Red Dragons EA
- Experts
- Irina Cherkashina
- Versão: 1.56
- Ativações: 5
Universal expert RED DRAGONS carries out deep market analysis using our proprietary indicator, which increases the accuracy of entering and exiting positions, and several existing profitable strategies based on the Locking and Martingale methods, optimized within one strategy, including for fully automatic conservative trading, both with one and several trading instruments at the same time.
Red Dragons's ability to work simultaneously on several trading instruments within one trading account ensures diversification of the trading portfolio and expands the possibilities for making a profit. At the same time, Golden Dragons has the maximum possibility of individual settings, which allows you to customize the expert for your own trading strategies for trading any one or several trading instruments on any timeframes, taking into account the individual wishes of the trader.
You can purchase this Expert Advisor for free through our affiliate program. For this, contact us.
ATTENTION! CAREFULLY STUDY THE OPERATING PRINCIPLE AND AVAILABLE SETTINGS OF THE EXPERT ADVISOR BEFORE YOU START USING IT!
This EA uses the Martingale method, so it is important to follow Money Management, for which it is recommended to use dollar accounts for deposits from $10,000, and for deposits below - cent accounts with a lot of 0.01 and 1:2000 or 1:1000.
The Expert Advisor encompasses the following functionalities (by default, all options in the settings are false):
• Time Control: Allows selection of operational periods.
• Timeframe and Lot Size: Specifies the current timeframe and initial lot size for trades.Multiplier:
• Defines the multiplier for subsequent orders.
• Open by Distance: Offers options for distance-based order opening, with associated risks.
• Take Profit: Sets Take Profit levels for remaining orders post-closure.
• Max Positions: Regulates the number of open orders in one direction.
• Max Lot: Limits lot sizes for further orders to manage drawdown.
RECOMMENDATION: Do all options <TRUE>
Other settings:
• Show information on all symbols
• Magic Number - If you work with several instruments simultaneously on one terminal, you need to specify different numbers for each instrument. Also, if the expert has already opened positions, then when changing the number, the expert will start working again, and new positions will not be compared with the previous ones.
• Font size - changing the font in the expert panel
Traders can establish two Drawdown Filters in percentage. These filters govern when the algorithm should automatically switch to higher timeframes, mirroring the functions of previously mentioned parameters.
Additionally, the chart indicates the breakeven level of all open orders as a yellow line, providing crucial insights.
This advisor employs a universal panel displaying essential information for traders, including:
• Ticker of the traded instrument.Count of open BUY and SELL orders.
• Current unrealized drawdown or profit, color-coded for clarity.
• Fixed profit amounts for the current day, week, and month.
• Buttons for manually closing all open BUY or SELL orders as desired.
For conservative, fully automated trading, it is recommended trading of 15-25 trading instruments on the H4 or D1 and use the following settings for 500$ (recommended to use, for example, cent accounts with a leverage of 1:2000):
• Time Control: both false.
• Min Points to Level: true, 100 (200-300)
• Lot Size: 0.05
• Multiplier 1.5 (1.2 - 1.8)
• Open by Distance: false or true and set a distance greater than the maximum distance between levels on this time frame for cases when the price is at record highs or lows, and support and resistance levels are not defined.
• Open after TP: true
• Take Profit: 200-300
• Max Positions by side: true and 5-8
• Max Lot: true and 5-7
• Drawdown filter 2: true
• Max DD for TT2 in %: 10-15%
• TimeFrame 2: 1 Day
• Open by Distance: false or true and set a distance greater than the maximum distance between levels on this time frame for cases when the price is at record highs or lows, and support and resistance levels are not defined.
• Open after TP: true
• Take Profit: 100-300
• Max positions by side: true and 8-12
• Max Lot: true and 7-10
• Drawdown filter 3: true
• Max DD for TT3 in %: 15-25%
• TimeFrame 3: 1 Week
• Open by Distance: false or true and set a distance greater than the maximum distance between levels on this time frame for cases when the price is at record highs or lows, and support and resistance levels are not defined.
• Open after TP: true
• Take Profit: 100-300
• Max positions by side: true and 12-15
• Max Lot: true and 10-15
When the expert advisor is activated, the chart displays support and resistance levels for the timeframe used, which are calculated using a unique algorithm of our proprietary indicator, and the first two orders are opened immediately for BUY and SELL, and Take Profits for them are set at the nearest support and resistance levels. Limit pending orders will also be set at the nearest support and resistance levels in accordance with the multiplier set in the settings. No matter where the price moves after opening the first two orders, the trader will still make a profit from one of them, which will close at Take Profit at the nearest support or resistance level, where a limit pending order will also be opened for the remaining minus order. Next, the orders are averaged and opened at subsequent support or resistance levels. In this case, the minus grid is usually closed with a set profit through 2-5 averaging orders. After that, two orders are opened again in BUY and SELL and work is carried out according to a similar scenario. With this strategy, you can simultaneously trade several trading instruments. It is recommended to use this expert on the Forex market. Very good results for the above-described strategy with fully automatic operation of the expert were recorded when simultaneously trading all currency pairs available for trading, however, it is still recommended to avoid trading on instruments with low volatility on timeframes from H4 and higher, or trade on them with orders with lots lower than others, and also use filters in the settings that control certain traders independently his individual parameters for risk management, which regulate the number and total volume of lots of opened orders, as well as the level of deposit drawdown in percent, at which the expert algorithm automatically switches to the conditions for these timeframes. When working on the initial timeframe H4 - D1 and W1. Using these filters allows you to very successfully control the deposit drawdown in a fully automatic mode.
When a drawdown for Filter 1 is reached, all trading instruments automatically switch to the conditions for Filter 1 and also for Filter 2. Usually, only a few instruments affect this. In this case, you can set the % for Filter 2 higher than recommended for everyone at the very beginning, or change it after a drawdown has occurred for those instruments where the price is in a flat (this is recommended so as not to lose profit while waiting for the price for some instruments to take the deposit into this drawdown, where the price can be from 1 to 3 months).
