Absolute is a Forex expert advisor that claims to have a 99.5% profitability based on a 5-year backtest. It was launched on 8th April 2021 and is currently available on the MQL5 website. Before we can term this a reliable system, however, we need to look into things like live performance, price, backtests, trading strategy, and customer reviews.
How Absolute EA works
There is a dearth of information about this robot on the MQL5 website, which is quite disappointing. The vendor has not clearly explained how this expert advisor works on a trading platform. We have a short list of features and some vendor recommendations. They have also shared the set files for two different pairs and listed some of the input parameters of the EA. Finally, there are a few screenshots of live results and backtests.
Absolute is a product created by Aleksei Ostroborodov, a Russian trader who is also the founder of Smart Forex Lab. We know virtually nothing about this company’s background and it is unclear where it is located. Also, it is not possible to determine whether this person works alone or as a part of a team. Apart from Absolute, this developer has built other EAs like True Range Pro, Candelabrum, True Range Smart, Good Morning, and Euphoria.
This robot uses calculated take profit and hard stop loss with each trade. You also have the option of using a trailing stop loss. Absolute has a spread control feature, but the vendor does not clearly explain how it works. There is a Telegram channel for this expert advisor where you can get in touch with the vendor.
The vendor recommends using a Weltrade hedge account with this robot. To get started, you need to make a minimum deposit of $200. It is also recommended that you use leverage exceeding 1:50. You can trade in GBP/USD and EUR/USD using this EA and according to the vendor, you should stick to the M30 timeframe.
Absolute uses a scalping strategy that is based on reversal patterns. It is a pure price action trading system that does not use grid or martingale. The vendor has mentioned that the robot trades the trend and uses Bollinger Bands and SMA for determining the direction. Here, we must mention that the scalping strategy is only suitable for generating small profits from each trade. It is a high-frequency trading scheme that requires you to be aware at all times and thus might not be suitable for novice traders.
This backtest was conducted on the GBP/USD pair from 2015 to 2020 with 100% history quality. The EA placed a total of 351 trades during the testing period, winning 99.72% of them and generating a total profit of $21,548.89.
For this backtest, the profit factor was 3665.78, which is quite unrealistic. It makes us wonder whether the vendor manufactured these results. The relative equity drawdown was quite high at 24.14%. This tells us that the EA followed a high-risk strategy. There were 196 maximum consecutive wins and 1 maximum consecutive loss during this backtest.
Absolute trading results
This live trading account on the Myfxbook website has been active since February 25, 2021. To date, the EA has placed only 51 trades through this account, which is quite odd, since scalping systems typically place a lot of trades within a short time span. Nevertheless, due to the short trading history, it is difficult to accurately gauge the profitability of this trading system.
Absolute has won all of these 51 trades, generating a small profit of $135.38. The account has daily and monthly gains of 0.07% and 2.05%, respectively. The drawdown for this account is 10.65%, which is significantly lower in comparison to the backtesting data.
Pricing & refund
You can buy Absolute for the price of $75, which is pretty close to the market average. There is a free demo version of the EA you can download if you need to test the performance. However, no refund policy exists for it.
We couldn’t find any authentic user reviews for this EA on third-party websites. There is a single review on the MQL5 website, but of course, we cannot take this seriously, since the vendor could have paid someone to write it.