Expert Advisor
4.77/5
33 total votes.

Trading Idea

Forex Spectre is a trend follower EA coded with 3 different strategies but with many similar behavior aspects. Although proved profitable, further descriptive data about those strategies were not revealed by the EA developers and are still vague.

Specifications

License

The licence is valid for one live or demo account and includes support and updates. To activate the licence, a hardware key has to be generated with a software tool provided after purchase. Both, the key and the account number have to be communicated to the support team which will in return provide an installation package for each account.

Broker / VPS Recommendation

Compatible with Any Forex Broker, But We Recommend Installing it on TradingFX VPS and Using it on Tickmill Forex Brokers for the Best Stability and Profitability.

User Manual

A 4-pages manual explains the installation and set up of Forex Spectre.

Support

Friendly and Qualitative 24-hours / 7-days.

Updates

Free Lifetime Updates.

Guarantee

30 Days Money Back Guarantee Offered by the EA Vendor.

Supported Currency Pairs

EURUSD

MetaTrader Chart Timeframe

5M

Backtests

According to the backtests run by MyFxBots, the risk reward ratio is about 1:1 which is apparently excellent while the hit ratio reached just 55%. A high trading frequency that could reach 800 trades per year as that of Forex Spectre could guarantee midterm profits but longer sideward movements could happen. Drawdown periods are inevitable on a short-term basis.

View Full Backtest

Backtests Settings

Symbol
EURUSD (Euro vs US Dollar)
Period
5 Minute (M5) 1999.01.04 12:09 - 2013.05.24 23:59 (1999.01.01 - 2013.06.01)
Broker
Model
Every tick (the most precise method based on all available least timeframes)
Parameters
AutoGMT=false; ManualGMT=2; Start_Deposit=1000; Auto_Set=true; ManualLot=0.1; Logic_1=true; Logic_2=true; Logic_3=true;
Bars in test
4932447
Ticks modelled
9583931
Modelling quality
90.00%
Initial Deposit
$1000.00
Spread

Backtests Results

Total net profit
82289.98
Gross profit
315503.36
Gross loss
-233213.38
Profit factor
1.35
Expected payoff
8.38
Absolute Bal DD
410.58
Maximal Bal DD
1693.60 (2.15%)
Relative Bal DD
57.85% (855.28)
Total Trades
9825
Short positions (won %)
4564 (53.33%)
Long positions (won %)
5261 (54.69%)
Profit trades (% of total)
5311 (54.06%)
Loss trades (% of total)
4514 (45.94%)
Largest Profit trade
329.04
Largest Loss trade
-159.60
Average Profit trade
59.41
Average Loss trade
-51.66
Maximum consecutive wins (profit in money)
25 (1834.00)
Maximum consecutive losses (loss in money)
13 (-705.18)
Maximal consecutive profit (count of wins)
1834.00 (25)
Maximal consecutive loss (count of losses)
-709.92 (11)
Avarage consecutive wins
3
Avarage consecutive losses
2
View Full Backtest

Backtests Settings

Symbol
EURUSD (Euro vs US Dollar)
Period
5 Minute (M5) 1999.01.04 12:09 - 2013.05.31 22:59 (1999.01.01 - 2013.06.01)
Broker
Model
Every tick (the most precise method based on all available least timeframes)
Parameters
AutoGMT=false; ManualGMT=2; Start_Deposit=0; Auto_Set=true; ManualLot=0.1; Logic_1=true; Logic_2=true; Logic_3=true;
Bars in test
4933367
Ticks modelled
9585747
Modelling quality
90.00%
Initial Deposit
$200.00
Spread

Backtests Results

Total net profit
1457270980.95
Gross profit
5739308831.16
Gross loss
-4282037850.21
Profit factor
1.34
Expected payoff
159212.39
Absolute Bal DD
27.73
Maximal Bal DD
91560600.00 (6.98%)
Relative Bal DD
35.00% (21212583.79)
Total Trades
9153
Short positions (won %)
4309 (54.28%)
Long positions (won %)
4844 (55.24%)
Profit trades (% of total)
5015 (54.79%)
Loss trades (% of total)
4138 (45.21%)
Largest Profit trade
15478600.00
Largest Loss trade
-7707900.00
Average Profit trade
1144428.48
Average Loss trade
-1034808.57
Maximum consecutive wins (profit in money)
19 (490972.88)
Maximum consecutive losses (loss in money)
12 (-167.55)
Maximal consecutive profit (count of wins)
47242350.00 (14)
Maximal consecutive loss (count of losses)
-34948500.00 (10)
Avarage consecutive wins
3
Avarage consecutive losses
2

Forex Spectre's Trading Strategy

Each of the three embedded strategies trades autonomously with no interaction with the other two strategies, so that there is a possibility to open a long trade by on strategy while another strategy has opened a short trade at the same time.

If Forex Spectre detected an entry signal and considered it to be highly promising using its advanced algorithm calculates, it automatically opens a trades with a double of the preset lot size.

A money management system is involved in Forex Spectre with the ability to deactivate each of the working trading strategies.

A division of the account balance can be assigned to be the only tradable balance division while the remaining balance can be freely used for manual trading or by other EAs.

Hedging also can be disabled in the EA settings.

Risk

Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.

Forex accounts typically offer various degrees of leverage and their elevated profit potential is counterbalanced by an equally high level of risk. You should never risk more than you are prepared to lose and you should carefully take into consideration your trading experience.

Past performance and simulated results are not necessarily indicative of future performance. All the content on this site represents the sole opinion of the author and does not constitute an express recommendation to purchase any of the products described in its pages.