The Most Wanted EA on MQL5 Tested | 100% Honest Review

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Learn about the benefits of automated trading. After programming trading strategies for a while I started teaching how to program expert advisors for the MT4 (MetaTrader 4) and MT5 (MetaTrader 5). Until now I only did videos in German but now I will start this channel with English videos to reach a larger audience of traders and help them improve their trading. There will be no fake trading on this channel and no lies. I show trading as it is - the good and the bad sides. Stay tuned and subscribe because you don't want to miss ;)
Instagram: rene_balke
Trading in derivative products such as futures, options, CFDs, Forex and certificates involves a considerable risk. These products are not suitable for every investor. Investors could potentially lose all or more of the original investment. If anything, only money that equals personal risk capital and can be lost without jeopardizing financial security or lifestyle should be used. Partially or fully automated trading programs can only be used to support the trader. Past performance is not an indication of future results.

[@tradermodeste2796]

I would pay some more attention to drawdown. One of your tests showed a balance drawdown of 55%. That means at a certain point in time your equity was more than half down. The psychological charge of such a drawdown is enormous. Most owners would kill the robot well before arriving at this level. It is no surprise that this ea arrives at such drawdowns, the sl distance is huge compared to the tp distance. If you want this robot to manage 100.000$, you better have 10 times this amount available for the rough periods 😅

Yeah true! Drawdowns are really important. Thanks for the comment!

[@dunknow9486]

Sound like EuroMaster strategy?? SL pips is 10x the TP. So....now we know this is AI

[@SINISTER-Creations]

At 55% DD most brokers will alredy have margin called you.

[@darktrader.x01]

MQL5 vs Python? 🐍 Which one is „better“? Are u profitabel in trading? Danke 🙏

i like mql5 more but also do not have a lot of experience with python. so far i am profitable but time will tell :D

[@darktrader.x01]

Thank you! I am thinking about learning MQL5 but I have not a lot free time and for this reason I am considering what it would be better for me: MQL5 start learning or Deutsch weiterlernen (ich bin ein Spanier in Deutschland 🇩🇪🙌🤗) Gracias 🙏

[@heslopalex]

Useful review thank you. I see the seller has now changed the images used to show higher DD than what you have in your video. Have you any comments on this?

[@cucinscukurs8374]

5 stars and that's it! It's been a long time since I've seen anything like this in MQL.

[@YourManifoldWorld]

Honestly, I wouldn't touch this EA with a 20 ft. pole. So for 2020 to 2023 it made 664 trades with ZERO losses? Like not one? That is literally impossible, why is he not selling this EA to Goldman Sachs or Deutchbank? They would give him 100 million for it easily. Initial deposit: $1000 Final account: $20 million. LOL, you gotta be kidding me. Why does he even need to sell this EA???? and for so cheap?

[@dzmitrymaximov8725]

Чтобы вы американцы это дерьмо покупали.Вы же нихрена не понимаете,что нейросеть работает только на истории,а в реальности НЕТ.такие роботы выходят в топ из за вашей тупости

[@iindgothetrader]

Not one loss usually means the position is probably being held until it comes into profit again and probably heading while that happens , so your most likely in drawdown for long periods of time but then again maybe not lol

[@dudeinadodge3727]

Hi Rene, i am looking to get an EA from MQL5, which one do you suggest as the best one for gold?

[@DMNKDSR]

Hey Rene :) Do want to make another review of the "Tactical Pip Hunter"? No grid, no martingale, always a stop loss and not over optimized. A project of mine of the last months.

[@motivartetheshow4521]

Hi! Do you test this not in real account ? I hope you response and what you think about buy this program.

[@jorgecamara1030]

thanks for this great video Rene ..

[@leighaskin1653]

Can you tell me if you have actually found a profitable bot from mql5 marketplace? Or even indicators that help you with entries and exits?

[@GreenRiver7]

Hi René! I really like ur channel and ur reviews of the EAs. It's possible that u can make a review on the Gainer EA, I have tested it and the results seem very nice I'm thinking of buying it but I need a more professional opinion.

Maybe in the future :) I will definitely do more EA reviews

[@zaldi19]

You were right once again, the last time I watched your EA review video was about HAlgo EA, I checked it, now it has 1.9 Rating

Yeah it was not able to reproduce the testing results in the live account unfortunately..

[@edinilson5971]

I have this EA, I installed it but it doesn't open orders, could someone help me?

