Tiburon EA works on EURUSD at the H1 timeframe and uses multiple indicators for trading. The robot requires a minimum of $3000 in trading capital to work properly. We will discuss all the system’s potential plus and negative points in our review and see if we can be profitable with it.
Detailed forex robot review
The robot is available at the MQL 5 marketplace, where all the information is detailed under a single webpage. The developer summarizes all the settings of the robot and details the features and the working conditions.
Elizaveta Erokhina is the author of the product who resides in Russia. She has a total rating of 4.4 for 11 reviews. The developer has six products published on the MQL 5 marketplace and has 62 subscribers for his services. She has no market experience, according to the information on the website. This raises concerns about the system and the developing experience of the provider.
The robot has the following set of features:
- It provides backtesting and live results.
- Uses dynamic take profit features.
- The system is user friendly and can work with any broker.
- There is an option to use auto lots that will determine the position size automatically.
How does it work?
The robot works by following the steps mentioned below:
- Login to the MQL 5 community on the MT 4 or 5 platform
- Purchase the system and refresh the experts’ tab
- Attach the EA to the H1 chart on EURUSD.
Tiburon EA strategy tests
The developer states that the robot works on EURUSD at the H1 timeframe. It uses several trading indicators, including RSI, Stochastic, and one customized by Elizaveta herself. The expert advisor uses overbought and oversold levels and filters out the signals using the stochastic and custom indicators to trade currencies. From the history, at MQL 5 marketplace, we can see that it uses grid and martingale strategies to trade the markets.
Backtesting results are available for EURUSD, where the relative drawdown was around 34.83%. The test was done on the 60 minutes chart with a starting balance of $1000. The robot tanked an average profit of $41175.74 during this period. The winning rate was 74.34%, with a profit factor of about 3.94. There were 10908 trades in total, and the best trade was $126.76, while the worst one was -$49.34.
Live trading results
System’s trading results are tracked via MQL5, which shows performance from August 15, 2021, till the current date. Since then, the robot has had an average monthly gain of 6.63%, with a drawdown of 7.5%. The drawdown value is average which gives us a risk-reward of 1:1. The winning rate stood at 71.02%, with a profit factor of 3.86. The best trade was $54.8, while the worst was -$9.42 in a total of 107 trades.
The robot can be bought for a one-time price of $400. Traders can also rent it for 1 and 3 months at $200 and $250.
There is no money-back guarantee according to the rules of the MQL 5 marketplace.
There is a single customer review available at the MQL 5 marketplace. The reviewer says that the robot is working ok during news hours. He seems to have tested the system for a short duration.
Due to the implementation of grid and martingale strategies, we can not say that the Tiburon EA is safe to use. It can result in a high drawdown while trading.