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Dragon Expert 4.1 EA

An MT4 expert advisor that opens baskets across three linked currency pairs using a correlation and averaging design; includes martingale controls and session filters.

Expert AdvisorMT4Correlation basketMartingale/averagingSession filter

Dragon Expert 4.1 is an MT4 expert advisor that uses a triangular correlation method: it opens a basket of three mathematically linked pairs (for example EURUSD, USDJPY and EURJPY) when their relationship diverges, betting that the relationship will revert toward balance. The package here is the MT4 v4.1 build and includes a PDF install guide.

The EA combines distance-based averaging with a configurable Max Level Martingale, Level Risk and Target Equity, plus time filters. Trades are handled as a basket rather than single directional bets, so margin and sizing matter as much as entry signals. AutoFXRebate offers the download, the install PDF and Telegram help for setup questions.

Martingale and averaging risk. The EA can add positions as a losing basket grows. Run it on demo or a small cent account first, limit Max Level Martingale and size positions so your equity can survive extended trending moves.

Specifications

Tool type
Fully automated expert advisor trading correlated baskets
Platform
MetaTrader 4 (package here is MT4 v4.1)
Strategy
Triangular correlation / statistical arbitrage across three linked pairs
Risk controls
Distance per open, Max Level Martingale, Level Risk override, Target Equity
Recommended pairs
Triangular sets such as EURUSD, EURJPY, USDJPY; GBP and EUR baskets also listed
Timeframes
Any; correlation logic is not tied to a specific chart period
Minimum capital
$5,000 recommended; cent accounts accepted
Original list price
$1,497
At AutoFXRebate
Download, PDF install guide and Telegram support

How the triangular correlation strategy works

The EA watches three related currency pairs that are mathematically linked and opens a basket when their prices diverge from the normal relationship. This is statistical arbitrage: it bets on relationships returning to balance rather than predicting directional trends.

Because trades are placed as a basket, risk sits across multiple positions. Correlations can produce a series of small wins. When relationships break during major events, the whole basket can run against you and cause a sharp drawdown.

Risk and position sizing

Inputs include Distance for when to add another position, Max Level Martingale to cap averaging steps, Level Risk which can change TP behavior, and Target Equity to stop the EA when a balance target is reached. These controls let you set how aggressively the EA averages and when it stops trading.

Sizing to survive a sequence of added positions is essential. Run demos to record peak drawdowns and how many added levels occurred before you change Max Level Martingale and lot sizing.

Who this suits and what to weigh

This EA suits traders who understand basket trading and who can manage margin and drawdown actively. It is not suitable for very small accounts that cannot absorb multiple open legs or for traders who cannot tolerate sudden large drawdowns.

Run extended demo tests first. Use a low-spread ECN account and a VPS for live use. If you open a live account through AutoFXRebate you can arrange backcom on each lot.

Features

  • Triangular correlation basket trading across three linked pairs
  • Distance-based adding of positions with configurable Max Level Martingale
  • Level Risk override and Target Equity stop switch
  • Session time filter to limit trading to selected market hours
  • Virtual take profit option to reduce load on broker feed
  • Includes install PDFs for MT4

Performance

Results are not independently verified; test on a demo account first. On demo, record how often the EA adds levels, the worst floating drawdown during adds, and how long a basket typically takes to return to balance. Use those figures to size live positions and set Max Level Martingale.

Pros

  • Uses relationship-based entries instead of forecasting a single-pair direction
  • Configurable risk inputs let you limit averaging and stop the EA at a target equity
  • Works with multiple triangular pair sets so you can choose baskets you prefer
  • Available from AutoFXRebate with an install PDF and Telegram support

Cons

  • Averaging and martingale-style adds can cause large drawdowns or margin calls during strong trends
  • Requires significant margin relative to position sizing to survive multiple open legs
  • Past results do not guarantee future returns; test on a demo account first
  • No automatic updates provided through AutoFXRebate

Setup

  1. Download and unzip the Dragon Expert Advisor v4.1 package from AutoFXRebate and copy the Expert file into MQL4/Experts; follow the included How to install MT4 files.pdf
  2. Restart MetaTrader 4 so the EA appears in the Navigator and enable AutoTrading in the platform
  3. Attach the EA to a chart for one of the triangular sets such as EURUSD, EURJPY or USDJPY and begin with the default inputs but set Max Level Martingale low
  4. Run on a demo account for at least one month; log the deepest drawdown and how many averaging levels occurred for each basket
  5. For live use pick a low-spread ECN account and a reliable VPS so the EA's legs can fill closely in time, and consider opening the live account through AutoFXRebate to receive backcom
  6. Only increase Max Level Martingale or lot sizes after long, controlled demo testing and when your capital comfortably covers observed worst-case drawdowns

Verdict

Dragon Expert 4.1 implements triangular correlation basket trading with explicit averaging controls. It can suit traders who understand basket risk and who will size capital to survive multiple added legs.

Start on demo with conservative Max Level Martingale and strict sizing, follow the install PDF in the package, and download the MT4 build from AutoFXRebate. For installation or input help, contact the Telegram group.

Risk disclaimer

Forex and CFD trading involves significant risk and may not be suitable for all investors. Indicators, EAs and trading tools do not guarantee profits. Always apply proper risk management. AutoFXRebate did not build these tools and does not endorse any result they claim; test on demo before risking money.

Get Dragon Expert 4.1 EA free

The file lives in our Telegram channel, together with the setup guide. Nothing to fill in.

Open Telegram

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