EMALGO 2.0 review.
Is it forex robot of the new generation? And what developers changed since previous version?
Words of Authors (Emalgo 2.0 review):
- EMALGO 2.0 does not use the M1 time frame. This was the major cause of trade difference between brokers. V2.0 uses a M15 as the minimum timeframe indicator and has adapted all other calculations to the H1 timeframe. Since the H1 timeframe is the most consistent among all brokers, the trade differences seen before will be greatly reduced. Please not that trades will not be identical but similar in most cases.
- An analysis of the trades by v1.4 so far show that the EA has lost 1400 pips in its 16 losing trades. It closed 40 trades at breakeven levels totalling about 300 pips and made about 1060 pips in 16 winning trades. V1.4 moved the SL to a breakeven level which was just above the entry price - this action was triggered as soon as the trade achived the EM algorithm's estimated target price which is usually around 35-45 pips. EMALGO was developed with the EM algorithm as the core and trade management was used to manage the trades once it was in place. The success rate of 80% clearly exhibits the power and potential of the EM algorithm. Out of the 70 trade calls given out 56 trade calls achieved the estimated target gain which was atleast 35 pips - this was a net of about 1950 pips. The other 16 trades made a loss of 1400 pips. We are sure that you will agree with the tremendous potential of this EA given the tough time we just went through during the last few weeks.
- EMALGO 2.0 makes a major change in trade management strategy by doing away with the concept of breakeven level. EMALGO will now move the SL to just below the estimated Target Price which will ensure locking in of ateast 25-30 pips on each trade that achieves the estmated target price. Since this make it into a very tight trailing SL a larger number of trade will close at this level and a few trades will go on to reach higher gain when the price action shows strong movement. The dynamic trailing SL kicks in after a gain of about 100 pips is achived giving the trade enough room to achive maximum gains (~300-500 pips). EMALGO 2.0 also makes certain changes to the entry logic which will enable to it re-enter trades that closed on retracement after reaching the estimated TP. The EA will be less dependent on the actual closing and opening values of the H1 bars - this will also reduce inter-broker differences and produce more reliable backtest results.
- EMALGO 2.0 sets a protective SL which will be around 70-100 pips instead of 140-160 pips used earlier. The EA will continue to deliver success rate of over 70%.
Installation and first impression.
Installation is automatic as well as in the previous version Emalgo. All you need to do is type in the license data and define risk level. There are No other options provided.
Our full review of Emalgo 2.0 comming soon.