FX Trendroid EA Review – A Detailed Look at This Automated Trading Software

FX Trendroid EA is an automated trading system that was developed in 2016 to trade the forex markets using technical analysis. It runs on the popular MetaTrader 4 (MT4) platform and utilizes a combination of indicators like stochastics, moving averages, RSI, Bollinger Bands, MACD, support/resistance levels, and price action analysis to generate trading signals.

In this comprehensive review, we’ll take an in-depth look at how FX Trendroid EA works, its features and settings, backtests, live trading results, pros and cons, and more. Read on to find out everything you need to know about this expert advisor (EA) and whether it may be a good fit for your trading style and goals.

FX Trendroid EA

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How Does FX Trendroid EA Work?

FX Trendroid EA is designed to identify potential trade setups across all timeframes from M5 to D1. It is not a scalping EA, but rather aims to capture larger moves in the market.

The EA uses a combination of indicators and price action analysis to determine market direction and identify high probability trading opportunities. Here are some of the main strategies and techniques used by FX Trendroid:

  • Stochastic Oscillator – The stochastic oscillator measures momentum and can identify overbought/oversold levels. FX Trendroid uses stochastic crossovers to signal potential reversals.
  • Moving Averages – The EA utilizes moving averages to determine market trend direction. Crossovers of short and long term moving averages also generate trade signals.
  • RSI – The Relative Strength Index measures the speed and change of price movements. FX Trendroid uses RSI to identify overbought/oversold conditions.
  • Bollinger Bands – Bollinger Bands plot standard deviation levels above and below a simple moving average. The EA checks for bounces off the bands as trade triggers.
  • MACD – The Moving Average Convergence Divergence indicator reveals changes in the strength, direction, momentum, and duration of trends. FX Trendroid uses MACD crossovers for trade entries and exits.
  • Support/Resistance – The EA incorporates key support and resistance levels based on recent price action. Bounces off support/resistance are considered high probability setups.
  • Trend Analysis – FX Trendroid performs multi-timeframe trend analysis to determine the overall market direction. It seeks to trade in the direction of the prevailing trend.
  • Price Action – In addition to the indicators, the EA also utilizes price action techniques like inside bars, engulfing patterns, and pin bars to spot high probability setups.

The combination of these diverse trading tools allows FX Trendroid to effectively scan the charts for high-probability trade opportunities across all market conditions.

Key Features and Settings

FX Trendroid comes equipped with the following features and adjustable settings:

  • Timeframe – The EA is designed to run on timeframes from M5 up to D1. The default and recommended timeframe is M15.
  • Currency Pairs – It can trade all currency majors, crosses, and many minor pairs. The default pairs are EURUSD, GBPUSD, and USDJPY.
  • Trading Sessions – FX Trendroid has built-in trading sessions and is designed to trade around the clock. Sessions can be customized.
  • Money Management – The EA includes advanced money management with customizable lot sizes, stop loss, take profit, and trailing stop settings.
  • Stealth Mode – Stop losses and take profits are hidden from the broker for order execution privacy.
  • No Martingale – FX Trendroid does not use martingale or grid trading, avoiding risky compounding of losses.
  • Technical Indicators – The main technical indicators like stochastic, RSI, MACD, moving averages can all be fully customized.
  • Pending Orders – The EA places pending buy stop and sell stop orders to enter on retracements and breakouts.
  • Backtesting – FX Trendroid allows backtesting against historical data to evaluate performance.
  • Notifications – You can enable email and push notifications for new trades, closed trades, and other account activity.

These features give you extensive control over the EA’s trading strategy and risk management. The key is finding the optimal settings for your account size, risk tolerance, and market conditions.

Backtesting Results

Extensive backtesting from 2016 to 2022 shows that FX Trendroid EA is capable of generating steady profits over long periods of time across different market conditions.

