Ranger EA is a new Forex robot launched on 19th November 2020 that is based on 13 years of profitable backtesting data. It monitors the market carefully and picks out profitable trading opportunities every week using an advanced money management system for multiple pairs. As per the vendor, this system is capable of generating a monthly profit of 2.5-10%.

Ranger EA: Characteristics

Ranger EA places trades every week and uses a corrective technique to convert the disadvantageous trades into profitable ones. It has been created after 6 months of rigorous development and it has been live for more than 11 months, during which time it has generated large profits. 

The leverage and account size are detected automatically by this Forex EA and the trades are placed based on those parameters. It requires no complex installation since the software comes with a self-installer that copies all the required files onto your computer. Customer support is provided on a 24*7 basis.

Currency Pairs, Strategy & Timeframe

Using Ranger EA, you can deal in the AUD/CAD and GBP/CAD pairs efficiently by analyzing their behaviors. It uses a multi-pair hedging technique where the pairs perform stronger together and this leads to more long-term advantages. The timeframes used for the AUD/CAD and GBP/CAD pairs are H1 and M30, respectively.

This Forex EA employs a grid trading technique that can be difficult to pull off. The vendor claims this system has what it takes to use this strategy properly and close trades in profits. Ranger EA identifies overbought and oversold areas in the market with the help of the RMI indicator. 

If the robot manages to identify such a market, it will make its entry after a two-candle reversal pattern has appeared. Using this strategy, it is able to earn gains on an account having leverage as small as 50:1.

Ranger EA Trading Performance

Ranger EA Trading Performance

Here we have the backtesting data for trades conducted on the AUDCAD pair starting from 11th January 2010 to 18th August 2020. We can see that a profit of $1,040,150.08 has been generated from deposits of $1000, with the daily and monthly gains being 0.18% and 5.53%, respectively. That being said, the drawdown is a bit high at 55.85%.

A total of 1789 trades were placed in this backtest, out of which the system managed to win 1274, and this represents a win percentage of 71%. It has won 70% of long trades and 71% of short trades, so no doubt it has a high profit factor of 4.53. 

Ranger EA Myfxbook

This is a live trading account of Ranger EA that has been independently verified by Myfxbook. It was started on 2nd July 2020 and currently, the profit stands at $189.05. Studying the trading history, we can see that it has suffered a few consecutive losses in March, but otherwise, most trades have been closed in profit.

Here also, the win percentage is 71%, and the Forex EA won 291 out of 410 trades, with the average win being 28.40 pips/$4.11. Currently, the daily and monthly gains stand at 0.06% and 1.95%, respectively. The drawdown is 22.52%, which is significantly lower than what it was in the backtest, and we take this as a positive sign.

And, the profit factor of 1.19 is barely enough for us to call this system reliable. As per our assessment, Ranger EA is a system that maintains a constant stream of profit while trading in the Forex market. 

How Much does it Cost?

Ranger EA is available for a one-time fee of $497 that gives you access to a lifetime license for an unlimited number of demo and live accounts. Every three months, you will receive a renewable license key, completely free of cost. The vendor has explicitly mentioned that no refunds are offered for this product, which makes us wary about investing in it.

Reviews from Customers

There are no user reviews for Ranger EA on popular third-party review websites. Since this is a new system that has only been trading for a few months, it is not very surprising that very few people are using it right now. It may take some time before this Forex EA has earned a reputation for itself in the highly competitive Forex automated trading systems industry.

Should You Use Ranger EA Robot?

ProsCons
Live trading results verified by MyfxbookNew product with no customer reviews
Extensive backtesting data availableNo money-back guarantee
Trading strategy explained

Conclusion

After assessing the various aspects of Ranger EA, we have reached the conclusion that it is a decent and trustworthy system. It maintains transparency in terms of trading performance by supplying us with backtesting data and live trading results, both of which are verified by Myfxbook. Although it is a new system, we think it is worth trying out.