[@Macintosch1000]

Considering that I am new to algo trading, which EA would you recommend..?? thank you!!

Hey, I would recommend to learn more about it before you buy any EA. All EAs have their pros and cons and there is not one "best" EA.

[@Macintosch1000]

@ thanks for your answere, for some time i do trading. but it is possible to make some money with this ea on mql5?

[@cryptoplatformadvisor8629]

Which one AE you use Rene ?

[@addICTed_to_USD]

I saw this EA 4 days ago and i'm attempting to recreate The Most Wanted EA 😂 the EA uses a 5 period cci, 50 period cci and a 30 period ATR on the 15 minute chart, a 10 ema and a 20 ema on the 1 hour chart, a 40 period ema on the 4 hour chart and another cci indicator with a period of 20, PERIOD_CURRENT.. I'm trying to figure out the algorithm hopefully i can crack this EA and make it my own without needing to purchase it :)

[@riisingphoenix9390]

Hey if you want, we can work together in trying to figure this out because I want to do the same! But I am unsure because it says that it acutally uses AI to see patterns in the market and I dont know about you but sadly I dont know how to implement something like this! :D or do you think this is just marketing and the EA is not using AI?

[@EEMBMinecraft2442]

Lol i was actually just about to figure out what it is using. Thanks 👍

[@EEMBMinecraft2442]

It seems like it's using balance for automated lot sizing.

[@TheMrSomecheesyname]

The indicators aren't really important with AI, the process of machine learning from inputs such as these are complex and hard to translate for humans to understand. The main thing in this advisor your would be building would not be the indicators, it would be coding the learning aspect, and you can use whichever indicators you'd like

[@addICTed_to_USD]

@@EEMBMinecraft2442 yes it increases its volume size as the balance amount increases as well

[@DeanDogDXB]

Hi Rene… was wondering if you’ve had another look at this ir if you perhaps left it running on an account? Looks too good to be true but wondering if anyone has actually used it on real account and can share their results?

[@ThreshAuditore]

Im New, did you have any rocomendend bot for 2023 and did you haave any video how to install it and usted in meta 5?

[@Macintosch1000]

I'm missing too, if anyone has any to recommend

[@zenkentrading]

Should I be hunting highest profit factor

[@thealphaphoenixacademy]

Hey I have created a mt5 trading robot but i have some few features that i would like to add but dont know how can you please help me with the code?

[@markonis100]

Hi Rene. I have own EA running on the VPS for some months now, on two demo acc (ICmarkets & tickmill). The results are fairly good i would say. But i confused, that the real life test on the demo acc is better than on backtest (every tick based on real tick). Not just better, but far better than the backtest. How come? I thought the real life test would be worse than the backtest by some amount. I did the backtest on the same demo acc that i used on the VPS. Now i have a doubt on the backtest data itself. what mode should i use and which result should i believe. Thanks for the answer

[@markonis100]

to be clear, the result on the backtest was slight loss with zig-zag-y equity curve. Meanwhile, the real life test consistently produced some good profits, month after month. The equity curve is good. All the test i mentioned before was done on the same time period. Further test i did showed that the mode which produce closest results with real test was "every tick" mode. Not "every tick based on real tick". Even "m1 ohlc" mode gives me fairly similar equity curve to the real results. What I missed?

[@donyxd3365]

@@markonis100 mind sharing the EA?

[@Forify.Global]

i can guarantee that live results will also look different its because demo and live has different market conditions and order execution

The "every tick based on real ticks" method of the tester is not perfect. So far I did not find the perfect testing method yes. The results are always different in the live account. I just compare it from time to time to see how big the differences are.

[@markonis100]

@@Forify.Global yes. I expected that. But now i can't trust the "every tick based on real tick" backtest results either. Now, i am tend to trust "every tick" mode results.

[@jacksonvonblau7311]

Great review thank you Rene..

[@dunknow9486]

Is it the Most Wanted now?

[@edward3080]

Hi Rene, can you also test DIVO EA ? Thanks

[@edison_kyama]

I have a question for you @ReneBalke about this issue of 'history reading'. If I had a strategy optimised for history data of a certain asset for the last 10 years and worked exemplarily well, would it still be bad because it is history reading? I thought the forex market is about repeating patterns... Isn't backtesting based on history data? Help me understand this history reading thing please

[@jguerbar]

Given enough parameters an algo would overfit any given data period and appear to have a good performance on that period, but that doesn't mean that those patterns are general and that they would continue in the future. That's why you could only evaluate the performance of a strategy that has been optimized in any way or form seeing its performance on data that it has not been used to be optimized with.

