Overview


Dragons Risk Shield EA V1.0 MT4 is a risk-centric automated trading system for MetaTrader 4. The EA’s core job is simple: protect capital first and let trades play out only when the conditions are aligned. It focuses on single-trade exposure (per symbol), uses a measured position-sizing engine (risk-percent model), and enforces daily/weekly loss halts. If you’ve been burned by martingale or grid blowups, this one’s a breath of fresh air.


Who it’s for



  • Prop firm challengers who must respect daily drawdown rules.

  • Retail traders who want structure and strong guardrails.

  • Cautious investors who value steady growth over lottery-ticket wins.


How it trades (high level)



  • Uses a trend-plus-volatility filter (e.g., EMA alignment and ATR thresholds) to pick a bias.

  • Enters on breakout or pullback confirmations; avoids random chops.

  • Applies fixed SL/TP measured in ATR and activates break-even + trailing when price moves in your favor.

  • Limits max open trades and blocks new entries after a defined daily loss cap or equity drawdown is hit.

  • Optional news/session filters to sit out chaotic windows.


Pairs & timeframe



  • Works well on EURUSD, GBPUSD, XAUUSD; start on M15–H1 for cleaner signal-to-noise.

  • Use a reliable ECN account and a VPS (latency < 50 ms) for consistent execution.


Key Features



  • No Martingale, No Grid — one position at a time per symbol; sizing via risk percent.

  • Equity Guard — hard equity stop in USD and/or %; protects the overall account.

  • Daily/Weekly Loss Halt — automatically pauses new trades after a configured loss threshold.

  • Risk-Percent Position Sizing — lot size derives from your chosen RiskPercent and actual stop distance.

  • ATR-Based SL/TP — volatility-aware risk so stops aren’t too tight in fast markets.

  • Break-Even & Trailing — lock gains once price moves your way; configurable activation points.

  • Session Filter — trade only during liquid sessions (e.g., London/NY overlap).

  • News Filter (optional) — skip high-impact events; reduce slippage traps.

  • Max Open Trades — global cap to prevent exposure stacking across pairs.

  • Pause-After-Loss — cool-off timer to avoid revenge trading logic.

  • Magic Number & Comment Tags — clean separation if you run multiple EAs.

  • FIFO/No-Hedge Mode — optional settings to align with prop/broker rules.

  • Lightweight & Stable — designed to be VPS-friendly and consistent.


How the Strategy Approaches Entries


Trend Filter



  • Looks for alignment of a fast and slow EMA (e.g., EMA 50 over EMA 200) to establish bias.

  • Counter-trend trades off limits by default; can be allowed with stricter risk if you really want (not advised).


Volatility Filter



  • Uses ATR to confirm there’s enough range to justify a trade.

  • If the market’s sleepy or insanely volatile, it steps aside.


Entry Models



  • Breakout: triggers on structure breaks with a clean impulse.

  • Pullback: joins the trend after a measured retracement and rejection.


Exit Logic



  • Hard SL/TP: always present and respected.

  • Break-Even: activates after X ATR in profit.

  • Trailing Stop: ratchets behind price; you choose step and distance.

  • Time-Based Exit (optional): close before session end to avoid overnight risk.


Recommended Settings (Good Starting Point)



  • RiskPercent: 0.5%–1.0% per trade (prop firms often prefer ≤0.5%)

  • MaxDailyLossPercent: 3%–4% (halts new entries when reached)

  • MaxWeeklyLossPercent: 7%–10% (optional additional guard)

  • EquityStopPercent: 15% (global equity guard)

  • MaxOpenTrades: 1 per symbol (start conservative)

  • ATRPeriod: 14 | SL_ATR: 1.8–2.5 | TP_RR: 1.5–2.0

  • BreakEvenTrigger: +1.0 ATR | BreakEvenOffset: +0.2 ATR

  • TrailingStart: +1.5 ATR | TrailingStep: 0.5 ATR

  • Session Filter: On (London+NY overlap)

  • News Filter: On (skip high-impact)

  • Symbols: Start with EURUSD; add XAUUSD once stable

  • Timeframe: M15 (or H1 if you prefer fewer signals)

  • Leverage: 1:100–1:500 (don’t let leverage tempt you into bigger risk)

  • VPS: Strongly recommended


Backtest Results & How to Test Properly


Instead of tossing out wild “% per month” claims, Dragons Risk Shield EA V1.0 MT4 encourages evidence-based testing:


How to run a meaningful backtest


Data quality: Use tick data with proper spreads/commission modeling.


