OmniTrader Pro EA MT4 – Free Download

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Introduction OmniTrader Pro EA

The world of forex trading is constantly evolving, with new tools and strategies emerging to help traders maximize their profits and manage their risks. One such tool is the OmniTrader Pro EA, a sophisticated Expert Advisor (EA) designed for use on MetaTrader 5 (MT5). This EA is a portfolio of 11 SmartForexExpert EAs, each tailored to different market behaviors including momentum, reversal, and trend trading. In this article, we will provide a detailed review of OmniTrader Pro EA, exploring its features, advantages, disadvantages, and overall performance.

Technical Specifications

Version: 3.1
Year of issue: 2024
Working pairs: Any
Recommended timeframe:Β  M5
Minimum Deposit: $500Β 
Average of account:Β  1:30 to 1:1000

Best Brokers List

OmniTrader Pro EA can workΒ  with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:

BROKER NAMEREGISTERYear Founded Headquartered LeverageMinimum Deposit Regulating
OmniTrader Pro EA MT4 - Free Download 2
Register2007
πŸ‡¦πŸ‡Ί Australia
πŸ‡¨πŸ‡Ύ Cyprus
πŸ‡§πŸ‡Έ The Bahamas
πŸ‡ΈπŸ‡Ώ Seychelles
1:1000$200ASIC, SCB, FSA
OmniTrader Pro EA MT4 - Free Download 3Register2008
πŸ‡¨πŸ‡Ύ Cyprus
1:Unlimited$10CySEC, FCA, FSCA, FSA, BVI
OmniTrader Pro EA MT4 - Free Download 4Register2009
πŸ‡§πŸ‡Ώ Belize
1:2000$10FSC
OmniTrader Pro EA MT4 - Free Download 5Register2009
πŸ‡§πŸ‡Ώ Belize
1:3000$1IFCS
OmniTrader Pro EA MT4 - Free Download 6Register2009
πŸ‡¨πŸ‡Ύ Cyprus
πŸ‡¦πŸ‡Ί Australia
πŸ‡§πŸ‡Ώ Belize
πŸ‡¦πŸ‡ͺ Emirates
1:1000$5 ASIC, CySEC , IFSC
OmniTrader Pro EA MT4 - Free Download 7Register2010
πŸ‡¦πŸ‡Ί Australia
1:500$200FCA , ASIC, DFSA
OmniTrader Pro EA MT4 - Free Download 8Register2011
πŸ‡¬πŸ‡§ England
1:500$25CySEC
OmniTrader Pro EA MT4 - Free Download 9Register2006
πŸ‡ͺπŸ‡­ Ireland
1:400 $100CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA

OmniTrader Pro EA Settings

OmniTrader Pro EA MT4 - Free Download 10

Features of OmniTrader Pro EA

Diverse EA Portfolio

OmniTrader Pro EA integrates 11 distinct EAs, providing a diversified approach to forex trading. These EAs are categorized into three main types:

  • Momentum EAs: Crypto Master, Price Action, Attractor, Kiss, Alpha.
  • Reversal EAs: Night Scalper, Stealth.
  • Trend EAs: Trend, Indices, Gold, Bitcoin.

Version 3.0 Enhancements

The latest version, 3.0, includes the Crypto Master EA, optimized for cryptocurrency trading. This integration allows traders to capitalize on the growing crypto market within the same EA framework.

Efficient Resource Management

Despite combining multiple EAs, OmniTrader Pro EA is designed to run efficiently on a single MT5 file. This ensures minimal demand on computer resources, allowing the EA to operate smoothly alongside other trading applications.

Unified Management

All trading activities can be managed through one M5 chart, simplifying the monitoring and adjustment processes. This unified approach enhances user convenience and operational efficiency.

Customizable Parameters

OmniTrader Pro EA offers extensive customization options to suit individual trading preferences and strategies. Key parameters include:

  • Broker GMT and DST Settings: Adjust for broker-specific time settings.
  • Symbol Suffix: Customize symbol lists to match broker requirements.
  • Calendar Filter: Integrate economic calendar data to refine trading decisions.
  • Auto Lot and Risk Management: Define balance percentages and risk per trade to automate position sizing.
  • Backtesting: Conduct backtests on the M5 timeframe to evaluate performance across all symbols.

