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Omega Trend EA is One of The Most Successful Expert Advisors

Omega Trend EA

Omega Trend EA is a professional forex robot implemented with 3 simple but powerful trading principles that any trader can use to boost their performance and profits.

The first one is called trend spotting. Every trading session yields dozens of macro and micro trends that can be leveraged for profits. The key lies in selecting the right trend and extracting pips from the most profitable part. To give you the best opportunity to profit, Omega Trend EA is configured to detect a trend close to the beginning of the movement.

The second one is called strategy diversity. A one-size-fits-all strategy isn't practical for today's currency markets. At minimum, you should work with two distinct strategies that take advantage of different types of market movements. Omega Trend EA has two trend indicators tied to specific strategies. This gives you the flexibility to trade with confidence in any market.

And the last one is called dynamic entries & exits. Static entry and exit points often lead to missed profit opportunities and unnecessary account drawdown. Other tools mistakenly set concrete entry and exit points based on factors not tied to volatility. Omega Trend EA avoids this problem by dynamically linking stop loss, trailing stop, and take profit points to the volatility of the market.

Omega Trend EA combines these three profit strategies into a powerful system for trading volatile currency markets successfully.

Omega Trend EA Settings

  • NFA_Rules true/false - switch to "true" if your broker is NFA regulated
  • Max_Spread - maximum allowed spread.
  • Max_Slippage - maximum allowed slippage.
  • AutoGMT_Offset true/false - if TRUE is used, the EA will automatically obtain your broker’s GMT (Greenwich Mean Time) offset. This setting is used in live mode only. For backtesting, set the parameter ManualGMT_Offset to the correct value for your broker.
  • ManualGMT_Offset true/false - Enter your broker’s GMT (Greenwich Mean Time) offset in this field (this is necessary only if you use AutoGMT_Offset=false, or if you want to make a backtest).
  • DST_Usage true/false - if your broker switches the server time between winter and summer Daylight Saving Time (DST), set DST_Usage=true.

==== Omega Trend Settings ====

  • Indicator_TimeFrame - the time frame of Omega Trend Indicator calculation. The default value is 60 (minutes). This means that the Omega Trend Indicator is calculated on the basis of the H1 chart. Omega Trend EA is tuned to the H1 time frame. However, you can make your own tests with different time frames using 1 for an M1 time frame, 5 for an M5 time frame, 15 for an M15 time frame, 30 for an M30 time frame, 60 for an H1 time frame, 240 for an H4 time frame and 1440 for a D1 time frame.
  • Action_TimeFrame - this parameter specifies the sensitivity of the execution of the signals and helps to minimize poor signals. The default value of Action_TimeFrame is 5. This means that a new position will only be taken when a new M5 bar is opened. A zero value for the parameter will remove any restrictions, allowing a new position to be taken at any time.
  • Volatility_Period - the same as the OmegaTrend Indicator Volatility_Period
  • Smooth_Factor - the same as the Omega Trend Indicator Smooth_Factor
  • Max_Width_Pips - the same as the Omega Trend Indicator Max_Width_Pips
  • Min_Follow_Pips - the same as the Omega Trend Indicator Min_Follow_Pips
  • TrendLine_Level - the same as the Omega Trend Indicator TrendLine_Level
  • PivotLine_Level - the same as the Omega Trend Indicator PivotLine_Level
  • Bar_Acceleration - the same as the Omega Trend Indicator Bar_Acceleration.
  • Profit_Acceleration - the same as the Omega Trend Indicator Profit_Acceleration

==== Signal 1 Settings ====

  • Signal_1 (1, 0, -1) - switches on (1)/off (0) the Signal 1 trades. If -1 value is used, switches to stealth mode with hidden stop loss and take profit orders.
  • RecoveryMode_1 true/false - when Recovery Mode is activated, an advanced algorithm will attempt to compensate for the current drawdown by increasing trading volumes. This mode is active only when AutoMM is greater than zero (AutoMM > 0). Before activating Recovery Mode, please bear in mind that it can significantly increase the risk to your account. For this reason, Recovery Mode ought only to be used at low values of the AutoMM parameter.
  • Fixed_Lots_1 - a fixed trading volume if you wish to use your own lot size. In this case leave AutoMM_1=0.
  • AutoMM_1 - automatic risk managemen. Activates at values greater than zero:
    - Example 1: at AutoMM_1 = 2, Omega Trend EA opens positions equal to 0.2 lots (20,000) given an account that extends to 10,000.
    - Example 2: at AutoMM_1 = 10, Omega Trend EA opens positions equal to 1 lot (100,000) given an account that extends to 10,000.
  • AutoMM_Max_1 - the maximum permitted risk, expressed as a percentage of the account per individual transaction calculated based on a 100 pip loss. The AutoMM_Max_1 value matters only when you use RecoveryMode_1=true.
  • Magic_1 - identifies Signal_1 Omega Trend EA trades. In order to avoid confusion with the EA managing its own trades, make sure that this number is not used by any other Expert Advisor.
  • Signal_1_TakeProfit - a fixed take profit value for Signal 1
  • Signal_1_StopLoss - a fixed stop loss value for Signal 1. If a value of zero is used, the stop loss level coincides with the Omega Trend Indicator’s Trend Line.
  • Signal_1_StrongPips - this parameter defines the minimum break on the price through the Omega Trend Line – necessary for the generation of a new trade signal. The default value is zero, which means that a pip break in the Trend Line is enough to generate a signal. If you use a greater value for Signal_1_StrongPips, it will hypothetically increase the profit factor of the system. It will also reduce the frequency of Signal 1.
  • Hour_Filtering true/false - switches on/off the hour filtering for Signal_1
  • TradeHour1 to 9 - hours of the day permitted for trading for Signal_1
  • Swing_Filtering true/false - switches on/off a filter for Signal_1, based on the minimal distance allowed between the market and the moving average.
  • Swing_MA_Period - the average period of swing filter movement.
  • Swing_Impulse - the minimum distance allowed between the market price and the swing filter’s moving average, in pips.
  • NoTradeDay - day of the week without trading.

