Forex Trend Detector is an expert advisor for the MetaTrader platforms that scans the forex market for trend trading signals. You can attach the software to your currency pair charts and it will look for forex signals based on its built-in trading algorithm. Once a potential signal has been identified, the Forex Trend Detector EA can place, manage and close a position on your behalf. Whilst this makes it a fully automated forex trading system, it is also possible to set the robot to run semi-automated so that it will send you an alert when there is a signal and you can decide to manually place a trade or not. In this Forex Trend Detector Review, we will be taking a close look at some of the key features, strategy and perhaps most importantly, its verified results.
- Fully automated forex robot
- Customisable settings
- Compatible with the MetaTrader 4 and MetaTrader 5 platforms
- Time management system
- Broker protection system
- Members area
- No 99% modelling quality backtests
- Only trades a few currency pairs
- Myfxbook account was removed
- MetaTrader 4 only
- Requires very specific broker conditions
As the name rightly eludes to, the Forex Trend Detector EA uses a trend trading strategy. Trend following or trend trading is a trading strategy according to which one would look to buy an asset when its price trend goes up, and sell when its trend goes down, expecting price movements to continue. Trend following has worked in the past, still can today and may perform into the future for the simple reason that trends exist and they can be traded up and down. A common saying in the online trading industry is that the trend is your friend.
The trading software uses what is called the volatility breakout play. It’s a sophisticated sequence of observations and trading actions that look to exploit a tendency in the market. The developers claim that this cycle is so predictable that professional fund managers and institutional traders depend on these breakouts to set their profit targets. The algorithm validates the signs using powerful statistical techniques based on the analysis of years of raw market data.
The process works as follows:
- Recognize that a volatile market trend/session is about to end.
- Identify the volatility borders bracketing the dominant market trend. Pay special attention to situations where the volatility borders occur near important market levels.
- Set your trades to execute based on predicted price levels that capitalize on market readjustments when the volatility breakout occurs.
Forex Trend Detector is programmed to adapt to the current market conditions. As each trading session can be different, it is important that an automated system is able to adapt. This robot uses a cutting-edge polynomial algorithm that can adjust system parameters in real-time. The implemented trading algorithm is constantly being tested, reviewed, refined, and re-tested to help ensure that it remains up to date and relevant in today’s forex market.
The Forex Trend Detector expert advisor has been developed by the Fxautomater team who have a selection of other trading robots with different features and functionalities including BF Scalper Pro, Grid Master PRO, Smart Scalper PRO, GOLD Scalper PRO, Omega Trend EA, Volatility Factor 2.0 Pro, Forex Diamond EA, Forex GOLD Investor EA and Forex Combo System.
They have combined their experience from years of programming various trading software to develop this unique trend trading robot that runs in the MT4 or MT5 trading terminals.
If you are using a MetaTrader EA, you will need the platform open and running on your machine in order for it to work. As it may not always be possible to have your home machine switched on, some forex traders may look to use a Forex VPS which can be a useful way to remotely run your trading platforms 24/7 without needing your own computer or laptop switched on.
Some of the notable features of the Forex Trend Detector Robot include the following:
Automated Trading System
The software can analyse the forex market and automatically trade according to the built-in algorithm and external parameters set by the user. It can manage open trades and close positions provided the MetaTrader platform remains up and running at all times.
Although the Fxautomater team have provided default settings 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.
The Forex Trend Detector EA contains complete money management features including things such as stop loss, take profit, trailing stop, position size and more. You can adjust to levels that you feel comfortable with or use the default out of the box settings. There is the option to choose from a fixed risk percentage where the EA will automatically calculate lot size or you can just opt to use fixed lots if you prefer.
Time Management System
The software has a time management system so that it only trades during what it deems to be the best market hours based on the underlying automated trading strategy. There are many trading systems that perform differently depending on the trading hours. For example, a system that needs low volatility may only trade after the New York market has closed and prior to the Asian market opening when volatility can be lower.
Broker Protection System
The expert advisor has high spread and high slippage protection systems to prevent trading when the broker conditions are not considered to be suitable. It is not uncommon to see identical trading strategies produce different results between brokers due to factors such as the spread and slippage. This is why it can be important to avoid trades when spreads and slippage are too high.
Anyone who purchases the Forex Trend Detector EA will get exclusive access to the private members area. From here you will be able to keep up to date with the latest improvements to the Forex Trend Detector robot whilst you will also get quick access to the Fxautomater support team, software updates and some easy to follow tutorials.
