FxMagnetic indicator review
+4500pips in the last 100 signals.
This time I will have a closer look at the FxMagnetic indicator. According to the makers of this indicator, the signals provided by this indicator are very accurate. The indicator has several different versions, each version is fine-tuned to specific currency pair (which makes sense from the algo-trading point of view). Of course everything is based on statistics and probabilities, but for example the current GBPJPY version of this indicator ‘predicted’ last 100 trades with the resulting profit of +4500pips and only <20% draw-down. Pros of FxMagnetic indicator:
- Well designed indicator based on statistics
- Each version is fine tuned to specific currency pair
- Non-repainting signals
- Indicator provides best possible settings for each time-frame (no configuration needed)
- Indicator provides targets for TakeProfit and StopLoss levels
- Impressive profit/loss statistics and very low draw-down
- Reasonable price
Cons of FxMagnetic indicator:
- The indicator buffers are well protected, backtesting is not possible
- Each purchased license works only on one specific currency pair
This all makes this indicator very interesting trading tool. Watch the video below to see an example of FxMagnetic on EURUSD pair.https://www.youtube.com/watch?v=RysU9UhfWy4 But is this indicator really profitable? Hard to say…the statistics look very promising and I know the coders behind this product and I know those guys know what they are doing. So let’s test it!
Automating the FxMagnetic with ArrowHunterEA.
For our forward test of FxMagnetic indicator we will use our ArrowHunterEa, which has been updated with dedicated ‘FxMag’ mode. In this special mode of operation the ArrowHunterEa will automatically recognize the trading signals of FxMagnetic and place the orders together with the corresponding TakeProfit and StopLoss levels. For this specific test we will use GBPJPY version of FxMagnetic. See it in action here: https://www.youtube.com/watch?v=rlUCbw71G7o
Get this indicator here: FxMagnetic.