True Range is an expert advisor that can be found within the MQL5 marketplace. The expert advisor was first uploaded on the 5th of May 2019 by Smart Forex Lab, it has had a few updates, the most recent was on the 6th of December 2019 and this update brought it up to version 2.10.
True Range is an expert advisor that was created to be used with MetaTrader 4. The expert advisor was designed to give accurate night scalping using a smart grid system for the double protection of your account.
The main features of the expert advisor:
- Accurate night scalping & smart grid system
- Stoploss for every position
- 100% automated daily trades
- Spread control
- Overlap & Auto lot system
- Various progression types (off/arithmetic/geometric)
- DDStop – loss control system
The recommended settings for True Range:
- ECN account 1:400+
- Fast VPS
- Timeframes: EURUSD M5
- Min Deposit: $300-500/0.01l
There are also a bunch of parameters available to alter, some of them include the maximum spread, max lot sizes, first lot size, auto lot sizes, grid sizes, take profit levels, stop loss levels, colors, and many more options are also available.
True Range can currently be purchased for $195, this version will offer you unlimited access without any limitations. If you do not wish to purchase it outright there is also the option to rent it, you can rent it on a monthly basis which will cost you $50 per month, for a three month period it will cost you $100 and for six months it will cost you $150.
There is a free demo version available however this version will have some limitations, sadly, there isn’t any information available regarding the free version such as what the limitations are, whatever they may be, we would still recommend downloading it to try out.
True Range currently has been rated 4 out of 5 from the 9 reviews that are present.
“Works much better than 99% of much more expensive EAs! This EA is working well on Demo, and Live is showing promise too! Truly, the developer is making money from trading and not from selling! Definitely worth more than 5 Stars!” – A 5-star review.
“Nice EA. Great support from the developer. I would give it 10 stars if I could!” – A 5-star review.
“Good in demo! Update 11/2/2020 It is not recommended to use real accounts” – A 2-star review.
There is a mix of positive and negative reviews, the negatives aren’t really giving too much information as to why it is bad. There are plenty of comments for True Range, the developer has been replying to them in a prompt manner which has given a great impression of the customer support that he is providing. We would recommend that you try the free version. You should also send the developer any queries that you have, just so you can be sure that it is right for you and will do what you need it to before you make a purchase or rental of the expert advisor.