PZ Averaging EA Review
The PZ Averaging EA is a bot from Point Zero Trading Company. Just like the PZ hedging EA, this bot is designed to recover your losing trades. It works on the MetaTrader framework.
In this review, we analyze this EA, the strategies, user feedback, and stats. At the tail end, we tell you if it’s a good choice bot.
What is PZ Averaging EA?
The primary work for this forex robot is turning losing trades into winnings using Averaging strategy. The developer behind the PZ Averaging EA is Arthur. Currently, the version available is v16, updated on April 2021. The first version was released in 2017. The current version works well with Windows operating system 7/8/10.
Once your initial trades move into negative territory, the recovery mechanism kicks in and places consecutive market orders in the same direction at fixed price intervals. All this will be closed with a combined profit or approximately breakeven. The mechanism in use is compatible with NFA/FIFO rules and accepted by US Brokers.
The initial trade is handled independently. This is to avoid recovery when the conditions are not correct. However, the EA is tasked with performing break-even to preserve the trader’s capital. Secondly, the StopLoss trailing and TakeProfit are activated by the EA. Finally, if a trade goes into negative territory, the recovery process kicks in.
The averaging process is fully customizable. The trader can increase the spacing and lot sizes from one trading block to another.
The purchase price for the current version of this EA is $299.
- MT4 EA file
- Free software updates
- Lifetime technical support
How to get Started
- Load the EA to any chart and timeframe
- Edit the settings until the risk is acceptable
- Trade using the chart buttons or enable an entry strategy
- Let the EA handle the trade and book a profit
PZ Averaging EA: Performance Stats
The developer provides several backtests results for this EA.
The results are for the EURUSD currency pair. The test data spanned 10 years, from 2007 to 2017. The results show a net profit of $6,730 from an initial deposit of $1,000. The profit figures are in line with the recover strategy as stated by the developer. Profit factor for the test stand at 1.99 with average wins standing at 86%. However, the concern here is the drawdown which is at 41%.
Looking at the other backtest results shows telling differences. The variances arise from the different numbers of trading blocks and entries into the trade. The timeframes utilized are also different, with many of the tests using D1 timeframes while the other used H4. The profit factor also varies, ranging from 1.99 to 4.2.
What confirms an EA’s performance is the real, verified accounts. This is either hosted on FX Blue or Myfxbook. In this case, Arthur only offers a screenshot of the account on Myfxbook. We will only analyze the latest one.
The results show an overall gain of 71% with monthly growth standing at 3.5%. However, the drawdown is above 25 which is a concern. From an initial deposit of €2,309, the EA got a net profit of €1,343. This account was hosted over a period of one and a half years.
Please note that we cannot independently verify these results. We could not find this account on Myfxbook.
PZ Averaging EA: User Feedback
Point Z trading company has rave reviews on reputable third-party websites. We found a review on one of these sites.
We also saw user engagement between Arthur and users on the website.
Our main disappointment with this EA is the lack of a real account. The use of screenshots that are not verifiable does not inspire a lot of confidence.
However, we get the impression that the developer takes their time to respond to client queries. Traders who may want to invest in EA can engage with Arthur to get clarifications.
Finally, we think that traders who decide to invest in this EA need to be very careful. With a purchase price of $290 and a deposit, you require a substantial amount to get it up and running.