Forex Crescendo EA is a quality trading system from Mark McRae. The website has tons of trading proof and statistics from the live accounts. Mark even gives access to his Live account to the members. This is a refreshing proof after tons of small scam robots that came out on the market last month.
The system trades 2 pairs gbpjpy and gbpusd independently. The trading strategy is based on the grid trading. Here is how it works.
Once in a while (actually once in several hours depending on "frequency" parameter) the robot opens a new position if the price reached the "order_step" distance from the previous value.
The signal direction is calculated by HullMA indicator on H4 timeframe. However you can use "manual_trend" to set a specific direction instead manually.
When the "basket" reaches the desired amount "target_profit" all trades are closed. Normally EA targets at $4 or $40 as a target depending on your settings.
In a worst case if maximum drawdown reached "max_total_DD" all positions will be closed.
Backtests for the grid trading systems are inaccurate so it is better to rely on live trading results. Forex Crescendo live trading showed pretty solid results which makes me think this EA has a great potential. I have checked other forums and noticed even great developers like Mark from Forex Harvester seem to like this system.
I started my forward test yesterday. I will report results shortly.
Here you can find my detailed report about this EA.