This is not a scam, it's just an EA with a poor trading logic. It enters on breakouts right at the top on exhaustions, when other people take their profits and the trend fades, this thing enters - when the party is over.
It stays in profit for 5 min. and deceives you that you will walk away with a gain, then the spike is over and you got your butt handed to you in the form of a SL.
The main idea is not bad, is just the execution of this EA with predefined conditions which dont reflect current behavior.
You can trade NEWS - which is what this EA does - successfully if you better understand the fundamentals behind it and if you have a better understanding of what is a valid BO.
And yes, most of the time this EA was too late when entering the market specially this year.
Anyway, if you want to have an EA/indicator for high volatillity beyond a ATR channel , which 90% of the time will coincide with a news...you can use this EA.
Or the indicator version of this EA which i shared long ago.