Forex Cleaner Review

Product: Forex Cleaner
Price: $99.00
What You Receive: Forex Cleaner Installer, installation guide
Currency Pair: EURUSD
Timeframe: 30 minute
Guarantee: 60 day money back guarantee

What’s Behind The Forex Cleaner Advisor?

The core strategy behind this EA attempts to identify tops and bottoms in the market for its trade entries. However it doesn’t just blindly enter each potential trade position identified. It also makes use of a range of indicators to qualify its entries, including Bollinger Bands, ATR (Average True Range) and Moving Averages. This in conjunction with its ‘price action’ algorithm allows the robot to filter out many of the weaker signals before opening a trading position.

The take profit and stop loss levels are dynamically managed on each trade with this strategy. The exact level will depend upon the market volatility at the time of trading. The system compensates for this and assigns the most appropriate level for the prevailing conditions. At the time of writing the systems is showing a TP average of 65 pips since we started testing it and a similar figure for stops.

A lot is made on the vendors site about the fact that this system is not a scalping robot (it trades the 30m time frame). Scalpers seem to have got themselves a bad name at present- though this is more likely due simply to the market saturation of these systems. Oh and of course then often need a good broker low spread broker to be able to get the best out of their performance. However there does seem to be a need for many of the newer robot vendors to try to distance their product from such an association.

However although it is not(!) following a scalping strategy, this system is  does show a good amount of trading action. Expect to see a position opened on most days.

The wider thirty minute time frame used by the strategy will also mean there is less problem with broker compatibility. It also suggests that the back tests we undertook should prove a representative indication of the results that are achievable from running the robot on your account.

Forex Cleaner is also fully NFA Hedging and FiFO compliant. This means it will only ever have one position open in the market at any one time and can used in conjunction with US based brokers.

How to Use Forex Cleaner

While no manual was being provided with the software at the time of  purchase, a sufficient set of installation instructions is provided on the website. These take your through the simple 7 step process of installing and configuring the system. This is itself simple, with Forex Cleaner being provided as a packaged installer. So getting yourself up and running is a straightforward ‘click through’ affair.

The default settings provided are recommended. So all thats left to do is bring up a 30 minute EURUSD chart and set the EA to work on it.

A particularly nice feature worth mentioning is that the license purchased covers the usage of the robot on two live accounts and up to three demo accounts. Other vendors could take a lesson from this approach as it actually makes this system incredibly cheap in you are planning to run it across multiple accounts.

Forex Cleaner Backtests

Backtests for Forex Cleaner were carried out with a 2 pip spread using Alpari UK data. Default trade settings were used.

For a full breakdown of trades taken click on the chart below to open up the respective MetaTrader Strategy report.

Of note the EA performs strongly in the 2011 and 2010 test results, although longer term there have been long periods of little real growth.

This suggests that the strategy has been optimised towards the most recent markets in order to boost performance. However this is no not necessarily a bad thing, as ultimately the aim is to make profits in the current markets. Therefore whether the system was firing on all cylinders five years ago is only of limited relevance.

EURUSD 2011

EURUSD 2010

EURUSD 2005-2010

Forex Cleaner Verdict

The question of course that needs answering with any system is ‘can it actually perform?’.

While there are  plenty of back tests we could find on this system, we, like you wanted to know how the system would perform, on a live account, in real market conditions.

Of course as usual, this is what we have done and put Forex Cleaner live on an FX Open account.

The robot has now been on test for little over a month and is showing a 9.3% return at the time of writing with a win rate of 67.5% and a profit factor of 1.92%.

So a solid if not spectacular start, but a profit nonetheless and achieved in the particularly volatile markets of late . This system is certainly going to remain high on our watch list and could well feature in our end of year recommendations.

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