About the Black Dragon Expert Advisor
The Black Dragon EA for MetaTrader 4 is a fully automated Forex trading robot designed to trade based on trend indicators.
It opens and closes trades when the trend indicator changes color, signaling a potential market movement.
This approach aims to capture profitable trades by following the prevailing market trend.
Free Download
Download the “EA Black Dragon_v8.ex4” expert advisor
Key Features
Trend Indicator-Based Trading
The EA utilizes a proprietary trend indicator to determine the market direction, executing trades when the indicator changes color, signaling a potential trend shift.
Fully Automated Trading
Once installed, the EA operates autonomously, opening and closing trades based on the predefined strategy, allowing traders to engage in the market without constant monitoring.
Customizable Parameters
Users can adjust settings such as lot size, risk percentage, stop loss, and take profit levels to align with their trading preferences and risk tolerance.
Multiple Timeframe Compatibility
The EA is compatible with various timeframes, providing flexibility to traders who prefer different trading styles and strategies.
Real-Time Market Analysis
By analyzing real-time market data, the EA ensures timely entries and exits, aiming to maximize potential profits while minimizing risks.
Performance Report
Find below the Black Dragon EA performance for the EUR/USD M15 chart (click on the picture for a full-size view).
Key Points
- The largest profit trade: $4907.46.
- The largest loss trade: -$4916.26.
- Total net profit: 117K
The Black Dragon EA has demonstrated strong performance in backtesting, with a profitability rate of 66.4% and a trading activity rate of 94.7%.
These results indicate a consistent ability to identify and capitalize on profitable trades.
Trading Chart
The picture below shows the Black Dragon EA attached to the EUR/USD M15 chart.
How the EA Works
- Monitors trend indicators to identify potential trade setups.
- Opens buy trades when the trend indicator changes to a bullish signal.
- Opens sell trades when the trend indicator changes to a bearish signal.
- Does not rely on traditional lagging indicators.
- Operates on multiple timeframes, with M5 and M30 recommended.
Download Now
Download the “EA Black Dragon_v8.ex4” EA
Parameters & Settings
- Lot Size: Adjust the initial trade size.
- Auto MM: Enable or disable automatic money management.
- Risk Percentage: Set the risk level per trade.
- Magic Number: Unique identifier for the EA’s trades.
- Stop Loss: Define the maximum acceptable loss per trade.
- Take Profit: Set the target profit level per trade.
Recommended Trading Setup
- Trading Instruments: Any low spread currency pair.
- Time Frames: M5 and M30 (works on any time frame).
- Minimum Account Balance: $50.
- Demo Account: Recommended for initial testing.
- Real Account: Suitable after thorough testing.
- Trading Platform: MetaTrader 4.
FAQ
1. What is the Black Dragon EA?
The Black Dragon EA is a fully automated Forex trading robot for MetaTrader 4 that trades based on trend indicators, opening trades when the indicator changes color.
2. Which currency pairs are supported?
The EA works best on any low spread currency pair, but can be tested on others as well.
3. What timeframes does it operate on?
The EA is optimized for M5 and M30 timeframes, but can function on any chart.
4. How do I manage risk with this EA?
Customize settings such as lot size, risk percentage, stop loss, and take profit levels to align with your risk tolerance.
5. Is the Black Dragon EA suitable for live trading?
Yes, after thorough testing on a demo account, the EA can be used for live trading.
Summary
The Black Dragon EA is a fully automated Forex robot for MetaTrader 4 designed to trade using trend indicator signals.
It identifies potential market movements and executes trades automatically when the trend shifts, allowing traders to capture short-term and medium-term opportunities without constant monitoring.
With adjustable settings for lot size, stop loss, take profit, and risk management, the EA can be tailored to fit different account sizes and trading styles.
Backtesting demonstrates consistent profitability and disciplined trade execution, making it an effective tool for both novice and experienced traders looking to automate their Forex strategies.