[@dunknow9486]

Is it still wanted?

[@adisaja4526]

Isn't that the bactest result on Gold?

[@yalfalasi]

Hi Rene ... I was asking you to test it last week... thanks for doing so... you have to look at recovery factor which is between 50-100 in my tests !!! Insane!!!! The max I got in my career was like 10-13 and during short periods

[@yalfalasi]

There was a comment at mql5 that ex4 file size is so small.. how can ai nonsense and multi indicators squeeze in few kilobytes!

[@FighterFred]

CCI and ATR are not AI but simple indicators. And ChatGBT is rubbish as to trading. To get good backtests, the EA must read off new optimizations every day. But then the predictive power is zero. A revealing test is to use all assets in the Market Watch in the backtester, if the logic is good other assets will be profitable.

[@ahsamv1992]

no cci atr are features and other assets follow different dynamics

[@BritVR]

So I came across this EA 2 days ago and was trying to get reviews on this. People in the comments don't want to touch this ea. With the forward signal from the bot on mql5 from January, this bot has not lost a trade yet. It is currently in a 10% drawdown too. So we will see.

[@famanas]

now?

[@zaldi19]

The Sellers just not aware of the danger of model overfitting in the world of quant trading.

[@thealphaphoenixacademy]

Hey @rene went to the market and saw that gold is recommended not EURUS.

[@kqu1844]

Hi Rene, do you think you could make a video on protecting your own EA if you have written it? Like how to create your own licence from others from stealing on vps or marketplace etc... thanks

The mql5 market does the licensing. It is the easiest way to protect your EA :)

[@macilysis]

how was your trip to Thailand?

Great :) Loved it but now I am back in cold cold Germany :D

[@Kigalipodcast01]

Share with me the bot link to download

[@ForextraderEAnow]

It is history reader in my opinion. If you try to test it like on previous week it will not work.

[@ugwuvalentine2089]

Hey, it works i have tested it live and backtested it and got the same result

[@renesha03]

Hi Rene, Great content as usual. I recently created an EA and made it available on Mql5, would you be willing to review it?

[@kimjw001]

What's your EA called?

[@riisingphoenix9390]

The story that he linked was written by an AI ( I checked it with OpenAI's tester). But anyway. René, do you think this EA really uses AI and if so, do you have any idea on how he achieved this and if this could be done by us too? Because I have used the OpenAI API for a very basic python programm that scrapes a website and summarizes the content with a prompt. But I cannot Imagine how he would use the API to make this EA learn trading or I dont know... If you don't know what I mean, I can answer you in German as well :D

Really? :D I think it is hard to figure out what an EA really does without seeing the code. But a lot of marketers use "AI" as a term to boost the sales. And it is working just fine ;)

[@riisingphoenix9390]

@ Yeah! the AI detector works good with longer texts and this text had the highest possible stage: it said that the text is likely to be from an AI. But I now think that maybe the EA just knows when the price is gonna fall or rise, as you said. Probably its just marketing and the EA only performs so well i backtests because he knows the history and it only wins live currently because the SL is so much further away than the TP. Do you think the same?

[@rishipatel32]

Now you can stop blowing accounts with your own EA and just use this one

Yeah :D I would be glad to do so but I will wait some more month first because a lot of the mql5 EAs do not really keep their promises ;)

[@fartywood3917]

i cant find it on the market now 🤣🤣🤣

[@losangeles1973]

Backtest is fitted and not real.

Yeah looks like this. We have to monitor the live signal on mql5 to find out.

[@losangeles1973]

@ I have no idea why 152 people already purchased this and spend 1500USD for an EA with fitted backtest and no track record.

[@theBoy_69_]

@@losangeles1973 you have no proof if that. I have it since one week and it won 5/5 trades.

[@losangeles1973]

@@theBoy_69_ Well, don't get me wrong, I wish that it is real and you make a lot of money. Normally, those EAs with no record and fake backtests will make some money at the start and after a few months it will sink and you will lose all your money. Don't be surprised when the author takes out the EA completely of the market in 6months. He will rebrand it, and put on the market with a different label. Just be careful. I have seen this many many times.

