Redshift is a 100% automated Forex EA that promises a high winning rate for Intraday Trading. It was launched on 31st December 2020 by Marco Solito, a trader from Italy who has developed systems like Dark Moon, Dark Venus, Blueshift, and Dark Absolute Trend. We don’t have any further information about the developer and we have no way to verify if the above information is true.
Redshift doesn’t have an official website and all the information available on it can be gathered from the MQL5 page. Here, the vendor has outlined the principal features of the Forex EA and has provided the link to a Telegram channel, where trading performance and other details about the robot are shared.
In terms of vendor transparency and the overall presentation, this Forex EA ends up disappointing us. But, there needs to be a thorough assessment of all its other aspects before we can reach a final conclusion regarding its reliability.
Features
Using Redshift, you can trade in currency pairs like USD/JPY, AUD/USD, USD/CAD, GBP/USD, and EUR/USD. It is a system that uses a strategy based on the MACD indicator, which allows it to achieve high winning rates for its trades. The trading scheme involves trend following and market order in counter-trend.
If you write a feedback after purchasing this Forex EA, the vendor will provide you with a second EA, completely free of charge. To us, this seems like a desperate attempt to get users to write positive reviews about the system. The lack of in-depth information about the trading strategy is also quite disappointing.
How to Start Trading With Redshift
Redshift is priced at $399, but you can also rent it for one month at $348. There is also a free demo version of the software available, so you can test its performance before using it for live trading. No refund policy is mentioned, which is not the sign of a reliable and trustworthy Forex robot.
Redshift trades in the M15 timeframe and works best with an ECN broker. The vendor recommends using a VPS with low latency and leverage of 1:10. It is advised that you start trading with a balance of $100. You can run this Forex EA on both the MT4 and MT5 trading platforms.
With Redshift, you have the option of modifying trading parameters like trading days, trading hour, trading directions, indicator settings, money management settings, etc. You can contact the vendor directly if you need assistance.
Backtests
Here we have the backtest result for Redshift conducted over the period of May 2003 to December 2020 on the USD/JPY pair. The initial deposit used for this backtest was $100 and the total net profit was $2598335.20. This test was conducted with a modeling quality of 99.90%.
During this backtest, Redshift won 93.94% of short trades and 94.48% of long trades, with the combined win percentage being 94.23%. It had 113 maximum consecutive wins, but only 3 consecutive losses. The relative drawdown was quite low at 4.86%, while the profit factor was pretty high at 14.32. Overall, the backtest results look like they belong to a reliable system.
Verified Trading Results of Redshift
Although the vendor hasn’t provided any verified live trading results on the MQL5 page, we were able to find an account on Redshift where this Forex EA has traded in the EUR/USD pair. We can see that it is a new account opened on December 22nd, 2020 and that only 29 trades have been placed through it.
It is quite remarkable that Redshift has won all 29 of these trades, therefore having a perfect win record. The average win for this account is 14.60 pips/$28.40, while the daily and monthly gains are 2.85% and 134.14%. As of now, things look quite promising for this trading account, but since the sample size is so small, we need to observe it for a few more months in order to gauge its profitability.
Customer Reviews
There are no customer reviews available for Redshift on third-party websites like FPA and Trustpilot. Since it has only been launched quite recently, it hasn’t managed to earn a reputation for itself yet.
Is Redshift a Viable Option?
Advantages
- Backtesting data is available
- Trades in five different pairs
- Comes at a discounted price
Disadvantages
- Has a short live trading history
- Lack of vendor transparency
- No customer reviews
Summary
Redshift doesn’t look like a system that can be blindly trusted because we simply don’t have information about the vendor or the trading strategy. While it does not seem like a scam service, it hasn’t been trading live for too long and we think we need to keep an eye on it for the time being. The system certainly does show some promise and we hope to see more of it in the future.
