PZ Trend trading is available on the MQL 5 marketplace and the developers’ website. The indicator provides information on the trends by using a multi-timeframe scanner that scans all the instruments in the market watch. Our article will discuss all the essential features of the indicator and discuss if it is profitable or not.
Arturo Lopez Perez is the developer of the product who resides in Andorra. He has 179 products in the MQL5 marketplace and four signals with 23 subscribers. He has more than seven years of experience in the financial industry.
To choose the best trading indicator, traders must look if the algorithm repaints itself or not. The systems that are repainting can be extremely confusing to follow and usually result in big drawdowns.
PZ Trend Trading features
PZ Trend Trading has the following features:
- It trades multiple currency pairs
- It works on both MetaTrader 4 and 5 platforms
- It comes with various settings that traders can adjust according to the strategy they are using
- It determines both the bullish and bearish trends and provides information on the pullback and breakouts
The robot is available for $299 at the MQL 5 marketplace and on the developer’s website. It is also possible to rent it for a month at $49. There is no money-back guarantee as per the rules of the MQL 5 marketplace, and there is also no information about it on the programmer’s website.
How it works
The indicator can be downloaded from the MQL 5 marketplace through the MetaTrader Platforms and placed on the charts. If you purchase from the website, it is essential to place the ex4 file in the indicators directory and refresh the indicators tab. After that, you can start trading by attaching it to different currency pairs.
The indicator works on the H4, daily, and weekly charts. It is able to determine the trends, pullbacks, and breakouts. It paints possible trading opportunities on the chart, which traders can then implement through manual trading. The blue bars represent an uptrend, while the red ones point to the bearish nature of the market. The developer recommends that novice traders stick to the higher time frames as it can confuse them on the lower charts. Traders can use the indicator alongside the PZ oscillator.
Verified trading records are available on Myfxbook, which shows records from Dec 29, 2020, till the current date. The indicator provided an average monthly gain of -57.87% with a drawdown of 100%. During the duration, there were 231 trades and 91.88 lots traded. It had a winning rate of 57% with a profit factor of 1.40. The best trade was $737.28, while the worst was -$700.40. While trading with the help of the indicator, the account resulted in a margin call. The results are horrendous in this regard as it indicates the complete loss of funds.
Customer reviews are available on the Forex Peace Army for the company, which have a rating of 4.495 for a total of 107 feedbacks. Customers comment that the developer is copying systems from other programmers and reselling them. They indicate that the use of different products has only resulted in margin calls.