==== Signal 2 Settings ====

  • Signal_1 (1, 0, -1) - switches on (1)/off (0) Signal 2 trades. If the value -1 is used, switches to stealth mode with hidden stop loss and take profit orders
  • RecoveryMode_2 true/false - when Recovery Mode is activated, an advanced algorithm will try to compensate for the current drawdown by increasing trading volumes. This mode is active only when AutoMM is greater than zero (AutoMM > 0). Before activating Recovery Mode, please bear in mind that it can significantly increase the risk to your account. For this reason, Recovery Mode should only be used at low AutoMM parameter values.
  • Fixed_Lots_2 - a fixed trading volume, if you wish to use your own lot size. If you do, leave AutoMM_2=0.
  • AutoMM_2 - automatic risk management. Activates at values greater than zero:
    - Example 1: at AutoMM_2 = 2, Omega Trend EA opens positions equal to 0.2 lots (20,000) given account extent of 10,000.
    - Example 2: at AutoMM_2 = 10, Omega Trend EA opens positions equal to 1 lot (100,000) given account extent of 10,000.
  • AutoMM_Max_2 - the maximum permitted risk expressed as a percentage of the account per individual transaction, calculated on the basis of a 100 pip loss. The AutoMM_Max_2 value matters only if you use RecoveryMode_2=true.
  • Magic_2 - identifies Signal_2 Omega Trend EA trades. To distinguish its trades from those of other EAs, please ensure that this number is not used by any other Expert Advisor.
  • TargetFactor - an automatic take profit calculation coefficient.
  • Signal_2_TakeProfit - a fixed take profit value for Signal 2. If zero value is used, take profit will be calculated based on the TargetFactor parameter.
  • Signal_2_StopLoss - a fixed stop loss value for Signal 2. If zero value is used, the stop loss level will coincide with the Omega Trend Indicator’s Trend Line.
  • Signal_2_Exit_Profit - the value of the realized profit in pips, at which point the position will be closed, if the price movement starts to slow down. A value of zero will switch off this exit rule.
  • MinStop - a minimum automatic stop loss value for Signal 2, which will automatically execute the signals. Signals with a lower automatic stop loss value will be ignored.
  • IgnoreSmallStopTredes true/false - if TRUE I used, all Signal 2 trades with an automatic stop loss lower than the MinStop parameter will be ignored.
    NOTE: The Omega Trend EA is configured to trade in specific market conditions and this reduces the trading frequency. If you wish to see a higher trading frequency you can change the following parameters as shown:

    For Signal 1:
    Hour_Filtering to false (we recommend this only for experienced traders with opinion about the market timing)
    Swing_Filtering to false
    NoTradeDay to 0

    For Signal 2:
    IgnoreSmallStopTredes to false

Omega Trend EA Backtest Result

Have a closer look at Omega Trend EA's track record over the last 12 years (GBPUSD):

GBPUSD

Period: 1999-2012

Risk: Fixed Lots

Deposit: $10000

Omega Trend EA Backtest on GBPUSD

EURUSD

Period: 2008-2012

Risk: Fixed Lots

Deposit: $5000

Omega Trend EA Backtest on EURUSD

How to backtest Omega Trend EA

If you wish to back-test Omega Trend EA, first you should download history from the MetaTrader history center: click Tools -> History Center, or press the "F2" key of the keyboard. In the list, find the currency pair that you wish to back-test and double click to expand it. Click "1 Minute (M1)" and then click "Download". When the download process is finished, double click on "5 Minutes (M5)” and "15 Minutes (M15)" to convert the M1 data (repeat this for the rest of the time frames). Close the "History Center" window. Restart the MT4 terminal in any case. Check the below image!

To open the "Strategy Tester" window click the "Strategy Tester" button of the MetaTrader menu, or press "Ctrl+R" on the keyboard. In the "Strategy Tester" window chose Omega Trend EA, chose one of the supported currency pairs, chose M15 timeframe, chose the method "Every tick ...", as shown below. Click "Start" to start the back-test.

The back-test by "Every tick" is the most precise, but it is very slow. If you wish to save time you can run the back-test on M1 timeframe by "Open price only ..." method and this will be correct too.

.Set Files For Each Supported Currency Pairs

Omega Trend EA comes with ex4 files for EURUSD and GBPUSD therefore you do not need SET files. The default settings are optimized.

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Omega Trend EA

Buy Omega Trend EA

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Price:  $97    $57

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Disclaimer U.S. Government Required Disclaimer – Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Clearly understand this: Information contained within this course is not an invitation to trade any specific investments. Trading requires risking money in pursuit of future gain. That is your decision. Do not risk any money you cannot afford to lose. This document does not take into account your own individual financial and personal circumstances. It is intended for educational purposes only and NOT as individual investment advice. Do not act on this without advice from your investment professional, who will verify what is suitable for your particular needs & circumstances. Failure to seek detailed professional personally tailored advice prior to acting could lead to you acting contrary to your own best interests & could lead to losses of capital.

*CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

By using FXAutomater's products, you acknowledge that you are familiar with these risks and that you are solely responsible for the outcomes of your decisions. We accept no liability whatsoever for any direct or consequential loss arising from the use of this product. It's to be noted carefully in this respect, that past results are not necessarily indicative of future performance.