, it can be used in combination with other trading robots on the MT4 platform, but it is necessary to distinguish the EA’s magic number in the settings. SL, TP, and other settings are saved so that there is no need to input the information with each trade. Traders can also work with several settings, including one that is provided for ECN accounts, along with maximum slippage, color scheme, and customization options, and etc.

Service Cost

Traders can either rent the EA for $20 USD for one month or purchase it outright with 20 activations for $50. If you’re interested in testing a demo account, you’ll need to use the link specifically provided by the author within the product’s description as the strategy tester does not allow one to use the buttons.

Conclusion

Simple Panel EA Plus is an easy to use, automated trading Expert that offers traders the flexibility to work with different account types and settings. 8/8 users have given it a 5-star rating, and it has received some of the following comments:

“The vendor was the only one here on mql who was willing to put a feature to his product which I wanted to have! (trailing pending orders) On top of that he created an absolute useful panel which I like very much for my manual trading (basket feature, trailing orders, very good overview about the used features by changing colors…) -Florian
“Great tool: breakeven, partial close, trailing stop, auto lot calculation, pending order, grid, basket of all open trades with TP and SL function.” -Thomas

In order to achieve the best results, you’ll want to remember some of the author’s comments, such as remembering to turn on auto-trading, saving step to memory, that SL and TP are set in pips, and so on. As always, experience and risk-management will help your results, but it is up to the individual trader to decide if a product like this one would work for them.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/23646

The Expert Advisor Turbina was launched on the mql5 website in May of 2017 and developed by Evgeniy Zhdan, who has published more than 120 products on the site. Version 1.6 of the product was released in April of 2019 and is the most recent update.

Overview

Turbina is an automated trading robot that determines the trend direction (based on the GoldenCoast indicator’s algorithm) and calculates levels for opposite orders based on adjustable settings. The EA operates on the established idea that any trend will be broken in the Forex market. Parameters cover TP in pips, order risk, multiplier, step, slippage, magic number, and some display settings that do not affect the way the EA works.

The author doesn’t spend much time describing his product and asks traders to examine screenshots for more information. After reading through the comments section, we did learn that the indicator works with any currency pair or timeframe, on the MT4 platform. We’re assuming that Turbina works with any broker, as the author does not outline any guidelines such as low spreads or etc.

Service Cost

Traders can only purchase this product for $150 USD with 10 activations, as there isn’t an option to rent it for a lower price. The cost isn’t out of line for an EA, but it is disappointing that renting isn’t available. On the bright side, testing is possible through the demo version.

Conclusion

Turbina is an automated EA that places trades based on the trend direction. The author does not describe his product in much detail, but this is somewhat made up for by the fact that 7/7 users rated the product at 5-stars. Users claim that this EA is profitable, and one user even updated his comment to include the fact that the EA remained profitable 2 months after his initial comment. If you’re interested, you’ll want to take a look at the provided screenshots on the product’s overview page, and keep in mind that you’ll have to pay the full cost of $150.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/22914

Fast Copy is a program that allows you to copy transactions between different accounts of Metatrader 5 and Metatrader 4 in any direction and quantity quickly and easily.

Overview

Any type of copy is possible with this software:

• Copy from MT4 to MT5
• Copy from MT4 to MT4
• Copy from MT5 to MT5
• Copy from MT5 to MT4

In order to copy between different MT4 and MT5 terminals, two versions of the product must be purchased.

How does the Fast Copy program work?

The program copies all transactions between two or more terminals installed on a “PC” or “Windows VPS.” It is required to install the program in “MASTER” or “ADMINISTRATOR” mode on a terminal. It can be a terminal with a trading password or an inverter password, either is valid, and it is necessary to install the program in “SLAVE” mode in another terminal and select the account number from which the transactions are to be copied into a particular window. It is also required to restart the program once for an account – the program will automatically recognize and copy all transactions for all selected Forex currency pairs. Note that different versions of the program are needed for MT4 and MT5.

Before purchasing the product, it is possible to test the program in any mode and for your tasks by downloading the corresponding free demo versions Fast Copy MT4 demo and Fast Copy MT5 demo.

