Introduction

RED Karpet EA V1.68 MT4 is an automated trading system designed for MetaTrader 4 that focuses on capturing short- to medium-term market movements using a structured algorithmic approach. It aims to identify trading opportunities based on price action, trend behavior, and internal logic while managing trades automatically.

Key Features

Fully automated trade execution
Combines trend and price action logic
Built-in stop-loss and take-profit
Dynamic trade management
Multi-timeframe compatibility
Customizable risk and lot size settings
Works on multiple forex pairs

Recommended Settings

Timeframe: M15, M30, or H1
Currency Pairs: Major pairs (EURUSD, GBPUSD, USDJPY)
Lot Size: 0.01 for small accounts, adjust based on risk
Risk Level: Low to moderate recommended
Broker: Low spread, fast execution
VPS: Recommended for continuous operation

Backtest Result

Designed for steady performance rather than aggressive gains
Performance varies depending on market conditions
Better results typically seen in trending or stable markets

Advantages

Fully automated trading reduces manual effort
Built-in risk management features
Suitable for multiple trading styles
Saves time and removes emotional decisions
Customizable for different risk profiles

Disadvantages

No guarantee of consistent profits
Performance depends on market conditions
Requires VPS for stable operation
Needs proper configuration and monitoring
Possible drawdowns during unfavorable markets

Installation & Setup Guide

Download the EA file (.ex4)
Open MetaTrader 4
Go to File → Open Data Folder
Navigate to MQL4 → Experts
Paste the file into the Experts folder
Restart MT4
Open a chart (recommended pair and timeframe)
Attach the EA to the chart
Enable AutoTrading
Adjust settings as needed
Use VPS for uninterrupted operation.

Support & Disclaimer

Support

If you need help installing or configuring your EA, or face any kind of bug, feel free to reach out on:

WhatsApp: Click here

Telegram Group: Join our community

Disclaimer:

Forex and gold trading involve risk. Past performance doesn’t guarantee future results. Always test robots on demo before live trading and use proper risk management.