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EA Red Dragon is an MT5 expert advisor that places pending orders around support and resistance breakouts on forex pairs such as EURUSD, USDJPY and GBPUSD. It uses a stop loss on every trade and an adaptive trailing stop.
Get one message the moment it launches, with its price.
EA Red Dragon is an expert advisor for MetaTrader 5 that trades breakouts of key support and resistance levels. It works with pending orders, attaches a stop loss to each position and manages open trades with a trailing stop that can adapt to price behaviour.
The EA looks for important price levels and places pending orders near them, so a trade opens only if price actually breaks through. Each position carries a stop loss, which is set fairly tight, and a take profit. After entry, the trailing logic can move the stop as the trade moves into profit. There are six trailing modes, a breakeven function, and an option that closes or adjusts positions when slippage is larger than you allow.
An option also lets the EA use levels from previous weeks. A small information panel on the chart shows trading statistics collected by the EA.
The pairs named for this EA are EURUSD, USDJPY and GBPUSD, on M30 and H1. EURUSD and USDJPY are the usual first choices. Spreads matter a lot for short-term strategies, so use an ECN or similar account with tight spreads and 5-digit quotes.
The inputs cover order direction, magic number, slippage, spread limits, lot sizing, exits and time filters. Exact defaults can differ, so open the input tab and read each value rather than assuming.
| Setting group | Purpose |
|---|---|
| Magic and comment | Identify the EA's orders, especially when several EAs share an account |
| Slippage and custom slippage | Limit acceptable slippage and optionally close positions when it is exceeded |
| Max spread and spread pause | Stop orders when spread is high and pause trading for a set period |
| Lot, risk option and percentage | Use a fixed lot, or scale size with balance |
| Take profit and stop loss | Set exit distances in points |
| Trailing and breakeven | Choose trailing mode, step and breakeven trigger |
| Adaptive trailing | Adjust trailing sensitivity and time scale |
| Days and hours | Allow trading on chosen weekdays, set daily hours, broker GMT offset and Friday cut-off |
Even with a stop on every trade, losses can occur, and fast markets can cause slippage beyond your limits. Short-term strategies are sensitive to spread, execution speed and broker rules. Confirm that your broker permits scalping and very short holding times.
Trading carries risk and past results do not predict future ones. Test on a demo account first and only trade with money you can afford to lose.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (hedging account required) |
| 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 |
| Strategy | Support and resistance breakout, short holding times |
| Tested pairs | EURUSD, USDJPY, GBPUSD |
| Timeframes | M30 and H1 |
| Order type | Pending orders with stop loss |
| Account type | ECN or low-spread, 5-digit quotes, hedging |
| Other requirements | VPS advised; broker must allow scalping |
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No. It is built for hedging accounts on MetaTrader 5. Before buying, confirm in your broker's account details that the account mode is hedging. If it is netting, the EA will not behave as designed.
The pairs listed for it are EURUSD, USDJPY and GBPUSD on M30 and H1. EURUSD and USDJPY are the usual starting points. Run your own tests on your broker's data before trading live.
This listing is for the MT5 build only. A separate MT4 edition exists for a different platform, so check you have the right one for your terminal.
Load it on a demo account first. Set a unique magic number, choose a fixed lot or the risk option, set a maximum spread, and review the trading hours and weekday filters. Compare demo behaviour with your expectations before using real funds.
The author recommends an ECN broker with low spreads and commission, leverage of 1:100 or higher, and a deposit of at least 100 USD. Treat these as guidance only and check your broker's rules on scalping and minimum holding times.
Yes, but give each EA on the same account a different magic number so the orders do not get mixed up.
EA Red Dragon MT5
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