Main Features

This is a tool for sending and receiving transactions: the operation mode (master) or (slave) can be selected in the program. A [master] provider can correctly copy transactions to multiple receiver [slave] accounts. A receiver [slave] can also copy transactions from multiple vendor accounts [master]. The program is absolutely compatible between Metatrader 4 and Metatrader 5, as well as order accounting systems and hedge clearing positions.

Copy SL and TP are optional functions. It is possible to set custom Stop Loss and Take Profit levels for operations that have been opened by the program. It is also possible to copy all types of orders, Buy Limit, Sell Limit, Buy Stop, and Sell Stop pending orders. The receiver (slave) account can be manually traded, commonly or other EAs can also be used without any conflict.

Conclusion

Fast Copy has the ability to copy any type of character in any combination. By default, the most suitable pairs are offered. Further, it has the ability to copy operations and commands depending on their magic number. The easy to use, friendly interface offers a high speed of execution. The price of this software is 55 USD and is available for purchase on the MQL5 market.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/18920

Engulf Pips EA is a robot created in March 2020 by Nigerian developer Olamide Seun Bello. Olamide Seun Bello is a prolific creator of automated trading tools, many of them available in the MQL market.

Overview

The Engulf Pips EA does not use hazardous trading methods, resulting in a heavy loss of the entire Deposit such as Martingale, Grid, Arbitrage, etc. Every trade has its Stop Loss and Take Profit, and is optimized by the EA. Users can try their preferred currency pair in different time frames to see the most profitable time frame for that pair and stick to it. The best assets to use will be currency pairs and the most suitable periods include M5, M15, M30. As for brokers, none are off-limits, but it is best to use an ECN account with a low latency broker to ensure that transactions are executed in the shortest time possible.

Some parameters of Engulf Pips EA include:

– Automatic Batch Setting: If true it will pick up the batch size with the % of the account.
– Capital risk: percentage of capital you are willing to risk on each order.
– Volume of trade: If Auto Batch Setting = False, you can enter your standard batch size.
– Maximum number of open-air operations: total number of operations.
– Option to take a position: Choose the type of order you prefer.
– Set stop loss: if Ea automatic will pick up stop loss with the multiple of ATR below.
– Take advantage: If EA Auto chooses to take advantage of the multiple of ATR below.
– Take profit in pips: If you set Take profit = Manual, enter your preferred Take profit.
– Set the final stop mode: if = none, the final stop will not join the command.
– End stop (PIPS): if you set the end stop mode= end stop, enter your stop.
– Size of the second candle in proportion to the first: the size of the absorbing candle compared to the previous candle.
– Set ATR Multiple: The multiple of ATR for stop loss is Set stop-loss equals automatic.

We always recommend the use of a VPS, a dedicated virtual server, while using an EA, this will allow all transactions to run and not lose any. In case of not having a server (MQL offers one in a promotional way), we will have to leave our computer on 24/7.

Service Price

This EA is available to the first 15 buyers for the price of USD 100, then it will rise to its normal price, which is USD 500. Likewise, the rent for a més is now available for 70 USD for the first 20 users, then it will go up to 200 USD.

Conclusion

In conclusion, we are talking about an EA in which the developer does not want to show how it works, or on which it relies to carry out its transactions. A minimum of information is always important. The only option we have left to rely on this tool is to download the free demo version and see how the EA works, find out what it does and how it does it, and also see if it can be profitable and useful for our trading style or not. As this is a newly created tool, there are currently no user opinions that can guide us with their experiences the usefulness of this robot.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47569

Fibonacci Of Yesterday EA is an automated system created in March 2020 by developer Thushara Dissanayake. Thushara Dissanayake is a prolific creator of trading tools that has many references in the MQL market. Those who are interested in exploring this forex service further may do so using the link that we have provided at the bottom of this review.

Overview

The Fibonacci Of Yesterday Expert Advisor is specially designed to automate the most popular Fibonacci strategy that is based on the high and low of the day before. Basically, it places an order between 50% and 38.2% levels. However, you can adjust everything for your own style. The most important Fibonacci levels are included and you can turn each Fibonacci level on/off.