Review OmniTrader Pro EA Results

OmniTrader Pro EA MT4 - Free Download 11OmniTrader Pro EA MT4 - Free Download 12

T1

  1. Monthly Performance: The EA has shown consistent positive gains from January to June 2024, with the highest monthly gain in April at 10.84%. This indicates strong performance in recent months.
  2. Currency Popularity: For April, ETHUSD was the most traded pair at 25.0%, followed by BTCUSD at 14.3%. This suggests a focus on cryptocurrency pairs.
  3. Reward:Risk Ratios: NZDUSD shows the highest reward:risk ratio at 28.68, which is exceptionally high. BTCUSD follows at 4.52. Most other pairs have ratios around 1 or below.
  4. Average Holding Time: There's a mix of long and short positions across different pairs, with GBPUSD and EURUSD having the longest average holding times for short positions.

T2

  1. Overall Performance:
  • Total Gain: 1,430.20%
  • Absolute Gain: 255.22%
  • Current Balance: €3,413.81
  • Total Profit: €7,483.81
  1. Drawdown: 34.48%, which is relatively high but not uncommon for a high-performing EA.
  2. Growth Chart: The profit curve shows consistent growth since October 2015, with some periods of faster growth and occasional plateaus.
  3. Deposits and Withdrawals: Total deposits: €2,932.27 Total withdrawals: €7,002.27 This indicates that the EA has not only grown the account but also allowed for significant withdrawals.

Expert Analysis: This EA demonstrates impressive long-term performance with a substantial total gain of 1,430.20% over nearly 9 years. The consistent upward trend in the profit curve suggests reliability. However, the 34.48% drawdown indicates some risk, which traders should be aware of.

The EA seems to perform particularly well with cryptocurrency pairs and shows adaptability across various currency pairs. The high reward:risk ratio for NZDUSD is noteworthy but unusual, and might warrant further investigation.

The mix of long and short positions across different pairs suggests a versatile strategy. The ability to generate profit while also allowing for significant withdrawals is a positive sign of real-world applicability.

Overall, this EA shows strong potential, but as with any trading system, proper risk management and ongoing monitoring are crucial.

Advantages of OmniTrader Pro EA

Diversification

By incorporating multiple EAs, OmniTrader Pro EA allows traders to diversify their strategies, reducing the overall risk. Different EAs perform optimally under various market conditions, ensuring a more balanced trading approach.

User-Friendly

The EA's design focuses on ease of use, with a single chart management system and customizable parameters. This makes it accessible even for traders with limited technical expertise.

Versatility

The inclusion of a Crypto Master EA alongside traditional forex and commodity EAs broadens the scope of trading opportunities. Traders can benefit from the volatility and potential high returns of the cryptocurrency market.

Efficiency

OmniTrader Pro EA's low resource demand ensures that it does not hinder the performance of other applications on the trader's computer. This is crucial for maintaining a stable and responsive trading environment.

Backtesting Capabilities

The ability to backtest all symbols together on the M5 timeframe provides a comprehensive evaluation of the EA's performance. This helps traders fine-tune their strategies before committing real capital.

Disadvantages of OmniTrader Pro EA

Complexity

Despite its user-friendly design, the sheer number of customizable parameters can be overwhelming for beginners. Proper understanding and adjustment of these parameters are crucial for optimal performance.

Dependency on Broker Settings

The EA's performance can be influenced by broker-specific factors such as GMT offset and DST adjustments. Incorrect settings may lead to suboptimal trading decisions.

Market-Specific Performance

While the diverse EAs cover a wide range of market conditions, their individual performance may vary. Traders must continuously monitor and adjust their strategies to ensure consistent results.

Initial Setup

Setting up OmniTrader Pro EA requires careful configuration of various parameters, which can be time-consuming. Traders need to invest time in understanding and optimizing these settings for their specific needs.

Conclusion

OmniTrader Pro EA stands out as a robust and versatile trading tool, offering a comprehensive suite of EAs to cater to different market conditions. Its diverse approach, combined with efficient resource management and extensive customization options, makes it a valuable asset for both novice and experienced traders. However, its complexity and dependency on broker settings require careful consideration and continuous monitoring. As with any trading tool, proper understanding and prudent management are key to harnessing its full potential.

Download OmniTrader Pro EA

Please try for at least a week an ICMarket demo account. Also, familiarize yourself with and understand how this free forex Tool works before using it on a live account.

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Author: Forex Wiki Team
We are a team of highly experienced Forex Traders [2000-2023] who are dedicated to living life on our own terms. Our primary objective is to attain financial independence and freedom, and we have pursued self-education and gained extensive experience in the Forex market as our means to achieve a self-sustainable lifestyle.