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EA Red Dragon is an MT4 expert advisor that places pending orders around key support and resistance levels, with an adaptive trailing stop and optional spread and slippage filters. It is aimed at short-term trading on major forex pairs.
Get one message the moment it launches, with its price.
EA Red Dragon is an automated trading tool for MetaTrader 4 that looks for breakouts of important support and resistance levels and enters with pending orders. It manages open trades with an adaptive trailing stop and can filter out trading when spreads or slippage are unfavourable.
The expert advisor identifies price levels where the market has previously turned, and places pending orders beyond them so that a trade is opened only if price breaks through. Each position carries a stop loss, and the stop distance is set in points, so you can see in advance how much each trade risks. An option allows the levels from previous weeks to be included in the analysis.
An information panel on the chart displays trading statistics collected by the expert advisor.
The tool is designed for major forex pairs, notably EURUSD, USDJPY and GBPUSD, on the M30 and H1 timeframes. Because it trades in short bursts around price levels, it is sensitive to spread, execution speed and commission. An ECN-style account with 5-digit quotes and a VPS close to the broker server are advisable. Leverage of 1:100 or higher is commonly suggested, and a separate free margin calculation option exists for lower leverage.
Check the full input list in the terminal after loading the expert advisor. The main groups are:
| Group | What it controls |
|---|---|
| Order type, magic number, comment | Trade direction and how the orders are identified |
| Slippage and custom slippage | Allowed slippage and the level at which positions are closed |
| Max spread and spread pause | Maximum spread allowed, and a temporary trading pause when it is exceeded |
| Lot, risk sizing, percentage risk | Fixed lot or lot size scaled to the balance |
| Take profit, stop loss | Exit levels in points |
| Trailing and breakeven | Trailing mode, distance, step, breakeven trigger and jump |
| Weekdays and time windows | Days and hours when trading is allowed, a GMT offset, a Friday close time |
Default values and recommended sets can differ by symbol, so test them yourself rather than assume they suit your broker.
Trading carries risk and past results do not predict future ones. Short-term strategies can be affected by spreads, slippage and broker rules. Test on a demo account and in the strategy tester first, and never risk money you cannot afford to lose.
Before going live, confirm with your broker that short-term trading is allowed, and check your account's spread, stop level and minimum lot.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 (expert advisor) |
| Strategy focus | Scalping, Signals, Grid, Support and resistance |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor, automated trading |
| Trade style | Short-term breakout and scalping with pending orders |
| Suggested markets | EURUSD, USDJPY, GBPUSD |
| Suggested timeframes | M30 and H1 |
| Account type | 5-digit quotes, low-spread ECN-style account preferred |
| Deposit | Around 100 USD is suggested; confirm with your broker |
| Hosting | VPS with low latency to the broker is recommended |
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This listing is for the MetaTrader 4 build only. A separate MetaTrader 5 edition exists, but it is a different product and will not load in MT4. Check that you are using the correct platform before you buy.
The tool is built around EURUSD, USDJPY and GBPUSD on M30 and H1 charts. EURUSD and USDJPY on H1 or M30 are the usual starting points. Test any other symbol thoroughly in the strategy tester before using it on a live account.
It needs a broker that offers 5-digit quotes, low spreads and permits short-term trading, including positions held for under a minute. Confirm this with your broker. Make sure the stop level and spread settings on your account allow pending orders close to the market.
Yes, but give each expert advisor on the account its own magic number. Otherwise they may treat each other's orders as their own and interfere with trade management.
Copy the file into the Experts folder via File, Open Data Folder, MQL4, Experts. Restart MT4 or refresh the Navigator, drag the expert onto a chart, and enable algorithmic trading. Make sure the Auto trading button is on.
No. Trading carries risk, and backtest or signal results do not predict future performance. Test on a demo account first and only risk money you can afford to lose.
EA Red Dragon
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