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Forex Service Review

MA Channel SK Indicator Review

MA Channel SK can be found within the indicator section of the MQL5 marketplace, we have provided a link below so it is not confused with any other similarly named indicators. The indicator was first uploaded on the 16th of July 2015 by Sergei Konoplev, it was most recently updated on the 5th of August 2015 and it is currently at version 12.1.

Overview

The MA Channel SK is an indicator for MetaTrader 4, the indicator is based around Moving Averages.

The main features of the indicator:

  • MA_Channel_SK defines reasonable market entry/exit points
  • Forecasts the possible future price movement
  • Creates equidistant channels that become dynamic support and resistance levels
  • Greatly facilitates the visual analysis of the market

There are also a few settings that can be altered, these include the MA period, averaging method, price type, grid step for different time frames, text color, number of bars to display, and more.

https://youtu.be/fLtNg9LWK-Q

Service Cost

The indicator will cost you $10 to purchase it outright, this will give you unlimited access to it. Many indicators on the MQL5 marketplace have the opportunity to rent them, this one, however, does not. There is a free demo version, but the limitations of the free version are not known or displayed on the site.

Conclusion

At the time of writing, there are two reviews available for the MA Channel SK indicator, both of them are giving it 5 out of 5.

“Powerful indicator” – User Review

“Good tool”- User Review

The reviews aren’t giving a whole lot of detail, but they are at least positive. There are a number of comments also, the developer has replied to some of them but not all, but he has responded to the ones that needed a response which is good. As there aren’t many reviews, we would strongly suggest that you download the free demo version to test out and also contact the developer so you can be sure that it does what you need it to do before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/10568

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Forex Service Review

Arbitrage Thief Index Indicator Review

Arbitrage Tief Index was created by Philip Pankaj and was first uploaded on the 23td of March 2019, it has had a number of updates, the most recent update was on the 22nd of January 2020 and is currently at version 1.80. It can currently be found on the MQL5 MArketplace under the Indicators heading.

Overview

Arbitrage Tief Index was created for the MetaTrader 4 trading platform, there is a MetaTrader 5 version also available on the MMQL5 marketplace. The aim of the indicator is to analyze the best arbitrage options, it will look at multiple currencies correlations and will look for positive, neutral, and negative correlations.

Some of the main features of the software:

  • Great for novice traders as well as experienced traders.
  • Low-risk entries.
  • Doesn’t repaints.
  • No additional Indicator is needed.
  • It’s a trading strategy itself.
  • It is perfect for scalping Basket trades.
  • Simple and easy to use.
  • Works in both trending and non-trending markets.
  • Popup Alerts, Push Notification, and Email alerts.
  • It can be integrated into Expert Advisors.

In terms of parameters, there aren’t many of them, there are some options for alerts such as popup alerts, email alerts, and push notifications.

Service Cost

The Arbitrage Thief Index EA indicator can be purchased for $89, this is a one-off payment and can then be activated up to 10 times. There is also an option of renting the indicator, you can do this on a monthly basis which will cost you $49 per month, there is also a three-month option which will cost you $69 for that time period.

A free demo version is also available, this version will have some limitations, the site does not indicate what they are but this normally means that it can only be used with the strategy tester within the trading platform. It may be worth downloading to try before you make a purchase.

Conclusion

At the time of writing, there are currently 25 user reviews for the Arbitrage Thief Index which are giving the indicator an overall rating of 4 out of 5.

“This indicator and the strategy are awesome. I’ve tested it on my tiny real account and was quite successful with it if you follow the rules. I’m moving to my bigger account. Thank you, Philips!” – A 5-star review.

“The strategy behind the indicator is very good. It is a very professional operating technique. If you want to operate a large investment fund this is your indicator if on the contrary, you are looking for unusual returns and with great risk, look for martingale robots that will exploit your account. “Arbitrage Thief Index” is very professional and very safe.” – A 5-star review.

“Not good. Too many false signals.” – A 1-star review.

The majority of the reviews are very positive, the main negatives are not giving a lot of information on the issues, but it does not seem to be working well for some, while others it does exactly what it says it is meant to. There re also over 700 comments, the developer has been very active replying to each one which shows that they are still supporting the indicator and those that have purchased it which is great to see. We woulda device trying out the free version before making a purchase just to make sure that it does in fact do what you need it to do.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/37026

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Forex Service Review

Advanced Trade Copier Receiver Review

The Advanced Trade Copier Reciever is a trade copying software that can be found on the MQL5 website, we have provided a link to it so you can see exactly which piece of software we are looking at. This software was first released back on the 16th of January 2016, there have not been any further updates so the software version is still 1.0

Overview

This is a tool designed for MetaTrader 4, it allows you to copy trades from a master account to the account that is using this piece of software. This only receives trades, it is not able to send them, you will need to also purchase the sender if you wish to send trades.

Some of the basic features of this software:

  • Copy orders between accounts
  • The accounts do not have to be on the same VPS
  • Web-based copying features
  • Account information on the chart

There are a number of additional settings and features available including options for magic numbers, dynamic lot sizes, custom lot sizes, maximum lot sizes, trader symbols, and account symbols.

Service Cost

It will cost you $25 in order to purchase this utility software, you can also rent it, to rest for 1 month it will cost you $10, for 3 months it will cost you $15, for 6 months it will cost you $20 and to rent the software for 1 year it will cost you $24. Ther eis also a free demo version available but the limitations of this demo are not known.

Conclusion

There is just one review available, the good news is that it is a 5-star review.

“The best trading copier! Thanks a lot to the developer! It made copying orders very easy!!!!”

There aren’t any other reviews available, so it seems that the person using it is enjoying it, we would always recommend that you download and try the free version, this was you can ensure that you are able to get it functioning properly and that it works the way that you need, before putting any money down on a purchase or rental.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13498

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Forex Service Review

Channel Enslaver FX Indicator Review

Channel Enslaver was created by Algorithmic Capital, Ltd. and was uploaded to the MQL5 Marketplace on the 11th of April 2019, it was uploaded as version 1.2 and has not received any further updates.

Overview

Channel Enslaver is an indicator that can be used with the MetaTrader 4 trading platform.

