Trend Range Pro uses night and intraday scalping with the implementation of grid orders. The EA is available at the MQL 5 marketplace for an asking price of $195. There are multiple settings within the algorithm’s code that traders can access from the input panel and tweak the robot. Let us see if the strategy used by the expert advisor is worthy of use on our live accounts.
Detailed forex robot review
The robot is available at the MQL 5 marketplace, where all the information is available on a single page. The developer shares little to no features of the algorithm with us, which is a bad practice.
Aleksei Ostroborodov is the author of the product who resides in Russia. He has a total rating of 3.7 for 50 reviews. The developer has 13 products published on the MQL 5 marketplace and has 104 subscribers for his services. He has four years of experience. There are no performance records or portfolio certificates that can verify his experience.
The robot has the following set of features:
- It has a hard stop loss for every position.
- It has high spread protection within.
- It can use fixed and dynamic lots according to the preference of the trader.
- It is available for both MT 4 and 5 platforms.
How does it work?
The robot works by following the steps mentioned below:
- Login to the MQL 5 community on the MT 4 or 5 platform and purchase the system.
- Refresh the experts’ tab and attach the EA to the respective charts.
True Range Pro strategy tests
The developer is not transparent about the strategy utilized by the algorithm. He only states that the robot uses a night and intraday scalping pattern and also employs a grid to profit. It can trade on EURUSD and GBPUSD. Through the records on Myfxbook, we can see that most trades are held for an average duration of one day, which conforms to an intermediate approach between day and swing trades.
The developer shares backtesting results for EURUSD and GBPUSD through multiple images. On EURUSD, the relative drawdown was around 35.96%. The winning rate was 82.81%, with a profit factor of about 3.54. The best trade was $888.05, while the worst one was -$803.27. There were a total of 1914 trades where the robot made a net profit of $65363.12, starting from an initial deposit of $3000.
Live trading results
Live trading results are tracked via Myfxbook, which shows performance from February 18, 2019, till the current date. Since then, the robot has had an average monthly gain of 7.07 with a drawdown of 29.22%. The drawdown value, in contrast with the monthly output, gives a poor risk-reward of 3:1. The winning rate stood at 79%, with a profit factor of 2.45. The best trade was $211.56, while the worst was -$424.41. There were a total of 1282 trades.
The robot can be bought for a one-time price of $195. There is no money-back guarantee.
Customer reviews are only available at the MQL 5 marketplace. The reviews are positive and look as if they have been purchased or manipulated.
True Range Pro uses a risky grid strategy that can turn an account into dust if employed. These types of game plan only work when the market is in a range. As soon as the market trends the drawdown increases and results in liquidation.