Omega Trend EA is an MT4 tool from FXAutomater that claims to possess a potent trading system of combined profit-generating approaches. This FX robot promises successful trading in volatile market conditions. You can buy this FX EA for $97 now as the vendor has discounted the earlier price of $147. With three demo accounts and a real account, the package offers 24/7 support, free lifetime updates, a guide for installation and use, and a 60-day money-back guarantee.
Omega Trend EA Trading Strategy
As per the vendor, this ATS uses three different trading approaches for enhancing performance and profit. They include trend spotting, strategy diversity, and dynamic trade entries and exits. A short explanation of each of the trading approaches is present on the official site.
While trend spotting, as the name implies, helps to identify market trends, the strategy diversity feature uses two different trend indicators for better flexibility while facing changing market situations. The third approach uses dynamic instead of static trade execution to compensate for market volatility.
After purchasing the EA, you need to download the software and install it which takes just a few minutes. Once installation is complete, you can start trading.
Omega Trend EA Features
The main features that the vendor focuses on include money management and time management systems. With the MM you can fix your risk tolerance in percentage and the EA calculates lot sizes based on the risk and the free margin of your account. Recovery Mode is a feature that the vendor claims to recover losses. With the time management feature, the ATS allows trading during particular hours and days. The vendor claims that this allows skipping dangerous periods and ensuring the best results from the trading. For detecting market trends this FX EA uses a trend indicator. It uses the H1 timeframe and supports the GBPUSD, EURJPY, and EURUSD pairs.
Omega Trend EA Backtesting Results
The vendor provides several backtesting results on the site. Here is a screenshot of the strategy tester report for the GBPUSD pair with the H1 timeframe.
From the above report, we can see that the modeling quality is 90% only. We prefer 99.9% modeling quality or more as it provides info on the slippage, commission, spread, and other related data. For an initial deposit of $2000, a total net profit of 21996.38 is shown. The maximum drawdown value for the test done from 2001 up to 2020 is 11.62%. A profit factor of 1.26 and profitability of 59.08% are present. The profits are not as high as claimed by the vendor.
Omega Trend EA Live Trading Results
A real live USD account verified by the myfxbook site is found on the official site. Here is a screenshot of the trading stats and history.
From the above screenshots, we can find that the total and absolute profits are similar at 61.49%. A drawdown of 32.86% is present for this account while the daily and monthly profits are 0.25% and 7.87% respectively. The deposits show $222 with a balance of $360. For the trading started in December 2020, a total of 361 trades are indicated with a profitability of 64%. The profit factor value is 1.30. From the trading history, we find that the trading involves the use of lot sizes of 0.01 and 0.03. Some of the open trades reveal a lot size of 0.04 and 0.05. The high drawdown and low profits indicate the performance is not as powerful as claimed by the vendor. When compared to the backtesting report and the real account trading we find the values are similar except for the drawdown. A high drawdown is a definite indicator of a high-risk approach.
Omega Trend EA Reputation
According to the info present in the ‘About Us’ section, the FXautomator group includes a team of professional Forex traders having a collective experience of 15 years. The company has spent over a decade perfecting various trading strategies to ensure traders benefit from them. Smart Scalper Pro, Grid Master Pro are some of the other FX robots of this company. Besides the EAs, the vendor also promotes FX indicators including Market insider.
A single review from 2013 is present for the company on Forex Peace Army. Here is a screenshot of the feedback.
From the feedback, the profits are not high and the user feels that lots are small. The lack of recent reviews for this EA suggests that it is not a popular system.
Omega Trend EA Review Summary
Overall Rating: 5
- Strategy – 5/10
- Functionality & Features – 5/10
- Trading Results – 5/10
- Reliability – 4/10
- Pricing – 6/10
Conclusion
Omega Trend EA promises a powerful trading experience with its combined trading approach. However, our analysis of the strategy backtests, and live results show that the system is not effective or reliable. The high drawdown, varying lot sizes, and low profits indicate the approach used is not as effective as claimed by the vendor. In short, this is not a system we would recommend.
