EA Black Dragon Review

EA Black Dragon

EA Black Dragon is a Forex expert advisor that works on the basis of the Black Dragon indicator. It has an optional hedging mechanism as well as risk management functionalities. You can run it on both Metatrader 4 and Metatrader 5 trading platforms. 

There is no official website for this Forex robot. It is sold on the MQL5 website, where the vendor has made a very brief presentation. We have a short introduction followed by a list of EA inputs. There are some screenshots showing the backtesting results and the link to a live monitoring account. 

Ramil Minniakhmetov, the developer behind EA Black Dragon, is a resident of Russia. We don’t have enough information on this person or the people he works with. According to his MQL5 profile, he has experience of more than eight years. Other EAs built by this developer include Hamster Scalping, Asia Trend EA, Element Gold, EA Element Premium, and Legend Wall Street. 

EA Black Dragon at a glance 

Price $30
Trading Platforms MT4, MT5
Currency Pairs USD/CAD, AUD/USD, EUR/USD
StrategyTrend following
Timeframe N/A
Recommended Deposit N/A
Recommended Leverage 1:500
Money Management Yes

EA Black Dragon functionality

EA Black Dragon initiates a deal based on indicator color. You can increase the network of orders or work with stop loss. There are various EA inputs you can modify to make the system more compatible with your trading style. You can enable or disable buy and sell orders and also force the robot to open a new series of orders.

By enabling the “manage manual orders” parameters, you can make the system automatically manage manual orders. You can also set the start hour, end hour, timeframe, as well as the maximum number of buy and sell orders. EA Black Dragon can trade with an auto lot where you have to mention the amount of deposit on which the starting lot is to be used. You can also enable the lot multiplier for subsequent orders and specify the maximum lot size. 

EA Black Dragon trading strategy tests 

Black Dragon indicator, on which the EA is based, is a trend detection indicator. It shows the dynamic levels of support and resistance. You can use them for profit taking, and for setting up stop losses. 

Backtesting results of EA Black Dragon
Backtesting results of EA Black Dragon

This backtest was conducted on the GBP/USD pair from January 2010 to December 2020 using an every tick model. There were 5105 trades placed during the testing period, out of which 74.63% were profitable. Similar to the win rate, the profit factor was also quite high at 2.35. However, the relative drawdown was 85.14%, and such a high drawdown indicates a risky trading strategy. There were 19 maximum consecutive wins and 5 maximum consecutive losses during the testing period. 

EA Black Dragon live trading results 

Growth chart of EA Black Dragon
Growth chart of EA Black Dragon

Unfortunately, there are no verified trading accounts for this expert advisor on trusted third-party websites like Myfxbook, FXBlue, and FXStat. The vendor has shared a live monitoring account on MQL5 that was launched on the 10th of January, 2022. To date, only five trades have been placed through this account, all of which have been profitable.

The maximum drawdown for this account is 5% and the total profit generated is $4.23. Due to the very short trading history, it is difficult to draw a comparison between the live trading and backtesting results.

Customer reviews 

User reviews for EA Black Dragon on MQL5
User reviews for EA Black Dragon on MQL5

There are no reviews for this EA on third-party websites. We have no way to prove the authenticity of the reviews written by users on MQL5. 

EA Black Dragon Review Summary

EA Black Dragon Review Summary
2 5 0 1
EA Black Dragon has no long-term record of winning profits in the live market. The live monitoring account on MQL5 has a very short trading history. We have very little information on the developer and there is no money-back guarantee.
EA Black Dragon has no long-term record of winning profits in the live market. The live monitoring account on MQL5 has a very short trading history. We have very little information on the developer and there is no money-back guarantee.
2/5
Total Score
  • Functionality
    3/5 Neutral
    This EA has several input values that you can change to make it work according to your trading style.
  • Trading Strategy
    2/5 Bad
    The vendor has not provided enough details about the trend following the strategy used by this EA.
  • Live Results
    2/5 Bad
    There are no verified trading results, and the live account on MQL5 has seen only three trading days.
  • Customer Support
    2/5 Bad
    The vendor has not shared the email address but you can get in touch with them via Telegram.
  • User Reviews
    1/5 Awfully
    We don’t have any authentic user reviews for this expert advisor.

The Good

  • Available at a cheap price

The Bad

  • No verified trading results
  • Lack of vendor transparency
  • No refund
Total
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