Night Vision EA is said to utilize several unique algorithms that have been successfully tested on real trading accounts. The vendor also asserts that the robot can be used on most available currency pairs and is featured by a small number of settings and easy installation. Even then, we believe traders would want to know if the EA performs well. We assess the system to establish if it is a viable option.
Night Vision EA was authored by a Russian named Alexander Kalinkin. He has developed another Forex product-Luck Price Action. Unfortunately, there is no information about his trading experience. So, we don’t know how long he has been trading in the market or whether his trading efforts have been successful or not.
Features
The EA has the following characteristics:
- Supports 16 different currency pairs.
- For best results, it is recommended to utilize ECN accounts with low spread and commission.
- Applies Stop Loss and Take Profit on every trade.
- Does not use toxic trading methods like arbitrage, grid, and martingale.
- Runs on the MT4 or MT5 terminal.
- The recommended broker is IC Markets.
The robot applies night scalping trading. This means that it mainly focuses on opening and closing trades at night with the aim of attaining winnings from small price changes. The developer also states that the EA trades during the closing of the American trading session.
How to start trading with Night Vision EA
Night Vision is an expert advisor. In essence, it is programmed to enter and exit trades by replacing the need for a human trader. The trades the software will make are determined by the algorithms set by the developer. Therefore, if you want it to trade on your behalf, you can purchase, download, and install it. Once activated, you can watch as it works for you.
Night Vision EA’s is very expensive. The vendor is asking you to pay $489 to get the lifetime license. The renting option is cheaper, though. You just have to pay $80 to rent and use the system for a month.
Backtests
Alexander does not supply us with the standard backtest statement report. Instead, he posts a screenshot showing the testing process. The image includes some information. For instance, we can see that the testing began in April 2016 and ended in October 2020. A total net profit of $1854.05 was realized from 4608 trades conducted. The resulting profit factor was 2.89, while the drawdown rate was 54.13%. This drawdown value was massive and demonstrates the risky nature of the approach used.
Verified trading results of Night Vision EA
We have an account that was launched on November 22, 2020, and to date, it has achieved a gain of 76.5%. The robot makes daily and monthly profits at rates of 0.17% and 5.18%, respectively. The drawdown is 21.81%. It should be noted that the risk/reward ratio (4:1) is poor. This means that the system takes numerous risks and receives lesser rewards in return. We find it suspicious that some of the data is locked. So, we don’t know what amount was deposited, the profit made, and the current balance.
The system has conducted 542 trades with 1347.1 pips. The average loss (-12.11 pips) is significantly higher than the average win (8.38 pips). This means that the robot makes more losses than wins. We are not impressed by the win rates because they are mediocre. Only 68% of short trades and 73% of the long trades were won. The system has a low profitability rate as illustrated by a profit factor of 1.38.
The EA made small gains. This is expected since it is a scalper. We also can see a few cases where the system made huge losses (-$19.6, -$60.1). Sadly, these losses eroded the profits.
February was the most profitable month with 17.46% gains. The last three months have recorded very small profit rates.
Customer reviews
Night Vision EA doesn’t have many reviews on MQL5. Since it was published on the platform on January 31, 2021, it has only received 3 testimonials. These traders are saying that the EA has a good performance. Unfortunately, there is no way of verifying the authenticity of the feedback. For all we know, they could have been manufactured by the developer to suit his interests.
Is Night Vision EA a viable option?
Advantages
- Live trading results are provided
Disadvantages
- Pricey
- Poor risk/reward ratio
- Low rate of profitability
- Vendor transparency is not adequate
Wrapping up
Night Vision EA is not a viable option. The system is costly and does not provide value for money since it has a low return rate. Even worse, the small gains are at constant risk of being eaten away by losses, which can be huge at times. Furthermore, the vendor may not have the skills needed to trade Forex successfully.