The indicator was designed to do a few different things:

  • Analyzes the market and finds the best moments to trade.
  • It will give an alert about the need to open and close deals and send notifications to your mail or PUSH to your phone.
  • Conveniently displays all trade statistics on a chart of quotes.
  • Independently calculate and show statistics of the effectiveness of their signals!

There is a full manual that comes with the indicator should you decide to rent or buy it which will help you get it set up and will also explain nay potential parameters that may be available to alter.

Service Cost

There are a couple of options available to get access to the Channel Enslaver indicator, you can purchase it with a one-time payment of $77, or you are able to rent it for $44 per month, you will get up to 5 activations whichever method you use.

A free demo version is also available, the site does not detail what the limitations are so we believe that it will only be able to be used with the MT4 strategy tester.

Conclusion

Unfortunately, Channel Enslaver does not have any user reviews or ratings so we do not know how customers shave been finding it or whether it is, in fact, doing what it is meant to do. There is a comment from the developer which is actually advertising some of their other software which is not a great thing to see, it was also from 2019 so we are not sure whether it is still being supported by the developer, we would recommend contacting them before making a purchase or a rental to check that you will still be able to receive some support once purchased.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/37607

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Forex Service Review

Exp Safe Harbor EA Review

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

Overview

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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Forex Service Review

FiboPlus Fibonacci-Based Indicator Review

FiboPlus is a piece of software that can be found within the Indicators section of the MQL5 marketplace, there may be other indicators with similar names, so we have provided a link below so you know exactly which one we are talking about. The FiboPlus was created by Sergey Malysh on the 12th of September 2016, it has since been updated a number of times, the most recent update was on the 29th of December 2017 and the indicator is now on version 3.0.

Overview

FiboPlus is an indicator that has been designed for the MetaTrader 4 trading platform, it is a stated as a ready-made trading platform, based on the automatic construction of Fibonacci levels for both buying and selling, it can be used on any instrument and on any timeframe.

Some of the FiboPlus features:

  • Detection of trend direction (14 indicators)
  • Construction of horizontal levels, support and resistance lines, channels
  • Selection of a variant for calculating Fibonacci levels (six different methods)
  • Alert system (on-screen, E-Mail, Push notifications)

There is a wide range of parameters that can be changed, these will slightly alter the way that the indicator works, these include things like the language, the Fibonacci level options, alert settings, turning alerts on or off, emails, colors and more.

Service Cost

The indicator can be purchased outright for $80, this will give you unlimited access and use. You are also able to rent the indicator, there are a number of different options for renting it, you can rent it on a monthly basis which will cost you $20 per month, for three months it will cost you $40, for 6 months it will cost $50 and to rent it for 1 year it will cost you $70. There is also a free version available, this will have some limitations but we are not sure what they are.

Conclusion

There are six different reviews available for the FiboPlus indicator, each and every one of them is giving it a 5 out of 5 ratings.

“Inexpensive little helper 🙂 It helps me see the overall trend across multiple TF. Also, I use the S/R feature quite a bit.”

“Best indicator I’ve ever used so far! Made a lot of profit with it. Very valuable. I was looking all over the net for a Fibonacci indicator or EA and this is the best one I found.“

“I love using Fibonacci and finally I came across an indicator that does an excellent job with Fibonacci analysis. Looks good and works great!! Well done to the programmer.”

So there is a lot of positivity around the indicator and it seems to be working as intended. We would recommend that you download the free version, this will give you the opportunity to test it out and to make sure that it both suits your requirements and that you are able to get it set up correctly without any issues.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/18097

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Forex Service Review

Forex Godzilla EUR/USD H1 EA Review

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

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Forex Service Review

Personal Trader Forex EA Review

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

Overview

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

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

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

A few recommendations from the developer:

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

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

Service Cost

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

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

Conclusion

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

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

Categories
Forex Service Review

CAP Internal Copy Trade MT5 EA Review

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

Overview

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

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

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

The example given is:

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

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

Service Cost

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

Conclusion

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

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

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

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

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Forex Service Review

Breakthrough Strategy Expert Advisor Review

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

Overview

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

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

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

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

Service Cost

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

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

Conclusion

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

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

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

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

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

Categories
Forex Service Review

Alexis Stenvall Investment (ASI) Automated EA Review

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

Overview

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

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

The recommended settings for the expert advisor:

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

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

Service Cost

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

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

Conclusion

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

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

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

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

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

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

Categories
Forex Service Review

FoxTrotTWO EA Review

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

Overview

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

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

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

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

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

Service Cost

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

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

Conclusion

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

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

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

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

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

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

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

Categories
Forex Service Review

Laguerre VIX Trend Extrema (LVTE) Indicator Review

Laguerre VIX Trend Extrema is currently found on the MQL5 marketplace under the indicators category. We have provided a link to it below. The indicator was uploaded by Synapse Investment Research Group on the 13th of February 2017, this was the first version uploaded and is currently at version 1.4.

Overview

Laguerre VIX Trend Extrema is an indicator for the MetaTrader 4 trading platform, it was designed to detect market tops and bottoms, it is a percentage price oscillator that will help to detect the market ranges.

The indicator is also able to send out alerts in the form of messages, sounds, or emails.

There are three different variations to the algorithms:

-Regular: Laguerre price oscillator for maxima and minima detection.

-VIX: Regular LVTE for maxima detection, but modified VIX fix for minima detection.

-Instantaneous: A variant on the “regular” Laguerre price oscillator to maximize forward detection using a lag-less calculation, while also minimizing false positives. However, this is at the expense of smoothing.

The indicator also comes with a number of different parameters, some of them include the calculation variant type, the color schemes, maxima offset dots, percentile thresholds, Bollinger band length, and deviations, to turn alerts on or off, to change the alert type, the Laguerre calculation periods, and more.

Service Cost

The Laguerre VIX Trend Extrema indicator can currently be purchased for $99, this will get you unlimited access with no restrictions. If you do not wish to purchase it outright you are also able to rent it on a monthly period, this will cost you $33 per month, or you can rent it for 3 months which will cost you $66.

The site indicates that there is a free demo version which will have some limitations, the limitations are not actually mentioned on the site so we are not entirely sure what they will be, it is always a good idea to test out the free versions though.

Conclusion

There are two reviews available for the Laguerre VIX trend Extrema indicator, they are both giving it 5 out of 5 ratings.

