MarketRanger
- Experts
- Edwin Tendai Makuwe
- Version: 1.0
- Activations: 5
The MarketRangerEA is a Range Breakout EA designed for MetaTrader 5. The Expert Advisor is designed to trade range breakouts with a retracement function. The EA has been thoroughly tested for the USDJPY pair. After extensive testing, the following strategy is recommended(you can use own strategy if you wish):
1. Open 3 windows for the same pair and the same timeframe
2. Select three periods [Rangeopen (0-23), Rangeend (0-23), and Rangeclose (0-23)] Consult the screenshots provided for inspiration
3. Drag and drop the EAs into each of the 3 windows (make sure magic numbers are different)
4. In the inputs, make sure you enter your profit target (if you are aiming for 10 profit you must enter 1.1). This profit target is based on the weekly starting balance. eg if you are starting with US$50 and you set the target to 1.1, it means the EA will remove itself once you reach 50.00
5. Also enter maximum drawdown (If you want to risk 10% you must enter 0.9, if you want to risk 30 % you will enter 0.7 for drawdown).
The EA will deinitialise and remove itself once the target is reached or the maximum drawdown is reached.
If you wish to continue trading you can reload the EA. This function was added because it was discovered that most losing trades tend to have a period were they were quite profitable. The EA capitalizes on this observation. If the target or drawdown is not reached, the EA will not remove itself but open trades will simply close at the set close time. Please we invite you to test the EA using real tick data "Every Tick, based on real ticks" setting, you will not be disappointed. It works on most pairs just be mindful of the optimal hours for trade.
Running the EA seem to be more work than what is often advertised by most developers because of the reloading after deinitialization. Remember you have to put some work. I am yet to see a profitable set and forget EA. Though profits are not guaranteed, we believe this EA beats most of what the market is offering.
SIMPLICITY IS THE ULTIMATE SOPHISTICATION is our Motto at TJMarket Solutions.
Happy Trading
