Categories
According to the EA’s website, the bot’s creators claim that they have made a software tool that combines basic math and technology to help traders gain financial stability. The forex bot is incredibly precise, accurate, and profitable, turning risky trading into good paydays. We perform an EA review of the Forex Trend Detector? We scour its website to determine the bot’s working mechanism, the stats available, and genuine user reviews to determine whether the bot works.
Table of Contents
What is Forex Trend Detector?
Forex Trend Detector is an automated trading bot that works with the intelligent money algorithm to make a profit. The bot is a part of the bot range that FXAutomater makes. According to the robot’s site, the bot’s developer’s are fund managers who have over 15 years experience of forex trading and software development. The site promises a state-of-the-art profit protection system and a high reward to risk ratio. The bot is easy to download and install and is ready to use right after purchase.
Forex Trend Detector has no packages, and it comes as a complete set that costs around $200-$300 depending on the discount offer in place at the time of purchase. When you purchase the bot, you gain access to one real account, two demo accounts, EUR/USD, GBP/USD currency pairs, and 24/7 lifetime support. You will also get lifetime updates, a detailed user guide, and emotion-free trading.
EA Review: Forex Trend Detector
FxAutomater has released v5.0, which is the most recent version so far. The bot doesn’t use exotic or speculative technology, but the site mentions a smart money algorithm that includes volatility breakouts and a conservative drawdown compensating algorithm. These techniques, when combined, reduce the chances of your account experiencing a rapid increase in drawdown by including stop loss and an accurate exit strategy that allows you to leave trades on a win. The site claims that this bot’s algorithm has been tried, tested, and modified to be the best in the market. Forex Trend Detector was also developed to pick up on changes in the market’s direction effectively.
Forex Trend Detector Features:
- Exact market entries
- High reward to risk ratio
- Accurate market entries
- Effective stop loss
- The bot doesn’t need optimization
- Advanced Time management system
- 100% guaranteed long-term profits
- Visual risk indication system
- Supports Windows and Mac OS
- The robot has been optimized and updated
What Makes the Forex Trend Detector Tick?
The robot uses volatile breakout play, which on its own analyses the market’s direction. First, the robot is developed to notice when a volatile market session is on its last leg and pays special attention to when the volatility borders occur near our set take profit parameters. It works around your parameters, adjusting them as the trade goes on to get you a profit on your trades.
The EA works with both MT4 and MT5 and is neither slippage nor spread dependent. Their visual trade indication system allows the bot to determine the best time to start and stop trade to minimize loss. You can use this bot for low, medium, or high-risk trades. You get a 60-day money-back guarantee with this package.
According to its website, the robot has been improved to provide accurate market entries, a high-profit factor, tight stop-loss levels, and a visual risk management system. While the robot is meant to protect your investment from high slippage and spreads, it’s not dependent on them. The developers promise their traders 100% guaranteed long-term profits.
EA Review: Forex Trend Detector Stats and Community Review
Forex Trend Detector’s website is very professionally done. The first disclaimer on the page is that the EA doesn’t work with the current market trends and recommends us to other forex bots. The creators have explained in detail how the robot works, and we are here for it.
Forex Trend Detector Backtests
They have provided several backtests, which seem to be a decade long with average trade wins of about 70%, a 2% risk, and fixed lots. With the magic algorithm, a trader can adjust its indicators in real-time using a polynomial algorithm. The site contains several backtests that use 90% modeling quality.
We will focus on the EURUSD backtest that works with the M5 timeframe and occurred between 2010 and 2020. The test account’s initial profit during this backtest was 5000, which grew a total net profit of 320223.60. The profit factor stood at 2.12, which is exceptional. The maximal drawdown was 4.33%, the relative drawdown, 29%, and out of 2262 trades, the robot made 1614 profit trades on short positions, which translates to 71.35%. The long profit trades were 1121. The backtests show potential for a well-performing robot.
Forex Trend Detector on Myfxbook
The bot’s stats aren’t available on Myfxbook, and they provided their data last in April 2019. The stats that we got show a demo account that grew by 58.06% between April 2016 and August 2019 after a $3000 deposit. The robot gained a $1741.77 profit for this account, with 0.03% daily and 1.11% monthly gains. The drawdown stood a 39.43%, which is relatively high, and seeing the negligible profit margins, it could be that the robot was struggling to break even most of the time. The graph is quite erratic with numerous upwards and downward trends.
We could only find two reviews. One was positive and the other negative. The negative reviewer seemed to get their money back, so that’s a testament to the money-back guarantee working.
Final Thoughts
The site said it all; the site isn’t suitable for the current market trends. They even went ahead to withdraw their data from Myfxbook and are directing you to alternative bots. All the fingers are pointing towards any option other than Forex Trend Detector. Who are you to say no?
The demo account’s stats show a robot that is constantly struggling to make a profit and failing numerous times, and we can see from the considerable drawdown that trades get even riskier with time. The profit isn’t at par with other robots in this price range. We don’t recommend the robot.