“I trade harmonics and using all 3 variants simultaneously provides solid reversal confirmations.” 5-Star Review

“Professional indicator to help find market tops and bottoms. This was exactly the indicator I was looking for to help me find reversal opportunities.”

So both the reviews are giving it very positive reviews, there are also 2 comments, the developer of the indicator has replied to one of them with a very comprehensive answer, the second one he did not reply to. This can often be a sign as to what sort of support you will receive. Due to there not being many reviews, we would strongly suggest that you download the free version to try out, also be sure to send any queries to the developer so you can be sure that the indicator is right for you before you make a purchase or rent the software.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/19540

Categories
Forex Service Review

Netsrac Correlation Trader (NCT) EA Review

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

Overview

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

The main features of the expert advisor:

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

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

Service Cost

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

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

Conclusion

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

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

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

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

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

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

Categories
Forex Service Review

Pair’s Spread FX Indicator Review

Pairs Spread is a technical indicator that can be found on the MQL5 marketplace, we have provided a link to it below so you can see exactly which bit of software we are talking about as there may be others with similar names. The indicator was first released back on the 17th of April 2014, there does not appear to have been any further updates and so it is still on version 1.0 of the indicator.

Overview

The Pairs Spread indicator is available to sue with the MetaTrader 4 trading platform and works by facilitating and making the execution of popular investment strategies easier. Pairs Trading is when you look for pairs of assets that historically have moved together and then you try to exploit areas of potential mispricing.

There are two risk management measures, the Value at Risk and Expected Shortfall, they have been defined by the indicator creator as:

The Value at Risk at a confidence level a=0.95 is given by the smallest number l such that the probability that the loss L exceeds l is no larger than 0.05. By definition, a positive value of Value at Risk equal to B means that our position with 95% confidence will not lose more than B.

Expected Shortfall is closely related to Value at Risk and at a confidence level a=0.95 is the expected loss of our position in the worst 5% of the cases. By definition, a positive value of Expected Shortfall equal to B means that in the worst 5% of the possible cases our position will have an expected loss of B.

An alternative use of Pair’s Spread Indicator is for displaying the prices of another instrument in our selected window.

There is a large number of input parameters that can be altered to slightly change the way that the indicator works, some of these include the pairs to use, the long term mean, the integrated coefficient, the first threshold, the second threshold, entry price, trade type and more.

Service Cost

The indicator can be purchased outright for $55, there is no option to rent this indicator, you are only able to buy it. There is also a free version available, but we are not sure if there are any limitations on the free version.

Conclusion

Unfortunately, there are no reviews or rating available for this indicator, there are a few comments from potential customers that the creator seems to be responding to quite quickly, however, without any actual reviews, we do not know whether the users are finding it easy to use or if it does actually do what it says it will. We would suggest downloading and trying the free version, just so you can get an idea of how it works and that you are able to get it set up correctly.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/4042

Categories
Forex Service Review

PZ Trend Trading Indicator Review

PZ Trend Trading is currently found within the indicators section of the MQL5 marketplace. It was created by Arturo Lopez Perez and was first uploaded to the marketplace on the 6th of December 2013, it was most recently updated on the 18th of February 2019 and is currently at version 5.0.

Overview

PZ Trend Trading is an indicator for the MetaTrader 4 trading platform, it was created to profit from trends taking place within the markets. It will time pullbacks and breakouts by analyzing what the price is doing during already established trends.

The main features of the indicator:

  • Profit from established trends without getting whipsawed
  • Recognize profitable pullbacks, breakouts and early reversals
  • The indicator analyzes its own quality and performance
  • It implements a multi-timeframe dashboard
  • The indicator is non-repainting
  • It implements email/sound/visual alerts

There are a number of parameters available these include things like the indicator period, to display the sub-trend, pullbacks, breakouts, corrections, the maximum number of bars to use, to display statistics, drawing settings, alerts, and more.

Service Cost

The indicator can currently be purchased for $299, this is a one-off payment and will allow you to activate the indicator up to 100 times. There is also the option to rent it on a monthly basis which will cost you $49 per month. There is a free demo version that is usable with the strategy tester within the MetaTrader 4 trading platform.

Conclusion

There are only three reviews available but they are all positive giving the indicator an overall rating of 4.5 out of 5.

“Very good indicator. I trade it with an EA. Very strong and profitable. Thank you, Arturo“ – A 5-star review.

“A very simple and easy to use.” – A 5-star review.

“I use this indicator in an EA I wrote, and for this purpose, it is very helpful. I just use a couple of basic signal confirmations and proper money management. However, for manual trading, I don’t think this indicator is necessary. The signals it provides are noticeable to the eye of most successful traders. For automated trading, I give this indicator 5 stars. For manual trading, I give it 3.” – A 4-star review.

So the reviews are very positive which is good to see, there are also over 100 comments, the developer was originally replying to most of them, but the most recent one in 2019 has not had a reply, in fact, the last reply was back in 2017. Due to this, we would suggest sending your queries to the developer to see if they reply, if they do then it is a good sign that the indicator is still being actively supported.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/1422

Categories
Forex Service Review

EA Ríchu 2.0 EA Review

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

Overview

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

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

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

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

Service Cost

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

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

Conclusion

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

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

Categories
Forex Service Review

HL Panel Custom Multi-Symbol Indicator Review

HL Panel can be found on the MQL5 marketplace under the indicators section, there may be others with similar names so we have provided a link below to the one we are looking at. First uploaded on the 12th of January 2018 by Tsvetan Tsvetanov, it was updated on the 19th of January 2018 and this brought it up to version 1.1.

Overview

The HL Panel is an indicator for the MetaTrader 4 trading platform, its main purpose is to detect breakouts and it will give you real-time signals when the price reaches new daily, weekly, or monthly highs and lows. The panel will also allow you to switch symbols quickly.

The main features of the indicator:

  • The indicator detects breakouts in real-time and gives visual signals with text and color
  • Simultaneous signals from 3-time frames. (Daily, Weekly, Monthly)
  • Automated alerts.
  • The interactive panel which gives you the ability to switch the symbol on the chart instantly with one click
  • Horizontal levels with price labels on the chart
  • The indicator is automatically synchronized with the Market Watch window in Meta Trader 4 where you can set lists with your favorite symbols
  • The indicator works very well in combination with the Interactive RSI Matrix. This way not only you can detect the breakouts, but also you can see the strength of the breakouts
  • Multiple confirmations from different indicators create stronger signals

There are also a number of different settings available that can alter the way the indicator functions. Some of the available settings include the number of symbols, to how the daily, weekly or monthly signals, alerts, panel sizes, fonts, colors, and multiple other options too.

