Dark Venus EA is a Forex trading robot that uses a combination of technical indicators and price action analysis to make trading decisions. The algorithm is designed to analyze market trends and identify profitable trading opportunities automatically, without the need for human intervention. The Dark Venus EA is currently free and can be downloaded from the MQL marketplace. In this article, I will be taking a look at how the Dark Venus EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.
Using the Dark Venus EA
The Dark Venus EA is designed to work on various currency pairs, although EURUSD, GBPUSD, AUDUSD and USDCAD seem to stand out. The built-in algorithm will constantly analyse the pairs on which chart the EA is applied, searching the charts for buy and sell signals. When the Dark Venus expert advisor finds an opportunity, it can place and manage trades on behalf of the user.
The Dark Venus EA is built to run on the MetaTrader 4 trading platform and can be used on any currency pair. Dark Venus is a completely automated Scalping Expert Advisor. This Expert Advisor requires care and has a high operating frequency. Dark Venus is built on Bollinger Bands, and these trades can be managed using various strategies.
The Dark Venus EA also incorporates price action analysis, which involves studying candlestick patterns and chart formations to identify key levels of support and resistance. This helps the algorithm to identify optimal entry and exit points for trades.
The Dark Venus EA is fully customizable and includes a number of adjustable parameters, including lot size, stop loss and take profit levels, and trading hours. The algorithm is designed to be user-friendly and can be used by traders of all experience levels.
Recommendations by the Developer for Using the Dark Venus EA
- The Recommended Timeframe is determined by your settings, but you can use M5, M15, and any other timeframe with the proper parameters.
- With the proper settings, the Expert can go on EURUSD, GBPUSD, AUDUSD and USDCAD, but also on others.
- It is always preferred to use an ECN broker.
- A low latency virtual private server is always suggested.
- The suggested leverage and deposit are determined by the settings.
Features of Dark Venus EA
- Price Action Analysis: The Dark Venus EA incorporates price action analysis, which involves studying candlestick patterns and chart formations to identify key levels of support and resistance. This helps the algorithm to identify optimal entry and exit points for trades.
- Customizable Parameters: The Dark Venus EA is fully customizable and includes a range of adjustable parameters, including lot size, stop loss and take profit levels, and trading hours. This allows traders to customize the robot to suit their individual trading styles and risk preferences.
- User-Friendly Interface: The Dark Venus EA is designed to be user-friendly, even for traders with little to no experience in Forex trading. The interface is easy to navigate, and the algorithm can be set up and running in just a few minutes.
- Money Management: The Dark Venus EA incorporates advanced money management techniques to help traders manage their risk and maximize their profits. This includes dynamic lot sizing and stop loss and take profit levels.
- 24/7 Trading: The Dark Venus EA can run 24 hours a day, 5 days a week, allowing traders to take advantage of trading opportunities around the clock.
Dark Venus EA Settings
- Magic number: Enter any unique number to easily identify Dark Venus trades in your history.
- Max Spread: The largest spread that can be traded.
- Lots: The number of lots available if the money management option is turned off.
- Money Management: If true, the money management choice is enabled.
- Risk Percent: If the money management option is set, the risk percentage is displayed.
- Enable Bollinger Bands: If enabled, the Bollinger Bands indicator will be used for entering signals.
- Bollinger Bands Trading Strategies: Choose your plan.
- The Signal Moment: Determine whether the signal will be executed on the current bar or the prior bar’s close.
- Bollinger Bands Period: The Bollinger bands indicator’s period.
- Bollinger Bands Deviations: Bollinger band standard deviation.
- Bollinger Bands Price: Bollinger Bands price.
- Bollinger Bands Timeframe: Bollinger Bands timeframe.
- Activate Time Filter: If true, the time filter is enabled.
- Trading Start Minute: Operating start minutes.
- Trading Start Hour: Operating start hour.
- Trading Stop Hours: End of operating hours.
- Trading Stop Minutes: Operational end-of-day minutes.
- Out of hours: At the conclusion of the timetable, close all orders.
- Monday: if true, trading is permitted on this day.
- Tuesday: If true, trading is permitted on this day.
- Wednesday: If true, trading is permitted on this day.
- Thursday: if true, trading is permitted on this day.
- Friday: if true, trading is permitted on this day.
Dark Venus EA Summary
Overall, the Dark Venus EA is a beneficial trading tool that offers a range of features designed to help traders analyze market trends and identify profitable trading opportunities. However, as with all trading strategies, there is no guarantee of success and traders may want to exercise caution and use appropriate risk management strategies.
The Dark Venus EA is fully customizable and includes a number of adjustable parameters, including lot size, stop loss and take profit levels, and trading hours. The algorithm is designed to be user-friendly and can be used by traders of all experience levels.
It is important to note that past performance does not guarantee good results moving forward. Therefore, I would only test the Dark Venus EA on a demo account to begin with. This would allow me to get a feel for how it works and see if it fits within my own trading style. The Dark Venus EA is also free as at the time of writing this article in contrast to some other forex robots which I have previously reviewed.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
