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Forex Thor EA - Expert Advisor in Forward Test

Forex ThorIn Viking Norse mythology, Thor was a hammer wielding thunder god, and it's my best guess that this old mythology has played a big part in the naming of the Forex Thor EA which I've just put into forward test at MellyForex. Was it really that difficult to make my deduction by looking at the streaks of lightning and the hammer which are clearly displayed on the Forex Thor box? :roll:

Anyway, now we've established that Inspector Clouseau needn't worry about the safety of his employment, please allow me to tell you what little snippets of information I know about Forex Thor.

Firstly, the Forex Thor EA is a scalper which, at the time of writing this article, is brand new to the market. It runs on the 30-minute chart timeframe of the EURUSD symbol, and I have to be be perfectly honest and say that I'm not entirely sure what logic it uses to get its mojo. The video on the developer's website talks about money flow, so I can only hazard a guess that trade decisions are volume related.

The literature suggests that the EA employs a combination of three different strategies, and each strategy can either be used independently of the other two, or all three strategies can be used together concurrently. From the developer's own backtests, it looks at first glance that employing all three strategies together may render the EA as NFA non-compliant in terms of FIFO. The backtests certainly showed Forex Thor as having more than one trade open at a time, and the stop-loss handling didn't look to me as though it complied with FIFO. It's my initial suspicion, therefore, that US-based traders who want to run Forex Thor with all three strategies will have to run the EA on three separate broker's accounts, with only one strategy per broker. Obviously users in the rest of the world won't have any problem trading all three strategies together.

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