Service Cost

The HL Panel can be purchased for $30, this will give you an unlimited version without any limitations, there is also the option to rent it, this will cost you $12 per month to rent.

There is a free demo version, it is very limited as it will only work on the strategy tester and will only work with one pair, even though it is limited, we would suggest downloading it just to see how it works.

Conclusion

At the time of writing this review, there were three reviews available, they are giving the indicator an overall rating of 4.5 out of 5.

“IT WORKS” – A 3-star review.

“Good utility panel.” – A 5-star review.

“I absolutely love this panel, the best high low panel on here. The seller is fast to respond to emails. 5 stars :)” – A 5-star review.

The reviews are all relatively positive and show that the indicator is doing what it is meant to do. There are also a number of comments, the developer seems to be doing a good job replying to the questions and queries which is a good sign as to the kind of customer support you will receive should you decide to purchase the indicator. In regards to purchasing it, we would suggest trying out the limited free version just to make sure you can get it set up correctly and that it will work as intended for you.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/27331

Categories
Forex Service Review

Gold Treasure Hunter Expert Advisor Review

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

Overview

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

Some of the main features of the expert advisor:

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

Some additional features of the EA:

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

FX Multi Recovery EA Review

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

Overview

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

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

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

Double Power Gold Expert Advisor Review

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

Overview

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

The main advantages of the EA:

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

Euro Forecaster (EUR/USD H1) EA Review

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

Overview

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

Some of the main features of the expert advisor:

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

Candle Painter Indicator Review

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

Overview

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

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

Service Cost

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

Conclusion

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

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

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

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

Categories
Forex Service Review

Apogeum Price Action EA Review

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

Overview

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

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

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

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

Service Cost

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

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

Conclusion

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

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

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

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

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

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

Categories
Forex Service Review

All Hail the Queen EA Review

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

Overview

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

The developer has mentioned the following bits of information:

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

The main features of the expert advisor:

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

Ain’t No Trend Expert Advisor Review

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

Overview

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

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

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

MA Alerts with Arrows Indicator Review

MA Alerts with Arrows can be found within the indicators section of the MQL5 marketplace, we have provided a link to it just in case there are others with similar names. The indicator was first uploaded on the 13th of March 2019 by its creator Yurij Izyumov. There haven’t been any further updates to the current version, so it remains at version 1.0.

Overview

The MA Alerts with Arrows indicator was designed for the MetaTrader 4 trading platform, the indicator works by giving you signals about the intersection of two moving averaged, as well as giving you signals about price rollbacks.

Some of the main features of this indicator:

-To display or hide the moving averages and arrows themselves.
-To display together or separately signals on the intersection of MA and the price reverts to the moving average.
-To receive notifications about both crossing and touching the moving averages of each other.

The kinds of alerts available:

  • Sound and text alerts (alert).
  • Push notification to the mobile terminal.
  • Email notification (message to your e-mail).
  • Visual alert (arrows on the chart).

There are also a number of parameters and settings available to change, some of them include the moving average time period, the color on the graph, which signals to have, to enable arrows, to enable alerts, to enable sounds, and more.

Service Cost

The indicator will currently cost you $30 to purchase it outright, there is also an option to rent it on a monthly basis, this will cost you $10 per month. There is a free version available, but we do not know what the limitations of the free version are.

Conclusion

There aren’t any reviews or comments available for this indicator so it is impossible for us to know if it is performing how it is supposed to, due to this we would highly recommend that you download the free version to test out, also get in contact with the developer with any questions that you may have.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/14280

Categories
Forex Service Review

Jimdandy Trade Management EA Review

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

Overview

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

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

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

Service Cost

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

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

Conclusion

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

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

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

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

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

Categories
Forex Service Review

KFX Support and Resistance Modified Review

The KFX Support and Resistance Modified can be found on the MQL5 marketplace within the indicators section. We have added a link to it below so you cans ee exactly which indicator we are looking at. The indicator was created by Marcel Kirchhof and was first uploaded on the 15th of March 2018, there have not been any further releases so the current version of the indicator is version 1.0.

Overview

The KFX Support and Resistance modified is an indicator that can be used with the MetaTrader 4 trading platform. The indicator was designed to help you find support and resistance levels, it also helps to increase the number of confirmation for stronger levels. The indicator will use information from multiple timeframes and not just the one it is attached to, it also allows you to show strong levels of support and resistance where the price respects a level more that one time.

How the indicator works:

-For smaller timeframes up to M30, I recommend at least 3 confirmations. This filters stronger levels with subsequent strong movements.

-For larger timeframes of H1, I recommend 2 confirmations. In these timeframes, subsequent strong movements are often seen after 2 confirmations.

There are a few parameters that can be altered to help make the indicator more suit your own requirements:

  • Range – the range is a lookback window, number of bars. within those 10 bars must be at least 3 with a low below the level, high above the level, and close below the level.
  • Confirmations – number of confirmations
  • Res line color – adjustable color for the resistance line
  • Sup line color – adjustable color for the support line

Service Cost

The indicator can be purchased for $30, this will give you unlimited access to it, there is no option to rent the indicator so the only option available is to purchase it outirght., The site does have a free version available, this will come with some limitations, however, the website does not indicate what the limitations are, it is always worth downloading and trying the free version.

Conclusion

There are no reviews or comments for this indicator, due to this we do not know if people using it are finding it useful or not, so we would highly recommend that you download and try out the free version, this will give you an idea of how well it works prior to making a purchase. You should also contact the developer with any questions that you may have, this is another way of ensuring that it has the features that you need prior to buying it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/28376

Categories
Forex Service Review

Info Plus FX Indicator Review

Info Plus can be found on the MQL5 marketplace and is under the indicators section. There may be others with similar names so we have added a link to it below. The indicator was created by Richard Waweru and was first uploaded on the 30th of March 2017, it was most recently updated on the 19th of November 2018 and is currently at version 1.4.

Overview

Info Plus is an indicator that can be used with the MetaTrader 4 trading platform that aims to provide you with additional information about the markets and charts that you are viewing.

