Belkaglazer EA Review

By Investdale March 22, 2022

Belglazer EA is a Forex expert advisor that lets you build different types of trading strategies. It is based on logical models and uses filters to improve the trading performance. The developer behind this system is Dmitriy Shal, who is based in Russia. He is a full-time trader who started his trading journey in 2006. Apart from this robot, he has another product known as BelkaMiner.

Before investing in an EA, you need to make sure it delivers decent performance. This is why we are conducting this review to analyze various aspects of the system like trading results, features, trading strategy, pricing, etc. The MT4 version of the EA was released on April 6, 2017, while the MT5 version was released on November 23, 2019.

What is behind the Belkaglazer EA?

There are four models for this EA, namely PRNG, PricAction, Pivot, and PriceChannel. It supports limit, stop, and market orders. Filters are used for improving the performance of a strategy and the quality of trades. It increases the profit factor while reducing the number of trades.

Belkaglazer EA uses filters like trend filters, time filters, volatility filters, CBOE VIX filters, as well as Range/Hurst/RSI. It generates long and short trading signals with the help of a trading algorithm that combines models and filters. The signals get executed as limit/stop/market orders. You can set a delay in execution if you wish.

For operating open positions, the EA uses tools like trailing-stop, stop-loss, and take profit. It is compatible with different types of Money Management like Optimal F, Maximum risk per trade, Margin percentage, Proportional lots, and Fixed lots.

Key features

This EA trades in pairs like AUD/CAD, AUD/NZD, EUR/USD, and USD/JPY. For the backtest, it used the M30 timeframe, and the live trading account uses 1:50 leverage. The vendor recommends using a VPS and a 5-digit broker offering low spread that closes bars at 17:00 New York time. With such a broker, you can get five 24-hour day candles every week.

Trading strategy

This robot follows three main strategies, namely Breakout, Momentum, and Mean Reversion. The first one looks for strong price movements and is ideal for a volatile market. Momentum strategy involves buying or selling a pair after a strong price movement. For the Mean Reversion strategy, the robot enters the market in the opposite direction with a pending order when the price nears a support/resistance level.

Backtesting results of EUR/USD on MQL5

For this backtest, the EA conducted 490 trades between 2003 and 2019. It won 61.43% of them, generating a total profit of $6081.01. The win rate was quite decent and so was the profit factor of 1.90. There were 10 maximum consecutive wins and 5 maximum consecutive losses for this test.

Pricing

The current price of this EA is $19,999. This makes it extremely expensive compared to other EAs. Although there is a free demo version, the vendor does not offer a money-back guarantee.

Trading performance of Belkaglazer EA

Growth chart of Belkaglazer EA on Myfxbook

Since November 3, 2016, the EA has conducted 1160 trades through this account. It currently has a win rate of 62%, which is similar to what we saw in the backtest. The daily and monthly gains are quite decent at 0.04% and 1.09%, respectively. However, looking at the high drawdown of 34.38%, we can tell that the EA is following a risky strategy.

Trading results of Belkaglazer EA on Myfxbook

From recent trading history, we can see that the EA is prone to suffering consecutive losses. For the last few trades, it has used a lot size of 0.05-0.12. The average win and loss for this account are 15.37 pips/$16.38 and -21.28 pips/-$25.49, respectively, while the average holding time is 8 hours and 17 minutes.