Blazing Night Scalper is a Forex expert advisor available for sale on the MQL5 marketplace. It is a night scalping robot that was launched on 1st October 2021. Since it is a relatively new system, we need to be extra thorough while analyzing its performance factors.
Detailed Forex robot review
The presentation on the MQL5 product page is not very impressive. We have the links for the live signal, the Telegram group, the backtesting report, and a video that explains how to load the EA on a chart. Instead of explaining the features in detail, the vendor has talked about the backtest and the scalping system used by this EA.
We know little or nothing about Scott Fredeman, the developer of this system. According to his MQL5 profile, he is an American trader with 4 years of experience. He also has an official website where he sells his products, but unfortunately, there is no official contact information. Apart from Blazing Night Scalper, the developer has built systems like Midnight Blitz, EA Monster Multiple Strategies, Aggressive Grid Sniper, and Magdalena. The lack of vendor transparency is not a sign of a trustworthy robot.
This EA works exclusively on the M5 timeframe. The vendor recommends signing up with brokers like Oanda, Pepperstone, Vantage, and ICMarkets. There is no need to use any settings files for Blazing Night Scalper. You just need to load the EA on an M5 chart and set the USE MULTI SYMBOL setting to True. Also, you need to change the SL Ded Rate Pips from 0 to 1.
You can use the system to trade in 10 different currency pairs, namely AUDCAD, CHFJPY, EURAUD, EURCAD, EURUSD, GBPAUD, GBPUSD, USDCHF, USDCAD, and USDJPY. According to the vendor, it is possible to change the symbols and accommodate up to 20 pairs. With every trade, the robot uses stop losses and take profits without relying on grid or martingale. It has a stop loss reduction system that acts as a risk-management measure. However, the vendor has not explained this feature in detail.
Blazing Night Scalper strategy tests
This is a scalping system that works with low spreads. During the night hours, it searches for the lowest spread, locating entry points based on recent peaks and troughs. It uses its own trading logic instead of using indicators. Now, the vendor has not explained what this trading logic exactly is. Scalping is a high-frequency strategy that involves placing a large number of trades on a daily basis. It can be quite stressful for someone who doesn’t have the time to monitor their screens throughout the day.
This backtest was conducted from 2009 to 2021 using AutoLots. The EA placed a total of 21025 trades during the testing period. It had a win rate of 90.4% and in terms of pips, its total profit was 34798.1. The daily and monthly average profits for this backtest were $8433.86 and $243038.56. For this backtest, the profit factor was 1.47 and the drawdown was 26.79%.
Live account trading results
We don’t have the verified trading results of Blazing Night Scalper. This makes it harder to trust this system since the vendor has the chance to cherry-pick trades to make the robot appear more profitable than it really is.
Here we have a trading account on MQL5 that has been active for merely 21 days. Since the trading history is too short, we cannot objectively assess the EA’s profitability using the results. After conducting 109 trades the account’s win rate is currently 90.82%. It has a maximum drawdown of 7.7% and a profit factor of 1.60.
Currently, you can purchase this EA at the price of $199, which is pretty close to the market average. The vendor offers a free demo version that allows you to test the system’s performance using virtual money. Unfortunately, there is no refund policy.
At this moment, there are reviews for this EA on trusted third-party websites. Thus, it is clear that most traders are not aware of its existence. There are a few reviews on MQL5, but we cannot consider them authentic.
Blazing Night Scalper is not a reliable expert advisor and you should avoid it at all costs. We know very little about the vendor and there are no verified trading results. Another reason not to trust this system is the lack of a refund policy.
Leave a Reply