Tag: forex review

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

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

Overview

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

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

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

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

Service Cost

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

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

Conclusion

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

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

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

Overview

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

The main features of the expert advisor:

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

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

Service Cost

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

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

Conclusion

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

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

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

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

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

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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

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

Overview

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

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

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

Service Cost

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

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

Conclusion

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

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

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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

Overview

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

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

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

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

Service Cost

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

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

Conclusion

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

“Good” – A 5-star review.

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

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

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

Overview

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

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

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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

Overview

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

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

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

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

Service Cost

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

Conclusion

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

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

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

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

Overview

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

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

Some key advantages to using the CAP Prime Scalper EA:

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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

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

Overview

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

There are a number of parameters available to alter:

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

Service Cost

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

Conclusion

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

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

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

Overview

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

Some of the key features include:

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

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

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

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

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

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

-All settings are fully customizable, no hidden parameters.

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

Service Cost

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

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

Conclusion

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

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

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

Overview

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

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

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

Some features when setting up the EA:

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

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

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

Service Cost

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

Conclusion

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

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

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

Overview

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

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

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

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

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

Service Cost

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

Conclusion

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

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

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

Overview

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

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

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

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

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

Service Cost

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

Conclusion

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

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

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

Overview

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

There are a few major features of the expert advisor:

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

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

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

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

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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

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

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

Overview

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

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

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

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

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

Service Cost

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

Conclusion

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

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

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

Overview

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

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

The examples are given:

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

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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

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

Overview

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

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

The following settings have been recommended as the starting settings:

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

The various options for money management are as follows:

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

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

Service Cost

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

Conclusion

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

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

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

Overview

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

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

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

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

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

Service Cost

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

Conclusion

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

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