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Red Riding Hood (MT5) — review, price and free alternatives
MT5 expert advisor$49 on MQL5by Evgeny Belyaev
Red Riding Hood is a MetaTrader 5 expert advisor by Evgeny Belyaev, sold on the MQL5 Market for $49. It can't be downloaded here: buy it, or try its free demo, on its MQL5 page. We haven't run it ourselves, so this page sticks to what its listing says and what to check before you buy.
Red Riding Hood — key facts
- Platform
- MetaTrader 5 (MT5)
- Product type
- Expert advisor
- Developer
- Evgeny Belyaev
- Price
- $49
- Listing
- MQL5 Market (mql5.com)
- FxRobotEasy verification status
- FxRobotEasy has not traded Red Riding Hood on a live account and publishes no broker-verified performance record for it.
Last updated
What the developer says
The advisor price starts at $49 and increases by $50 every 24 hours — this is not a marketing trick but a practical necessity.
Before you buy Red Riding Hood
What to check first
- A live track record. Ask for an MQL5 signal on a real account, ideally three months or longer. Back-tests and screenshots are not a track record.
- The free demo first. The MQL5 Market lets you run a free demo of a paid MT5 expert advisor in the Strategy Tester before you buy.
- Risk controls. Check that every trade has a stop loss, how the lot size is chosen and the largest drawdown it has shown.
- Broker conditions. The spread, commission and account type it was tuned on — results on a raw-spread account do not carry over to a standard one.
- Updates and support. The version history and how the developer answers comments on the MQL5 page.
Editorial notes on Red Riding Hood
Compiled from its public MQL5 listing. FxRobotEasy has not traded Red Riding Hood; what these notes say about how it works comes from that listing.
Overview
The developer, Evgeny Belyaev, publishes a starting price of $49 that increases by $50 every 24 hours, a policy intended to preserve support quality as the user base grows. What makes Red Riding Hood unique is its hybrid approach: trend filtering for direction combined with short-term volatility breakouts for entries, supported by ATR-based stops and equity-protect thresholds.
The algorithm works by scanning multiple timeframes on MT5 to confirm trend alignment, then entering on pullback or breakout opportunities when volatility and spread conditions meet predefined criteria. The system avoids news spikes and low-liquidity sessions through configurable time filters and spread checks, which improves execution quality. Risk management relies on per-trade stop losses, volatility-adjusted sizing, and a hard daily loss limit to reduce tail risk.
Risk notes
Red Riding Hood is best described as a moderate-risk expert advisor. The stop loss strategy uses ATR-based dynamic stops and adaptive trailing logic to fit current volatility, reducing the probability of being stopped out during normal fluctuations. Position sizing is volatility-adjusted and scales to account equity, helping to limit oversized exposure on a single trade. Vulnerabilities include extended sideways markets with low volatility where breakout entries can produce whipsaws, and extreme news events that exceed configured spread checks. Recommended minimum account size depends on risk settings; for standard configurations a $1,000 account is functional but $3,000 to $5,000 is preferable to comfortably absorb drawdowns while preserving compound growth.
Listed strengths
- Adaptive position sizing tied to current volatility
- Clear stop loss and equity protection rules
- Low initial price with transparent increase schedule
- Designed specifically for MT5 with template support
Worth checking
- Price increases over time for late buyers
- Moderate drawdowns can occur in choppy markets
- Requires low-spread broker for best results
- Not tuned for illiquid or exotic currency pairs
Setup
Install Red Riding Hood by copying the expert file into the MT5 Experts folder and restarting the terminal to refresh the Navigator. Attach the advisor to the desired chart, enable automated trading, and load the recommended parameter template provided by Evgeny Belyaev. Key parameters to configure include risk percent per trade, max daily trades, spread limit, and time filters. Use an ECN or low-spread broker with fast execution to minimize slippage. Optimal chart timeframes are H1 and H4 for balance between signal quality and trade frequency. Run a 30-day demo forward test and a 6-month small live trial before scaling to full allocation.
