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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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.
Parameters: values optimized on the aforementioned author’s PC
Period: January 1, 2013 ~ November 30, 2022
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 author’s page.