Red Dragon EA MT4

Key Advantages

• Does not use Martingale, Ilan, arbitrage, Grid and other risky strategies.
• Always use of stop loss to protect capital.
• Based on genuine ‘in-house’ algorithm.
• Works with different brokers.
• It can work with a small deposit.
• Only pending orders.
• Can work with fixed lot and MM.
• Does not open orders with a high spread. (can be configured).
• https://www.mql5.com/en/market/product/14599?source=External#description
• https://www.mql5.com/en/signals/1778336?source=External

Red Dragon EA MT4

Red Dragon EA MT4

Red Dragon EA MT4

Red Dragon EA MT4

Requirements and Recommendations

• 5-digit quotes.
• Maximum allowed spread — 0 to 20 pips.
• Minimum deposit is 100$.
• Use VPS or hosting server with minimal network latency to the broker’s server.
• ECN broker with low commission and spread.
• Leverage of 1: 100 or more is recommended.
• if you use several advisors on the same account, make sure that all the advisors have different Magic numbers.
• You need to check with your broker that the broker allows you to trade scalping strategies by holding a position for less than a minute.

Parameters

• Order Type — Trade direction.
• Magic — The magic number of the EA’s orders.
• Order comment — A comment to the EA’s trades.
• Slippage — Allowable slippage before an order triggers.
• Use custom slippage — When set to true, the EA will close orders is slippage is above custom slippage.
• custom slippage — Slippage value to close orders.
• Max Spread — Maximum Spread allowed before pending order triggers.
• disable trade if spread high — Disable trading for some time (from 5 minutes to 24 hours) if the average spread exceeds  Max Spread.
• Use_Risk_MM — When set to true, lot size is increased together with account balance increase (Risk Management).
• Percentage_Risk — Lot size increase based on the balance value (Risk Management in %).
• Lot — Fixed lot value (if Use_Risk_MM – false).
• Auto_Calculation_Free_Margin — it is used if the leverage is below 1:100
• Take_Profit — take profit level in points.
• Stop_Loss — stop loss in points.
• Set Trailing Mod – six trailing stop modifications.
• Trailing Stop – trailing points when the position is in profit. (-1 = off, 0 = Stop_Loss).
• Trailing Step – trailing step when the position is in profit.
• Breakeven Target PipsInp – if the price exceeds the value, breakeven triggers. (-1 = off).
• Breakeven Jump PipsInp – stop Loss moves to breakeven at this distance.
• breakdown past weeks — When set to true, the EA uses breakdown of past weeks.
• Adaptive Trailing Stop:
  • Risk_Protection_on_slippages — If true, the EA also applies position closure in case of a slippage.
  • Adaptive_Trailing_to_slippages — If true – adaptive trailing stop.
  • Change_correction_coefficient — Trailing sensitivity coefficient.
  • Adaptive_by_Time — Algorithm of adaptive trailing by time.
  • Time_Scale — time interval for price analysis.
• Automatic_Correction_Pending_Orders  — Adjustment of pending orders.
• breakdown past weeks — Use the breakdowns of the levels of previous weeks.

Trading within the week

• Monday — When set to true, trading on Monday is allowed.
• Friday — When set to true, trading on Friday is allowed.

Time trading within a day

• Use time — when set to true, trades in certain time intervals.
• GMT_mode — GMT offset of the broker server time. (0 – not used).
• Every_Day_Start / End — operation start / end time (HH:MM).

Friday close time

• Use time — If true, trades at a certain time.
• Disable_in_Friday — operation end time on Friday (HH:MM).

Settings

• Trading Platform : MT4
• Working Currency Pairs : EURUSD, USDJPY, GBPUSD
• Working Time Frames : M30, H1
• Minimum Deposit : 100$
• Product Type : NoDLL / Unlimited / Fix

Conclusion

The Red Dragon EA MT4 stands as a testament to the capabilities of automated trading in the forex market. With its advanced features, dynamic risk management, and consistent profitability, this EA offers traders a valuable tool to enhance their trading strategies. Whether you are a seasoned trader or just starting, the precision and adaptability of the Red Dragon EA MT4 make it a noteworthy addition to the arsenal of automated trading solutions.

The information presented by this Expert Advisor (EA) and indicator is intended solely for general informational purposes. Trading inherently involves risks, and past performance does not guarantee future results. There is no assurance that any trading account will achieve profits or losses similar to those illustrated. It is important not to substitute the information provided by this EA and indicator for your own research, market analysis, or professional financial advice. Before making any trading decisions, carefully assess your investment objectives, experience level, and risk tolerance. In case of uncertainty, it is recommended to consult with an independent financial advisor. The creators, developers, and distributors of this EA and indicator disclaim responsibility for any losses incurred during software-based trading. By utilizing this EA and indicator, you acknowledge awareness of these risks and accept sole responsibility for the outcomes of your decisions.