We have a True Range Pro advisor to review. The system was demo downloaded 1156 times. The release date was September 9, 2020. The last version is 3.0.
True Range Pro: characteristics
For your comfortability, we have gathered all intel in the following list:
- The advisor works completely automatically for us. It knows when it’s the right time to open or close orders.
- The system executes night and intraday scalping with a smart grid of orders strategy.
- We can get 5-10% monthly on EURUSD on the M5 time frame.
- We can get 20-40% monthly on GBPUSD on the M1 time frame.
- There are hard-stop losses.
- We have high spread protection.
- It was optimized on the Weltrade broker house.
- We can purchase MT4 and MT5 versions of the system.
- The GMT offset should be +3.
- The leverage can be from 1:100.
- We should use the system on a VPS service.
- We may work with the next broker houses: Weltrade, ForexChief DirectFx, IC Markets Raw Spread.
Currency pairs, strategy & timeframe
- The system scalps at night and during the day. It uses a grid of orders as well.
- EURUSD is good to go on the M5 time frame.
- GBPUSD works well on the M1 time frame.
True Range Pro trading performance
We have a backtest provided. It was executed on EURUSD in the M5 time frame. The period of data was 2017-2020. The profit factor was 3.5. The maximum drawdowns were 10.8%. An initial deposit was $3,000. The total net profit was $65,363.
It’s nice of developers to provide us with relevant trading results. It’s important to understand what’s going on in the market right now and how the robot handles this. This data shows us a relevant win rate and an expected profit factor. The system has been set on a real USD account on Forex Chief to work automatically with 1:400 leverage on the MT4 platform.
The system traded 1274 orders with 10,826 pips. An average win is 16.20 pips when an average loss is -21.13 pips. The win rate is 78% for longs and 79% for shorts. An average trade length is one day. The profit factor is 2.44.
The system trades the Shorts direction more frequently and is profitable.
The advisor prefers opening orders at night and at the beginning of the Asian session.
The system opens more orders on Monday than on any other day.
The advisor works with medium risks to the account balance. We have to lose 34 orders in a row to lose 10% of the account.
The advisor almost doesn’t use a Grid of orders.
The system closed all months with profits in 2021.
How much does it cost?
The system can be purchased for $195 for a real account lifetime license. There are no rental options provided. We can download a demo copy of the system to test it on the terminal.
Reviews from customers
The advisor has many positive testimonials written on the presentation page. We can’t be sure that all of them are real.
Should you use True Range Pro?
|Backtest report provided||No risk advice given|
|Trading results shared||There’s a Grid of orders on the board|
|Affordable pricing||The robot is so young|
|No rental option provided|
True Range Pro is a trading solution that executes a scalping strategy with a grid of orders, focusing mostly on night trading. The system works with significant drawdowns. There are no rental options to give this robot a try.