Red Hawk Review

Red Hawk is a robot that was released half a year ago on October 12, 2020, by Wim Schrynemakers on the MQL5 community. The current version is 1.9. The last time the robot was updated on January 12, 2021.

Detailed Forex Robot Review

There are quite many strategies, settings, and features explanations:

• The robot works automatically for us.
• There’s an MT5 version available as well.
• Red Hawk is a “mean reversion” trading system that trades during the quiet times of the market.
• The robot trades EUR/USD, GBP/USD, USD/CHF, EUR/CHF, EUR/GBP, AUD/CAD, AUD/JPY, EUR/AUD, and USD/CAD.
• It works perfectly on the M5 time frame.
• ECN accounts are a must.
• The suggested brokers are IC Markets and Alpari.
• The system requires a VPS service to be profitable.
• It performs with low drawdowns.
• It sets Take Profit and Stop Loss levels for each trade.
• This EA doesn’t run risky trading strategies like Grid or Martingale.
• There are spreads and slippage filters.
• We have to pay attention to the GMT offset.
• We can run with fixed or automatically calculated Lot Sizes. By default, it’s 0.01.
• We should have $250 for trading with a 0.01 Lot Size.
• We can set desirable risk per trade.

Red Hawk Strategy Tests

We can see a screenshot of the testing strategy on the StrategyQuant X platform. It was a backtest with medium risk for eight pairs. It united tick data from 2012 to 2020 years. The Profit Factor was 2.42. The accuracy rate was 77.95%. The maximum drawdown was 11.17%. The absolute gain has amounted to 221,118.66%. There were 4200 won trades and 1188 lost trades. The average win was 89,6% when an average loss was -130.63%. 

Real Account Trading Results

We have a demo account on Alpari. The leverage is 1:500. The robot performs 100% algo trading. The win-rate is 70.7%. The maximum deposit load is 7.1%. The maximum drawdown is 5.8%. The account was deployed on July 24, 2020, and deposited at $5000. Since then, the profit has become $1132.58. The total growth is 22.65%. The MQL5 site marked these signals as high-reliable. 

The system makes little profits every month. It performs fifteen trades weekly. An average trade length is two hours.

The drawdowns are low.

The robot has closed 352 deals with 70.73% of the win-rate. The Profit Factor is 1.44. An average winning trade is $14.94 when an average loss trade is -$25.11. The maximum win-streak is 14 deals – $210.35.

The most-traded symbol is EUR/USD – 118 deals, but the most profitable is AUD/CAD – $523.

Pricing

We’re informed that it’s the last copy of the product for $299. Next price will be 349$ for a digital copy.

There are also rent options: three-month and annual subscriptions. The three-month rent costs $149. The annual subscription costs $199. It allows saving 67%. We can download a demo copy of the EA for free to check it on the terminal. 

Customer Reviews

There are nine testimonials. All of them are positive. The robot is so young so there are no testimonials on other sites.