Zenith is a new Expert Advisor published on March 29, 2021, and was last updated on July 13, 2021. The current version is 5.0. According to the developer, the robot uses a neural network for trading. This means that the EA is required to take some time to learn from history and undergo tests outside this learning period. The robot has been created with a large code and therefore, it is a manual learning EA. In this review we will analyze the different aspects of the system to gauge its performance.
Detailed Forex Robot Review
The vendor provides a brief presentation of Zenith on the MQL5 website. Here, she states what the EA does, input parameters it contains, the trading strategy it uses, its features, and trading results.
The developer responsible for creating this robot is known as Olena Skrynnik. Her profile indicates that she is based in the US. She has also built other robots including Humblebee, TradeFields, and Pepper among others. However, we could not find any additional information about her.
The EA has the following features:
- Trades on USDCHF, EURUSD, USDCAD, AUDUSD, and GBPUSD currency pairs
- Runs on the MT5 platform
- It does not apply the scalping strategy
- Its trading frequency is low
- The recommended time frame is H1
Zenith Strategy Tests
Zenith’s trading strategy is based on the artificial bee colony (ABC) algorithm. According to the vendor, this approach imitates the foraging behavior exhibited by honey bees. A bee colony has 3 kinds of bees performing different roles. Similarly, the EA’s algorithm conducts different activities which include interpreting the graph to point out problems, training the network on the received data, and identifying patterns, breaking them down, and categorizing them. We are unsatisfied with this strategy description. It is too general and leaves us with more questions than answers.
A screenshot of the EA’s backtest results is provided below:
The backtest report above indicates that the EA made a total net profit of $59, 671.10. The profit factor was 5.24. The account carried out 2101 trade deals. The win-rates for longs and shorts were 72.17% and 69.75% respectively. These results are average and hence disappointing. The average profit trade was $49.47 whereas the average loss trade was -$23.09. The maximal drawdown was 0.77%.
We noted that certain data is missing. The account does not indicate the period of operation, currency pair used, or the amount that was initially deposited into it.
Live Account Trading Results
The vendor has provided live trading results attained by her Zenith signals. Unfortunately, these results are unreliable as third-party sites like Myfxbook, FXStat, or FXBlue have not verified them. Nonetheless, we will assess what we have.
The account particularly began operating on March 3, 2021. An initial deposit of $5,000 was put into it, and a profit of $2,216.94 was generated. So, the account grew by 44.34% increasing the balance to $7,216.94.
The account has traded for 56 days and makes 23 deals weekly. The average trade length is 1 day. The profit trades and loss trades currently stand at 81.3% and 18.8% respectively. The maximum drawdown which is 9.7% is significantly higher than the one indicated in the backtest report.
The number of trades that the EA has executed is 208. The account has attained win-rates of 54.33% for long trading positions and 45.67% for short ones. These figures are mediocre. They demonstrate the account’s low profitability rate. The profit factor is 3.15.
The drawdowns are quite low.
The vendor has only provided trading results from the EURUSD currency pair. The results show that the system has made 208 deals and attained a gross profit of $2200 with this pair.
The cost of the EA was previously higher, but after incorporating a 50% discount, the price was reduced to $99. A refund offer is not provided. Even though the EA is quite cheap, it is not worth the trader’s money. As we have seen above, the live trading results are unverified and it would be risky to invest in this EA.
We were able to find several mixed customer reviews for the EA on the MQL5 website. One of the customers who expressed their concerns about this robot stated that it is a scam as he lost his money. Another one stated that the functionality of the system has some flaws.
There are zero reviews for this robot on popular third-party sites like Myfxbook, Quora, Trustpilot, and Forex Peace Army.
Traders should steer clear of this EA. We cannot place much weight on the trading results since they are unverified. So, using this system in the live market would be risky.
The vendor has not provided us with significant details about her credentials, and therefore, we cannot trust her. The customer feedback indicates that a trader can lose significant amounts of money invested if they are not cautious.