Forex Trend Detector uses a volatility breakout strategy that identifies volatility borders and places orders accordingly. The robot has built-in risk management, slippage, and spread protection systems that allow it to go deep in the drawdowns. Our article will discuss all the essential characteristics of the EA and discuss if you should implement it in your trading.
The company claims to have had copyrights since 2017, which means that they have been online for four years. The records on Myfxbook suggest otherwise as they are available from 3 to 4 months only. The developers make many claims about the profitability and different features of the EA. This had caught our attention, and we decided to review the product.
What is behind the Forex Trend Detector?
The company fails to share any information on the developers and their whereabouts. They claim that the program was developed with the guidance of fund managers who have more than 15 years of active trading experience.
How it works
After purchasing the robot, you will have to place it in the experts’ directory of the MT4 or MT5 platform. Refresh the experts’ tab and place the robot on respective charts to begin trading.
Forex Trend Detector has the following key features with their services:
- It uses a high-risk reward ratio and tight stop loss levels
- It works on both MT 4 and 5 platform
- It has a high slippage and spread protection
- It does not need to be optimized
- It has an advanced profit protection system
The developer states that traders can start with a minimum deposit of $100 and use the robot with any broker of their choice.
The robot recognizes the end of a volatile session and identifies the volatility borders. It then places trades accordingly at the predicted price levels capitalizing on market readjustments. On the trading history at Myfxbook, we can see that the robot uses a grid strategy to recover losses. Depending on the situation, it can hold trades for several hours or even days. Once the trade enters the positive territory, it uses a trailing stop loss.
Backtesting results are available for EURUSD and GBPUSD. For EUR/USD 2 % risk, the relative drawdown was around 25.27%. The winning rate was 71.25%, with a profit factor of about 1.67. All the tests were done on the 5 minutes chart with a starting balance of $5000. The robot tanked an average profit of $1939651.62 during this period. There were 2262 trades in total. The best trade was $18176.40, while the worst one was -$19637.69.
The indicator can be bought for an asking price of $227. There is a 60 day money-back guarantee available.
Trading performance of Forex Trend Detector
Live trading results are available on Myfxbook, which show performance from April 14, 2021, till July 22, 2021. The system made an average monthly gain of 10.26% during the period, with a drawdown of 17.72%. The winning rate stood at 68%, with a profit factor of 3.61. The best trade was $172.38, while the worst was -$18.38. There were a total of 114 trades. The developer made $2888.4 in deposits and $500 in withdrawals.
Customer support is only available by filling out a form on the website. It is unclear if it is available 24/7 or not.
Customer reviews on Forex Peace Army are poor. There are only two reviews, one of which is removed as it came from the same location as the developer. The other user states that the product is not profitable.