Fibonacci Strategy Of Yesterday EA requires that you wait until all major news is published, so we avoid possible slippages. At that point, you should be able to identify the trend, up or down. If the market is up, draw Fibonacci levels from high oscillating to low oscillating or if the market is down from low oscillation to high oscillation. Place an order between 50% and 38.2% levels with a loss of stop at 23.6% level of retracement.

Features of Fibonacci Of Yesterday EA

• Modern drag system
• Adequate risk management system
• Fast activity
• Notification alerts
• Easy to use configuration

The parameters of this EA are clearly defined and include the following:

• Batch Management – enable/disable the batch management system
• Maximum risk – maximum risk of the total margin in %
• Decrease factor – number of consecutive operations losses to reduce batch size
• Stop Trailing – number of pips in benefit to activate the stop of trailing (pips)
• Final step – stop loss by moving by [x] pips
• Stop Loss – stop loss
• Take Profit – take profit (pips)
• Allow purchase orders – enable/disable purchase orders
• Allow sales orders – enable/ disable sales orders
• Magic number – number for each symbol window and type of trade in which the EA runs simultaneously
• Parameters of the Fibonacci
• Fib level filters are available
• Level 0.0%-200.0% – Enable/Disable each Fibonacci level
• Additional Touch Level Mode – Open operations when touched before several tubes of a Fibonacci level
• Distance for additional level – distance for additional level per pips

Graphical parameters include:

• Line Style – Fibonacci line style
• Line width – Fibonacci line width
• Color Line – Fibonacci color line

Important: The recommended time frames are 30 minutes and 1 hour. The default setting is not optimized for the maximum gain rate, and the user will have to make the adjustments to make the tool profitable.

In short, we are talking about a system that uses Fibonacci as the basis for its operation. This robot is not suitable for all types of traders, as the tool leaves many parameters open so that it is the user who optimizes the operation and makes the system more or less profitable. therefore it may not be the most suitable EA for novice traders.

As in any EA, it is always advisable to use dedicated VPS or virtual servers to stay permanently connected to the robot. If we do not have a server, we are forced to have our computer on 24/7. Another recommended option is to have an ECN account in a reliable broker with low latency so that our orders are executed in the shortest time possible.

Conclusion

We highly recommend before investing in the purchase of the EA that you download the free demo version to know the operation better and familiarize ourselves with all the functionalities that are programmable by the user, and if possible, find out the profitability of the robot even in a demo account. Fibonacci Of Yesterday EA is available for sale on the MQL market at a price of 30 USD, and it is also possible to rent it for 10 USD per month.

This Forex service can be found at the following web address:

Unicorn MT4 is an automated Expert Advisor that was published to the mql5 marketplace by the computer technology instructor Thusitha Ranjana. The product has not been updated since its launch in January of 2019.

Overview

Unicorn MT4 is a trading robot that follows a scalping strategy that calculates each entry point based on high & low prices on the chart. This EA does not use indicators, but it does employ the use of the historically risky Martingale strategy. It can be used with all symbols with leverage from 1:500 – 1:1000. The robot works on the MT4 platform, and it is recommended to be used with a broker that offers Cent accounts, VPS, low spread, and fast order execution for the best results.

Service Cost

Traders can either rent the EA for $10 USD a month or purchase it for $30 with 5 activations. Another item you’ll want to consider is VPS, which is recommended but not absolutely required. If you follow the developer’s advice to open a Cent account, your initial deposit requirement should be fairly low, but it is unlikely that free VPS will be included with this type of account. You’ll likely need to pay a higher price through your broker or the mql5 marketplace to use it.

Conclusion

Unicorn MT4 uses 2 different trading strategies and offers automated trading, which is a great convenience to any user, but it doesn’t come without concerns. First, the Martingale strategy that is used is risky, and the necessary leverage of 1:500 to 1:1000 is rather high and may not be familiar enough for beginners. You’ll also have to find a broker that fits in the recommendations, which means paying for VPS and finding a Cent account that offers the recommended leverage, along with fast execution and low spreads.

