Range Trader For Multi Pair And Multi Time Frame can be found within the indicators section of the MQL5 marketplace. The indicator was uploaded by Yossarian Escobedo on the 13th of January 2016, the indicator was uploaded as version 1.7 and it has not received any further updates since it was uploaded to the MQL5 marketplace.
Range Trader For Multi Pair And Multi Time Frame is an indicator that can be used with the MetaTrader 4 trading platform. The indicator was created to help automatically find high probability range trading opportunities. It will look for pairs that are not trending that have just come off a recent high or low, the indicator uses the RSI and ADX filters to find these opportunities.
Some of the main features of the indicator:
- Has the power to monitor 28 pairs simultaneously.
- Can monitor time frames from 1 Minute to 1 Month simultaneously.
- Automatically triggers an alert when the appropriate pattern is identified.
- Can monitor any symbol for any asset within the Metatrader platform.
- Includes two separate filters (RSI and ADX), which work to identify the best possible trade setups.
The indicator only needs to be placed on a single chart, it will then be able to monitor the entire market. Along with everything else, there are some parameters that can be altered to slightly change the way that indicator works, some of these include the RSI period, the RSI up and down levels, the ADX period, the ADX level, the symbols to use, and which time frames to use.
The indicator will currently cost you $79 to purchase it outright and this will give you unlimited access and no limitations. You are also able to rent the indicator, this can be done on a one-month period which will cost you $59, you can also rent it for three months which will cost you $69 for that time.
There is a free demo version available, the site does not state what the limitations of the free account are, but it is worth downloading just to test it out, regardless of any limitations.
At the time of writing, there are 31 different user reviews giving the indicator an overall rating of 5 out of 5.
“The indicator looks good, early days but if it’s anything like the great customer service Mike provided I’m sure it will be a winner. Mike sent me some really valuable information about how real traders operate which I’m sure will be valuable for me in the future. This approach makes me believe these guys are the real deal.” – A 5-star review.
“One of my favorite indicators. Mike was great and helped me set up the indicator for optimal usage and time frame. He also gave some guidance as to the best way to trade. I was so impressed I now own 5 of their indicators.” – A 5-star review.
“I’ve been trading for over 10 years now without good results, but with this scanner, I’ve finally started making some money. I love Range Trading thanks to the “Range Trader For Multi Pair And Multi Time Frame” Many thanks to the professional team, and not least thanks for the outstanding customer service.” – A 5-star review.
So the reviews are all very positive which is a good sign, there are also a number of different comments, the developer has been replying to each one in a prompt manner which shows that the developer is actively supporting the product and the customers who use it. We would suggest downloading and trying out the free version, also contacting the developer will help you ensure that the indicator is the right one for you.