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Emerald Dragon is an MT4 expert advisor that looks for trending moves, mainly on EURUSD and USDJPY on the one-hour chart. It sizes stops from ATR and offers fixed or risk-based lot sizing, a spread filter and a trading-hours window.
Get one message the moment it launches, with its price.
Emerald Dragon is an expert advisor for MetaTrader 4 that trades in the direction of developing trends. It places its own orders, sets stop and target levels from market volatility, and lets you choose between fixed and risk-based position sizes.
The EA analyses price history with statistical calculations and the Average True Range (ATR) to decide when to enter. Stop loss distance is based on a multiple of ATR measured from the recent low or high, and the take profit is set as a multiple of that stop distance. This keeps the reward-to-risk relationship consistent from trade to trade.
The developer states that the EA keeps no more than two active trades per currency pair. The store tags it with both trend and grid, so confirm in the Strategy Tester how many positions it holds at once and how it behaves when price moves against an open trade.
The suggested setup is the H1 chart on EURUSD and USDJPY, two pairs that often move in sustained directions. Other major pairs may be possible, but they need their own testing. A trend-following approach can struggle in sideways markets, so expect periods of weaker performance.
The inputs below are the ones described for this EA. Check the defaults in the input window after you attach it, because they can differ between builds.
| Input | Purpose |
|---|---|
| Lots | Fixed lot size; set to 0 to use automatic lots |
| Risk_Percent | Share of balance risked per trade when automatic lots are used |
| Mode | Long only, short only or automatic direction |
| TP_Multiplier | Take profit as a multiple of the stop distance |
| SL_ATR | ATR multiple used to place the stop loss |
| UseTrailingStop | Turns the trailing stop on or off |
| UseBreakeven | Turns breakeven handling on or off |
| AcceptableSpreadPts | Maximum spread in points before trading pauses |
| Trade_Start_Hour | Hour at which new trades may begin |
| Trade_End_Hour | Hour after which no new trades are placed |
| Magic | Unique number used to identify the EA's trades |
Trading carries risk and you can lose part or all of your capital. Past results, including backtests, do not predict future ones. Test on a demo account first, then move to a small live account if you decide to continue.
Before relying on it, check your broker's spreads, execution speed and minimum lot size, and consider running the EA on a VPS so it stays connected.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 |
| Strategy focus | Trend, Grid |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Strategy tags | Trend, grid |
| Suggested markets | EURUSD and USDJPY; other trending major pairs after testing |
| Suggested timeframe | H1 (one hour) |
| Direction control | Long only, short only or automatic |
| Lot sizing | Fixed lots or automatic lots from risk percent |
| Requirements | MT4 terminal with algo trading enabled; VPS suggested |
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No. This download is an MT4 expert advisor and will not load on MetaTrader 5. If you trade on MT5, look for a product listed for that platform instead.
The developer points to the H1 chart on EURUSD and USDJPY, since those pairs tend to trend. Other pairs may behave differently, so test them in the Strategy Tester and on a demo account before using real money.
In MT4 choose File, then Open Data Folder, open MQL4 and then Experts, and copy the file there. Restart MT4 or refresh the Navigator, drag the EA onto an H1 chart and make sure the Algo Trading button is on and live trading is allowed in the EA properties.
If Lots is set to a value above zero, the EA uses that fixed size. If Lots is set to zero, it calculates the size from Risk_Percent and the stop distance. Check how your broker rounds lot sizes and what its minimum is.
The developer describes a cap of two active trades per currency pair. Because the store tags also include grid, check the open-position behaviour yourself in the Strategy Tester and on a demo account before going live.
Treat any backtest with caution. Results depend on data quality, spread, commission and broker conditions, and past results do not predict future ones. Run your own tests with your broker's data.
Emerald Dragon
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