In this post I will be reviewing the Forex Pulse Detector forex robot. This is from the same developer who brought you the Forex Trend Hunter and Dynamic Pro Scalper forex robots that I have also reviewed. The Forex Pulse Detector EA is a fully automated forex trading system that runs in the popular MetaTrader 4 (MT4) platform which is free to download from most forex brokers. It can place and manage trades on behalf of the user. You simply attach it to the charts in your MT4 platform and it will do all of the hard work for you. However, there are some limitations which we will cover in this Forex Pulse Detector review. Read on to find out more about this expert advisor and see if it is something that you would consider using on your forex account.
Forex Pulse Detector Trading Strategy
The idea behind Forex Pulse Detector is that it will try and take advantage of market impulse – the hint was in the name! It combines multiple indicators that look for opportunities for price to start forming a reversal. Currently it runs on the GBPUSD and EURGBP currency pairs although the developers state that they are working on adapting it to others. It trades on the m15 chart time frames which means that there should be plenty of trade activity. I would personally consider using it on higher chart timeframes as I think trading signals tend to be more reliable compared to the lower chart timeframes which are choppier in general.
The expert advisor (EA) will analyse charts for potential trading signals based on the built-in algorithm. When it finds a signal, it can place and manage trades on behalf of the user. The settings can be customised to the user preferences which makes this a very versatile automated trading system. This is a fully automated forex trading system for the MetaTrader 4 trading platform, which you can setup quickly and leave it to run. As with all forex robots that need to be running 24/5 you may want to purchase a virtual private server (VPS) to run MetaTrader around the clock if it is not possible to always have your computer/laptop running. Unless of course the robot that you are using only trades at specific hours then you can just have your computer/laptop on during that time but keep in mind that it may manage open trades outside these hours.
Although the Forex Pulse Detector EA is a fully automated forex trading robot, you could always set the software to semi-automated mode in which instance it would send you an alert when it finds a trading signal and you could decide from there if you would like to enter the market or wait for the next opportunity to come along. I would always like to perform my own additional market analysis where possible as extra confirmation for all trades. This could include technical analysis, fundamental analysis and price action analysis. Generally speaking, the more aspects of market analysis that you have covered, the more informed your trade decisions can be.
The developer has made all of the Forex Pulse Detector expert advisor settings externally available which means that you can adjust them via the inputs window when you attach this robot to the charts in your trading platform. You can always just use the default settings provided by the developer that have already been optimised but you should always check to make sure that the lot or risk size is set to a suitable level for your risk preferences as every trader is different in that respect.
For those of you who have the experience, you are free to experiment with the Forex Pulse Detector robot settings to develop your own bespoke set files. I would use the MT4 strategy tester to backtest the software across different currency pairs and chart timeframes to discover unique combination of settings that match my trading style and goals. There are recommend currency pairs to use but that does not mean you cannot run it on other financial instruments. However, if you do wish to experiment with the Forex Pulse Detector EA, then you may want to do so on a demo account to begin with and see how things go.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs. I would personally run forex robots with an ECN forex broker as I find that they tend to have some of tightest spreads, lowest commissions and reliable execution speeds. IC Markets are one of my top brokers for automated trading as I find they have deep liquidity pool which help ensure tight spreads, low commission fees and quick execution speeds at the best available prices.
Forex Pulse Detector Back Testing
The Forex Pulse Detector website has published some back tests showing results over a 5-year testing period. However, the modelling quality is 90% which means that back testing did not use tick data or real spreads. We need to take that into account as results may have been much different if the developer was using better backtesting conditions. It would have been useful for potential users to see 99% modelling quality back tests using Birts TDS in the MT4 strategy tester. I would also like to see them update the Forex Pulse Detector backtests as they have not been updated for years and we have seen some serious market changes during that time which could also have a huge impact on the performance of the EA.
Forex Pulse Detector Live Results
Despite the poor quality of the backtests provided, it is good to see they have shared a verified by Myfxbook trading account where we can follow the latest Forex Pulse Detector results. The account has been running for a decent amount of time but I am not to convinced with the drawdown which is quite high for my taste. It looks like the Forex Pulse Detector EA is holding onto losing position in the hope they will turn around. The problem with this is that if they don’t, it can lead to a possible margin call and blown account. Therefore, I think the money management of the bot could be improved significantly. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Forex Pulse Detector Summary
Overall, I think that the Forex Pulse Detector EA has some potential but would need some tweaks on the user side. I would want to optimise the settings according to my own trading style as it looks like the default settings can cause quite high drawdowns. I also think that the backtests could be improved and updated, whereas I would only run this forex robot on a demo account initially to get a clearer indication of how it trades.
That being said, the Forex Pulse Detector robot comes with dedicated support, free updates, a 60-day money back guarantee and licenses for your demo and your live trading accounts. You can request for these licenses to be changed to other account numbers should you wish to do so. Check out the Forex Pulse Detector website for more information by using the link below.
Forex Pulse Detector
$79
Pros
- Multiple Currency Pairs
- Customisable Settings
- Versatile Trading Robot
- 60 Day Money Back Guarantee
- Full Support
- Lifetime Updates
- Detailed Instructions
- Fully Automated Forex System
- Verified Results Provided
- Backtests Available
Cons
- Limited Backtest Quality
- Potentially High Drawdowns
- Requires User Input
- MetaTrader 4 Only
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.