Info Plus will give you the following bits of information:

  • Bid Price
  • The high and low of the day
  • Candle time left
  • Current spread
  • Selected timeframe
  • The asset class selected (Symbol)
  • Pip value
  • Open Positions
  • Total pips booked
  • Pips per trade
  • Session times (they may not be accurate and are subject to changes)
  • Date and time

There are also some additional parameters available that can be used to change the way the information is displayed, some of the options include the header and footer position and location, the colors for each bit of individual information such as pips, font size and type, symbol colors and more.

Service Cost

The Info Plus indicator is completely free, no charge at all, due to that there is also no rental options or demo versions, the full version comes completely free and fully functional. So it may be worth downloading just to see if it works for your needs.

Conclusion

18 reviews in total, giving it an overall rating of 5 out of 5.

“Indicator provides you what you need to know when you need to know it…” – A 5-star review.

“Very good indicator and easy to use and read, a must-have on all charts” – A 5-star review.

“Very good, thank you.” – A 5-star review.

The reviews are all very positive which indicates that it is doing what it was designed to do, there are plenty of comments, the developer has been replying to some but not many of the more recent ones which are a slight concern, we would recommend sending any queries that you have to the creator, if they reply at lease you will know that they are still supporting the indicator, as it is free, it could be worth downloading just to see if it suits your needs.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/21611

Categories
Forex Service Review

Semafor 3LZZ Scanner Dashboard Review

The Semafor 3LZZ Scanner Dashboard can be found in the Indicator section of the MQL5 marketplace, the scanner has quite a distinct name, but we have provided a link below just to make sure that you know exactly which item we are looking at. The indicator was first uploaded on the 22nd of August 2019, it was created by Abir Pathak and has recently been updated on the 7th of January 2020, this brought the indicator up to version 1.4.

Overview

The Semafor 3LZZ Scanner Dashboard is an indicator that has been created for the MetaTrader 4 trading platform, the indicator works by using the 3LZZ indicator in the background in order to find semafors, it will look for level 3 semafors as they specify a strong signal.

The dashboard displays a number of different things, the meanings of them are:

  • Green font 1 or 2 or 3: Bearish Semafor 1 or 2 or 3 on the current bar
  • Red font 1 or 2 or 3: Bearish Semafor 1 or 2 or 3 on the current bar
  • Orange 1/1 or 2/2 or 3/3: Both Bullish and Bearish semafors on the current bar           (very rarely occurs)
  • Green Block: 3(4): Bullish Semafor 3 occurred 4 bars back
  • Red Block: 3(2): Bearish Semafor 3 occurred 2 bars back
  • No semafors
  • Semafor 3 in previous bars but hidden because higher timeframe has a current bar      semafor

There are also a large number of settings available, these can alter the way that the indicator functions and also displays its information to better suit your own requirements. Some of these settings include specifying your own pairs, preferred timeframes, settings for showing popups and alerts, font sizes, to check previous bars, and many other options are also available.

Service Cost

The indicator will currently cost you $40 to purchase it outright when purchasing it, you will be granted unlimited access with no restrictions. If you would prefer to rent it instead, there are two options available, you can rent if or one month which will cost you $10 per month, you are also able to rent it for a three month period which will cost you $20 every three months. A free demo version is also available. However, this will have some limitations on it, we do not currently know what the limitations are.

Conclusion

There are just two reviews available for the Semafor 3LZZ Scanner Dashboard indicator, both of them are giving the indicator a 5 out of 5 reviews.

“EXCELLENT FOR FINDING NEW TRADES TO ENTER. LOVE IT!!!”

“If you use and like this indicator which I do, then you should love this scanner!”

There arent many reviews, but the two available show that the dashboard does seem to be working, there are also a number of comments, the creator seems to be replying to each comment, there is a little delay but nothing that wouldn’t be expected, hopefully, the same response is given to those that have purchased the indicator too. As always, make sure you download and try out the free version, just to make sure it works for you and has the features you need before you put any money down for a purchase or rental.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/41459

Categories
Forex Service Review

ReitakFX ProTrend EA Review

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

PipFinite Impulse Pro Indicator Review

PipFinite Impulse PRO can be found in the MQL5 marketplace under the indicators category. We have provided a link to it below. The indicator was first uploaded by its creator Karlo Wilson Vendiola on the 21st of May 2018, it was most recently updated on the 1st of January 2020 and is currently at version 3.0.

Overview

The PipFinite Impulse PRO is an indicator designed for the MetaTrader 4 trading platform. The indicator was created to help prevent losses during periods of dramatic movements within the markets.

The main advantages of the indicator:

  • Early impulse detection algorithm.
  • Flexible combination of different trading strategies.
  • Advanced statistics calculation following the entry point, take profit and exit signal.
  • Never repaints, never back paints, never recalculates.
  • Signals strictly on the close of a bar.
  • Works in all symbols and all timeframes.
  • Integrated pop-up, email, push notifications, and sound alerts.
  • Fully compatible with the Expert Advisor (EA) development.

The indicator also comes with a number of parameters that can be used to help alter the way that the indicator functions, some of them include the volatility period, the volatility factor, the take profit factor, the maximum number of historic bars, misc parameters, display parameters, graphics parameters, dashboard parameters, and alert parameters.

Service Cost

The indicator will currently cost you $88 to purchase it outright without any limitations and wish unlimited use. There is also an option to rent the indicator, this will cost you $58 per month, you can also rent it for three months which will cost you $78 for that period. There is a free demo version mentioned on the site, it does not, however, mention any possible limitations that we know will come with the free version, it is always worth downloading and trying out though.

Conclusion

At the time of writing, there are currently 60 different reviews for the indicator, the overall rating from these reviews is 5 out of 5 stars.

“All PipFinite indicators are spectacular, but IMPULSE PRO exceeds all expectations. Thank you, Pipfinite team, 5 stars for your indicators and support!” – A 5-star review.

“Acquired PipFinite Impulse Pro, MT4. I studied it on the materials on the site. It seems to me a very promising tool that facilitates the work of the trader and the analysis of graphs. I hope for a good profit.” – A 5-star review.

“I recently purchased Impulse Pro and it’s crazy how well it’s working for me. Within the first couple hours, I closed out 7 of 10 trades for a 200 pip overall profit. I’m a repeat customer of Pipfinite, and I couldn’t be happier with this latest product. Thanks.” – A 5-star review.