5-year span (or more): Include bull, bear, and choppy phases.


Robustness checks:



  • Monte Carlo: randomize spread/slippage/order delay.

  • Walk-Forward: optimize on one period, validate on the next.


Key metrics to watch:



  • Max Drawdown (realistic) and underwater duration

  • Trade count (enough samples to matter)

  • Win rate × average R (expect realistic variance)

  • Stability (no single month driving the equity curve)



What a healthy equity curve looks like



  • Gradual stair-step with shallow dips, not vertical spikes.

  • DD under control (your settings drive this; risk small).

  • Low sensitivity to minor parameter changes (robustness).



How to Install & Configure (MT4)



  • Copy files: Place the EA file into MQL4/Experts inside your MT4 data folder.

  • Restart MT4: Or right-click “Expert Advisors” and choose Refresh.

  • Allow algo trading: Enable Algo Trading in MT4 top toolbar.

  • Attach to chart: Open EURUSD M15 (starter symbol/timeframe) and attach the EA.

  • Check common settings: Allow DLL imports if the news/session filters require it.

  • Input parameters: Set RiskPercent, SL/TP, ATR, Daily/Weekly Loss caps, Session and News filters.

  • Run on a VPS: Keep MT4 live 24/5 to avoid missed signals and reboots.


Risk Management Playbook (Use This Daily)



  • Never raise RiskPercent to “win it back.” Keep it constant.

  • Daily stop means stop. When the EA halts, you halt.

  • Diversify across pairs cautiously. Correlated pairs can double your risk.

  • Withdraw profits periodically. Protect gains outside the trading account.

  • Journal weekly. Note slippage during news, spread spikes, and broker quirks.


Prop-Firm & Broker Compliance



  • FIFO / No-Hedge Mode: Enable if your broker/firm requires it.

  • Avoid HFT-like configs: Over-tuned trailing or ultra-tight SLs can trigger slippage flags.

  • News trading: Many firms dislike event-spike exploitation — keep News Filter ON.

  • Lot sizing: Keep risk small (≤0.5% per trade) to respect daily DD limits.


Troubleshooting



  • “Trade disabled” or no entries? =>Session or news filter may be blocking. Check the Experts tab logs.

  • Frequent small losses? =>Widen SL via ATR or use H1 timeframe to reduce noise.

  • Large slippage on gold? =>Use a faster VPS, or switch to a lower-spread broker at liquid hours.


FAQs


Is Dragons Risk Shield EA V1.0 MT4 a martingale or grid bot?
No. It’s strictly non-martingale and non-grid by design.


What’s the minimum deposit?
Start from $200–$300 for FX pairs with 0.5% risk; gold typically needs more margin.


Can it pass a prop challenge?
It’s designed to respect risk, which helps — but no EA can guarantee passing. Use conservative settings.


Do I need a VPS?
Strongly recommended for stability and execution speed.


Can I run multiple pairs?
Yes, but start with one pair, then scale cautiously; set MaxOpenTrades conservatively.


Support & Disclaimer


If you need help with installation, optimization, or settings hygiene, reach out to your usual channel/community. Remember: past performance is not indicative of future results. Always forward-test on demo first and never risk money you can’t afford to lose.


Call to Action


Want a safer, rules-first approach to automation? Set up Dragons Risk Shield EA V1.0 MT4 on demo today, run it through your routine, and feel the difference of capital-first trading. When you’re comfortable with the flow, go live with conservative risk — let the guardrails do their job while you focus on consistency.


Happy Trading