When it comes to choosing the best trading robot for your needs, you will probably be looking to see the latest results. We would always check for up to date and verified real trading account performance along with some historical backtests to get an idea of how a particular forex robot may have performed over past market data.
Forex Trend Detector Myfxbook
The Fxautomater team have published a real verified account showing the latest Forex Trend Detector results. You can see the account information below and click the graph to get more detailed overview of the trading statistics.
Update 15/08/2022: The Myfxbook account has been deleted, which is often an indication that an EA could have crashed. Please see our trading robot ratings for an alternative option.
Forex Trend Detector Backtesting
The developers have shared some Forex Trend Detector backtests from the MT4 strategy tester. You can see backtests on the EUR/USD and GBP/USD currency pairs, using fixed risk and fixed lots. Although these backtests cover many years of various market conditions, they only have a 90% modelling quality. What this means is that they are no using tick data, variable spreads nor are they including commissions. The problem with this is that these are all key factors that could have a significant impact on results. Therefore, we would like to see some updated backtests with 99% modelling quality.
Forex Trend Detector is an automated version of a tried and tested trend trading system. The team behind it have years of experience when it comes to programming forex robots. This expert advisor has some useful features that are fully customisable whilst it is backed by a real verified Myfxbook account and 60-day money back guarantee. That being said, we would like to see the backtests improved and would only trade with this trading robot on a demo account to begin with in order to get a clearer indication of how it works and see how it performs.
Forex Trend Detector is an expert advisor that looks for trends on the EUR/USD and GBP/USD currency pairs. It runs in the MT4/5 platforms and has verified Myfxbook account showing its latest performance.
What is the Forex Trend Detector price?
This trading robot costs $227. You can use the software on 1 live account and 2 demo accounts at the same time.
Where can I download the Forex Trend Detector?
Forex Trend Detector is a secure downloadable application that you’ll get access to immediately after purchase.
What kind of customer support does Forex Trend Detector offer?
Fxautomater provide 24/7 rapid customer support. They have a team of specialists who are there to provide quick assistance and resolution to any problems or questions that users may have. You can get access via the free members’ area, by email, or by filling out the contact form.
What are the best brokers to use with the Forex Trend Detector?
You can use any MetaTrader broker to run the Forex Trend Detector.
What’s the minimum amount required to trade with the Forex Trend Detector?
There is no specified minimum amount required to start using this automated trading software. You should only use what you feel comfortable with and can afford to lose.
What is the Forex Trend Detector refund policy?
If for any reason you’re not satisfied with the EA, there is a 60-day no questions asked refund policy.
Is the Forex Trend Detector a scam?
No, we don’t thing that the Forex Trend Detector is a scam but that does not mean it will produce good results. No matter how good any forex robot is, there aren’t any which can predict the future with 100% accuracy.
Can I get the Forex Trend Detector for free?
You probably could spend countless hours looking for a free version of the Forex Trend Detector being shared but it is likely to be out of date, unsupported and potentially dangerous.
What currency pairs does the Forex Trend Detector trade?
It trades on the EUR/USD and GBP/USD currency pairs.
What are the best Forex Trend Detector settings?
The best settings for the Forex Trend Detector are those provided by the developer. Nobody will know the robot more than the Fxautomater team. They would have spent countless hours over many years optimising the EA settings so that you don’t have to. However, you should change the position size to a level that you feel happy with as every trader is different.
Can I change the Forex Trend Detector settings?
If you have the knowledge and experience, you are free to experiment with your own settings, this includes the lot size, stop loss, take profit, and more. You may wish to test your settings on a demo account to begin with. You could also backtest the robot in the MetaTrader strategy tester with your own combination of settings to get a rough idea of historical performance.
What do I need to run the Forex Trend Detector?
Forex Trend Detector is compatible with MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You will need wither one of these trading platforms and an account with a forex broker.
How much money can I make with the Forex Trend Detector?
There are absolutely no guarantees on how good or bad any trading robot will perform. Due to the unpredictable nature of the markets, nobody can predict what will happen in the future. You should make sure that you understand all of the risks involved using any automated forex system such as the Forex Trend Detector.
Results are based on historical data. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. There is no guarantee of future performance. You should understand the risks involved with trading. Your capital is at risk.