So the reviews are all pretty positive which his a great sign, even with all the positives, we would still highly recommend that you download the try out the free version before you make a purchase, this way you can be sure that it works for you. The comment section also has plenty of activity, the developer has been replying to comments and questions which is really good to see, and it is a good sign as to the kind of customer service you will receive once you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/29188

Categories
Forex Service Review

Open Lock EA Review

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

Overview

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

The expert advisor has three methods:

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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

Categories
Forex Service Review

New Horizon EA Review

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

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

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

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

Categories
Forex Service Review

Miser 4 Intraday Trading System (EA) Review

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

Overview

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

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

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

https://youtu.be/zyUTT9RI16I

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

M15 Trigger Scalping Indicator Review

M15 Trigger Scalping can be found on the MQL5 marketplace under the Indicators category. It was created by Kenneth Parking and was first uploaded on the 29th of June 2016, there have not been any further updates and the indicator is still at version 1.0.

Overview

M15 Trigger Scalping is an indicator for the MetaTrader 4 trading platform, its main purpose is to act as a manual trading indicator. The indicator will apply some trigger lines to the charts when the trigger line becomes blue and a candle closes above the line, a buy order should be placed, when it becomes red and the candle closes below a sell order should be placed.

The main list of features described by the developer:

  • User-friendly setup, no complicated parameter setups!
  • Developed ONLY for M15 and comes with predefined values
  • Easy to understand, no messy chart information!
  • Works on all Forex currency pairs
  • Developed to fit booth novice and skilled traders

There are also some parameters and settings available, these include the spread text color, spread text location on the chart, and the spread text size.

Service Cost

The indicator is relatively cheap at just $10 to purchase it, this will give you up to 5 activations with no further limitations. Due to the low price there is not an additional option to rent the indicator so the outright purchase is the only option available. A free demo version is present, this version is limited to the strategy tester within the MetaTrader 4 trading platform.

Conclusion

There is just the one review is available, giving the indicator a rating of 5 out of 5.

“Works great, good customer support.” – A 5-star review.

The singular review is positive but does not give a lot of information, there are also a few comments, the developer has been replying to each one which shows that they are willing t offer support for their indicator, the most recent comment was nearly a year ago so we would still recommend that you send any questions that you may have to the developer before making a purchase, this was you can make sure that the indicator will do what you need it to and that the creator of the indicator is still there to support both the indicator and you as a customer.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/16987

Categories
Forex Service Review

King of EUR/USD Expert Advisor Review

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

Overview

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

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

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

Service Cost

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

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

Conclusion

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

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

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

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

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

Categories
Forex Service Review

Lighthouse Support and Resistance Indicator Review

Lighthouse is a utility that can be found in the indicator section of the MQL5 marketplace, we have provided a link to it below as there may be other indicators with similar names. The indicator was first uploaded on the 15th of Aril 2014, it has had many updates, the most recent being on the 18th of February 2020 which brought the indicator up to version 3.34.

Overview

Lighthouse is an indicator designed for the MetaTrader 4 trading platform, it works by displaying the most important trading levels and then draws them in accordance with their relevance.

The main features of the indicator:

  • Automated adjustment to the underlying time frame
  • Displays only significant support and resistance levels
  • Immediate graphical response if a level is clearly broken
  • Thicker drawn SR levels are more important than thinner ones

General settings:

Analysis mode: Select between three different scan modes (intraday, medium, and high time frames) or use the automatic adjustment which is set by default.

Sensitive mode: The sensitive mode identifies more support and resistance levels. We recommend using it if you are an intraday trader. Set this to false if you like to reduce the number of drawn SR levels.

SR Distance in Pips: This changeable value is the basis for the built-in support and resistance level distance check. It measures the distance between the current price and the next Lighthouse levels.

There is also a range of other settings for graphics and notifications such as the ability to turn them on or off, have the colors, backgrounds, types of alerts, and messages.

The developer of the indicator also offers a support service as well as a change group available to purchasers where you can discuss strategies and tool usage, as well as receiving any help that you may need.

Service Cost

The indicator will cost you $49 to purchase outright (this is a reduced price and it is originally priced at $99), you are also able to rent it, you can choose between 3 months and 1 year, to rent it for three months it will cost you $29, to rent it for one year it will cost you $39. There is also a free version available, but the site does not indicate what the limitations of the free version are or whether there is a time limit to its use.

Conclusion

There are currently 82 reviews available for this indicator, they are giving it an overall rating of 5 out of 5 which is a fantastic score to have. It should be pointed out that the creator is offering an exclusive chat group for those that leave a review, so some of them may have been provided simply to get into that group.

After searching for a trading system and trying many indicators for a long time, I finally found indicators that suit my trading style and help me to improve my trading performance. I totally recommend combining Daniel’s tools (Fx Trend, Fx Power, and Lighthouse). His support and the community built around the usage of his tools are awesome.” – A 5-star review.

After using it for some months, I have to admit that this is the best horizontal support and resistance indicator that I know of. I don’t follow its go or wait for signals. I just use it for stops and targets and make lines thinner (2 and 1) as they are a kind of too thick. Many thanks to the author. If you trade every day and for living this is an extremely useful tool to have.” – A 5-star review.

The vast majority of reviews are extremely positive, they are indicating that the indicator works as it is described and that the creator is helpful and offering good support. Even with all of this great feedback, we would recommend that you check out the free version, it will help you make sure that the indicator suits your needs as well as ensuring you are able to get it set up correctly.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/3941

Categories
Forex Service Review

Infinity TrendLine Pro Indicator Review

Infinity TrendLine Pro is an indicator that can be found within the MQL5 indicator marketplace. They may be others with similar names so we have provided a link to ensure that you are looking at the same indicator that we are. The indicator was first uploaded by Evgenii Aksenov on the 20th of February 2019, it has had a number of updates, the most recent of which was on the 13th of March and this brought it up to version 8.9.

Overview

The Infinite Trendline Pro is an indicator that can be used with the MetaTrader 4 trading platform, there is another version available for the MetaTrader 5 platform too.

The indicator works by analyzing the strength of bulls and bears (buys and sells). It will show you a highlighted trend line including an entry point and recommend take profits and stop losses. It will also provide a signal as to whether you should buy or sell. You can use the indicator on any currency or asset.

