Red Dragon MT5

Red Dragon Scalper - Professional MT5 EA

Red Dragon Scalper is a fully automated Expert Advisor designed for the MT5 platform. Its focus is on high-frequency scalping, aiming to capture small, rapid profits from market volatility.

Discounted price .  The price will increase by $90 with every 10 purchases. Final price $4999

Core Strategy

Strategy in Action: A Hypothetical Example

To understand the logic, consider this scenario:

1. The EA monitors XAUUSD on the M5 timeframe.

2. It identifies a period of high volatility where the price is approaching a known short-term support level.

3. Instead of trading immediately, its internal indicators wait for a price action confirmation (such as a clear rejection from the support level).

4. Once confirmed, it may enter a BUY position.

5. A tight Stop Loss is automatically placed just below the support, and the Take Profit is set at the next identified micro-resistance level, targeting a quick, pre-defined gain.

This example illustrates the EA's focus on confirmed, high-probability setups rather than random entries.

Key Features

• Fully Automated Trading: The EA operates 24/5 without manual intervention.

• Integrated Risk Management: Every trade is protected with a pre-defined Stop Loss (SL) and Take Profit (TP). This is essential for capital management.

• Multi-Pair Scanning: The EA can simultaneously scan for opportunities across multiple currency pairs.

• Customizable Settings: Essential input parameters (like Lot Size, SL/TP) can be easily adjusted by the user.

Input Parameters (Key Settings)

• FixedLot: Sets a fixed lot size for all trades.

• AutoLot: If set to true , the EA calculates the lot size based on account balance.

• RiskPercent: If AutoLot is true , this is the risk percentage per trade.

• StopLoss_Pips: The Stop Loss in pips for each trade.

• TakeProfit_Pips: The Take Profit in pips for each trade.

• MagicNumber: A unique ID to identify the EA's trades.

• MaxSpread_Pips: The maximum allowed spread to prevent trade entry in poor conditions.

Recommendations for Use

• Broker: For optimal performance, use a true ECN broker with low spreads and fast execution.

• VPS (Virtual Private Server): A VPS is essential to ensure 24/7 operation and zero downtime.

• Timeframe: The algorithm is optimized for the M5 (5-Minute) and M15 (15-Minute) timeframes.

• Pairs: Primarily tested on XAUUSD (Gold). It can also be applied to GBPUSD and EURUSD.

• Testing: Before using on a live account, test the EA on a demo account for at least 2-4 weeks to understand its performance.

RISK DISCLAIMER

Trading Foreign Exchange (Forex) and Contracts for Difference (CFDs) is highly speculative, carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.

Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite. There is always a possibility that you could sustain a loss of some or all of your initial investment. Therefore, you should not invest money that you cannot afford to lose.

Past performance is not indicative of future results. You are solely responsible for any profit or loss resulting from the use of this software.