EA Black Dragon has multiple settings that enable it to use hedging techniques, adjust the stop loss, or take profit on trades. The algorithm can trade with a fixed number of orders and has a spread filter to avoid trading during volatile conditions.
Ramil Minniakhmetov is the author of the product who resides in Russia and has 11 products published in the MQL 5 marketplace. His other publications include Asia Trend EA, Element Gold, Black Dragon and more. We will review the backtesting and live records of EA Black Dragon to see if the system is profitable.
The highlights of EA Black Dragon
According to the provider, the EA has the following features that set it apart from other algorithms in the market.
Black Dragon indicator
The algorithm uses a custom indicator developed by the author. It opens trades corresponding to the color of the indicator and can trade on multiple instruments.
The robot comes with multiple settings that can be tweaked according to the trader’s choice. It is possible to adjust the lot multiplier and the hedging options on or off.
Trading strategy of EA Black Dragon
According to the developer, the robot trades using a custom black dragon indicator that identifies trends on the market and provides built-in levels for stop loss and profit. From the trading history on MQL 5 records, we can observe grid and martingale strategies with an average trade duration of 1 day. There is no stop loss or take profit attached with any position, and the trades are only closed when they are in profit.
Backtesting results are available for EURUSD for a total duration of 10 years. The developer presents backtesting results by showing multiple images. There is no detailed statement present which is a big turn-off.
For the period, the robot had a maximum drawdown of 77.23% and turned an initial deposit of $1000 into $117055.94. It had a winning rate of 68.21% with a profit factor of 1.55. The average amount of profitable trades was $151.26, while the average amount of losing deals was -$210.07. There were a total of 3209 trades executed during this period.
Trading results in real time
Verified trading records are available on MQL 5. From January 10, 2022, till the current date, the system made an average monthly gain of 4.71%%, with a 21.4% drawdown. This shows us that the algorithm has a poor risk-reward ratio while trading.
The winning rate stood at 74.1%, with a profit factor of 1.78. The best trade was $45.36, while the worst was -$18.25 in a total of 27 trades. The developer made $1000 in deposits on a live account.
EA Black Dragon price
The author sells the algorithm for $30 for a single account. There is no money-back guarantee, and there are no renting options at hand.
Traders can contact the developer through the MQL 5 marketplace. They do not state the available hours or provide an email address for customer support.
Are traders happy with EA Black Dragon?
The robot has a total rating of 4.91 based on 115 reviews on the MQL 5 marketplace. One trader says that the robot can cause a good drawdown on the account. It works only for a short duration, and then the grid and martingale strategies wipe up the portfolio.
EA Black DragonEA Black Dragon
Trading Strategy2/5 Bad
Live Results2/5 Bad
Customer Support3/5 Neutral
User Reviews2/5 Bad
- Live records are available
- Small information on the strategy
- Lack of vendor transparency
- Uses grid and martingale