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BLACK DRAGON EA MT4 – Full Input Settings Analysis
BLACK DRAGON EA is an EURUSD and GBPUSD currency pair trading robot. It is applied using a specific set of trading guidelines and indicators, including the Black Dragon indicator, to execute trades based on its color signals. BLACK DRAGON EA is also offered with options for expanding the order network or utilizing stop loss management. BLACK DRAGON EA is compatible with any broker who uses the MetaTrader 4 platform.
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Basic parameters
- New Cycle: true – Starts a new trade cycle
- Trade Buy / Sell: true – Buy and sell trades allowed
- Manage Manual Orders: false – Unmanaged manual trades
- Initial Lot: 0.01 – Starting lot size
- Lot Multiplier: 1.5 – Martingale step increment multiplier
- AutoLot: false – Constant lot mode
- AutoLot Size: 1000 – Basal capital for lot calculation if it’s turned on
- Distance: 200 – 20 pip gap between trades
- Max Lot: 5.0 – Maximum allowed lot size
- Max Buy/Sell Orders: 10 – Max 10 orders per side
- Take Profit: 100 – TP of 10 pips (100 points)
- TP Option: Live Bar – TP on live candle
- Stop Loss: 0 – No SL (extremely risky)
- SL Option: Live Bar – SL on live candle
- Trail Start: 600 – Trailing starts at 60 pips profit
- Trail Distance: 100 – Trailing gap: 10 pips
- Close on Reverse Signal: false – Does not close on opposite signal
- Max Spread: 200 – Max allowed spread: 20 pips
Display Settings
- Show Buttons Close: true – Display close order button on chart
- Show Statistic: true – Show trading statistics
- Overlap Last Order: true – Allows overlapping last orders
- Overlap Last Order Number: 7 – Overlap up to 7 previous orders
- Overlap Percent: 1 – Allows 1% overlap
- Magic EA: 1111 – Special EA identifier (Magic Number)
Draw Result
- Draw On/Off: true – Draw live results on the chart
- Font Size: 15 – Font size
- Font Name: Arial – Font type
- Text Color: Black – Text color
- Background Color: Blue – Background color
- Ellipse Color: LightCoral – Ellipse background color
Key Takeaways
- Customizable Settings: Allow users to adjust parameters to fit their trading style.
- Market Monitoring Hours: Enables one to specify certain hours for monitoring the market.
- Risk Management: Offers parameters for effective risk management.
- Trade Modification: Allows the alteration of open trade positions.
- Minimum Lot Size: The minimum lot is 0.01.