Luna EA is a night scalper that trades on various currency pairs from a single chart. The robot uses a news filter to avoid any volatile event and does not use risky trading techniques such as martingale, grid, etc. According to the developer, traders should only backtest this EA on the MT 5 platform. Our review will analyze the technical aspects and performance of the system to know if it’s a suitable investment for you.
How Luna Robot works
Luna EA comes with the following features:
- The robot is a 100% automated trading system.
- It can trade on multiple currency pairs simultaneously.
- The algorithm can place executions from one single chart.
- The bot doesn’t use any risky strategies like the grid, martingale, etc.
- It’s easy to set up and install.
Luna EA can be used by following the mentioned steps:
- Purchase the expert advisor from the MQL5 platform
- Download the robot files on your computer
- Open Metatrader 4 or Metatrader 5 on your PC
- Drag the downloaded EA files into the charts section
- Enable auto-trading
The developer states that the robot scalps on multiple currency pairs during the nighttime. There is no implementation of averaging or martingale. From the MQL 5 history, we observe that it uses limit orders to enter the market. Most of the executions are deleted before being carried out on the account. There is a 40-50 pip stop loss with each trade.
Unfortunately, the developer fails to provide authentic backtesting records but attaches a few pictures of an unknown test. The lack of authentic backtesting records raises concerns over the expert advisor’s credibility.
Backtesting stats are available on 14 symbols in an unknown timeframe from 2020 to 2022. The duration of two years of historical data is not enough to analyze the proper historical performance.
The records are based on 3407206 modeled ticks with a 99.99% modeling quality. The system made 7298 trades, of which 6784 were winners and 514 were lost. The total profit of the expert advisor stands at $132964.19, with average loss trade of -$124.93 and a win at $29.07.The value of relative drawdown was 70.78%, which shows that the system traded with high risk. The gross loss is -$64214.32, with a profit factor of 3.07.
Luna trading results
The expert advisor does have MQL5 live records, but they are not verified by any third-party website such as Myfxbook, Fxblue, etc.
The records on MQL5 of the robot show that the developer deposited an initial $100. The algorithm placed its first execution on 05.05.2022 and has been live till the current day. The EA participated in 123 trades with a winning percentage of 85.36% and a loss of 14.63% with a profit factor of 1.7.
The bot stands at monthly growth of 14% with a recovery factor of 1.33. The average holding time of an order is three hours. The account’s equity stands at $114.28, with a profit of $14.28.
The drawdown of the Luna robot stands at 9.2%, which is pretty average, but the short duration of live records is not enough to evaluate the nature of its performance.
Pricing & refund
The robot is available for sale on the MQL5 platform with a price tag of $349 for a lifetime license. Several renting plans are available, such as a monthly subscription for $129, a six-month renting plan for $249, and a yearly package for $249. There is a free demo account to evaluate the robot before investing real money.
The algorithm is a bit expensive when we contrast it with other systems in the market. The vendors are also not clear about the moneyback guarantee and post-purchase features.
What else you should know
The product is unknown among the traders as there are no customer reviews on the reputed third-party websites such as Trustpilot, Forex Peace Army, Quora, etc. However, there are six user reviews present on the MQL5 platform, but their legitimacy can be questioned as these testimonies can be manipulated.
One of the traders on the MQL5 platform praised the product and its performance results by stating that EA is a genuine product.