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EA Review: Belkaglazer

Today I’m reviewing a Forex expert advisor that is focused heavily on trading strategy, Belkaglazer. It’s rare to come across developers that have an analytical approach like this one, so it’s certainly one of the more interesting Forex robots that I’ve come across in recent months. Hopefully, the intricate approach to trade management and analysis results in positive performance. This is what I’m investigating, and drawing conclusions on where I see fit.

The creator of this EA is Dmitry Shal, located in Moscow Russia. There is very little information about Dmitry’s trading history, and reputation in the Forex marketplace, but it’s clear from his approach, that he does have significant Forex trading experience. In order to get in touch with support, traders can email He also has profiles on Alpari and MQL5, that traders can direct message, but email is likely your best bet.


Belkaglazer Review

To start, I have to say that I’m impressed by the strategic transparency of the Belkaglazer EA. While we aren’t told the exact code, for obvious reasons, we are given much more information than we are usually afforded in this marketplace.

“The EA is based on 3 models: PriceChannel [PCh], Pivot, PriceAction [PA].” Then, these separate models can be utilized in conjunction with the 3 trading strategies that they’ve developed, breakout, momentum or mean-reversion. That being said, there are certainly intricacies that require a certain level of skill in order to truly utilized the expert advisor properly. With multiple models and strategies to choose from, the trader plays a large role in determining exactly how the expert advisor trades. For those looking for an out-of-the-box solution, this may not be the type of Forex robot for you.

This robot “is designed to give a huge scope for creativity and research.” Essentially, traders are given the means to explore different strategies and trading approaches within the makeup of the expert advisor. The developers provide instructions to help traders research and analyze, to find the best settings and method to fit their trading style.

This is certainly an interesting approach for traders that are looking for a project.


  • Type: Forex Robot
  • Price: $249
  • Strategy: Breakout, Momentum, Mean-Reversion
  • Timeframe: Undisclosed

Going for $249, the Belkaglazer EA can also be purchased on a trial basis for 3 months at $59, or 6 months at $99. There is also a free demo available, for traders looking to test the software before getting involved financially.

As for the pairs, there are more opportunities than those I’ve listed above. Depending on what strategy you’re using, and there are quite a few, there are different pairs optimized to each separate strategy.

Trading Results

While Dmitry has multiple Myfxbook accounts, our main focus today is on the Belkaglazer account. This account is showing a 40% gain, since December 8, 2016. The EA has been running for just over 13 months, and has shown consistent profits throughout this period of time. During this time, the robot has had 5 negative months, and 8 positive months. While this may not seem very impressive, it’s worth noting that the negative months have never reached below -4%.

In analyzing this account, we can see that it is truly a consistent winner. It’s not the type of strategy that’s going to take high risks in order to increase their profitability, but if you are looking for a monthly boost of 2.57% with a drawdown of 2.92%, then this is certainly something you should look into.

Client Feedback

With a 5 star rating on MQL5, the client feedback is very positive so far. The clients are happy with support, and frequently commend Dmitry on the documentation that he provides with the expert advisor.


If you’re looking for low risk expert advisor, then you should read up on Belkaglazer. From what I’ve seen so far, I’m impressed. I do prefer higher winning percentage numbers, but it’s hard to argue with consistency, even if it is at a slower rate than I’m used to.

If you have anything you would like to add, please leave your comment now.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

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