In this post I will be reviewing the Happy Algorithm Pro fully automated forex trading system designed to run in the MetaTrader 4 (MT4) platform which is used by millions of traders from around the world and available free to download from most forex brokers.
I would personally always look to open an MT4 trading account with an ECN forex broker for the lowest spreads and good execution speeds. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
The Happy Algorithm Pro EA is suitable for traders of various experience levels due to the fact that it can analyse the charts and place/manage trades on behalf of the trader. I have previously reviewed other forex robots from the developers over at Happy Forex including the Happy Frequency EA and Happy Breakout EA.
Happy Algorithm Pro Trading Strategy
The developers of the Happy Algorithm Pro EA state that it will try to measure deflections of the correlative and can also measure performance of the settings, conducting dynamic statistical analysis in order to get what it deems to be the optimal stop loss and take profit which can depend on current market conditions.
The EA can measure the valid deflection of the price of the particular correlative pairs and display the difference as a line. The close is usually presented within a particular limit. As soon as the close reaches off the limit, the EA will trade it and close it after the return into the middle value.
If that all sounds like gobbledygook to you than don’t worry. It is a fancy way of saying that this particular forex robot has a built-in algorithm that analyses you charts for entry signals that match its predefined criteria.
The Happy Algorithm Pro EA has been optimised for the EURUSD and USDCHF currency pairs on the daily time frame. The more experienced traders amongst you may wish to use the MT4 strategy tester to optimise the EA for alternative currency pairs and chart time frames.
Happy Algorithm Pro Back Testing
Disappointingly, the Happy Forex team have not shared any back-testing results of this particular EA. I would have liked to have seen some real tick data back tests using Birts TDS and the MT4 strategy tester for 99% modelling quality. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.
Happy Algorithm Pro Live Results
Happy Algorithm Pro Summary
Overall, the Happy Algorithm Pro EA it is not a strategy that I would personally use primarily due to the open trades and drawdown. That being said, it can be purchased as part of a package of forex robots from Happy Forex.
I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA.
The Happy Algorithm Pro EA does come with setup instructions, free updates, support and a money back guarantee.