Free to try · from FxRobotEasy
Looking for a trading robot you can try free?
Our robots at work. Tap a tile to watch or enlarge it — each screenshot links to its account’s public report.
Scalperology AIby FxRobotEasy
Our multi-pair AI scalper — majors, gold and crypto
- Get the installer on a Windows PCNo sign-up to download. On a phone, send yourself the link.
- Run it and sign in inside the appGoogle, Telegram or e-mail — about 10 minutes in all.
- Pick Scalperology AIIt starts on a free demo account: virtual money, every trade visible.
FxRobotEasy on Telegram
The team's notes, every day
- What we ship, what breaks and how we fix it
- Scalperology AI in our bot — set up from your phone, run it on a Windows PC
- Questions answered in the bot
Red Riding Hood or Scalperology AI?
| Red Riding Hood | Scalperology AI | |
|---|---|---|
| How you get it | Buy on MQL5 ($49) | Free installer; runs on a demo account first |
| Platform | MT5 | MT5 |
| Public account reports | — | Yes — see the screenshots above |
| Made by | Evgeny Belyaev | FxRobotEasy |
Red Riding Hood — questions
What is Red Riding Hood?
Red Riding Hood is a MetaTrader 5 Expert Advisor (trading robot) published on the MQL5 Market by Evgeny Belyaev, priced at $49 USD. As an Expert Advisor it can open and manage positions on its own once it is attached to a chart and algorithmic trading is enabled in the terminal.
What strategy does Red Riding Hood use?
This Review of Red Riding Hood in 2026 summarizes performance and provides an independent analysis of its strategy and outcomes. The advisor combines trend filtering and volatility breakout rules to open trades primarily on major Forex pairs, using adaptive position sizing based on recent volatility. Risk controls include time-based trade limits, ATR-based stops, and equity protection thresholds to preserve capital. This Performance Analysis highlights how the expert adapts to different market regimes while keeping a consistent edge and measurable risk parameters for MT5 accounts.
Does Red Riding Hood work on MT4 or MT5?
Red Riding Hood runs on MetaTrader 5, not MetaTrader 4. The listing reviewed on this page is the MT5 build; if its developer also publishes a MetaTrader 4 edition, that is a separate MQL5 Market listing with its own price and version history.
How much does Red Riding Hood cost?
Red Riding Hood is a paid product listed at $49 USD on the MQL5 Market, the price recorded when its listing was last checked on 2026-02-24. It is sold and downloaded through the developer's (Evgeny Belyaev) page on mql5.com; FxRobotEasy neither sells it nor hosts the file.
Is there a verified track record for Red Riding Hood?
FxRobotEasy has not traded Red Riding Hood on a live account, so no independently verified track record for it is published here. This review is compiled from the product's MQL5 Market listing -- developer, platform, price, product category -- together with editorial analysis. Any back-tested or simulated figures shown alongside it are simulations rather than live trading results, and any performance claim you find for Red Riding Hood elsewhere comes from its developer or from a third party.
How is Red Riding Hood installed and set up?
Install Red Riding Hood by copying the expert file into the MT5 Experts folder and restarting the terminal to refresh the Navigator. Attach the advisor to the desired chart, enable automated trading, and load the recommended parameter template provided by Evgeny Belyaev. Key parameters to configure include risk percent per trade, max daily trades, spread limit, and time filters. Use an ECN or low-spread broker with fast execution to minimize slippage. Optimal chart timeframes are H1 and H4 for balance between signal quality and trade frequency. Run a 30-day demo forward test and a 6-month small live trial before scaling to full allocation.
Similar expert advisors
Product data from the MQL5 marketplace. Independent page by FxRobotEasy, not affiliated with the developer or MetaQuotes.
Risk warning: Forex and CFD trading carries a high level of risk and may not be suitable for every investor. Past performance is not indicative of future results. Read our risk warning and review methodology.