NightVision EA Review – A Detailed Look at This Automated Trading Robot

NightVision EA is an automated trading robot (Expert Advisor) designed for the MetaTrader 4 and 5 platforms. It specializes in a night scalping strategy during the closing hours of the US trading session.

NightVision EA

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Overview of NightVision EA

According to the developer, NightVision EA utilizes a number of unique proprietary trading techniques that have been tested on real accounts. The EA aims to provide a safe and reliable automated trading solution without relying on risky methods like martingale or grid strategies.

Some of the key features highlighted by the developer include:

  • Works on 15 currency pairs including GBPUSD, EURUSD, AUDUSD etc.
  • Comes with stop loss and take profit levels for risk management
  • Trades during high liquidity hours when volatility tends to be lower
  • Suitable for ECN accounts with tight spreads and low commissions
  • Easy to install and use for beginners

In this detailed review, we will analyze multiple aspects of this Expert Advisor to determine if it is worth the $550 price tag.

How Does NightVision EA Work?

NightVision EA is designed for night scalping, which means it aims to profit from small price movements during late trading hours. More specifically, this EA enters trades during the closing hours of the US session when liquidity starts drying up.

As per the developer, the EA incorporates unique trading techniques that take advantage of price inefficiencies during this low volatility period. The exact entry and exit methods are proprietary, but from the limited information available, it seems NightVision uses a combination of indicators and price action analysis for trade signals.

Once in a trade, the EA uses protective stop losses along with take profit levels to lock in gains. This ensures a high probability trading approach without relying on risky methods. As such, NightVision avoids using grids, martingales, or arbitrage strategies.

The EA is also equipped to trade multiple currency pairs as highlighted earlier. This allows better diversification and flexibility compared to single pair EAs.

Overall, NightVision aims to capitalize on late session price movements using disciplined risk management. This differentiates it from other scalpers focused on volatile periods.

Performance Metrics & Backtest Results

Unfortunately, the developer has not provided any backtests for NightVision EA. There are also no third-party verified performance statistics available.

The only metrics we have are from the live signal listed on MQL5 for this EA. As per the signal tracking page, NightVision has produced a profit of around 358% since November 2020. However, the drawdown has also been quite steep at 62%.

While the returns from this live account look impressive, it is risky to rely solely on such short-term results. Without long-term backtests, it is difficult to gauge the expectancy and consistency of this trading system.

As a general rule of thumb, an EA with no historical testing data raises reliability concerns. The lack of transparency around key metrics like win rate, risk-reward ratio, max drawdown etc. makes it harder to evaluate NightVision objectively.

So in terms of quantifiable performance, there is not much data right now to analyze this EA in depth. More transparency from the vendor would have helped in assessing expected results with greater confidence.

Supported Currency Pairs and Timeframes

According to the product listing, NightVision EA can trade the following currency pairs:

  • GBPUSD
  • GBPCAD
  • USDCAD
  • GBPAUD
  • EURAUD
  • EURCAD
  • EURGBP
  • GBPCHF
  • EURUSD
  • USDCHF
  • NZDUSD
  • EURNZD
  • USDJPY
  • EURCHF
  • AUDJPY
  • AUDNZD

This selection covers all the major currency pairs along with some exotics and crosses. So traders get good flexibility in terms of assets.

However, since this is a night scalping EA, the supported timeframe is limited to M15. The vendor recommends using ECN accounts with tight spreads for best results.

The limited timeframe selection should not be a major hindrance though, since the core strategy relies on late US session volatility. Still, traders who prefer higher or lower timeframes cannot use NightVision easily.

Cost, Money Management and Other Features

NightVision EA is priced at $550 for a single license. This is quite expensive since there are other scalpers available for under $100 with more features. When you account for the lack of backtests too, the high price is difficult to justify.

In terms of functionality, the EA offers standard inputs for lot size management based on balance percentage or fixed lots. You can also configure GMT offset, magic number, and enable trades on Fridays easily.

Considering the premium pricing, more advanced features for risk management would have been useful. But the money management provided is adequate for most traders.

Other notable aspects of NightVision EA include:

No DLL Required

The EA does not use any external DLLs, so you don’t have to worry about installing additional files.

Works on MT4 and MT5

You can use NightVision on both MetaTrader platforms which adds convenience.

Low Configuration Needs

The EA only has a handful of key settings, so it is beginner-friendly in terms of usage.

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Developer Reputation and Reliability Concerns

NightVision EA is sold by Alexander Kalinkin on the MetaQuotes Marketplace. Alexander seems to be a relatively unknown developer with average reviews for his other EAs.

While the lack of reputation is not a deal breaker, the absence of any verification for NightVision is concerning. The high price point combined with no backtests raises reliability questions as well.

The EA may very well be profitable, but priced at $550, traders expect more transparency and assurances. So from a trust perspective, NightVision EA leaves a lot to be desired.

If the vendor provided more concrete details about the working logic, some audited backtest reports, and a reasonable trial period, it would inspire more confidence among buyers. But currently, it is difficult to recommend this EA wholeheartedly to any trader.

Pros and Cons of NightVision EA

Pros

  • Trades multiple currency pairs
  • Uses stop loss for risk management
  • Designed for a specific trading session
  • Low configuration and easy installation
  • Works on both MT4 and MT5 platforms

Cons

  • No backtest reports provided
  • Very expensive for the features offered
  • Lack of transparency around metrics
  • Developer does not have much reputation
  • Limited to only M15 timeframe

Conclusion – Should You Buy NightVision EA?

NightVision EA shows some potential as an automated trading solution focused on a specific strategy. It offers the ability to trade multiple currency pairs using an unconventional night scalping approach.

However, the lack of track record and absence of backtest data makes it an unreliable system for live trading at the current price point. When you account for the steep $550 price tag, the EA does not offer enough features or transparency.

As such, our recommendation would be to avoid buying NightVision EA right now despite some of its merits. Unless the vendor releases more concrete details about the profitability and workings of this system, it is better to explore other alternatives in the market. There are scalpers and night trading EAs available at a fraction of the cost that offer more reliability and assurance.

So while NightVision surely has some positives, its opaque metrics and lack of audited testing make it tough to suggest for most traders. Perhaps with more transparency and a trial option in the future, this EA could provide better value to buyers. But currently, traders are better off allocating their capital to more credible automated solutions.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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