Harmonics Trader is a relatively new forex expert advisor being sold for $149 on Paypal.
About The Developer
Very little information is given about the developer of the Harmonics Trader EA. I couldn’t seem to find a real persons name behind the software, just the name of the website.
Strategy
Uses the free ZUP indicator (ZigZag and Pesavento Patterns). It has been hardcoded to look for classical patterns only which are the Gartley, Butterfly, Bat, Crab, Shark and the 5-0 pattern.
Results
The results for this Harmonic EA are not very impressive at all, and I could only seem to find demo accounts. Here is a look at a few of them…
Refund Policy
HarmonicsTrader.com does NOT issue refunds while the customer has been given the opportunity to download and evaluate the HarmonicsTrader EA on a Demo account and the MT4 Strategy Tester.
This is a quote from their policy, so I take this as there being no refunds with this product at all.
Conclusion
Because of the no refund policy, lack of real results, and poor demo results, I can not recommend this Harmonics Trader EA. Use it at your own risk!
HarmonicsTrader Rating
Remember to rate and leave a comment below if you have any experience or questions regarding this product.
I spent a month coding up a Harmonic trader EA based on ZUP and backtested it on several pairs (using prices over the past 2 years). The results were not impressive – not that much above break-even. The problem is that the Harmonic patterns can change between going short or long in a short time frame on the same pair; they also often show up too late, so your profit potential is reduced. I can share the results if anyone is interested or maybe even the EA code, but anyway I would not recommend using this method for trading.
I TOTALLY agree with this evaluation.