On the bright side, the price is very low for an automated EA. We would have liked to read some reviews to see if others have had a good experience with this indicator, but the product remains unrated without any comments whatsoever. If you do decide to purchase this EA, we recommend that you choose a broker that fits within the guidelines and have some background experience yourself, especially when it comes to higher leverages.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/23391

Echo One Full EA is a robot that was created in March 2020 by Thai developer Phongkrit Phattanawijak. Phongkrit Phattanawijak is a prolific creator of automated trading systems, and many of its creations are available on the MQL market. The robot provided is the result of several trade tests of many strategies, several forecasting indicators, allowing traders to make the best decisions to make a profit in the markets.

Overview

By combining various strategies and algorithms in this robot, by changing the price of each tick, with maximum accuracy and speed. A real account has been opened where it will be possible to analyze the whole story, as well as constantly monitor in real-time all of the current results. Monitoring is available on the MQL marketplace.

The huge advantage of the Echo One Full EA is that the end-user can start trading with just 300 USD. With a smaller balance, users can trade with a single currency pair. If the balance is higher, users can trade with 2 or more currency pairs. It is necessary to have at least 300 USD for every pair of currencies that you want to trade. However, using risk management, if you want to open a lot of orders you must have sufficient balance in your account.

The EA does not use hazardous or toxic commercial methods in trade, such as Martingale. Every shop has its Stop Loss and Take Profit and can be optimized by the user. The best pairs to negotiate according to the backtest are EURUSD GBPUSD GBPJPY GBPAUD EURJPY USDJPY USDCHF EURCHF EURAUD and NZDUSD. The best time frames and the best yields have given are H1 -> H4. All brokers are possible to work with this EA, but we must have an ECN account in a reliable and low latency broker so that our transactions are executed in the shortest time possible.

Main Parameters of Echo One Full EA:

• Allow Trading: Allow Trading or Not
• Set the size of batches or automatic batches: the size of the lot at the entrance
• Unlimited command: Can open as user wants
• Timeout to check and open a new order
• Specify the range to open Order

Service Price

Echo One Full EA is on sale on the MQL market for a price of 2,500 USD. Certainly, this is a large investment that will not be available to all traders. It is also available for rent at a price of 250 USD for one month, 600 USD for 3 months of use, 1000 USD for 6 months of use, and 2000 USD for 1 year of use.

Conclusion

In short, this is an EA which in principle seems fairly straightforward to use, although the author has not made it clear on what basis the EA operates. For this reason, we recommend downloading the free demo version. In this way, we can find out more about how Echo One Full EA works, and see if it can be cost-effective and accommodate our trading style or not. Whenever we use an EA it is highly recommended to have a dedicated virtual server or VPS, this will allow us not to miss any of the transactions that the EA performs. And if we don’t have this tool, we should have our computer on 24/7.

Because Echo One Full EA is newly created, there are currently no opinions or reviews from users who have been able to test the tool sufficiently, so we lack third-party testimonials.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47183

Stubborn Spider is an Expert Advisor that was published by forex trader/author Ilya Fomin in October of 2015. It is available on the mql5 marketplace and was last updated to version 1.12 in August of 2018.

Overview

The Stubborn Spider EA works as a semi-automated or fully-automated trading robot that follows a scalping strategy, meaning that it makes a large number of transactions with the intention of making multiple small gains. The robot opens orders in a particular direction, but closes a series of deals at the minimum price retracement should things go in an unfavorable direction.

Here are a few key facts:

• Works on the M1 timeframe on the MetaTrader 4 platform
• Recommended for use on EURUSD, but can work with other currency pairs
• Leverage should be at least 1:200 and up, 1:500 is recommended
• Works with almost any broker
• Requires $1k deposit to use high-risk mode, $10,000 deposit to use normal mode
• Semi-automatic mode can be used to reduce risks, ex. during news releases
• Uses a Martingale system if the price goes against the direction

Service Cost

There are a few different costs that can add up when it comes to this product. First, traders will either need to purchase it outright for $333 USD or rent it for a lower rate of $30 per month. Second, traders must deposit at least $1,000 minimum and the recommended deposit is $10,000 or cents on 0.01 lot. If you plan on using VPS, that is another cost that needs to be factored into the overall investment. Those that are interested in testing before making an investment can take advantage of the free demo accounts that are provided by the author.

