RangeRaider

RangeRaider is a fully automated range-breakout Expert Advisor for MetaTrader 5. It identifies the consolidation range that forms around the session open, waits for a confirmed breakout, and opens a single position in the direction of the break with a fixed Stop Loss and Take Profit. The logic is clean and rule-based, without grid, martingale or averaging.

How it works

The EA measures the price range that builds up around the chosen session. When price breaks and confirms beyond that range, it opens one position in the breakout direction. Every position is protected by a Stop Loss and a Take Profit from the moment it opens. The lot size is calculated automatically from a fixed percentage of the account balance, so the risk per trade stays consistent on any account size. A spread filter prevents entries when the spread is abnormally wide, for example during news or rollover.

Backtest

The figures below come from a strategy-tester backtest on real-tick data with 100% modelling quality, a 100000 USD starting balance and a five-month period. These are historical test results; they do not represent live trading and do not guarantee future performance.

- Net profit: 19.7%

- Profit factor: 1.46

- Sharpe ratio: 3.58

- Maximum drawdown: 6.7%

- 107 trades, about 50% win rate, average win larger than average loss

Key inputs

- Risk per trade as a percentage of account balance

- Stop Loss and Take Profit (reward-to-risk ratio)

- Time window that defines the range and session

- Maximum allowed spread

- Magic number

Recommended setup

- Timeframe: M15

- Symbols: any instrument; best on volatile instruments such as XAUUSD, EURJPY and USDJPY

- Account type: hedging or netting

- A low-latency VPS is recommended for stable execution

Requirements: MetaTrader 5 and a broker offering the listed symbols with reasonable spreads.

Risk warning: trading financial instruments and CFDs involves a high level of risk and may not be suitable for every investor; you can lose all of your invested capital. This product is a technical tool for educational and testing purposes and is not investment advice.