Dark Gold is a Forex expert advisor for MT4 and MT5. It was launched only recently, which makes it all the more necessary to analyze its live performance before investing in it. This is a highly customizable scalping bot that you can use for trading in multiple pairs.
Detailed Forex robot review
From the presentation on the MQL product page, we cannot get a clear idea about the system and how it works. After describing the strategy briefly, the vendor has provided us with a list of recommendations and parameters. There are several screenshots that show some live trades placed by this robot.
We don’t have enough information on Marco Solito, the developer of Dark Gold. He is based in Italy and is the director of Dark Trading Biz, a website where he sells all his products. His MQL5 profile tells us that he has experience of 4 years, however, there is no background information to be found. Other robots from this vendor include Dark Venus, Dark Rea, Dark Titan, Dark Dione, Dark Moon, Dark Mimas, and Dark Titan.
This scalping bot trades in pairs like GBP/USD, EUR/USD, and Gold. It is based on the Dark Support Resistance indicator built by the same developer. Depending on the settings, you can choose different timeframes like M5, M15, and H1. The vendor recommends signing up with an ECN broker and using a low latency VPS while trading with this robot.
Dark Gold has a money management feature where you can set the risk percentage for each trade. Alternatively, you can set a fixed lot size if the money management option is disabled. It is also possible to enable the dark support resistance indicator and modify its period and timeframe. The EA has a time filter that you can enable to prevent it from trading during certain hours.
Dark Gold strategy tests
There are two strategies for the Dark Support Resistance indicator. The first one is a trend following strategy where the EA opens a buy order if the price breaks through a point of resistance. If instead, it breaks through a point of support, a sell order is opened.
The second strategy is counter-trend, which is opposite to the first one. Here, the EA opens a sell order when the price breaks through a resistance and a buy order when it breaks through a support. In case you choose to disable the indicator, you need to enter the price of support and resistance manually. The robot also gives you the option to use a grid and martingale.
For some reason, the vendor has not shared the backtesting data for this EA. Without analyzing the historical results, it is impossible to determine whether the system can deal with different market scenarios. Since the live trading history is too short, the vendor should have shared the historical test results.
Real account trading results
Unfortunately, we don’t have the verified trading results for Dark Gold. The vendor has shared the trading statistics on MQL5, but they are not monitored by an independent body. This trading account has been active for only 66 days, which makes it difficult to accurately gauge its profitability.
After conducting 1598 trades, the win rate for this account is now 66.95%. The EA has generated a total profit of $1856.12. This account has a maximum drawdown of 63.6%, which we think is too high. Surely, the robot uses a high-risk strategy that could lead to heavy losses. The profit factor for this account is 2.05.
Dark Gold is available for the price of $49. Nevertheless, we don’t think you should waste a single penny on a system that is not supported by verified statistics. Additionally, the vendor does not offer a money-back guarantee.
We couldn’t find any user reviews for this EA on trusted third-party websites. Thus, we can say that Dark Gold does not have a stellar reputation at the moment. Although there are a few reviews on MQL5, we cannot analyze them in our review, since the vendor could have paid for them.
Dark Gold is not a robot that can generate consistent profits in the Forex market. Without verified trading statistics, there is no way we can consider this a profitable system. Moreover, the vendor has no reputation and refuses to offer the protection of a money-back guarantee.