Conclusion

Stubborn Spider is a fully automated trading robot that profits from a scalping/Martingale strategy. It has received a handful of reviews and a 3 ½ star rating from users.

Some had good things to say:

“This EA is very good, I spent a long time, very stable, very good control of risk, stable profits” -Yang

“”This is a simple and efficient martingale bot which has done very well! you can check out his own signal which has done well. Of course, it is not risk free, nothing in forex is, but if you have a proper risk diversification strategy, then it will complement your portfolio very well!”” -Peter

Others, not so much:

“”2 stars as tools works, when in right market, but needs external indicators to confirm entry on basket close, on grid increase automatic grid step increase (as I asked twice). Tool is worth maybe $40, $60 not 333″” -Bud

As you can see, reviews are mixed. If you want to use this EA, you’re going to need to have $1,000+ to invest or $10,000+ to use it outside of high-risk mode. This isn’t such a downside if you have the means to sink that much money into the product, but those that don’t can easily find an Expert for a lower price with a lower deposit requirement elsewhere. Be sure to test this EA in the strategy tester before purchasing, and keep in mind that the Martingale strategy is historically risky, so use caution.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/12078

Forex Gump is an automated Forex advisor with a good reputation. This advisor was created in 2017. During this period, many mentions of the robot with automatic execution of transactions have been published, and almost all are positive. This trading system is paid for. And the developer has been offering, for a long time, two versions, at a price of 199 or 399 euros, depending on whether you want to use the advisor in a live account or in three.

The advisor works in one-minute time frames. As a result, this is a classic scalping. During installation, we see that the graph does not use technical indicators, nor any other technical analysis tool. The list of currency pairs for trading consists of 9 units. That is, almost all currency pairs volatile with the euro and the US dollar. These tactics are often applicable to trading systems that are not based on the algorithms prescribed by the advisers. Transactions are probably opened randomly in simple indicators or patterns.

This EA is installed on the Metatrader 4 trading platform. In the file, you download when you purchase the EA, it will be immediately available. You can change some parameters manually, but developers do not recommend doing this on the pretext that risks are increased. Theoretically, a team of programmers and traders takes into consideration all possible factors that may affect the markets. Therefore, it is not recommended, according to the developers, to modify the parameters that are already predefined in the EA.

General information about EA:

• The recommended minimum starting balance is USD 4,000 or 4,000 cents (USD 40)
• Minimum initial batch: 0.01 lot
• Ability to use a demo account: Yes
• Restrictions on the choice of the broker: No

Another interesting thing about this robot is the team formed by its creators, which is managed by the famous Ukrainian trader and developer Andrew Kozak. There is a lot of information about this trader on the Internet. For example, Andrew also deals with the publication of some trading systems on the MQL5 portal.

It must be said that some automatic robots, which are considered universal, are already available free of charge. But these free EA’s are potentially based on a number of indicators, including BSS Scalping EA. Developer Andrew Kozak claims that the high profitability indicator is also included in the algorithms of this robot, but obviously does not reveal its algorithms. As assumed above, Forex Gump EA can be a classic EA, which opens operations quite randomly, trying to get at least a minimal profit of a few pips in each order.

Forex Gump EA Disadvantages

The minimum deposit is too high if you do not want to trade with cents. Unfortunately, many traders do not have that amount. It’s too big to risk with a trading bot. There is no clear understanding of the operating principles of the robot algorithm. The developer has not implemented any of his own development, trying to make money in the simplest trading systems. Scalping may not be cost-effective without the use of appropriate technical tools. There are no results of this EA that are published in independent portals. The only Forex Gump EA trading indicators are screenshots posted on the developer’s official website.

