PZ Trend Trading is an indicator that determines the current momentum of the market. Based on the settings, it can show if the price is trending in a bullish or bearish direction. It works better on the weekly daily and the H4 charts. Our article will discuss the possible features of the indicator that traders can use to their advantage.
Detailed forex robot review
The indicator is available to download through the MQL 5 web page and the developers’ website. The developers detail all the working methodology of the indicator neatly on a single page. They provide screenshots so traders can better understand the proper functioning of the indicator.
The product developer is Arturo Loper Perez, who has more than seven years of experience in the financial industry, according to the MQL 5 marketplace. He has 179 products listed in the marketplace. A total of 1114 reviews give him a rating of 3.9.
PZ Trend Trading has the following set of features:
- It comes with various settings that traders can modify according to requirements
- It can be used to know the exact entry points in a trend
- Can work on multiple time frames
- The indicator does not repaint and provides alerts on email and mobile phone if needed
How does it work?
The algorithm is available to download after your purchase on the MQL 5 marketplace or the developers’ website. Traders will have to log in to their MT 5 or 4 platform and install the indicator through the marketplace or place the ex4 file in the experts’ directory, respectively. After that, place it on the respective chart and enable auto trading.
PZ Trend Trading strategy tests
PZ Trend Trading works of the H4, daily, and weekly charts. It shows bullish, bearish trend changes and also depicts pullbacks and breakouts. It also comes with an oscillator that shows the momentum of the current trend. Traders can use the respective trend indications from the algorithm and take a long or short trade, respectively.
As the product is the indicator, it is not possible to backtest it. However, the developer could have used forex simulators for backtesting and recording the results.
Real trading results
Real trading results are tracked via Myfxbook, which shows performance from Dec 29, 2020, till Aug 06, 2021. Since then, the robot has had an average monthly gain of -60.33%, with a drawdown of 100%. The drawdown value shows that the indicator reached a margin call during trading. The outcome is disastrous in other words. There were 206 trades in total, with 81.28 lots traded. The individual traded with a winning rate of 62% with a profit factor of 1.60. The best trade was $737.28, while the worst one was -$700.40. Multiple currency pairs were utilized for trading.
The indicator can be bought via MQL 5 marketplace for $299 for the MT 5 platform or for the same price for the MT4. It is also possible to rent it out for one month for $49, but this option is only available for the MT 5. There is no money-back guarantee.
Customer reviews are only available on Forex Peace Army for Point Zero Trading, which gives them a 4.495 rating for 107 feedback. Customers complain about not receiving their product even after payment.
PZ Trend Trading should be used with extreme caution as it can cause margin calls on an account. The live results on Myfxbook are not satisfactory and show complete liquidation of the portfolio.