Ranger EA is a Forex EA that was launched on 19th November 2020 by Ryan Brown who is an American trader and developer. As per vendor claims, this system is based on rigorous backtesting data that depicts no losing months in 10 years. Furthermore, it has a projected profit of 2.5-10% per month, which is quite high compared to other systems.
We don’t have many details about the developer, but we can see that he has some experience developing similar systems in the past. On the official website, the main features are highlighted and ample proof is presented in the form of live trading and backtesting results.
While the vendor claims that this Forex EA can identify profitable trading occasions every week and earn profits every month, we need to verify these independently. Thus, a thorough assessment of the various system components becomes necessary.
Features
Ranger EA has 13 years’ worth of quality backtesting history and 11 months of live trading records showing profitable outcomes. It lets you trade in the AUD/CAD and GBP/CAD pairs and uses a multi-pair trading scheme for hedging purposes.
This Forex EA identifies oversold and overbought market conditions with the help of the RMI indicator. Prior to making an entry, it stands by for a dual-candle reversal pattern to appear. While grid trading is generally considered a risky strategy, this system knows how to convert losses into profits by correctly using this scheme.
How to Start Trading With Ranger EA
Ranger EA is priced at $497, and when you purchase it, you get a lifetime license that can be used with an unlimited number of demo and live accounts. Every three months, you will receive a renewable license key for free. You also have the option of renting the software for a month at $40 and three months at $120.
This Forex EA has an auto-risk calculation feature, so it will place the trades only after considering your leverage and account size. The vendor recommends trading with a broker that provides a leverage of 250:1.
Since the software has a self-installer, you don’t need to worry about going through a complicated setup process. Furthermore, the vendor recommends using the H1 timeframe for trading in the AUD/CAD pairs. There is a free discord group for this Forex robot, where you can access backtests and live trading results.
Backtests
Here we have the backtesting results for the AUD/CAD pair conducted from January 11th, 2010 to August 18, 2020. We can see that a profit of $1,040,150.08 has been generated from deposits of $1000. In this backtest, the daily and monthly gains were 0.18% and 5.53%, respectively, but the drawdown was a bit high at 55.85%.
A total of 1789 trades were made in this backtest, out of which the system won 1274, representing a profitability of 71%. In fact, it won 70% of long trades and 71% of short trades, with the average win being 35.10 pips/$1047.90. The profit factor of 4.53 is pretty high, even for a backtest, and it makes us think that this system is a profitable one.
Verified Trading Results of Ranger EA
On the official website of Ranger EA, the vendor has provided live trading results for different risk settings, but here we shall analyze this particular Myfxbook account that trades using standard risk settings. This account was launched in early January 2020 and since then it has accumulated a profit of $862.27.
In comparison with the backtests, here the drawdown is quite low at 10.19% and we think this is a positive sign. The daily and monthly gains are 0.15% and 4.52%, respectively, while the absolute gain is 86.23%. Out of 761 trades placed through this account, 538 were closed in profit, representing profitability of 71%, which is exactly the same as in the backtesting data.
While the profit factor of 2.77 is less than that found in the backtest, there is no cause for complaint. Many systems perform better on historical data and besides a profit factor that is close to three is considered to be exceptional.
Customer Reviews
Currently, there are no user reviews for Ranger EA on the Forexpeacearmy or Trustpilot websites. We think many traders are reluctant to invest in a system that has been online only for a year or so. It might take a while before people start hearing about this Forex EA and use it for live trading.
Is Ranger EA a Viable Option?
Advantages
- Live trading results are provided
- Quality backtesting data is available
- The details about strategy are revealed
Disadvantages
- A lack of customer reviews
Summary
After concluding our assessment, we are indeed impressed by Ranger EA and would like to recommend it for all Forex traders. Although it is a new system, it shows quite a lot of promise, if the backtesting and live trading results are anything to go by. We think this robot is certainly capable of delivering consistent profits.
