MQL5 Free EA – Verification by backtesting 11 “SimpleCoreRanger standard”

2023-01-23MQL5 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.

* Membership registration (free) is required to download EAs and indicators from the MQL5 community, so let’s create an account by referring to this article!

The 11th is “SimpleCoreRanger standard“.

About “SimpleCoreRanger standard"

Quote from the official MQL5 page

Overview

SimpleCoreRanger is a grid trading (repeat) EA that trades short and long in the middle price range and short only or long only at the end of the chart.
There is no restriction on pairs, and it can be used in any pair.
- It can be used not only for Forex pairs such as “EURUSD" and “USDJPY", but also for “S&P 500 (CFD)", “XAUUSD (futures)", “BTCUSD (cryptocurrency)", etc.
There are no restrictions on leverage and Forex brokers.
As for the time frame, we use the monthly time frame internally. On the MT5 side, there is no need to adjust the time frame of the chart that runs the EA

Logic and parameters

The specifications of the trading logic, parameters, etc. are described on the homepage, since the number of characters that can be written in MQL5 has been exceeded.

Please check here.

Sample Parameters

An example of the result of optimization on the author’s machine

AUDNZD

Variable Value
pricePeriod 24
coreRange 0.2
positionHalf 23
positionCore 35
minTP 50
maxTP 260

Trading of “SimpleCoreRanger standard"

Determining the Grid Range

From the current candlesticks, we will develop a trading strategy based on the highest and lowest prices of the past[PricePeriod] month.

About Trading

All trades are done on market orders. We do not place any limit orders

This made it possible to suppress trading when Spread expanded.

Since it is a grid trade, we do not set a stop loss

Trading is broadly divided into inside and outside the core range.

Within the Core Range, both short and long trades are traded

Above the Core Range, only short trades are taken

Under the Core Range, we only do long trades

The upper and lower limits of the core range are coreHeight and coreLowest, respectively.

Take Profit for each position and trade interval

There is one position in the same direction for each interval.

* For the calculation formula of INTERBAL, please see the original page.
https://ramune.online/invest/2022/10/30/simplecoreranger_en/

Backtesting with AUDNZD

Account: NZX Zero (ECN) (NOZAX)
Initial Balance: $10,000
Currency Pair: AUDNZD #
Lot : 0.01 Lot
Parameters: values optimized on the aforementioned author’s PC
Period: January 1, 2013 ~ November 30, 2022

Results

Orders

Although this EA is a grid trading system, it seems to be in the category of fairly small unrealized losses (Equity Drawdown Maximal). You can see the superiority of the idea (logic) of the Core Range.

But profitability is not very high. Therefore, we want to balance the tolerance for unrealized losses with the trading volume to increase the number of lots. A 0.01 lot operation could still have an unrealized loss of just over $1,000 during a 10-year backtesting period. When operating, please be aware of this before deciding the number of lots.

Also, please read the guidelines for optimization (the range of numerical values of parameters) on the aut h or’s page.