Conclusion

This robot is standard and has no outstanding auto-running advisor. Acquiring this EA can be a consistent option for traders who have a high budget, but who don’t want to worry about spending time doing their own trading. But, there are always alternatives to choose from. Note that to start using it you must have an impressive amount of $4,000 or $40 in a penny account. The developer likely added these requirements to avoid many small accounts in the initial phase of the consultant’s launch. Scalping, which is the basis here, means opening several transactions in different currency pairs during the day.

We recommend using Gump EA Forex on multiple assets. And always follow the news on an economic calendar, to be in time to turn off the robot when there are important fundamental factors. In fact, the absence of indicators is an indicator that the program is not able to fully analyze the market.

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

Gold Rush Aggressive is an EA that was created in April 2016 by developer Aibek Mugiynov, a robot creator known for developing low-cost tools for MQL market users.

Overview

Aggressive Gold Rush Expert Advisor is based on identifying support and endurance levels. It works autonomously, and it is advisable to use a VPS server. The EA has passed all the tests in real ticks. The author advises to use a Pro broker and ECN – Market Execution, such accounts are necessary for the correct functioning of the EA.

The trading robot works with all symbols. However, the most advisable assets to trade will be, XAUUSD and EURUSD, as they have shown the best results in the tests. Unlike its predecessor, the simple EA Gold Rush, this EA makes market entries more frequently as it analyzes seven and more days compared to 1-2 days analyzed by the simple Gold Rush.

The main parameters used by this EA are:

• Lotproc – deposit lot percentage.
• lot – fixed lot. sl – stop loss.
• tp – take advantage.
• Final stop – final stop. Final step – final step.
• Timevol – time speed (number of points, after which a stop is activated by time).
• Equilibrium point – equilibrium point.
• VSL – virtual loss stop.
• Dtime – Time to remove commands not activated (in current time bars).
• Magicb – buy identifier offers.
• Magics – Sale Offer Identifier.
• Symbolsuffix – symbol suffix. Showaccinfo – information panel.

Recommendations:

-Before using a real account, check the EA for minimal risk.

-It is advisable to use a VPS or hosting server with minimal network latency on the broker server.

-For best results, use leverage of 1:100 or more.

-Maximum margin – 0-20 points.

-Minimum deposit: 100 USD.

As always, low spreads, low commission, and high-quality execution are important when choosing a broker to trade with any EA.

Conclusion

In short, we are talking about an EA that detects levels of support and resistance and executes orders at those points while waiting for those levels to be respected. It is a fairly basic EA, suitable for all types of traders because of its ease of use and easy understanding. However, we believe that this tool has to be debugged because in the comments of users who have already tested this EA we find conflicting positions, positive comments but also negative comments, so we advise caution with the use of this tool. The truth is that its price in the MQL market is affordable, 30 USD, but still, we advise to try the demo version to know the system and decide if we want to add it or not to our trading.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/15804

Gridprofit EA is a robot that was created in March 2020 by developer Algelino Hafis Mohamed Yacine. Hafis Mohamed Yacine is a prolific creator of automated trading systems and many of them are available on the MQL market.

Overview

Grid Profit EA is a robot capable of working with all currency pairs. The best-performing time frames in backtests are 5-15-30 and 1H. The recommended minimum deposit to start working with Gridprofit EA is 1000 USD, and the appropriate lot size will be 0.01 lots. Grid Profit EA will not work as well if the volatility of your merchandise begins to decrease. The best results in this EA have been in periods of high price volatility.

The author comments that Gridprofit EA users are very happy with the performance and are giving very positive ratings to their product. The reality is that we have not found any valuation on this EA and at least in the MQL market there are no users who have expressed their opinion regarding Gridprofit EA. This EA initiates a cycle of buying or selling depending on the signage, begins with the base, much and increase the size at each step by its factor and set an overall profit take. If the daily target benefit is achieved then it will close all commands, also have a filtering time. You can enable coverage after specifying the number of loss orders.