There are a number of settings available for the indicator, they can be changed to alter the way it functions, some of these include the calculation type, the amplitude, range bars, take profit settings, calculation periods, whether to shift stop losses, a higher timeframe filter, time filter, and more.

Service Cost

The Infinity Trendline Pro can be purchased outright for $75, unlike many others, there is not an option to rent this indicator. There is a free version available, but there is no information about what the limitations are on this free version.

Conclusion

There are 112 reviews available for this indicator which shows that it is quite well used, the overall rating of the indicator is 5 out of 5 which is a very big positive.

“Quite impressive on this indicator together with TradeUtility for auto or semi-auto trading in most pairs. Will keep on going to test with different parameters” – A 5-star review.

“An excellent indicator, simple to use and the best bit is you make more than what you’ve paid for it within a couple of trades. Thanks” – A 5-star review.

“Forget signals, this is the only realistic option if you want to make a profit and not simply waste time. Yes, there are gremlins and glitches; but they are few, and, for the main part, this is really nice indicator with excellent support.” – A 5-star review.

There are plenty of very positive reviews, there are also a lot of comments, the creator of the indicator is replying to most of them which can show that the support being provided is of high quality. As with any indicator, we would suggest downloading and trying out the free version before making a purchase, this way you can make sure that it is working as intended and that you are able to get it set up correctly.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/36087

Categories
Forex Service Review

Horizontal Channel Alert with Custom Fibo Review

Horizontal Channel Alert with Custom Fibo can be found within the MQL5 marketplace under the indicators heading. It was first uploaded to the marketplace on the 13th of October 2017 by its creator Yurij Izymunov and received a number of updates. It was most recently updated on the 7th of January 2019 and is currently at version 1.7 of the software.

Overview

Horizontal Channel Alert with Custom Fibo is an indicator designed for the MetaTrader 4 trading platform (a MetaTrader 5 version is also available). The indicator was created to trade during horizontal channel breakthroughs, it will search for prices that are exceeding the extreme points and then bouncing back, it will offer you sound alerts any time that this occurs.

The indicator is able to plot channels both at high/low and open/close prices. The indicator will automatically attach the channels to the prices, the channel area can be expanded or reduced on the chart, it can also draw horizontal and Fibonacci levels on the timeframe that you need without removing any other details.

There are also some settings that come with the indicator, these include reverse Fibonacci levels, to auto-build Fibonacci levels by range, time range, the color of channels, channel width, channel length, alerts, notifications, to limit alerts, price mode, custom Fibo lines, and more.

Service Cost

The indicator can currently be purchased for $30, this is a one-time payment that will get you up to 1000 product activations. There is also an option to rent the indicator, this can be done monthly and will cost you $10 per month.

Horizontal Channel Alert with Custom Fibo also offers a free demo version, this will only be usable with the strategy tester within MetaTrader 4 but may still be worth downloading to try out before you make a purchase.

Conclusion

Unfortunately, there aren’t currently any user reviews or ratings, so we do not know whether people are finding it useful and that it does what it was designed to do, there are some comments from people who have purchased or rented it, they are mainly asking for support, the developer has been replying to each one which is a great sign as to the kind of support you would receive. There have not been any comments since the start of 2019, so before making a purchase, we would suggest sending any queries that you have to the developer, this is a way to check that there will still be some support once it has been purchased.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/25834

Categories
Forex Service Review

Halo M15 Automated Expert Advisor Review

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

Fast Copy MT4 Trade Copier Review

The Fast Copy MT4 utility is designed to copy trades between account sand platforms, it is currently available on the MQL5 marketplace. To avoid confusion, we have included a link below in order to show exactly which piece of software we are looking at. The current version (at the time of writing) is version 3.13 and was last updated on the 24th of November 2019.

Overview

The Fast Copy MT4 utility is designed to copy trades between your accounts and different terminals, the software can copy from MT4 to MT4, MT4 to MT5, MT5 to MT4, and MT5 to MT5, although if you wish to copy to MT5 you will need to purchase an additional piece of software for that platform.

The main features of this trade copier are:

  • One tool for sending and receiving transactions: [master] or [slave] operation              mode can be selected in the program
  • One provider [master] can copy trades to multiple receivers [slave] accounts
  • One receiver [slave] can copy trades from multiple providers [master] accounts
  • Absolutely compatible between MetaTrader 4 ↔ MetaTrader 5 as well as Netting ↔        Hedge order/position accounting systems
  • Copying SL and TP — optional. It is possible to set custom SL and TP levels for            trades opened by the program
  • Copying Buy Limit, Sell Limit, Buy Stop and Sell Stop pending orders — optional
  • Receiver’s account [slave] can still trade manually or use other EAs without any            conflict
  • The ability to copy any characters in any combination. By default, the most suitable      pairs will be offered, then you can select any pair
  • Ability to copy trades and orders depending on their Magic Number
  • Restore all settings and status after the terminal closure
  • Easy usage and friendly interface
  • Execution speed

There is also a wide range of parameters that can be altered in order to change the functionality of the software. These include things like multipliers, balance ratio, whether to copy buys, sells, take profits, stop losses, and more.

Service Cost

You are able to purchase this piece of software for $55, you are also able to pay for it monthly which will cost you $12 per month. A free demo version is also available, however, we do not know what the limitations of this free version are.

Conclusion

There are 37 reviews on the site which an average rating of 4 ½ stars.

“Good product I have used both fastcopymt4 and mt5, and the author is very responsive. Great Job!” – a 5-star review.

“There must be a bug in the code as the EA has just opened 10 random trades for a major loss.” – a 1-star review.

“Fast copy speed, but partial close doesn’t work -> partially closing the order from the master account will close the entire order on the slave and then open a new one with different price.” – a 4-star review.

So as you can see a mixed bag of reviews, but the majority are very positive, due to the mix in reviews they seem a lot more legitimate. However, when buying new software, we would always recommend downloading the demo version of the software, just to make sure that it does what it is meant to and that you are able to set it up correctly.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/18932

Categories
Forex Service Review

Enter Use Fibonaci EA Review

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

Donchian Safe FX EA Review

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

Overview

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

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

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

Long Exit:
RVI changes its direction upward

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

Short Exit:
RVI changes its direction downward.

