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Robot Review: Momentum EA

Today I’m reviewing an automatic price action swing system that utilizes multiple strategies in an effort to be reliable and all market conditions, Momentum EA. In my review I will be analyzing the strategy, the trading results and going over some of the community feedback to see if this is a genuine opportunity to we should be getting excited about.

The creator of the EA is Wim Schrynemakers, who is currently selling 6 expert advisors on the MQL5 marketplace. His focus tends to be on momentum-based systems, and scalpers with large price tags. Outside of this community, Wim does not have an extensive reputation in the Forex market. In order to get in touch with support, traders can leave a comment, or direct message Wim through his MQL5 profile page.


Momentum EA Review

As I mentioned above, the Momentum EA has 2 separate strategies, so let’s take a closer look at these now. The first strategy is looking to take advantage of strong price movements by “opening multiple trades in the direction of that trend.” Then, the EA monitors the profit levels and when it exceeds a certain point, the entire group of trades will be closed. If the trend continues in the same direction, then the EA will take advantage of that momentum and continue opening more trades, but does not use any elements of grid trading.

The second strategy essentially does the exact opposite of the original strategy as it focuses on trend reversals. Again, the software will open multiple trades and then look to close the mall when a certain level of profit is exceeded.

Depending on the trade, the EA can use either a fixed take profit, or a trailing stop. In terms of stop, the vendor wants to keep it very close to the take profit in order to protect capital. This can make for more losses, but at a lower pip level.


  • Type: Forex Robot
  • Price: $750
  • Strategy: Price action swing
  • Timeframe: M1, M5, M15, M30, H1

It’s rare to see an EA be compatible with so many different timeframes and pairs. In this case, the EA can be used with all of the pairs listed above, except for when utilizing the M1 timeframe, which requires traders use only the EURUSd and GBPUSD.

In terms of price, the Momentum EA is going for a large price tag of $750. Traders can sign up for 3 months at $190, 6 months at $350, or 1 year at $500 but none of these options interest me very much because I don’t like monthly payments. There is a free demo as well, which I would certainly recommend testing thoroughly before signing up.

Trading Results

The vendor provides us with multiple backtests that mostly show the Momentum EA running on the M1 and M5 timeframes. I assume that this means that these two timeframes are the most profitable, as there are no backtests showing M15, M30 or H1. The backtests are generally from 2007-2017, or 2014-2016. As we approach the end of 2016, hopefully the vendor provides more tests to show how the software performed this year.

There aren’t any verified Myfxbook accounts, which is the main drawback of this trading system. Back tests do not provide the quality, or the transparency that I’m looking for as we move into 2017 and beyond. I appreciate the fact that Wim is providing us with some results, but when it comes to spending $750, I need to see active live or demo trading accounts.

Just seeing that a software performed well in backtests, does not mean that it will perform well in the future.

Client Feedback

There are currently 45 reviews for the Momentum EA, and the average rating is 4 stars. There are quite a few positive reviews over the last 4 months, and the negative reviews are few and far between.

Like most EA’s it seems like the system goes in ebs and flows, but for the most part it seems to be winning.

I also found a client Myfxbook account which is showing a 19% gain with an 11% drawdown.


I do have some interest in the Momentum EA because the reviews are quite positive, and the client Myfxbook account looks pretty stable so far. I would like to monitor this account for a few more months before I sign up though, as $750 isn’t the type of investment I’ll just jump right into.

If you’ve used this EA, or you just have some thoughts you would like to share, now is the time to comment.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

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