Summary
This expert adviser for the MetaTrader platforms, known as Forex Trend Detector, monitors the foreign exchange market in search of trend trading indications. You can connect the software to the charts of your currency pairs, and it will seek forex signals based on the trading algorithm that is already integrated into the software. The Forex Trend Detector EA is able to place, manage, and close positions on your behalf after it has determined that a possible signal has been found. In spite of the fact that this makes it a fully automated forex trading system, it is also possible to set the robot to run in a semi-automated mode. In this mode, it will send you an alert whenever there is a signal, and it will be up to you to decide whether or not to place a trade manually. In this Forex Trend Detector Review, we are going to examine some of the most crucial aspects of the software, including its approach and, perhaps most importantly, its proven track record of success.
Pros
• A fully automatic foreign exchange robot
• Settings that may be customized
• Compatibility with the MetaTrader 4 and MetaTrader 5 platforms
• A time management system
• A broker protection system
• The members-only area
Cons
• There are no backtests of 99% modelling quality
• There are just a few currency pairs traded
• Myfxbook account was removed
• MetaTrader 4 only
• Requires very stringent broker criteria
Strategy
The Forex Trend Detector EA follows a trend trading technique, as one can reasonably infer from the name of the product. A trading strategy known as trend following or trend trading is based on the idea that an investor should look to buy an asset when its price trend is going up and sell when its price trend is going down, with the expectation that the price movements will continue. Because there are trends that can be traded both up and down, trend following has been successful in the past, can be successful now, and may be successful in the future for the simple reason that trends exist. In the world of internet trading, there is a proverb that goes something like this: “the trend is your buddy.”
Trading software use a strategy that is referred to as the volatility breakout play. It is a complex series of market observations followed by trading activities that are taken with the intention of capitalizing on a trend in the market. The creators assert that this cycle is so easy to forecast that seasoned fund managers and institutional traders rely on these breakouts to determine their profit goals. The system validates the indicators using advanced statistical approaches based on the study of years of raw market data.
The steps of the process are as follows:
1. Be aware that a session on the market that has been tumultuous is going to come to an end.
2. Determine the ranges of volatility that are contained within the predominate market trend. Pay extra close attention to any circumstances in which the volatility borders are located around critical market levels.
3. Program your trades to automatically take place depending on the expected price levels, so that you can profit from the rebalancing of the market once the volatility breakout takes place.
Forex Trend Detector is programmed to adapt to the current market conditions. Because each trading session presents its own unique challenges, it is essential for an automated trading system to be flexible enough to accommodate these changes. This advanced machine makes use of a polynomial algorithm, which enables it to make real-time adjustments to the parameters of the system. The trading algorithm that has been implemented is subjected to continuous testing, review, and reevaluation in order to help ensure that it continues to be up to date and applicable in today’s forex market.
They have taken their years of experience in creating a variety of trading software and coupled it with their knowledge to create a one-of-a-kind trend trading robot that can be used in either the MT4 or MT5 trading terminals.
In order for an Expert Advisor (EA) for MetaTrader to function properly on your computer, the MetaTrader platform must be open and active on your computer. Because it is not always possible to have your home machine turned on, some forex traders may look to use a Forex virtual private server (VPS), which can be a helpful way to remotely run your trading platforms 24 hours a day, seven days a week without the need for the trader’s own personal computer or laptop to be turned on.
Features
The following is a list of some of the significant features that are included in the Forex Trend Detector Robot:
Trading Platform that is Fully Automated
The software is able to perform an analysis of the foreign exchange market and automatically trade in accordance with the algorithm that is pre-programmed into the software as well as any external factors that are specified by the user. As long as the MetaTrader platform is operational at all times, it is able to manage open trades and close positions.
Customizable Settings
Although the Fxautomater team has provided default settings that are based on many years of development and testing, users are free to change all of the input settings to match their own trading style and risk preferences. This is despite the fact that the Fxautomater team has provided default settings.
Managing One’s Finances
The Forex Trend Detector EA comes equipped with a full suite of money management functions, such as stop loss, take profit, trailing stop, position size, and many more. You are free to customize the settings to a level at which you are most at ease, or you can stick with the factory defaults. You have the option to select a fixed risk %, in which case the EA will automatically determine the lot size; alternatively, you can choose to utilize fixed lots if that is what you would rather do.
Time Management System
Because the program is equipped with a time management system, it will only make trades during what it considers to be the most profitable hours of the market based on the automated trading strategy that is at its core. There are numerous different trading systems, and their performance might vary greatly depending on the hours in which they are used. For example, a system that demands minimal volatility may only trade after the New York market has closed and prior to the Asian market opening when volatility can be lower.
System for the Protection of Brokers
When the broker conditions are not thought to be appropriate, the expert adviser will not allow trading because it is equipped with protective systems against excessive spreads and high slippage. Due to elements such as the spread and slippage, it is not unusual for brokers to produce results that are inconsistent with those produced by traders utilizing the same trading tactics. This is why it can be necessary to avoid trades when spreads and slippage are excessively large.
