MQL5 Free EA – Verification by backtesting 10 "RangeScalper"

2023-01-16MQL5 Free EA

In the “Verification by backtesting" series, we verify the performance of free EAs registered in the MQL5 community from the backtesting results. We hope it will help you choose EA.

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The tenth is “RangeScalper“.

About RangeScalper

Quote from the official MQL5 page (translation)

The strategy of this EA is based on detecting tops and bottoms during night sessions. The night flat range, characterized by low volatility, usually lasts during the Asia/Oceania session. Many night scalpers have the weakness of small gains and large losses that cancel it out. This scalper (EA) uses a neural network to avoid days with high volatility and the possibility of making large losses. The neural network is currently being trained on the EURUSD pair, and more pairs will be added in the future.

Input parameters
(= initial values)

EA_Magic = 99977　
maxlot = 0.10　…　Maximum lot before slippage occurs [0 – 無効]
fixedLot = 0　…　Fixed lot [0 – 無効]
Percent_loss = 1　 …　Loss rate per trade　[最大ポイント損失500(50pips)から計算]

Back_Test_Settings = Set the broker’s GMT offset value only during backtesting

GMT_Offset_hours = 3

requirements

Symbol : EURUSD
Timeframe: M5
Account type: HEDGE
Low spreads + high execution power

It is safe to conduct a backtest to make sure you are making a profit with the broker you plan to use, and then test it on a live account. After the EA trades several times on the live account, it becomes clear whether the broker is suitable for the strategy.

Trading “RangeScalper"

We can see that it captures a small top and bottom during the Asia/Oceania session when volatility has decreased.

This EA is characterized by the way it takes lots, it seems to acquire them distributed at the same time (and the same for closing) to minimize losses due to slippage. As the number of lots increases, it seems that they are divided and the number of positions held at the same time increases, but I am not sure about the relationship between parameter settings and how to take lots (how to split). When using this EA, it is recommended to backtest with the balance settings to be operated and enter actual operation after understanding how to take lots.

Backtesting RangeScalper

Account: NZX Zero (ECN) (NOZAX)
Currency Pair: EURUSD #
Timeline: M5
Initial Balance: $100
Parameters: EURUSD symbol only = EURUSD#, GMT_Offset_hours = 1, except default
Period: December 1, 2012 ~ November 30, 2022

result

This type of EA often feels that the initial setting (initial lot) is not profitable enough to keep it as it is. However, the loss per trade is limited, and it is not the type to hold unrealized losses for a long time. Therefore, when you actually encounter a drawdown, the biggest point is to determine the number of lots taking into account how much negative is acceptable, that is, to balance profit and loss.