RP FourThousand EA MT5

The RP FourThousand EA MT5 is an automated trading system designed by Richard Louis Pastor. It employs the Keltner Channels Indicator as a core strategy for identifying optimal trade entries. But how effective and reliable is this EA? Let’s delve into its working mechanism, performance, and user reviews to find out.

Understanding the Strategy

The Keltner Channels Indicator, used by this EA, consists of three lines – an exponential moving average (EMA) in the center, and upper and lower channels based on the average true range (ATR). When the market price breaches the upper channel, it generates a buy signal, and when it crosses below the lower channel, a sell signal is generated. This strategy is effective in theory because it combines trend following and mean reversion techniques.

Performance and User Reviews

Despite its sound strategy, the RP FourThousand EA MT5 has a rather low rating of 2, based on user reviews. One user mentions that the system works correctly on the platform but criticizes the slow or non-existent support. Another user rates it poorly without providing a detailed reason. This suggests potential issues in customer support and system performance that need to be addressed.

Availability and Pricing

The RP FourThousand EA MT5 trading system is available for free. It’s unknown how many times it has been downloaded, but its first publication date was September 4, 2023.

Conclusion and Recommendations

While the strategy used by the RP FourThousand EA MT5 is theoretically effective, user reviews suggest potential issues with customer support and possibly with the system’s performance. Potential users are advised to test this EA on a demo account before going live. Also, remember to have a solid risk management strategy in place.

For more information about this EA’s performance, users can visit Forexroboteasy.com. Additionally, sample source codes can be downloaded from the easytradingforum.com.