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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

I will monitor the results very closely and keep you up to date. This specific version of ArrowHunterEa is free for all user that already have a valid ArrowHunterEa license. You can download it HERE.

Get this indicator here: FxMagnetic.

Greets,
Chris
www.coensio.com

16 Responses to FxMagnetic indicator review

  • I got this error and it doesn’t work:
    Zero divide in CoensioFxMagFunctionsV01.mqh (235,96)

    How to solve it? thanks

    • 1. Please re-download the ArrowhunterEa V041.
      2. Always make sure FxMagnetic is first attached to the chart before enabling ArrowhunterEa.

  • I have to GBPUSD version of FxMagnetic…will ArrowHunter still work with this version also?

    Thanks!

    Paul

    • Yes it should work with all their versions, if not than let me know.
      Remember to test if on DEMO account first,
      Gr
      Chris

  • I get Error , add FxMagnetic to Chart

    • Hi,

      Yes you need to first add FxMagnetic indicator to your chart and the add ArrowHunterEa to the same chart.

      Gr
      Chris

  • Will the EA place the SL and TP on an ECN account when opening the trade with the fxmagnetic indicator? I use and ECN account and usually I have to open the trade first before I can place my SL and TP, that’s why I”m asking.

    • Hi,

      This is a good point indeed. I need to add this feature to FxMagnetic mode trade execution.

      Gr
      Chris

  • Hoi Chris, how is the testing going? what are your results so far? Curious to know. Tnx

    • I am trading mainly GBPJPY pair, so I must admit that due to Brexit related volatility, I got few losses in the row…but still no reason to stop this test.
      Gr
      Chris

      • Right. In all fairness, it does say on the website that you need to pay attention to news to prevent unnecessary losses, which makes sense.

        Maybe you could also run a test on a non GBP pair which has less volatility?. GBP pairs can go absolutely bonkers sometimes due to the Brexit mess.

        Anyway will keep an eye out on your blog. Cheers.

  • Hi Chris, can you have an option for risk % per trade instead of fixed lot size in your EA? right now I’m doing manual lot size every time I have a profit or loss. Thank you…

    • Did you try this parameter:
      MmRiskPerc: When different than 0, the EA will calculate the LotSize automatically using the percentage of accounts balance and defined StopLoss. E.g.: set it to 2 to risk only 2% of your account balance with selected StopLoss level.

  • Hi Chris, I get an error saying “@Coensio #Buy Error: 4051 GBPJPY Slippage: 100”. it didn’t open an order?, please help…

    • Hi,

      Please contact me on my email I will probably need your EA settings.

      Gr
      Chris

      • Hi Chris, I solve the problem, EcnBroker was *true because I am using ICMarkets so I switch back to false now its okay, I got order…tnx

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Short about me

Welcome to my Blog!

My name is Chris, I'm a Dutch engineer with Polish roots. By day I'm an engineer, system trader and an internet entrepreneur, and by night I'm fighting internet crime;) I hope you will enjoy my website and my free MT4 software. Do not forget to check out my blog.
B.t.w: 'coensio' (Latin) = assessing, assessment, census, estimating, opinion, rating, taxing.

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