|(4.5 / 5)|
|Currency pairs:||EURUSD, GBPUSD, EURJPY|
|License:||1 real and 2 demo accounts|
Omega Trend EA is the new trending EA on the block that uses multiple strategies to knock down winning trades with lethal precision. Here’s a detailed review on Omega Trend EA.
Omega Trend EA comes with a powerful trend indicator that works any MT4 platform. It trades the GBPUSD, EURUSD, and EURJPY currency pairs. The very nature of the EA makes it a safe haven for trading, reason being, this EA places trades based on trend, and it is always less riskier to move with the course of the market.
The greatest benefit of the Omega Trend EA is that it is based on 2 of the fundamentally strong strategies that reap in huge benefits in a volatile market. Simply put; the more volatile the market is, the more profit one can expect this EA to make. It generally picks up around 20 pips per trade on an average. The average trade length is about 19 hours, which shows that the EA works round the clock and not just during the Asian sessions.
The heart of this EA is in 3 powerful strategies it uses to rip the market and take home handsome profits on autopilot. Let’s take a look at what these strategies are:
The EA is powered to identify an emerging trend ahead of the market. The EA will capture the trending nature of a currency pair at the onset of the trend and bring the trades great profits.
This is an add on strategy added to the trending strategy to reap maximum profits from the market.
The first signal is generated at the time when the market moves in to a trending mode. The second signal alerts you when the trend is about to end and the market is ready for a pull back. The second signal is intended to help you optimize your positions and thereby lowers your risk.
While this approach works fantastically well for the newbie traders and help them protect their capital, for advanced traders, they can use these signals individually and profit from both the trends and the market reversals.
Omega Trend EA is built with a proprietary algorithm- the Trend Acceleration that works to ensure that the trend line is in alignment with the market. This is one of the safety features that is not commonly found in most Expert Advisors available in the market today. With this feature, the EA adapts itself to the market conditions before picking up trades. This results in safe trading and more winning trades.
The EA has inbuilt risk management rule for entries and exits. Instead of using static rules, the EA looks at the volatility of the market before entering or exiting the market. This is done by having the take profit, trailing stop and the stop loss linked to the market volatility.
In addition to the EA that identifies profitable trading opportunities on the current trends prevailing in the market, you also get Omega Trend Indicator. This indicator identifies emerging trading opportunities in the market through a thorough market analysis. This is quite useful in understanding what to expect from the market in the days to come. It also gives additional control in the hands of the users, especially if the trader has some experience in trading.
For those who love manual trading, the EA has an option where you can switch off automated trading with a single click. This feature helps experienced traders to reap additional benefits.
Omega Trend EA ranks higher than several counter products because of the reasons given below:
Safety features: This EA has excellent money management and risk management principles inbuilt. The dual signal strategy which alerts you when a trend is coming to an end can be called as the highlight of this EA. This is a great safety feature that helps to manage trades and take corrective action in time, if need be.
Vital Parameters tied to market volatility: Most EAs trade according to set codes. When trading in a live market, the market conditions may be quite different that what the preset code suggests. This entails in loss making trades, no wonder most EA fail.
In sharp contrast to this, all the vital parameters of the Omega Trend EA such as the stop loss, take profit, trailing stop are all tied to the market volatility. The EA analyses the live market data and swiftly adjusts the stop loss, take profit and trailing stop to the market conditions. This naturally improves the profit potential of this EA and reduces the chances of losing trades.
In addition, it is based on fundamentally strong strategies and is complemented by a state of the art indicator.
The back test results shown on the website are pretty impressive. The back test was carried over a period of almost 5 years, from 2nd Jan 2008 to 30th Nov 2012. The trades were made on one hour time frame. On a $5000 deposit, the account earned a whopping profit of $168958
The back tests show that the number of winning trades stood at 1087, while the number of losing trades were 648. The percentage of losing trades is 37%, which some may find to be high, but it is quite natural to lose in the market. In fact, this makes up for 2 points. First, the EA has the ability to recoup the losses and turn into profits. Secondly, the author of the website has not tried to interfere with the results. Now, a point to be noted here is that, it is simply impossible to have a system or an EA that gives 100% or 90% results. 73% winning trades is a fair deal and more realistic.
Although the drawdown level of 39% appears slightly on the higher side, it must be remembered that the markets had been running on volatile spells during the period the back testing was done.
On live testing with Myfxbook, the account shows a profit of 56% on a $5000 account. It showed impressive results with GBP/USD currency pair, where it generated an impressive $1056 profit.
Omega Trend EA Live Results:
The Omega Trend EA is priced at $197 and comes with a 30 day Money Back Guarantee. This makes buying the EA risk free for the traders. The traders can use the guarantee period to check the efficiency of the EA on a demo account.
The features, back tests and forward testing results suggest that the Omega Trend EA is one of the finest EAs available in the market today. It gives best results on the GBP/USD currency pair. It has several features such as dynamic entry and exit points, dual indicators and trend acceleration algorithm that gives this EA a cutting edge and places it well above the competition. Since the EA can run successfully both on automation and with human intervention, Omega Trend EA gives excellent results to both amateur traders and experienced professional traders.
All in all, Omega Trend EA is a great buy and gives fantastic value for money.