Neurotron EA: An In-Depth Review

The world of automated trading is evolving rapidly, with new robots and algorithms emerging constantly. One relatively recent entrant that has generated buzz is Neurotron EA, a MetaTrader 4 expert advisor that aims to capitalize on opportunities at the start of the London trading session. This review will analyze Neurotron EA in detail, assessing its purported features, functionality, and performance.

Neurotron EA

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Overview of Neurotron EA

Neurotron EA was developed over several years and officially launched in 2020. It is marketed as incorporating artificial intelligence and neural networks within its algorithm. The developer claims Neurotron analyzes the market using advanced programming and AI to achieve a high success rate.

Specifically, this EA is designed to detect potential price reversals during the volatile market opening of the London session. It relies on traditional indicators like Bollinger Bands and the Commodity Channel Index (CCI) as well as neural network-driven analysis to identify trade setups.

The robot is capable of opening multiple trades per signal, up to 7 trades for each currency pair. The marketing material describes the Neutron trading strategy as relatively safe since each trade has a separate stop loss order.

Target Currency Pairs and Timeframe

Neurotron EA is optimized for the GBPUSD and EURCHF currency pairs, especially on the 15-minute timeframe. The developer provides preset files tailored for these two pairs. However, the robot can technically be applied to other pairs as well.

Minimum Capital Requirement

To use Neurotron EA effectively, a minimum account balance of $500 is recommended. This ensures sufficient capital is available to withstand regular market fluctuations.

Key Features of Neurotron EA

  • Trades the reversal at the open of the London session
  • Platform: MetaTrader 4
  • Assets: GBPUSD, EURCHF
  • Timeframe: 15 minutes
  • Individual stop loss for each trade
  • Lot sizing of 0.01 per $500 capital

Neurotron EA Installation and Setup

The installation process for Neurotron EA is straightforward, similar to any regular MT4 expert advisor. Simply download the files, place the .ex4 file in the Experts folder, and attach the EA to a chart in MetaTrader 4.

Specific settings can be configured according to personal preferences, but the developer recommends using the default parameters initially. The inputs allow managing trade size, stop loss, take profit, and other criteria.

To enable continuous, uninterrupted operation, Neurotron EA should be run on a virtual private server (VPS) rather than a local computer. This grants stability, avoids connectivity loss, and executes trades even when the local terminal is offline.

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Analysis of Trading Strategy and Performance Metrics

Neurotron EA relies on a blend of traditional indicators and purported integration of neural networks and artificial intelligence. However, the validity of these claims requires careful scrutiny.

Use of Indicators

The CCI and Bollinger Bands are well-established indicators used broadly across the trading community. The CCI identifies overbought and oversold levels and Bollinger Bands plot volatility-based price channels. Using these indicators to find potential reversals is a sensible approach.

However, the extent and effectiveness of the claimed artificial intelligence and neural networks within EA is unclear. The marketing material does not elaborate on the data resources, programming, or infrastructure required to support deep learning.

Risk Management

A notable feature of Neurotron EA is the implementation of individual stop losses for each trade. This localizes and limits losses on any single trade. Overall risk is also controlled by limiting total trades per pair to 7.

While these measures aim to constrain risk, having multiple open trades exposes larger position sizing and requires careful consideration.

Backtesting and Forward Testing

According to the developers, backtesting shows Neurotron EA can produce a high success rate. However, independent backtesting is strongly advised before using the robot with real capital.

The backtest results should be analyzed in detail to gauge performance across various market conditions. Forward testing on a demo account is also highly recommended to further validate the EA’s profitability.

Real User Reviews

Checking reputable forex forums and websites reveals mixed user reviews for Neurotron EA. Some traders claim good profits, others say the EA stopped opening trades after a few days, and some label it a scam[5]. As with any EA, caution is prudent.

Usage Tips and Recommendations

Here are some tips to use this EA effectively:

  • Conduct extensive backtesting and demo testing first
  • Start with small position sizes and increase gradually
  • Use a reliable ECN broker with tight spreads and fast execution
  • Run the EA on a VPS service for uninterrupted execution
  • Monitor trades regularly and track overall performance
  • Adjust settings if trades are unprofitable or inactive for long periods

Avoid over-optimizing the EA or curve-fitting it to past data. Be prepared to intervene and manage trades if the robot behaves erratically. Use prudent risk management since automated trading always carries inherent risks.

Neurotron EA Conclusion

Neurotron EA offers traders an expert advisor focused on trading the London breakout using a combination of traditional indicators and purported AI technology.

However, the validity of its AI and neural network capabilities requires further proof. The mixed user reviews also highlight the need for caution and manual oversight.

Overall, EA may appeal to breakout traders willing to experiment with automation. Yet prudent backtesting, demo testing, and risk control remains imperative.

As with any EA, Neurotron is not a magic bullet and entails inherent risks. Performing due diligence is strongly advised before using it with real capital.

Author: Dominic Walsh

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 | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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