Forex Pip Bot is an Expert Advisor built using the Adaptive Market Engine which allows the system to identify patterns in candlestick charts and make better trading decisions.
The software runs on MetaTrader 4 and is compatible with any broker. The EA has built-in money management, automatic lot scaling, broker protection and update features. It’s easy to install and runs on 100% autopilot. Forex Pip Bot also provides tutorials and training material in its member’s area.
The backtest for 1 year shows a low drawdown of 8.45% which is good, but thinking ahead I always like to evaluate the average profit and loss. In this case the average loss is significantly higher than the average profitable trade, which indicates higher risk. The strategy doesn’t use a stop loss as well.
On the up side the EA works on low volatility pairs such as EURCHF or AUDNZD, which can afford the higher risk strategy.
Some additional details:
- Cost: $97
- Currency pairs supported: EURCHF, AUDNZD
- Guarantee: Clickbank’s 60-day 100% Money Back