RangeBox Trader
Expert Advisor for Metatrader 4 platform that will open trade(s) when currency price reach high/low level of the last range box. You need to set desired start and end hours of the range and EA will start trading at the high and low level of that range. You will have manually set start and end hours and other parameters. EA can be used on the same currency pair with different magic number to trade unlimited range boxes. You will find example trade illustrated in the image below.
RangeBox Trader features
- EA license works on 1 Real account and any Demo account
- EA is designed for Metatrader 4 platform
- Can handle two lines: high level for BUY signal and low level for SELL signal
- Allows to set expiry time and trades can be closed at that event
- Allows to add desired number of pips to widen range
- EA can place pending regular orders or use hidden pending orders
- Stop Loss and/or TakeProfit are set in percent of the range size
- Lot size can be fixed or EA can use Advanced Money management
- OCO supported. EA can cancel opposite pending order when one is triggered
- EA supports unlimited number of range boxes on the same currency pair
- All settings displayed on the chart in the left-top corner
- Many custom settings can be configured to fit your needs
- Any desirable features can be added individually for additional payment if you purchase unlimited version
Price for lifetime license €120 EUR for single account
We will contact You after we receive payment
How RangeBox Trader can be useful for me?
There are a lot of similar Forex Trading Systems were you have to take the last high and low price levels of the specific time range and open trades when market price reach those levels. Usually these are Breakout Trading Systems where you should open BUY trade if price touch the high level and open SELL trade if price touch the low level. If you have a full time job or just do not want to sit in front of the computer all day, you will likely miss those moments when you need to open the trade.
RangeBox Trader will help you with this. You just need to set your desired settings and it will monitor the Forex market 24/7 to open trades at the right moment. Many traders use the range from midnight until London/Europe session open and then draw lines at the high and low manually or use pending orders. They calculate lot sizes, stop loss, take profit level manually and that can take much time and effort. RangeBox Trader will do all this automatically in a matter of seconds.
How to use RangeBox Trader?
- Once started EA will draw a Range Box from starting till ending time set
- EA will open trade at high and low of the Range Box
- When running EA on many charts it is recommended to not use pending orders to avoid “Trading Context Busy” error
- If pending orders are disabled (UsePendingOrders=false) you will see two lines ar the high and low of the range box
- EA will open BUY trade when price touch top line
- EA will open SELL trades when price touch bottom line
- Lot Size, Stop Loss, Take Profit and any other settings are controlled by special EA settings which are described below
Some of the RangeBox Trader EA Inputs
AllowBuyTrades and AllowSellTrades
there you can set which trades EA can open
there you can set which trades EA can open
TakeProfitPercent
this variable is used to set Take Profit in percent of the Range Box. Default is 50%. So if Range Box size is 80 pips, your take profit will be set to 40 pips
this variable is used to set Take Profit in percent of the Range Box. Default is 50%. So if Range Box size is 80 pips, your take profit will be set to 40 pips
StopLossPercent
this variable is used to set Stop Loss in percent of the Range Box. Default is 100%. So if Range Box size is 80 pips, your stop loss will be set to 80 pips
this variable is used to set Stop Loss in percent of the Range Box. Default is 100%. So if Range Box size is 80 pips, your stop loss will be set to 80 pips
BoxStart and BoxEnd
these variables are used to set the start and end time of the Range Box
these variables are used to set the start and end time of the Range Box
Expiry
there you can set when your pending orders must expire and they will be deleted if not triggered until this time
there you can set when your pending orders must expire and they will be deleted if not triggered until this time
CloseTradesOnExpiry
if this variable is set to TRUE EA will close all open trades at “Expiry” time
if this variable is set to TRUE EA will close all open trades at “Expiry” time
BoxHighAddPips and BoxLowAddPips
these variables are used to set number of pips that EA will add to high and low of the Range Box to widen it. This is useful to avoid false breakouts
