In this post I will review the InstantEA trading software from the LeapFX team. LeapFX have a number of automated and manual trading systems along with trading tools available to purchase through their website.
The InstantEA is a tool that can convert technical indicators into automated trading robots without the user needing any specific programming knowledge.
As someone who has programmed over many years and had to learn so much during this time, I understand how difficult it may be for some to create a forex robot from scratch, that is where the InstantEA can potentially come in handy.
The core purpose of the InstantEA is to attempt to convert your MetaTrader 4 and MetaTrader 5 indicators into fully automated trading systems that can be back tested in the strategy tester, fully customised and used on your real or demo trading accounts.
Where the InstantEA is really useful is for those traders who have an established trading system that incorporates a sole technical indicator.
If you only use one indicator and religiously take its signals without any additional analysis, then the InstantEA can possibly automate this process for you.
Thus, you will not always need to sit and watch multiple charts for signals to appear. Instead of looking at signals on your chart just run InstantEA with your indicator and it will automatically trade, manage, and close your trades.
It can also be useful if you want to test out how a particular indicator would perform historically as you can automate the indicators entries and back test them over historical data.
Of course, back testing also has its own limitations and cannot be considered an accurate gauge of future performance.
As touched upon previously, it is limited due to the fact you cannot combine multiple indicators and the human analysis is removed from the equation.
The InstantEA could be a useful trading tools for those who have always wanted to create their very own automated forex trading system but have not had the knowledge or money to hire a programmer.
It is relatively easy to use and the back-testing feature is very good to test different trading system ideas over historical data.
Despite that, there are some limitations such as the inability to combine multiple indicators for a more complete system. In my opinion, it cannot compare to learning how to code trading systems using MQL in the MetaTrader editor.
The Instant EA comes with free updates and support for lifetime along with setup instructions and a money back guarantee.