Forex Trend Detector EA Review: This EA is a Forex robot developed and marketed by FX automater, which is headed be Lachezar Krastev. Today we will be reviewing Forex Trend Detector EA to ascertain if the service this vendor is offering is worth the purchase. Read through our review to see what experts have to say about the Forex trading software.
Table of Contents
What Are Forex EAs, Signals or Indicators?
An expert advisor (EA) is software that directs and guides you on what trades to make or pass on, it even automatically initiates and carries out trades according to a set of already programmed instructions. Expert advisors are most often deployed on the MT4 or MT5 forex trading platforms.
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We cannot overstate the advantages and usefulness of Expert advisor. Among the many advantages is the slight learning curve involved in using the Expert Advisor. That is to say, you need little learning to use an EA as the trades are being carried out by a set of instructions already made by an expert. Another advantage is that it can consider a lot of variables that humans may not have the time or potential to handle.
It is normal and not out of character for a Forex EA vendor or signal providers to lay claims to their product being a sure-fire way for you to get richer (it’s mostly just marketing.). This is because anyone who is looking for a signal provider is searching for a hassle-free way to make some profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.
Forex Trend Detector EA Review
Forex Trend Detector EA was developed by the FX automater team. FXautomater on their website lays claim to having more than 30 forex robots in their arsenal.
FX automater on their website claims to have been in the business for more than 15+ years and more than 10000+ happy clients
The sales page highlights all the advantages of using this EA: state of the art profit protection system, tight stop-loss levels, extremely precise market entries, very high reward to risk ratio, visual risk indication system, Meta Trader compatible and a money-back guarantee program.
How Forex Trend Detector EA Works
In this section, we cover the strategy and methodology the EA works. We also take a look at the trade result if any is provided. For the trade results we hold results that are posted on myfxbook to be standard but we also consider fxblue and other alternatives.
This EA works on the MT4 and the MT5 Platform, it works on multiple currency pairs: EUR/USD, GBP/USD, USD/CHF and USD/JPY
The sales page claims that the EA uses something called “Volatility Breakout Strategy”. Essentially, this EA uses an algorithm that scans the market for a volatility breakout. It then validates the signs, using statistical techniques based on records of past raw market data. They don’t give any other explanation apart from this.
Price
The Forex Diamond is available at $237
Customer Support
They provide a contact form and three different social media accounts.
Client Feedback
Customer feedback is a vital instrument for us to offer up a quantitative review and analysis of an EA. We mostly consider feedback a third-party site as we have found that reviews on the official page might be manipulated, concocted or paid for.
We couldn’t find enough reviews by paying customers to come to a decisive conclusion about this particular EA.
Conclusion
Although this EA is from a legitimate vendor, we would like to express the fact that although the words Expert advisors, and Forex Robots are thrown around often, the trade accuracy is never a 100%. So considering this and the fact that some of this vendor’s EAs have reviewed negatively, we recommend caution when using this EA
EXPERT RECOMMENDATION: Use the Best Forex EAs/Robots in the Market Below
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Strategy: Scalping
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Currency Pairs: All Pairs
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Time Frame: All time frames
Currency Pairs: EUR/USD, EUR/GBP and USD/CHF
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Strategy: Scalping
Time Frame: M1, M5, M15
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