Absolute is a Forex expert advisor that made its entry into the industry on 8th April 2021. Being a new EA, it has no notable achievements. However, the vendor claims it had a win rate of 99.5% based on a historical test. Since past performance does not necessarily indicate future results, we must study the different aspects of this system before forming an objective opinion about its profitability.
Detailed Forex robot review
On the MQL5 product page, the vendor has made a brief presentation for this EA. We have a short introduction followed by a list of features and vendor recommendations. There is a list of input parameters for the robot and screenshots of backtesting results.
Aleksei Otroborodov, the creator of FX Absolute, is based in Russia. This person is the founder of Smart Forex Lab, but we don’t know if this company actually exists, because all we have is a Telegram channel bearing that name. The other EAs developed by this person include Candelabrum EA, Traffic Pro, True Range Pro, Good Morning, True Range Smart, and Euphoria.
The Absolute robot uses hard stop loss and take profit with each trade. You also have the option of using trailing stop losses. You can enter the lot size manually or enable the auto volume feature for automatic calculation of the same. The vendor also mentions a spread control feature but fails to provide an explanation for it.
As per vendor recommendation, you should use this EA on a Weltrade hedge account with a minimum deposit of $200. Absolute trades in pairs like GBP/USD and EUR/USD for the M30 timeframe. While trading with this robot, you should use leverage exceeding 1:50. The input parameters of this system are customizable and you can modify them to suit your trading style.
Absolute EA strategy tests
Absolute EA uses a reversal pattern-based scalping strategy for trading the Forex market. Instead of using martingale or grid, it concentrates on price action. To determine the direction of the trend, it uses indicators like Bollinger Bands and SMA. As we know, scalping is a high-frequency strategy, and to use it properly, you need to install a VPS software program. This strategy is only suitable for generating small profits from each trade, so long-term traders generally avoid it.
This backtest was carried out between 2015 and 2020 on the EUR/USD pair. During the testing period, the robot placed 587 trades, out of which it won 582. This means it had a win rate of 99.15%. The total profit generated during this backtest was $10715.28 while the profit factor was 50.94.
There were 210 maximum consecutive wins and only 1 maximum consecutive loss during this backtest. The profit factor was a bit high at 23.72%. This tells us that the EA followed a high-risk trading approach.
Real account trading results
Since the vendor has not shared any links to verified trading accounts on the MQL5 page, we had to conduct our own research. This trading account on Myfxbook was launched on February 25, 2021. In spite of being a scalping bot, Absolute has placed only 55 trades through this account, which is quite odd.
The robot has won all of the trades placed, thus generating a profit of $145.03. This account currently has daily and monthly gains of 0.07% and 2.06%, respectively. Because of the short trading history, we cannot accurately gauge the system’s profitability by analyzing the results.
The current price of the expert advisor is $75, which is pretty close to the market average. If you wish to test the performance of the system without investing real money, you can download the free demo version. Unfortunately, the vendor does not offer a money-back guarantee for this robot.
We were unable to find any customer reviews for this EA on third-party websites like Myfxbook, Quora, Trustpilot, and Forexpeacearmy. Therefore, it is obvious that this expert advisor does not have any kind of reputation in the Forex trading community. While there is a single user review on MQL5, we cannot possibly consider it authentic.
Absolute is not a Forex robot that you can rely on right now. Having only placed 55 trades during its live trading stint, the system has not been exposed to different market conditions. Also, we have little or no information on the vendor, which is not a sign of a trustworthy robot.