Starting from watching a review of Dark Venus MT4 on youtube, a free trading robot that reportedly gives good results. Curious about this Expert Advisor, it’s quite interesting to explore further how this free robot works.
Is it true that this is a profitable robot in the long term, or is it just good for the short term?. As note if one advantage of trading using robots is that there is no emotional intervention. Because it is automated trading software. Not human.
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What is Dark Venus MT4?
Dark Venus, reading from the description, is a scalping robot, which includes a high operating frequency, allowing the robot to work in the short term at high speed.
This robot works based on the Bollinger band indicator. According to its creator, this robot can work with high accuracy, which in the backtest has 99.90% accuracy.
The basic strategy is to use a counter-trend, but the user can change the settings to work as a trend following strategy.
Since this is a scalping robot, broker support is very important so that the robot can work properly. The creator himself suggests using the IC market. But the important thing is that the broker has a fast market order. Because a trading robot will work well if the connection is stable and fast.
Pair trading recommendation
Basically, Dark Venus MT4 can work in all pairs with the right settings, but the author recommends EURUSD, GBPUSD, AUDUSD, and USDCAD pairs.
Meanwhile, the recommended timeframe is M5 or M15, which are suitable timeframes for scalping. However, users can try using other timeframes with proper settings.
How to finding Dak Venus ea
Dark Venus MT4 is available for free on the MQL5 market. The first time I watched a video reviewing this robot, I immediately went to MQL5.com and clicked the “Market” menu in the top bar of the page.
After that in the search bar, there are options for Metatrader 4 and Metatrader 5. Because I am using Metatrader 4 I chose that option in the search.
I didn’t type any keywords in the search box, just click the search mark in the search market box. It will bring up options in 4 tabs, “Popular”, “New”, “Free”,”Paid”.
Then click the “Free” tab, a large selection of free robots will appear for Metatrader 4.
You will find many free robots on that page. You can choose which one you think is the best free forex robot to try. Of the many free forex robots, I found Dark Venus which got many reviews from community members.
From 407 community member reviews, Dark Venus gets a rating of 4.64 stars. This means that many traders provide positive feedback on this robot.
Author Dark Venus is a trader with more than 4 years of experience from Italy whose name is Marco Solito. From his profile, he has made 28 products on MQL5 Market. Has 6 signals and 45 subscribers.
Marco Solito is an mql4 and mql5 programmer with more than 10 years of experience, and who founded the site Darktrading.biz.
Of the entire product list, many software is free, but some are offered at the highest price of only $99 for the Dark titan MT5 robot. Other products sell in the $30-$50 price range.
Just to note that Dark Venus is also available for the MT5 platform. You cannot use MT4 robots for MT5. It requires the step of converting files.
Dark venus ea free download
This Dark Venus trading robot was created free of charge, but we have not found an answer to whether this robot has an expired date or a lifetime license.
In some cases, the free robot has an expiration date, so when the validity period has expired, the robot cannot be used anymore. The only way to be able to use the robot again is to contact the author
How to Install Dark Venus ea
Before installing the Dark Venus free forex robot, the first thing you need to prepare is that your computer has the Metatrader 4 trading platform installed.
If you are an experienced trader, of course, you have already used Metatrader 4 on your computer. But if you haven’t installed Metatrader 4, you have to install it first.
Run your Metatrader 4, then go to the free Dark Venus page. If you are not yet a member of MQL5.com, then you must register first. If not then it cannot continue to the next step.
Click download in the left-hand bar, below the Dark Venus image. It will bring up options.
An option appears asking whether you have installed Metatrader 4 or not. Because you have already installed then click “Yes I have Metatrader 4, open Metatrader 4”.
After you click Yes I have Metatrader 4 installed, your browser will ask for permission to open your application. Click Open URL: MQL4 Buy protocol.
After you click Open URL: MQL4 Buy protocol, it will allow the browser to open the MetaTrader 4 application. If you are not logged in to MQL5 Community, you must first log in to your Metatrader 4 platform.
If you are already logged in, the application will redirect you to the Market tab of the Terminal window, to the Dark Venus download.
Then click the download button next to Balance 0.00 USD, in the right corner of your platform terminal. It will automatically install Dark Venus on your platform. And you may receive an inbox mail, that you have successfully installed the software.
Dark venus ea settings
Basically, traders can use standard settings to start using the EA. But if you want to modify the EA property settings, it allows you to find the best settings so that they are profitable.
For detailed parameters and explanations, you can read the author’s website, Dark Venus.
But if you want to try using the Author’s set of files, you’ll find this Dark Venus user manual. In the zip file, there are several files, shared by the group which contain a set of files from several other traders. Then two sets of setting files from the author and user manual.
How to use set file
Set files are settings that have been saved in a set file format that can be recalled on those settings. This is useful to avoid confusion when a trader wants to use the previous settings.
It is important if you want to change the EA settings to save the settings. So that if later will reuse just call to reload.
How to save a set of files is to click the Save button on the inputs tab in the robot’s properties.
If you want to use a set of files, the first step is to extract the set of files you want to use in the folder you specify. Next you run your MetaTrader 4, then click File–>> Open data folder–>> MQL4–>> presets. Copy the set of files that you extracted earlier to the presets folder.
How to call a set of files you simply click the Load button on the inputs tab of your robot’s properties and select the appropriate set of files.
Backtest
Backtest is testing the EA using a strategy tester, traders do this for initial screening to find out how the robot works. To use this strategy tester the trader can call it with the CTRL+R keys, or click the symbol in the menu on the top bar of Metatrader 4.
In this backtest, we chose the GBPUSD pair with the default settings. Using the M15 timeframe and the time period from January 1, 2021 – October 13, 2021. Start initial deposit $300.
Using the every tick model, taking the duration from January to October, it turns out that the final result of the Dark Venus backtest in the GBPUSD pair failed and finally a margin call with a drawdown of 109%
From the results of the backtest at the beginning, the robot’s performance was quite stable, but then the robot opened a position with a high lot, causing a sharp decrease in the margin level until finally a margin call.
In conclusion, from the backtest results, the robot should also need to be monitored so that if it opens a position size that is too high, it can cut loss as soon as possible.
Another way is to try changing the money management settings of the ea.
Dark Venus youtube
The video was uploaded on January 5, 2021, and has been watched more than 170 thousand times with 38 thousand likes.After all, the forex market is very dynamic, although this free ea is quite good and stable, manual monitoring is still needed to protect the account if ea opens too high a position size.
Although during forwarding test giving a good result. It doesn’t guarantee it will give the same result in the future.
Final Thought
Even though Dark Venus MT4 is a free forex robot if the user can always monitor the performance of the robot. Since try to forward test in the demo, this work use multiplier. In each step order increase lot size. It is means robot work martingale-based trading. Although this makes it possible as one of the promising free robots.
However since this requires a full 24 hours to work, traders need a VPS, which has low latency. Besides, the author recommends using an ECN broker, because it will make all transactions executed perfectly.
Note: This review is for informational purposes only and does not constitute investment advice, forex, CFDs, Crypto is a risky business, each investor bears their own risk.
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