EA Vega Review

Feb 5, 2021 12:12 PM ET
EA Vega Review

EA Vega

Type

Expert Advisor

Price

Free

Strategy

Break-out

Compatible Platforms

MT4

Currency Pairs

EUR/USD, GBP/USD, USD/JPY, and others

Timeframe

M30

Recommended Min. Deposit

n/a

Recommended Deposit

n/a

Leverage

n/a

Trade length

17 hours

EA Vega Characteristics

There’s EA Vega on the MQL5 forum. It was designed several weeks ago, on January 14, 2021. The last version (1.1) was released a week ago - on January 25, 2021. For more details, comments about settings and strategy, please, read our EA Vega review.

Trading Strategy Explanation

Let’s talk about features and the strategy behind the system.

  • The robot performs a break-out strategy.

  • It uses an Ichimoku Kinko Hyo indicator for spotting a future price momentum and determines areas between support and resistance levels.

  • The robot opens and closes trades based on the candlestick bar ranges and top and bottom prices.

  • The robot works fully automatically.

  • We can trade on all available pairs.

  • The break-out pairs are EUR/USD, GBP/USD, and USD/JPY, as usual.

  • The main time frame to work with is M30.

  • The system uses hard Stop Loss levels.

  • The risk we may want to work with is 5% of the account balance.

  • It was tested with 25% risk with 80% DDs.

  • It works well with fixed Lot Size too.

  • The settings files are provided only for mentioned pairs.

  • The system doesn’t perform dangerous strategies like Hedge, Grid, and Martingale.

  • The robot fits FIFO requirements. So, it can be used on US brokers.

  • The EA marks its deals using the unique magic number.

  • The maximum Lot Size is set at 100.

  • EA Vage may not trade on a daily basis.

  • There’s an upcoming MT5 version of the product.

Backtest Data Analysis

EA Vega Backtest Data Analysis

EA Vega Backtest Data Analysis

We’ve got a backtest of GBP/USD on the M30 time frame. It was based on the 10-year tick data with a 10% risk. The modeling quality was high - 99.90%. The initial deposit was set at $1000. The total net profit has amounted to $213k. The Profit Factor was 1.56. The maximum drawdown was 20.3%. The win-rate was mediocre - 57%.

Live Trading Data Analysis

Trading Results

Trading Account

Real (USD), Hugo’s Way

Started

January 15, 2021

Deposit

$99.53

Balance

$90.83

Gain

-4.65%

Daily

n/a

Monthly

-4.65%

Drawdown

10.20%

Profitability

0.56

 

EA Vega Live Trading Data Analysis

The developer provides signals from these three accounts.

EA Vega Live Trading Data Analysis

The robot runs an account that was created on January 15, 2021, on Hugo’s Way broker. From the chart, we know that the EA doesn’t use indicators performing Algo Trading (100%). The initial deposit was $99.53. The absolute gain has become -4.65%. The robot has been working on the real account for three weeks.

EA Vega Live Trading Data Analysis

The gain chart doesn’t look trustworthy.

EA Vega Live Trading Data Analysis

Trading results look bad and are low-frequently traded.

EA Vega Live Trading Data Analysis

The robot performed seven trades. The win-rate is only 42.85 (3/7 deals). The best trade is $3.56, when the worst one is -$8.11. There’s a low maximum deposit load - 7.71%. An average trade frequency is four trades weekly. An average trade length is over seventeen hours. The profit factor is less than 1 - 0.56. An average profitable trade is $1.97 while an average loss trade is -$2.64.

EA Vega drawdowns

The drawdowns are acceptable.

The company

EA Vega - about company

The vendor has a profile with a 1401 rate with three signals and three products on the board. There are only 26 friends. So, he’s an all-new EA’s designer.

EA Vega customer reviews

There’s just a single positive review.

EA Vega customer reviews

In the comments section, we can find setting files.

EA Vega screenshots with positive trading activities

EA Vega screenshots with positive trading activities

There are some screenshots with positive trading activities.

Pricing

EA Vega download free

The robot is download free. Now, everyone can try it on the demo account.

 

Review Summary

Pros

Cons

  • Strategy is well-explained
  • This EA is an all-new one
  • Setting files provided
  • The robot shows horrible results
  • Backtests provided
  • It’s risky to use free software in the real account
  • Real-account trading results provided
  • The developer doesn’t have huge experience in the robot designing
  • It’s download-free software
 

Conclusion

The EA Vega robot is just several weeks old system that is based on a breakout trading strategy. It performs common breakout symbols  EUR/USD, GBP/USD, and USD/JPY on the M30 time frame. Trading results showed that the EA is far from being a stable, profitable, and reliable trading solution. So, it’s time to relax and watch its trading results for half a year or so. If you want, go ahead and give it a try - use it on the demo account first.

Rating: 3/10


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