[@voss3495]

@@theBoy_69_ is fake give me your telegram

[@eugengfu4242]

In what warm country are you on holiday? :))

I am in Thailand right now. But leaving in the afternoon :/

[@seomanam7062]

Everyone here has already tested the best forex expert advisor? The result seems promising but who knows.

[@vicsportfish]

can you or could you review forex flex EA please ☺

[@isaacreain]

At 14:37 you made a mistake you said you can not predict the future in trading...This is 100% not true;) Though it is true that virtually no one can do it, so your statement is almost true! :D

[@biberhund]

THX m8

[@andreaszervakhs5899]

Please make a review of ea Fringe AI and Galaxy 5

I will make more reviews in the future :)

[@techierepublique9301]

Today [Dec-2023] I cant find this EA in the market .... so yeah ... explains some.

Sometimes EAs disappear from the market.. Maybe the author decided to keep the holy grail for himself 🤡😅 *irony off*

[@beehive_shop]

@ Sure, most of the time, when EA disappear from Market, the reason is a Margin Call

[@cryptozcloud]

Hmm it seems that coding ur EA is best the Ea's being sold are kind of scammy

At least you know what you have if you code the EA on your own :)

[@cryptozcloud]

@ True that

[@Kane-ib5sn]

Rene should speak plainly: the seller is making BS claims...

[@reapercuss]

Yes, it is a new EA and everything is risky. However, seeing the backtests and the telegram group for the people who have it, it has worked great so far. The price also keeps increasing, meaning eventually not many people will have this and it might actually be a gold mine. I feel the risk of buying this is worth the reward of what it could potentially do. By the time great results happen, the EA could be off the market, or still be on but cost 3x what it does now. Idk, if you have 2k to blow and want to think of it as an investment, then go for it. The author has consistently been increasing the price of it and has been very nice when messaging about questions. Worth the risk IMO

[@opelcorsa9398]

How much real profit factor ???

[@sajjad19311]

SL= 10 Tp= 1 SL is 10 times more than TP Risk=10 Riward=1. !!!!!!!!! Are you crazy?! It is scam 100% !

[@Viral-fun-videos-l3e]

If the author says that the results don't depend on the Time Frame, run away, it is a history reader!!

[@edison_kyama]

What is backtesting? Isn't it 'reading the history' of a certain pair or asset. Don't market patterns repeat? Help me understand what this history reading means if you don't mind. According to me, if a strategy can work well using a pair's data of the last 10 years, it should be fine. However, it seems that, that's the history reading or maybe I don't get the difference

[@Viral-fun-videos-l3e]

History reader means reading the results in advance and 'deleting bad results and using good results only for the backtesting'.

[@edison_kyama]

@@Viral-fun-videos-l3e Oh. I see.🤔

[@edison_kyama]

@@Viral-fun-videos-l3e considering I am making my own EA, I now see how that is possible. Whenever I get candlestick data of a certain period, It comes as a 2D tuple with the details of each candlestick including the opening time in seconds. So, I can code it such that it avoids certain candlesticks hence able to avoid some trades

[@TheWickoff]

I have this EA if anyone is interested

[@opelcorsa9398]

Is the ea really so good ???because i am interested

[@SebNod]

signal ko, ea is ko, bye bye TMWEA

[@Kariboo925]

Says it is using quantum computing ....... lol

Yeah a lot of the things said on the mql5 pages are for marketing purposes I think..

[@megakilllll]

This is history manipulation for sure. U can build ea that know about history and give u fake results on backtests.

[@mjunaid5460]

I think it's yours

The EA? Nope it is not ;)

[@BlackOpzFX]

Its A HISTORY READER - A Backtest Review A Couple Weeks Ago Had 100% WIN RATE - The Copy You Edited Has A Few Errors Thrown In But Not Enough. Its An Obvious FAKE

Oh thanks for sharing this. I will monitor the EAs live signal on mql5 for a while to see how it goes in the live account.

[@dragisacorovic6620]

This is so stupid EA

[@harmansairani5430]

First comment 😂

[@mbrowne8166]

Please did code ma crossover mq5

I did ;) Check out my channel videos or search for it in the youtube search bar. kzbin.info/www/bejne/imibgmqBaMhkZ9U&ab_channel=Ren%C3%A9Balke

[@vitaliys56]

No more a Signal for this EA. Coincidence? :)