We have ended up a little confused after reading the author’s specifications, which although he is an experienced developer, we have not been clear about the basis of operation of this EA. As in any EA, we always recommend the use of a dedicated virtual server (VPS) not to miss any of the transactions that the robot makes, otherwise, we must leave our computer on 24/7. It is also advisable to have an ECN account in a reliable broker and have low latency so that our transactions run in the shortest time possible.

Conclusion

We recommend downloading the free demo version of this EA, as this way we may be able to investigate a little more about how this EA works and find out if it is cost-effective and we can adapt it to our trading style. Gridprofit EA is for sale on the MQL market at a price of 200 USD, although If you prefer there is the possibility of renting it for a price of 40 USD for a month, or 120 USD for 3 months of use.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31958

The Crystal EA can be found within the Experts section of the MQL5 marketplace, there may be others with similar names so we have provided you with a link below. The expert advisor was first uploaded on the 20th of February 2020 by its creator Dmitry Lukyanov. It has had a few small updates, the most recent was on the 16th of March 2020 and this brought the expert advisor up to version 1.21.

Overview

The Crystal EA is an expert advisor designed for the MetaTrader 4 trading platform, the expert advisor has been created to work with 6 currency pairs (see below), it claims to use advanced and new technology in the field of artificial technology. The expert advisor does not use certain strategies such as martingale, grid, and averaging.

The information provided does not really say what the expert advisor actually does, all that it says is that it will use a neural network to select optimal settings such as stop loss, take profits and lot sizes, it does this by weighing each currency pair, again, we do not fully understand how it works or selects its trades.

The recommendations for using the expert advisor:

• The recommended time frame is M30.
• Recommended pairs are EURUSD, USDCAD, GBPUSD, AUDUSD, NZDUSD, USDCHF.
• The recommended account type will have 5-digit quotes.

It terms of settings, there is a long list of settings that can be changed to help alter the way the expert advisor works to suit your own needs, some of the settings include auto lot calculations, lot sizes, percentage of risk, slippage, symbols, minimum lots, maximum lots, trade steps, whether to use trailing stops, the trailing stop steps, and more.

Service Cost

The Crystal EA expert advisor can be purchased for $215, this will give you unlimited access to the expert advisor and has no restrictions. If you do not wish to purchase it for that amount, you are also able to rent it, you can rent on a monthly basis which will cost you $50 per month. There is a free demo version available, the limitations of this free version are not known but we believe that it may only be usable on a demo account and not a live one.

Conclusion

There are only two reviews available for the Crystal EA, they are giving it an overall rating of 3 out of 5, so there is a positive and a negative one.

“Take your time to buy. A lot of beautiful words, a huge price. And all the feet … After the update, it again trades at a loss. Apparently, history is simply sewn into the adviser… Do you want to repeat my experience? Buy an adviser! The author generally stopped responding to messages – that’s great support.” – A 1-star review. (Translated from Russian).

“Super EA and support!”

With there being both a positive and a negative review it is hard to gauge how effective the expert advisor is, there are also18 comments, the author or the expert advisor seems to be responding to the comments quickly, this is contrary to what the first review we looked at said. Due to the differing opinions from the reviews, we would highly recommend that you download the free version, this will give you an opportunity to try it out and test it, ensuring that it will be working for you and that it does, in fact, do what it claims to, you should do this before making a purchase.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/46529

Profit Maker is located within the Experts sub-category of the MQL5 marketplace, it was developed and uploaded to the marketplace by Aleksandr Kudria on the 9th of March 2020, it has not had any updates and so it is still at version 1.0.

Overview

Profit Maker is an expert advisor that can be used with the MetaTrader 4 trading platform, the Ea was designed to be used with the EURUSD currency pair and it has only been optimized for this one pair. The Ea is fully automated and works to a schedule, so there is no need for any user input once it has been set up. It will look for entry points by analyzing the slope and values of several different TMA parameters. It will close trades and use trailing profits on open orders and this has been implemented into the creator’s own algorithms.

It is recommended that you sue the EA with a dedicated VPS as it will need to be on 24/7, it works with both 4-digit and 5-digit brokers, the EA does not use more dangerous strategies such as martingale or grid which is a good sign.

