Medusa X was published on MQL5 several months ago, on December 28, 2020. Its developer is Oon Kar Lee. The robot was downloaded 580 times to check settings on the terminal and perform backtests. The current version is 2.0 from February 19, 2021.
Medusa X Features
The presentation includes settings, explanations, and other useful information:
- The system can execute orders fully automatically on the terminal.
- The information about increasing pricing after 10 copies are sold was removed.
- The system can be stable only trading with several currency pairs worked at the same time.
- It was tested on the real tick data received from brokers.
- We should have $500 or more on the account balance.
- The leverage should be set at 1:500 or higher.
- We can expect that an average profit will be five pips.
- There are three brokers mentioned: IC Market, FXTM, and ForexChief.
- We have to use the robot on a VPS service.
- There’s no big deal to set the system on the terminal.
The lifetime license costs $399 for a single copy. We can use subscription options. The one-month subscription costs $120 when three-month costs $250 (save 31%). We can download the system for free to check it on the terminal. MQL5 doesn’t support any kind of money-back guarantee. So, the deal is final.
How it works
It executes orders fully automatically on two charts.
- The main strategy is based on Cost Averaging.
- It doesn’t use Martingale to trade with increased Lot Sizes to recover after loss streaks.
- There are GBP/USD and USD/CHF pairs supported.
- The developers disclosed information about indicators (Trend EMA, RSI, Volatility, and others) which the system uses.
- We can trade on the H1 time frame.
It’s a GBP/USD backtest report on the H1 time frame. The data period was from 2016 to 2020. The modeling quality was 99.90% with variable spreads. An initial deposit was $10,000. The total net profit has become $64,903. The Profit Factor was 1.86. The maximum drawdown was insanely deep – 50.56%. Medusa X has traded 3421. The win rate was 89% for Shorts and 90% for Longs. The win streak was twelve deals.
Let’s talk about the trading results of the system that we can see on the screenshot above. It’s a real SGD account on IC Markets. The system works automatically with 1:500 leverage. These signals are available for $50 monthly. The reliability is 2 from 5. The account has been working for 21 weeks, and it was deposited at 500 SGD. The growth is 80.96%. The maximum drawdown is 39.3%. The maximum deposit load is 5.9%. The win rate is 94.2%. The trading activity is high – 97.8%.
As we can see, the robot can experience long-term periods of drawdowns.
The profitability has gone down significantly since the beginning of December 2020.
Medusa X has traded 655 deals. The best trade is 29.26 SGD when the worst trade is -26.57 SGD. The maximum number of consecutive wins is 69 deals with 81.71 SGD of profits. An average trade frequency is 32 deals. An average trade length is 21 hours. The recovery factor is 8.11. The system works in both directions equally. The Profit Factor is 2.52. The average monthly growth is 6.51%. The annual forecast is – 78.94%.
GBP/USD is much ahead in trading frequency (479 deals) than USD/CHF (176 deals). GBP/USD has brought three times more pips than USD/CHF.
The robot has some positive reviews published on the site.