Forex trading can be a challenging and daunting endeavor, especially for new traders. This is where expert advisors (EAs) come in. EAs are automated trading systems that use algorithms to make trading decisions based on specific indicators and parameters. One such EA is the Darwin Swing, developed for long-term Forex trading by the same vendor as the Darwin Evolution.
The Darwin Swing EA is a conservative, long-term trading system that utilizes swing trading strategies based on support and resistance levels. The EA has been designed to be as close as possible to manual trading. It also has the ability to open virtual orders, allowing traders to gauge potential trades before committing real money.
In this review, we will take a closer look at the Darwin Swing EA and its features, performance, and potential risks. By the end of this review, traders will have a better understanding of whether the Darwin Swing EA is the right fit for their trading strategy and goals.
Darwin Swing EA Strategy
The Darwin Swing EA is an expert advisor developed for long-term Forex trading. It utilizes swing trading strategies to find trades based on support and resistance levels. Swing trading involves holding a position for a few days to capture price movements within a larger trend. The EA is a conservative system that is not designed for scalping or fast trading.
One notable feature of the Darwin Swing EA is its ability to open virtual orders. These orders are not opened in real time but are used to calculate support and resistance levels for actual trades. This feature allows traders to gauge potential trades before committing to them. The system has been designed to be as close as possible to manual trading to ensure that it is reliable and effective.
The Darwin Swing EA is not limited to a particular currency pair. It has independent settings for each pair, which are integrated into the EA’s code. The developer recommended setting for the EA is EURUSD at the M1 timeframe. However, it can be used on all 28 pairs simultaneously. It is also compatible with all brokers, regardless of execution speed, fees, or spread.
The Darwin Swing EA integrates more than eight indicators and filters to ensure that it makes informed trading decisions. These indicators and filters include moving averages, RSI, and MACD, among others.
The Darwin Swing EA is available for purchase at a cost of $999. Traders are advised to utilize the free demo account before trading with a live account. This approach will enable them to test the system and ensure that it is a good fit for their trading strategies.
Darwin Swing EA Features
- Expert advisor for long-term Forex trading
- Utilizes swing trading strategies based on support and resistance levels
- Conservative system designed for long-term vision, not for scalping or fast trading
- Ability to open virtual orders to gauge potential trades before committing
- Designed to be as close as possible to manual trading
- Independent settings for each currency pair, integrated into the EA’s code
- Developer recommended setting is EURUSD at the M1 timeframe
- Multi-currency EA that can work on all 28 pairs simultaneously
- Compatible with all brokers, regardless of execution speed, fees, or spread
- Integrates more than eight indicators and filters, including moving averages, RSI, and MACD
- Can open positions visible on the dashboard but not opened in real-time
- Comes with a free demo account for traders to test the system before committing to a live account.
Darwin Swing EA Settings
- Lot Multiplicator: Determines the lot size of the trade by multiplying the default lot size by a certain factor.
- Riskpercent: Sets the risk percentage per trade based on the account balance. This determines the lot size for each trade.
- TakeProfit: Sets the take profit level in pips. Once reached, the trade will be automatically closed to secure profits.
- MaxTrades: Sets the maximum number of trades the EA can open simultaneously for a currency pair.
- UseEquityStop: Enables the use of an equity stop loss, which will close all trades for a currency pair once a certain equity level is reached.
- TotalEquityRisk: Sets the total amount of equity that can be put at risk at any given time.
- Magic number: A unique identifier for each trade opened by the EA. It can be used to distinguish the EA’s trades from other trades opened manually or by other EAs.
- ShowTableOnTesting: Displays a table with detailed backtesting results of the EA’s performance during testing.
- Lot size: Sets the default lot size for each trade.
- Profit in pips: Determines the minimum profit in pips required for the EA to open a trade.
- Distance between orders: Sets the minimum distance in pips between trades opened by the EA.
- Equity max risk: Sets the maximum amount of equity that can be put at risk in a single trade.
Darwin Swing EA Summary
The Darwin Swing EA is a long-term forex robot that uses swing trading strategies to find trades based on support and resistance levels. One of the EA’s strengths is its ability to integrate over eight indicators and filters, providing traders with more trading opportunities. The virtual order feature also allows traders to gauge potential trades before committing real money. However, the EA is not a fast scalper or a night scalper, so it is not suitable for traders who want quick profits. Additionally, the $999 cost may be a significant investment for some traders.
Testing the Darwin Swing EA with a demo account is essential to see if the system fits a trader’s risk management strategy. Setting the risk percentage per trade based on the account balance and the equity stop loss are recommended settings for traders who want to manage their risk effectively.
Overall, the Darwin Swing EA is designed for patient and long-term traders who are willing to wait for profits to accumulate over time. The EA is not a guarantee of success, and traders should not let up on risk management. Instead, they should conduct their due diligence and evaluate the EA’s strengths and weaknesses to determine if it aligns with their trading strategy and goals.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.