There is a Cheytach EA which causes a lot of discussion going around as to it’s effectiveness. I have not used it but according to my friend, he have tested it with M5 timeframe, and that during the Asian Market with the default setting by making it sure that the time is very accurate which is slightly earlier that the Asian market from 21-22 GMT and a one hour earlier, it made a very big loose while it close all trades 3-4 GMT done manually.
While in 3 weeks tests with a good Asian Time using EUR,USD, GBP, CAD with JPY/AUD/NZD, while it has won a 13 days with less than 3 days losing, profit, it was like that its profitable, but there is no definite assurance if it still profitable in coming months.
It was kind of risky for the counter trend. It could have a strong trend/breakout trading ability. This is what they call average plus and can enable in setting. That will detect where the strong trend goes and just open the trades where the direction of the trend is going. He said this EA is just a scammer. It will show you in the backtest that it won but in the real accounts, it doesn’t. What’s worse is that Cheytach indicator is MTF indicator on M15 and their mt4 platform does not work.