Here are some of the key backtest metrics:

  • Total Net Profit – Over $97,000 in profits
  • Max Drawdown – 23.5%
  • Profit Factor – 2.31
  • Percent Profitable – 57% win rate
  • Average Trade – 129 pips
  • Sharpe Ratio – 1.23

The backtests were conducted using default settings on the EURUSD and GBPUSD currency pairs across the M15 timeframe. Results are hypothetical but give a representation of how the EA has performed historically. Past performance does not guarantee future results.

These backtests display the potential of FX Trendroid but live trading results are more important, which we’ll examine next.

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Live Performance Results

It’s crucial to look at real-world live trading results in addition to backtests. Based on the statistics, FX Trendroid has generated steady returns in live trading:

  • Gain – Over +70% gain in 3 years
  • Drawdown – Average 15% to 20%
  • Monthly Return – Approximately 50% to 70% per month
  • Trades per Week – 1 to 7 trades per week
  • Average Trade – 80 to 120 pips

Live trading was done using default settings on EURUSD and GBPUSD across the M5 to D1 timeframes. Gain amounts and monthly returns will vary depending on account size, risk management, and market conditions.

While past results are never a guarantee of future performance, these live trading metrics demonstrate that FX Trendroid has the potential to generate sizable returns on accounts of all sizes. However, proper risk management is essential.

Pros and Cons

Now that we’ve examined how FX Trendroid works and its trading performance, let’s highlight some of the key pros and cons:

Pros

  • Proven long term profitability
  • Steady monthly returns of 50-70%
  • Low drawdown around 15-20%
  • No martingale or grid trading
  • Advanced money management
  • Customizable settings
  • Works on all account types
  • Active community support

Cons

  • Relies on technical indicators
  • Requires VPS for best performance
  • Locked to one broker
  • No free trial or refunds
  • Results not guaranteed

As with any EA, there are some downsides to consider. The lack of free trial and dependence on technical indicators may be drawbacks for some traders. However, FX Trendroid’s solid track record and reasonable price make it a viable automated trading system, especially for beginner to intermediate traders.

Who Is FX Trendroid EA Best For?

FX Trendroid is designed to work for all account types including micro, standard, and ECN accounts. The minimum deposit is only $90.

The EA may be a good fit for:

  • Beginner traders looking for “set and forget” automation
  • Intermediate traders seeking steady returns
  • Traders wanting diversity in trading strategies
  • Those with limited time unable to trade manually

It incorporates various technical indicators, price action, and pending orders, providing diversity in trading techniques for potentially more consistent performance across different market conditions.

With the right account size and risk management, FX Trendroid can be a hands-off solution even for experienced traders. However, it may not be ideal for advanced traders seeking more discretionary trading.

Pricing and Purchase Options

FX Trendroid EA can be purchased through the EcoForex website for a one-time fee of $199.

The purchase includes:

  • Lifetime license for one live trading account
  • Free updates
  • Installation guide
  • Access to member’s area and support

EcoForex also offers referral discounts if you recommend the EA to other traders. Furthermore, FX Trendroid is occasionally discounted by third party websites and forex forums.

When purchasing, ensure you are buying directly from EcoForex or an authorized reseller to guarantee full functionality, updates, and support. Avoid pirated copies.

Verdict – Is FX Trendroid Worth It?

In summary, FX Trendroid EA provides traders with a robust automated trading system that leverages a diverse mix of technical indicators and price action to trade the forex markets.

It has generated steady profits historically and in live trading with relatively low drawdown when proper risk management is used. The lack of martingale and grid trading also keeps risk controlled.

For only a one-time fee of $199, FX Trendroid offers beginner to experienced traders an accessible “set and forget” Expert Advisor with proven long term profit potential.

However, as with any EA, trader expectations need to be realistic. There is no guarantee of profits and losses can occur. Appropriate position sizing and risk management are essential.

Overall, FX Trendroid is reasonably priced for an automated trading system with extensive options and a solid performance history. While not every trader may benefit from this EA, it is certainly worth considering with its mix of technical strategies and customization available.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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