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

Service Cost

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

Conclusion

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

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

Categories
Forex Service Review

CCI Signal Indicator Review

CCI Signal can be found on the MQL5 marketplace, we have added a link to ti below so you can see exactly which indicator we are looking at. The indicator was uploaded by Oliver Gideon Amofa Appiah its creator, it was first uploaded on the 29th of August 2018, it has been updated on the 3rd of September 2018 and is currently at version 1.20.

Overview

CCI Signal is an indicator for the MetaTrader 4 trading platform, the indicator is based on s custom CCI that will be colored in order to reflect the current trend. The indicator does not repaint and can be used when scalping, day trading, and swing trading.

The indicator can be used by following the colors:

  • Bright RED signifies strong SELL
  • Dull RED signifies weak SELL (take profit or use trailing stop)
  • Bright Green signifies strong BUY
  • Dull GREEN signifies weak SELL (take profit or use trailing stop)

Service Cost

You can purchase the CCI Signal indicator for $60 with no limitations and unlimited access. You are also able to rent the indicator, this can be done in three month period which will cost you $30, or you can rent it for one year which will cost you $45 for the year.

There is also a free demo version available, this version will have some limitations but what they are is not mentioned on the site, it is always worth downloading and trying out the free versions of the indicators though.

Conclusion

There is only one review but it isn’t really a review, it is more of a question and should have been within the comments section, there is only one comment in the comment section, it was posted a month ago and the developer still has no answered the questions which is not a good sign regarding the sort of customer services that you may receive. Due to the lack of reviews and the lack of response from the developer, we would highly suggest that you download and try out the free demo version and also send a query to the developer, this way you can be sure that the developer is still supporting the indicator and that the indicator functions the way that you need it to.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/31365

Categories
Forex Service Review

Blazar Automated EA Review

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

Overview

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

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

Some of the main features of Blazar are:

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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

Categories
Forex Service Review

Advanced Fibonacci Tool Review

Advanced Fibonacci Tool can be located within the indicators section of the MQL5 marketplace, there may be several Fibonacci tools so we have provided a link to the exact one that we are looking at. The indicator was uploaded by its creator Onur Uzuncakmak on the 20th of September 2017, it was last updated on the 16th of November 2016 and is currently on version 1.2.

Overview

Advanced Finobbacci Tool is an indicator designed for the MetaTrader 4 trading platform, there is also a MetaTrader 5 version available too. Its main purpose is to give a more advanced version of the standard Fibonacci levels indicator and will draw the levels onto the charts.

Some of the key features of the indicator:

-Drawing of Fibonacci retracement and expansion levels using hotkeys.
-Auto-adjusting of retracement levels once the market makes new highs/lows.
-Ability to edit/remove any retracement & expansion levels on the chart.
-Auto snaps to exact high and low of bars while plotting on the chart.
-Getting very clear charts even though many retracement and expansion series marks.

In terms of parameters, there is a number available that you can alter. Some of the options include the text font, font size, color of retracement levels, the color of expansion levels, width of resistance and expansion levels, custom retracement, and custom expansion.

Service Cost

The Advanced Fibonacci Tool can be purchased with a one-off payment of $89 which gets you unlimited access and no limitations. Unlike many indicators on the MQL5 marketplace, there is no option to rent it. There is also a free demo version, this will have some limitations attached to it, unfortunately, the site does not indicate what they are so we cannot say for sure, it may still be worth downloading to try out, just to see if it functions how you need it to be for making a purchase.

Conclusion

There are only two reviews for the indicator but they are both positive giving it an overall rating of 4.5 out of 5.

Best Fibonacci Indicator in the market!!” – A 5-star review.

Please add some function for multi-timeframe” – Not really a review but it gave 4-stars.

So the indicator has received some good rating and the developer has been replying to comments offering support which is a good indication towards the type of post-purchase customer support that you will receive. We would advise you to try out the demo version, and send any queries you have to the developer so you can be sure that it is the right indicator for you before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/5577

Categories
Forex Service Review

Advanced Currency Strength28 Indicator Review

The Advanced Currency Impulse with Alert is an indicator that can be found on the MQL5 market. We have added a link below so you can see exactly which indicator we are looking at. This indicator was originally released back on the 7th of September 2016, it was last updated on the 6th of January 2020 and is now at version 3.0 (at the time of writing).

Overview

The Advanced Currency Impulse wit Alert is an indicator designed to be used with MetaTrader 4, it uses some of its own proprietary features in order to function. The indicator is able to give alerts for 28 different currency pairs. It will show you whether the strength of a currency is growing or falling and bases its indication of potential trades on that information.

The indicator also uses the dynamic market Fibonacci 23 level in order to trigger alerts. These alerts can be within the trading window or via an email address and will indicate what sort of trade should be placed, you must place the trades manually though.

There are a number of different parameters available to change to help alter the indicator to better suit your requirements. You are able to select what the lines and graphs look like in terms of colors, thickness, and more. You are able to set up alerts within the window nad on which candles, to set it to draw additional or fewer lines and other alterations like that.

Service Cost

You are not able to purchase this indicator outright, instead, you need to rent it, you can rent it for three months for $62, however you can also rent it for one year for $78. There is also a free version available, but it does not indicate what the limitations of this version are or whether there is a time limit to its use.

Conclusion

There are 283 reviews for this indicator the overall rating is at 5 out of 5 which is very impressive. However, sometimes when everything is positive, it can look a little suspicious, there are a couple of negative reviews but the vast majority are positive.

Taken by how much I have been impressed by Advanced Currency Strength28 Indicator I have also decided to rent this indicator for 1 year. In this case, I have seen that Impulse, although in my humble opinion I think it is a little below in terms of the strength of signals offered by Advanced Currency Strength28 Indicator, I also think however that they can be perfectly complemented. 5 stars.” – A 5-star review.

Bernhards indicators look very promising and he provides very good support” – A 5-star review.

I won’t rent it again. Waste of time and money.” – A 1-star review.

Some decent reviews, but a single negative, while the indicator looks very promising, we would recommend using the demo version for a while to make sure that it does in fact function how you desire and that you are able to get it set up properly before renting it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/18155

Categories
Forex Service Review

BF Scalper EA Review

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

Overview

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

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

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

Service Cost

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

Conclusion

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

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

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

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

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

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