Tioga is a night scalping system that is fully automated. It works on all major currency pairs. As per the developer, Ozkan Kara, the ATS does not use dangerous methods like the Martingale, grid, or averaging. Instead, it uses a fixed SL for each position. The developer claims that the trading tool can generate small and steady returns with its mean reversion approach.
Ozkan Kara is from Turkey and has four years of experience in developing FX products. He has created 2 products and one signal. To contact the developer, you have to use the direct messaging option on the MQL5 site. No other support methods are available.
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From our analysis of the characteristics that the developer focuses on for this MT5 tool, here are the main features we identified:
- It is a night scalper using the mean reversion method during the closing of the US session.
- The ATS focuses mainly on the small and steady returns.
- It uses a fixed SL for every trading position.
- The MT5 tool is ideal for beginners and seasoned traders.
- A VPS is required for the proper working of the EA.
- The recommendation for the minimum deposit is $300.
- A timeframe of M5 is recommended by the developer.
- One chart can be used for working on all currency pairs.
- It works on all major currency pairs.
- ECN brokers with low commission and spread are recommended.
- The leverage should be more than 100.
To purchase this FX robot, you have to pay $495. A rental pricing option is present that will cost you $95 for a three-month period. There are no other details present related to the features available with the package. Other than a free demo offer, the developer does not divulge much info on the system. There is no money-back guarantee which further raises doubts regarding the reliability of the system. When compared to the average market rates, we find the product is overpriced.
How it works
According to the author, the ATS enters trades for just 2 hours from 21:00 to 22:59 GMT London Time. It holds only a single position for a pair at a time. The developer provides input parameters on the MQL5 site which he claims will help to use the product easily and gain better results.
A mean reversion method is used by this scalping system. The author does not explain the approach used which makes it difficult to analyze the robot and assess the risk involved. A backtesting report is provided by the developer which is shown below:
As per the stats seen above, the system had generated a total net profit of $113811.50 for an initial deposit of $3000 for the testing done from January 2021 to October 2021. A profit factor of 5.84 and profitability of 99.15% were present. The maximum drawdown was 22.96%. From the results, we can see that while the profits were high, the drawdown was also a bit high.
A real trading signal for this FX EA is published on the MQL5 site. Here is a screenshot of the trading stats.
From the above details, we can see the account shows 9.92% growth for an initial deposit of $300 and total deposits of $2700. A profit of $96.78 is generated and the drawdown for the system is 3%. For the trading started on December 22nd, profitability is 99% and the profit factor is 24.21. Monthly growth of 9.92% is present for a total of 100 trades completed. While the profits look appreciable, the sample size is too small. Hence it is difficult to assess the performance of the system.
Unfortunately, there are no user reviews for this FX EA on reputed sites like FPA, Trustpilot, etc.