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In the Standard edition, all functions are available forever for free.
Download the ‘SimpleCoreRanger standard’ Trading Robot (Expert Advisor) for MetaTrader 5 in MetaTrader Market
Overview SimpleCoreRanger is a grid trade (repeat type) EA that trades short and long in the middle price range, and only short or only long at the
In the Pro edition, in addition to the functions of the Standard edition, the following additional functions are available.
- Trading restrictions when spread widens
- Safe function (stop trading when margin or margin level drops)
- Compound interest trading function (automatic calculation of lot based on free margin)
Buy the ‘SimpleCoreRanger pro’ Trading Robot (Expert Advisor) for MetaTrader 5 in MetaTrader Market
Overview SimpleCoreRanger is a grid trade (repeat type) EA that trades short and long in the middle price range, and only short or only long at the
Performance on live accounts
It is also available as a copy trading service.
Trading Signals for MetaTrader 5: SimpleCoreRanger USDCHF
SimpleCoreRanger USDCHF Trading Signal for MetaTrader 5: social trading, mirror trading, copy trading and account monitoring
Trading Signals for MetaTrader 5: SimpleCoreRanger EURGBP
SimpleCoreRanger EURGBP Trading Signal for MetaTrader 5: social trading, mirror trading, copy trading and account monitoring
Trading Signals for MetaTrader 5: SimpleCoreRanger AUDNZD
SimpleCoreRanger AUDNZD Trading Signal for MetaTrader 5: social trading, mirror trading, copy trading and account monitoring
Overview
- SimpleCoreRanger is a grid trade (repeat type) EA that trades short and long in the middle price range, and only short or only long at the edge of the chart.
- There are no restrictions on pairs, and any pair can be used.
- It can be used not only for FX pairs such as “EURUSD” and “USDJPY”, but also for “S&P500 (CFD)”, “XAUUSD (futures)”, “BTCUSD (cryptocurrency)”, etc.
- There are no restrictions on leverage and forex brokers
- As for the time axis, we use the monthly chart internally. There is no need to adjust the time axis of the chart that runs the EA on the MT5 side
Logic and Parameters
Parameters are enclosed in [].
Determining the grid range
In this EA, a trading strategy is made based on the highest price (Highest) and lowest price (Lowest) of the past [PricePeriod] months from the current candlestick.
The calculation formula for each item is as follows.
Highest = highest price in the last [PricePeriod] months Lowest = lowest price in the last [PricePeriod] months Distance = Highest – Lowest CenterLine = Distance / 2 + Lowest
These values are used to calculate the “interval” for making trades.
About trading
- All trades are made with market orders. No limit orders
- As a result, it is now possible to suppress trades when Spread is expanded
- Since it is a grid trade, EA do not set a stop loss.
- Trading methods are roughly divided into inside and outside the core range
- Within the core range, both short and long trades are made
- Only short trades above the core range
- Only long trades under the core range
The upper limit of the core range is coreHighest, and the lower limit is coreLowest.
CoreHighest = CenterLine + Distance * [coreRange] CoreLowest = CenterLine – Distance * [coreRange] core range: CoreLowest ~ CoreHighest
TakeProfit and trade “interval” for each position
There is one positionin in the same direction for each “interval”.
The calculation formula of “interval” is as follows.
interval = Distance * ( 2 * [coreRange] ) / [positionCore] But if interval < [minTP]pips then interval = [minTP] But if interval > [maxTP]pips then interval = [maxTP]
interval = Distance * ( 1- 2 *[coreRange] ) / [positionHalf]
But if interval < [minTP]pips then interval = [minTP]
But if interval > [maxTP]pips then interval = [maxTP]
In other words, if you already have a position within the upper or lower interval from the current price, the trade will not take place.
Also, the take profit value of the position (TakeProfit) is the same value as the interval.
Basically, the maximum number of positions will be close to [positionHalf]+[positionCore], but not if the interval is less than [minTP]pips or more than [maxTP]pips.
About the number of lots
※[risk] parameter is only available in pro edition
Two methods are available: fixed lot method and variable lot method.
If the number of lots is less than the minimum lot specified by the broker, the trade will not take place.
Fixed lot method
In the fixed lot method, lot is determined by the following formula.
lot = [lot]
Variable lot method
In the variable lot method, lot is determined by the following formula.
lot = free margin * [risk] / margin required to buy 1 lot of trading pair
- When the drawdown becomes large, it is possible to reduce the lot number and increase the lot number when there is room to do compound interest trading with reduced risk.
- Easy to balance when trading multiple pairs.
- For example, when trading 1 lot, the required margin is different between EURUSD and USDJPY, so with the fixed lot method, the bet will be biased towards one of the pairs.
- In the floating lot method, this problem does not occur because the lot is determined based on the excess margin.
※When using variable lots, the number of lots is calculated based on free margin, so the higher the leverage, the more free margin and the higher the risk than expected. Be careful when changing leverage.
※When using variable lots, set [lot] to 0.
safe function
※[spreadLimit][stopEquity][stopMarginLevel] parameters are only available in pro edition
- Do not trade if the current spread is greater than or equal to [spreadLimit]
- Do not trade if the current valuation is less than or equal to [stopEquity]
- If the current margin maintenance rate is less than [stopMarginLevel], no trades will be made.
magicNumber
To identify the position managed by this EA, set [magicNumber] so that it does not overlap with other EAs.
This EA operates only on the positions associated with [magicNumber].
Log
Troubles that occur on the EA are displayed on the upper left of the chart.
If you turn on [debugMode], you can check the log not only on the upper left of the chart but also on MT5 Journal
※When debugMode is ON, if too many logs accumulate, MT5 and machine storage may be squeezed and malfunction may occur. Please pay attention to the remaining storage capacity when using.
About optimization
Higher performance can be achieved by optimizing the pair you want to use.
- When managing multiple pairs, risk diversification can be expected by choosing pairs with less correlation.
- Specify the minimum lot (0.1 or 0.01) for [lot].
- It is recommended to use “Complex Criterion Max” for optimization evaluation.
- For optimization, I recommend a testing period of at least 3 years.
- To avoid curve fitting, it is recommended to dedicate half of the testing period to forward testing.
The recommended optimization items are as follows.
Please adjust while consulting with your preferences and machine specs.
| Variable | Start | Step | Stop |
|---|---|---|---|
| pricePeriod | 1 | 1 | 96 |
| coreRange | 0 | 0.05 | 0.5 |
| positionHalf | 1 | 1 | 50 |
| positionCore | 1 | 1 | 50 |
| minTP | 10 | 5 | 100 |
| maxTP | 101 | 10 | 301 |
※If you feel that the machine power is not enough, we recommend using MQL5 Cloud Network.
Speed Up Calculations with the MQL5 Cloud Network
How many cores do you have on your home computer? How many computers can you use to optimize a trading strategy? We show here how to use the MQL5 Cloud Network …
Optimization result sample (2015/05~2022/07)
The best settings when optimizing on the author’s machine are as follows.
| Variable | Value |
|---|---|
| pricePeriod | 24 |
| coreRange | 0.2 |
| positionHalf | 23 |
| positionCore | 35 |
| minTP | 50 |
| maxTP | 260 |