Members Only Section
Anyone who makes a purchase of the Forex Trend Detector EA will be granted access to the unique members-only section of the website. From here you will be able to keep up to speed with the latest advancements to the Forex Trend Detector robot whilst you will also receive rapid access to the Fxautomater support team, software updates and some easy to follow training.
Results
You will probably be looking at the most recent outcomes when making a decision about which trading robot is the best fit for your requirements when it comes to trading. In order to obtain an idea of how a specific forex robot may have fared over prior market data, we would always look for up to current and confirmed real trading account performance in addition to some historical backtests. This was done to get an idea of how a given forex robot may have traded.
Myfxbook Forex Trend Detector [Forex Trend Detector]
The members of the Fxautomater team have made public an actual verified account displaying the most recent findings of the Forex Trend Detector. You can view the account information that has been provided below, and if you click the graph, you will be given a more in-depth summary of the trading statistics.
Backtesting with the Forex Trend Detector
The creators of Forex Trend Detector have made some backtest results from the MT4 strategy tester available to the public. Backtests on the EUR/USD and GBP/USD currency pairings, utilizing fixed risk and fixed lots, are available for viewing. The quality of the modeling in these backtests is only 90%, despite the fact that they span many years’ worth of varying market situations. This indicates that they are not using tick data, changeable spreads, nor are commissions being taken into account in their calculations. The issue with this is that each of these critical aspects has the potential to have a major influence on the outcomes. As a result, we would appreciate it if you could provide us with some updated backtests that have a quality of 99%.
Conclusion
The Forex Trend Detector is a fully automated version of a trend trading strategy that has been tried and tested for years. When it comes to the development of forex robots, the team behind it has years of experience under their belts. This expert adviser is supported by a real verified Myfxbook account and comes with a money-back guarantee for a period of sixty days. Additionally, it contains a few helpful features that may be totally customized. Having said that, we would like to see the backtests improved, and until then, we won’t trade with this trading robot on anything but a demo account. This is so that we can get a better idea of how it operates, and so that we can evaluate how well it does its job.
FAQ
How much does it cost to use the Forex Trend Detector?
The cost of this trading robot is $227. You are able to utilize the software on a single active account as well as two demo accounts simultaneously.
Where can I find the Forex Trend Detector so that I may download it?
After making your payment, you will instantly have access to Forex Trend Detector, which is an application that can be downloaded safely.
What kind of assistance with customer service is provided by Forex Trend Detector?
Fxautomater gives 24/7 quick customer assistance. They have a staff of experts who are available around the clock to provide users with prompt support and answers to any inquiries or issues that they might have. You can gain access by joining as a free member, contacting us by email, or submitting the contact form on our website.
When using the Forex Trend Detector, who are some of the best brokers to work with?
In order to use the Forex Trend Detector, you can do so with any MetaTrader broker.
What is the lowest amount that must be invested in order to make use of the Forex Trend Detector?
This automatic trading software does not have a minimum deposit requirement that must be met before one can begin utilizing it. You should only risk what you are confident with and can easily afford to lose at any one time.
What kind of policy does Forex Trend Detector have regarding refunds?
There is a no-questions-asked refund policy that gives you 60 days to return the EA for a full refund if you are unhappy with it for any reason.
Is there a catch with the Forex Trend Detector?
We do not believe that the Forex Trend Detector is a hoax; nevertheless, just because this is not the case does not guarantee that it will be successful. No forex robot, regardless of how advanced it is, can forecast the future with a level of precision that is one hundred percent accurate.
I’m interested in the Forex Trend Detector; is it possible to receive it for free?
You might spend many hours seeking for a free version of the Forex Trend Detector that is being shared, but it is highly probable that the version you find will be out of date, unsupported, and could be hazardous.
The Forex Trend Detector trades in what currency pairings, if any.
It engages in currency trading using the EUR/USD and GBP/USD pairs.
What are the most effective settings for the Forex Trend Detector?
The default settings that come with the Forex Trend Detector are generally considered to be the most effective. Nobody, not even the Fxautomater team, will know the robot better than they do. They would have invested a significant amount of time and effort over a long period of time in order to optimize the EA settings so that you wouldn’t have to. Nevertheless, given that every trader has their own unique trading style, you ought to adjust the size of your positions until you reach a point at which you are content.
I’d like to adjust the settings of the Forex Trend Detector, is that possible?
You are free to experiment with your own settings, including the lot size, stop loss, take profit, and a variety of other parameters, provided that you have the necessary knowledge and experience. To begin, you might find it helpful to test out your configurations on a demo account. Backtesting the robot in the MetaTrader strategy tester using your own unique configuration of settings is another option for getting an approximation of the robot’s performance in the past.
In order to use the Forex Trend Detector, what do I need to have?
MetaTrader 4 (MT4) and MetaTrader 5 are both supported by Forex Trend Detector’s compatibility (MT5). You will need both an account with a forex broker and one of these trading platforms in order to trade forex.
What kind of profits can I anticipate from using the Forex Trend Detector?
There is not the slightest bit of assurance that can be provided regarding the success or failure of any trading robot. Nobody can accurately forecast what will take place in the future because of the unpredictability inherent in market conditions. When using an automatic foreign exchange system like the Forex Trend Detector, you need to be sure that you are aware of and prepared for all of the potential risks.
