In this post I will be reviewing the Omega Trend EA. EA means expert advisor which is the official name for a forex robot in MetaTrader 4 for those who are new to the world of forex robots. It is a fully automated forex trading system that you can set and forget in just 5 minutes on the free MetaTrader 4 trading platform. This Omega Trend EA can be traded fully automated or semi-automated depending on your preferred style.
Omega Trend EA Trading Strategy
The Omega Trend EA uses a unique trading system that works by detecting trends during specific market sessions. It is dynamic in the way it uses a combination of trend lines to try and adjust to the current market conditions and contains 2 different strategies which adds to its diversity. You may choose to trade 1 or both of the strategies – the Omega Trend EA comes with default settings so it is ready to use out of the box and therefore suitable for beginner forex traders.
The Omega Trend EA also includes the Omega Trend Indicator which is a technical indicator that analyses the market for entry signals if you wish to trade the system manually. The indicator tries to identify trends for you and alerts you when it finds a potential entry signal.
Effectively, this forex trading system is 2 for the price of one – you get the fully automated system and manual trading system. This makes it suitable for those who prefer trading manually and also for those who want an automated system they do not have the time or knowledge to trade manually.
The Omega Trend EA can be used in different market conditions and includes filters to try and enter in on the prevailing trend of a currency pair whilst limiting false signals.
Omega Trend EA Back Testing
The Omega Trend EA website contains back testing results showing the performance over 5-12 years. It is worth considering the tests were not done on tick data so the modelling quality is just 90%. For the upmost accuracy, I like to see back tests that are conducted using real tick data, variable spreads and including commission, swaps and slippage.
Omega Trend EA Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Omega Trend EA Summary
This is an automated and manual forex trading system that is flexible and based on trend trading. Visit the Omega Trend EA website for more information.