Top-5 Forex Expert Advisors
Forex Expert Advisors are specialized software that allows automatic trading on the market. The goal of advisors is to make trading possible without the participation of a trader.
Depending on the strategy, advisors may be trend and flat, multicurrency and combined, use martingale or grid strategies. Advisors based on the martingale strategy are the most risky ones as their algorithm is set to increase the lot after any losing trade. Trend advisors are created to trade with the trend and are aimed at long positions with a large profit. The algorithm of scalpers is aimed at multiple deals, often with a large lot, several points per deal.
Reliable Trend Advisors
Forex trend advisors have an algorithm which allows trading in the direction of the trend, i.e. they open long positions for larger profit.
These are one of the most reliable trend advisors recommended by experienced market players:
- Forex Trend Hunter
Forex Trend Hunter is considered one of the best robots following the trend and the most promising algorithm for working on Forex. It works with the three pairs: EUR/USD, GBP/JPY and EUR/JPY. This trend robot trades when there is increased volatility. The trend is determined using a special indicator. Deals are closed via StopLoss, TakeProfit, and trailing, for which a separate indicator is responsible.
- FxMath DailyTrader
The robot monitors the market situation and opens orders when it detects reversals. Therefore, the best time for trading is the period with the highest market volatility. This advisor uses such classic indicators as CCI, RSI and Momentum. The advantage of this Forex Advisor is that it does not transfer open trades the next day.
BumbleBeeFX is a modern tool for automated trading on the Forex market. A distinctive feature of the adviser is a self-updating algorithm that runs when trading conditions change. The work of the advisor is based on the automatic dynamic trading algorithm using a protective system against sudden price reversal, slippage and increase in the spread. Using this advisor, users can trade not only currency pairs, but other investment assets as well.
- BFS Trident Robot
Trident Robot EA is the first Forex robot based on long-term market analysis. This analysis covers almost 10 years of market activity. The MSA-based EA algorithm works as a trend detector with 62% accuracy. It works with EUR/USD chart.
- Taren Forex EA
Taren Forex Trading Advisor is a commercial trading robot which does not require experience in currency trading or a complicated initial setup. The Expert Advisor trades in two currency pairs, EUR/USD and GBP/USD on a 30 minute timeframe.