In this article I am going to review forex robot called Forex Trend Detector . This forex robot has very interesting and smart trading strategy. It is trend following strategy and looking for big movements in the market.
Forex Trend Detector is a trend system. By default it can open up to 10 trades in a time, of course this value can be changed in the robot's settings. This expert advisors is smart enough and easy to change the settings. The recommended minimum account balance for Forex Trend Detector is $1000 and the risk should be 2% or below 2%. With this risk for one year you can make +100% profit but what is more interesting if you keep trading for longer period of time using money management you can make amazing profit. Of course, there could have losses from time to time but there is no such expert advisor that do not loss. This EA is capable of recovering the losses very fast.
The latest update of Forex Trend Detector is very successful. The developers of this EA has added new currency pair to there trading portfolio, it was only for EURUSD, but now it can be traded on GBPUSD as well. This is not all! They added new settings called "High Frequency" on EURUSD. This settings increases the trades number much more than the normal version. It is important to add here that it is developed to trade only on M5 timeframe.
What is really nice is that you can use it on MetaTrader 4 and MetaTrader 5 trading platforms. This is a big plus for this EA. Also it is compatible with Windows and MAC OS.
Parameters of Forex Trend Detector
I am going to explain you one by one what does mean every settings of this expert advisor. Part of the forex robot review is to explain all the settings of an expert advisor. Some of the parameters are simple and easy but some of them may take time to understand. We suggest you to read this article couple of times. Here are the details about the parameters of Forex Trend Detector:
- Magic - a unique identifier through which Forex Trend Detector recognizes and manages its own positions.
If you use another expert advisor on the same account you have to make sure that these 2 EAs have different magic numbers. This is very important! Also it is not recommended to run more than 1 copy of Forex Trend Detector in the same account.
- Backtest_GMT_Offset - this parameter is very important for back-tests. If you do not enter the correct GMT Offset for the back-test history data loaded in your MT4 terminal, your back-tests will be incorrect.
- EA_Comment - enter comments here if you’d like to record comments about your Forex Trend Detector trades.
- MaxSpread - maximum allowed spread in standard 4-digit pips. You can also enter partial values.
This parameter can be changed but personally I suggest you to find a forex broker with tight spreads instead of increasing max spread value.
- MaxSlippage - maximum allowed slippage in standard 4-digit pips. You can also enter partial values.
- StealthMode (true/false) - in this mode, StopLoss and TakeProfit levels in program logic are hidden (i.e. brokers can’t see them). If you use this mode, StopLoss and TakeProfit orders are not located in the trading server, which means if your trading terminal is not connected, or if the robot is not working, your orders are not protected.
- NEW: Use_EURUSD_HF_Settings (true/false) – this parameter will activate the high trading activity mode for EURUSD. The EA will trade more often and the potential profit is expected to be about 30-50% higher than the standard mode. However, we recommend the standard mode, because it is expected to provide more stable and higher profit factor trading.
I do strongly recommend you to try this setting, it will increase much the number of trades.
- RecoveryMode (true/false) - when RecoveryMode is activated, an algorithm effectively compensates the current drawdown by smoothly increasing trading volumes. This mode is active only when AutoMM is greater than zero. Before activating RecoveryMode, please bear in mind that it can increase the risk to your account. For this reason, RecoveryMode should only be used at low values of the AutoMM parameter. We recommend RecoveryMode with AutoMM values below 1.
- RecoveryMultiplier – the multiplication factor used from the RecoveryMode. The default value of RecoveryMultiplier is 1.04, which means that the trading volume of each next trade will be multiplied by 1.04, until the drawdown is not fully compensated.
- FixedLots - the extent of the fixed trading volume. If you use AutoMM>0, the value of the FixedLots parameter will make no difference.
- AutoMM - automatic risk management activates at values greater than zero.
Using Money Management system is a big advantage. I strongly recommend you to use it, but do not risk much. I recommend you to use risk 2% or less than 2%.
- AutoMM_Max - the maximum permitted risk expressed as a percentage of the account per individual transaction, calculated on the basis of a 100 pip loss. When RecoveryMode is used, this parameter limits the upper value of the risk per trade.
- MaximalLots – maximum allowed lots
- MaxTrades – maximum allowed trades
By default, this value is 10. It is best to keep it because the developers know best about there product and increasing/decreasing it will change the results much.
The settings below are very important and it is not recommended to be changed. But if you think and have tested with your own values you can go for it. Here are expert settings:
- CustomTakeProfit – fixed custom Take Profit value in standard 4-digit pips. Works with values greater than zero. The default Take Profit value is provided by our server.
- CustomStopLoss – fixed custom Stop Loss value in standard 4-digit pips. Works with values greater than zero. The default Stop Loss value is provided by our server.
- TrailingStop – fixed Trailing Stop value in standard 4 digit pips
- StartTrailStop – the minimum profit of the position in pips, on which the Trailing Stop will start to be applied
- SafeExitMinutes – time in minutes, after which the position will be closed on a base of the SafeProfit parameter
- SafeProfit – profit/loss in pips on which the position will be closed, if the position live exceeded the value of the SafeExitMinutes parameter
- ExitSignalProfit – minimum profit in pips, on which the position will be closed by the aggressive profit protection trading logic
- ExitM5Profit – minimum profit in pips, on which the position will be closed, after the formation of M5 reversing bar
Why to choose Forex Trend Detector
If you like trend following strategy and do not want to risk much this forex robot - Forex Trend Detector - will help you to achieve this. It follows the trend. The thing is that it does not trade often and it looks only for big movements within 5 minute timeframe. The new settings "High Frequency" is a great improvement of this EA and it increases much the count of the trades. This is not all. There is new currency pair GBPUSD that is supported. It is additional trades and profit.
Can I loose my account using this forex robot?
No matter which forex robot you use, there is small percent that it is possible to loose your account. This can happen with this robot in very rare situation and only when there is very big economical movements around the world. When this happen no matter what you do if you are not lucky you will fail!
Using 2% risk with their intelligent money management system you are safe. You can use even high risk but I personally do not recommend you. As you know, when you strive for millions for very short period of time then the risk is great, so stick to the low risk and be safe.
You cannot loose your account with 2% risk and account balance $1000. This system is really smart!
Is it compatible with all the brokers and account types?
Yes, it is. It is compatible with all the brokers and account types. Also it is compatible with Windows/MAX operating systems.
Do I need VPS Server?
This is personal decision actually. If you think that you cannot guarantee your PC will work 24h per day without Internet interruption then you should go for vps server. You may pay every month but you will not miss any trades. So, this is important question to think about.
Drawback of Forex Trend Detector
The only minus that I would say about this robot is that it does not trade often. Even though, it compensate this inactivity with many trades when there is big forex market movements.
SUMMERY - Forex Robot Review - Forex Trend Detector
In conclusion to this article, I want to repeat couple of things about this EA. Forex Trend Detector is amazing forex robot. Within 3 years with just 2% risk you can make great profit. It can loose from time to time but at the end you will definitely have a good profit and result. It is strongly recommended to try this expert advisor. You will not regret. It is trend following expert advisor but it looks for big movements and expects fast movement in the market within 5 minutes timeframe. I personally recommend this expert advisor! Try it.
IF YOU LIKE OUR POST PLEASE SHARE WITH TO HELP OUR WEBSITE TO GROW!