The schedule that the EA works to:

-Start every day Hour – Start time of the adviser in hours.

-Start every day Minute – Advisor start time in minutes.

-Stop session every day Hour – the end time of the daily adviser session in hours.

-Stop session every day Minute – The end time of the daily EA session in minutes.

-Stop Hour Friday – The end time of the afternoon session on Friday in hours (Special mode of adviser for Friday is possible).

-Stop Minute Friday – The end time of the Friday afternoon session in minutes.

There are also a number of different parameters that come with the EA, thee includes things like the visuals of the EA, magic numbers, lot sizes used, the mode of calculation, the TMA settings, max number of open orders, and more.

Service Cost

Profit Maker can be purchased from the MQL5 marketplace for $2020, this higher price makes it clear that the developer would prefer the EA to be used as a rental rather than a one time purchase. We did see it a tad cheaper in other Forex stores, but not much cheaper, listed at $1,999. You can rent the EA per month which will cost you $30 per month. Whichever option you take, you will be able to activate the EA up to 5 times with a single purchase or rental. There is a free demo version that is also available, however, this can only be used with the strategy tester that is found within the MQL5 marketplace.

Conclusion

Unfortunately, at the time of writing, there were no reviews or ratings from anyone that had used the Ea, this makes it hard to know whether it is functioning as described or whether it is profitable to use or not. There are also no comments, so this again makes it quite hard to work out what sort of support the developer will be offering. Due to both of these things, we would strongly suggest that you contact the developer with any questions that you may have, this is a way to ensure that the EA will do what you need it to do, but also that the developer is there to actively support you should you need it.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/46729

Momentum Capture EA can be found in the MQL5 marketplace under the experts’ category. We have added a link to it below so you know exactly which expert advisor we are looking at. The expert advisor was first uploaded on the 20th of December 2017 by its creator Roman Lengert. It has received a number of updates, it was last updated on the 18th of January 2020 and is currently at version 2.9.

Overview

The Momentum Capture EA is an expert advisor designed to work with MetaTrader 4. The way that the expert advisor wors is by trying to detect the start of a trend after a news event or speech, it can work with multiple currencies on multiple timeframes. The EA does not use martingale or grid trading, it will open a position following the trend but will also open some pending orders for a possible reversal.

The recommended currency pairs are EURUSD, EURJPY, EURAUD, EURCAD, GBPUSD, USDCAD, USDCHF, GBPJPY, AUDJPY, USDJPY, AUDUSD, EURGBP, EURCHF, and CADJPY.

The expert advisor also has a number of different parameters that can be altered to help you optimize it to your needs, some of them include the symbol types, which timeframe to trade on, lot type and size, trailing stops, equity per step and many more.

Service Cost

Momentum Capture EA is a relatively expensive advisor, it will cost you $625 to purchase which is a lot of money, this will give you unlimited access without any limitations. There is also the option to rent the expert advisor, this will cost you $50 for one month’s use, $120 for 3 months use and $220 for 6 months use. There is a free demo version available this will have some limitations but we do not fully understand what they are.

Conclusion

There are currently 10 reviews for the Momentum Capture EA, the overall rating from these reviews is 4 out of 5 which is not a bad score to have.

“A lot of patience would have been needed in 2019, however, it’s really early to say “this is a junk” as someone posted on review, we should look at behavior carefully like how MC handles false breakout and follow strong movements. We might be aware that MC is totally different from his other night scalpers, so it very depends on how several events make an impact on a market.” – A 5-star review.

“Friendly and competent seller. But ever since I bought and used the EA I’ve had nothing but losses.” – A 2-star review.

“I believe this to be the best ea I have tested many almost all others fail. A very robust smart strategy I gave 5 stars not only because of the performance but because Roman is responsive and is always looking to improve the strategy.”

So there is a mix of review scores, there are also a number of comments, the creator of the expert advisor seems to be replying to them promptly which is good to see. As there is a mix of reviews we would highly suggest that you download and try the free version, while it does have some limitations it will at least enable you to check that you can get it working properly before making a rather large purchase.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/26551