these variables are used to set number of pips that EA will add to high and low of the Range Box to widen it. This is useful to avoid false breakouts
UseMoneyManagement
if this feature is set to true EA will use special function to calculate lot size. Otherwise it will use FixedLotSize value. Use Risk_Percent variable to set risk in percent. It is calculated using stop loss
if this feature is set to true EA will use special function to calculate lot size. Otherwise it will use FixedLotSize value. Use Risk_Percent variable to set risk in percent. It is calculated using stop loss
UsePendingOrders
if this variable set to TRUE EA will use pending orders, otherwise EA will use hidden pending orders (default)
if this variable set to TRUE EA will use pending orders, otherwise EA will use hidden pending orders (default)
BuyLineColor and SellLineColor
choose what colors to use when EA will draw BUY and SELL lines when using hidden entry
choose what colors to use when EA will draw BUY and SELL lines when using hidden entry
OCO
One-Cancels-Other. If set to true EA will cancel opposite pending order when first one is triggered
One-Cancels-Other. If set to true EA will cancel opposite pending order when first one is triggered
DrawAdditionalLines
if this variable is set to True EA will draw additional lines: Take Profit, Stop Loss, Range High and Low lines
if this variable is set to True EA will draw additional lines: Take Profit, Stop Loss, Range High and Low lines
TrailStopStartPips and TrailStopMovePips
EA will activate Trailing Stop function when trade goes in profit by pips value set in TrailStopStartPips. Once activated EA will move stop loss in profit every pips value set in TrailStopMovePips
EA will activate Trailing Stop function when trade goes in profit by pips value set in TrailStopStartPips. Once activated EA will move stop loss in profit every pips value set in TrailStopMovePips
BreakEvenPips
sets how many pips trade should get into profit before stop loss is moved to the entry price
sets how many pips trade should get into profit before stop loss is moved to the entry price
StopType
you can choose between two different Stop Loss and Take Profit methods. If this value is set to 1, EA will use TakeProfitPercent and StopLossPercent settings to calculate Stop Loss and Take Profit. If StopType value is set to 2, then EA will use TakeProfitPips and StopLossPips
you can choose between two different Stop Loss and Take Profit methods. If this value is set to 1, EA will use TakeProfitPercent and StopLossPercent settings to calculate Stop Loss and Take Profit. If StopType value is set to 2, then EA will use TakeProfitPips and StopLossPips
TakeProfitPips and StopLossPips
this will set Stop Loss and Take Profit to a fixed number of pips
this will set Stop Loss and Take Profit to a fixed number of pips
BoxColor
select any desired range box color
select any desired range box color
BoxRangeExceedColor
when range box size in pips will exceed the MinBoxRange or MaxBoxRange value, EA will use this color to draw the box. Easy to spot if range box is too big or too small. In such case EA will not open trades and wait for the next day to trade new range box.
when range box size in pips will exceed the MinBoxRange or MaxBoxRange value, EA will use this color to draw the box. Easy to spot if range box is too big or too small. In such case EA will not open trades and wait for the next day to trade new range box.
MaxSpreadPips
set maximum allowed spread. If the spread will be higher than this value at the trade open moment, EA will skip the trade
set maximum allowed spread. If the spread will be higher than this value at the trade open moment, EA will skip the trade
Reverse
if this variable is set to TRUE EA will open trades in the opposite direction. A SELL trade will be opened when market price touch BUY line and a BUY trade will be opened when market price touch SELL line. If this variable is set to FALSE (default) EA will trade in regular mode.
if this variable is set to TRUE EA will open trades in the opposite direction. A SELL trade will be opened when market price touch BUY line and a BUY trade will be opened when market price touch SELL line. If this variable is set to FALSE (default) EA will trade in regular mode.
In the picture above you see EA running on the GBPUSD M15 chart. EA is set to open only BUY trades and you can see only blue line at the high of the Range Box
Price reached Range Box high level and EA opened a BUY trade
BUY trade reached Take Profit level. SELL trade was not opened because EA is set only to open BUY trades.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.