Diamond AI is a new generation EA that does not utilize toxic methods like Martingale. As per the developer, a team of experts with 10 years of combined coding and reading experience has created this MT4/5 tool. It uses advanced machine learning algorithms that help detect market changes adeptly. It works on multiple currency pairs using the H1 timeframe.
Detailed Forex robot review
Marcin Zygala is the developer of this FX EA. He is from Poland and as per the MQL5 profile, he has no experience and has 2 products and one signal to his credit. To contact the developer, you have to use the private messaging option on the MQL5 site. There are no other support methods available.
We could not find much info on the FX robot as the developer fails to reveal details like the features, recommendations, and more. From the very little info available, here are the features of this system:
- The FX EA uses machine learning algorithms for predicting market movements.
- Backtesting with maximum accuracy helps prove the past successful performance of the EA.
- It works on the EURUSD pair mainly and also on EURCAD, USDCAD, AUDUSD, USDCHF, and EURGBP.
- A timeframe of H1 is recommended by the author.
- The EA can work on a demo or a live account.
- Adequate SL and TP levels are used to cover the positions for each trade.
The developer provides a list of settings for the ATS that include info on the trade direction, spread, open positions, slippage, the closing of orders, and more.
Diamond AI strategy tests
Other than the mention of using machine learning algorithms and using SL and TP levels, the developer does not reveal the approach used. However, a backtesting report is present on the MQL5 site. The report shown has a modeling quality of 90% and it used the leverage of 1:100. For an initial deposit of 1000, the total net profit was 452655.43. A total of 4053 trades were completed for the test done from 2010 up to 2021. Profitability was 76.81% and the profit factor was 2.22. The drawdown was 17.65%. From the stats, it is clear that the drawdown is low but the profits are not very high. As seen from the growth chart the initial profits were very negligible for the account with the higher returns coming during a short span indicating a high risk.
Real live account trading results
A live signal using the RoboForex broker and the leverage of 1:1000 is present on the MQL5 site. The signal started on 29th November 2021, with a deposit of $22080 revealing a profit of 0$0.89. From the 0% growth, it is clear that the approach is risky and performance is poor. As per the trading stats, the maximum drawdown is 0.4% and profitability is 65%. The profit factor is 1.01. When compared to the backtesting results, we find the performance is poor in real trading. Further, the sample size is very small for the results to be of impact.
You can buy this FX EA for $299. As per the developer, this price is a discounted rate offered on account of Christmas and will change after the holiday season. A rental option is present that costs $49 per month. There are no further details on the package like the features included and the presence of a refund offer. The lack of a money-back assurance makes us suspect the reliability of the system.
We found 11 reviews for this FX EA on the MQL5 site. Here are the recent user testimonials for this FX robot:
From the above feedback, we can see the support and the performance of the MT5 tool are bad. One of the users mentions that the strategy is not proper.
Diamond AI claims to provide high returns with its AI-based trading software. Our assessment of the expert advisor reveals that while the vendor provides backtesting results and a live signal, the results are poor.
Zero growth of the account and poor profits indicate a risky and ineffective approach. Further, the developer does not provide much info on the features, working method, and other aspects of this trading tool. Other downsides in this system include negative user reviews, inadequate support methods, and the expensive price.