Name: The Gold Reaper MT4 V2.1
SKU: 3838
Price: 19.00 USD
Availability: InStock

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New V2.2 Live Signal

Old Live Signal

Welcome to the Gold Reaper!

Build on the very succesfull Goldtrade Pro, this EA has been designed to run on multiple timeframes at the same time, and has the option to set the trade frequency from very conservative to extreme volatile.

The EA uses multiple confirmation algorithms to find the best entry price and runs multiple strategies internally to spread the risk of the trades.

All trades have a stoploss and takeprofit, but also use a trailing stoploss and trailing takeprofit to minimize the risk, and maximize the potential of each trade.

The system is build on the very popular and proven strategy: trading breakouts of important support and resistance levels.

Gold is very suitable for this strategy, as it is a highly volatile pair.

The system auto adapts the trade frequency and lotsize based on your accountsize and your max allowed drawdown setting!

Backtests show a very stable growth curve, with very controlled drawdowns and fast recoveries.

This EA has been stress tested for the longest available period for Gold, using multiple pricefeeds for various brokers, and nothing seems to be able to make it fail.

No “neural network/machine learning AI/ChatGPT/Quantum computer/perfect straight line backtests” sales-talk, but a real and honest trading system, based on proven methodology for development and live execution.

As a developer, I have +15 years of experience in creating automated trading systems. I know what has the potential to work and what has not. I create honest systems, with the highest probability of trading like the backtests without cheating.

NOTE TO GOLD TRADE PRO USERS:

Even though both EA’s run similar strategies on Gold, the correlation between the two is actually very low.

Running both EA’s together even shows a much stronger growth and this while the maximum drawdown stays about the same or even goes down in some setups! (see screenshot)

For guidance regarding setup of running both together, please contact me in private message.

Key Features:

Very easy to use: install on chart, and set your prefered maximum allowed drawdown. The EA will determine trade frequency and lotsize fully automatic
No grid/No Martingale/No risky risk management
good results over the full historical data for XAUUSD
Easy to use for Prop Firms
Minimum account balance: 300$

Backtesting:

Simply run on XAUUSD using default settings, or change the max allowed drawdown to your preference. You can also change the trade frequency manually to see the different results

Timeframe of the chart doesn’t matter.

Setup:

Run on XAUUSD and set your trade frequency (automatic by default), and your prefered max allowed drawdown.

Or set the trade frequency manually to your preference

Timeframe of the chart doesn’t matter.

Parameters:

ShowInfoPanel -> display the information panel on the chart
Adjustment for Infopanel size -> in case of 4K display, set value to “2”
update infopanel during testing -> disabled for faster backtesting
Trade Frequency: allows you to use different setups from the EA, going from very conservative trading frequency to extreme trading frequency. By default, it is set to “auto”, which means it will use the account balance, and the Max Allowed Drawdown to determine the trade frequency. When using “StartLots”, you MUST set the trade frequency also manually!
Maximum allowed spread: maximum spread for pending orders to be allowed
Friday Stop Hour -> if you don’t want trades to be hold over the weekend, set a value between 0 and 23. (25 means “disabled)
SetSL_TP_After_Entry -> enable only if your broker doesn’t allow pending orders with SL and TP
Use Virtual Expiration -> enable only if your broker doesn’t allow pending order with expiration date
Randomization -> this will randomize the entries, exits and TrailingSL values a bit, so that multiple users on the same broker, will have a bit different trades. Also good for prop firms. Good value is “50”
BaseMagicNumber -> the base magicnumber that will be used for all strategies
Comment for trades -> the comment to be used for the trades
Lotsize Calculation Method -> here you determine how the lotsize should be calculated: Fixed lotsize (Use StartLots), Or use the “Max Allowed Total Drawdown
Startlots -> set the value for fixed lotsize, when that option is chosen. This parameter will be used as “minimum lotsize” when using any of the other 2 options for lotsize calculation
Max Allowed Drawdown -> The prefered maximum allowed total drawdown (in %). The EA will then determine lotsize based on the historical max DD of the EA
Set Max Daily Drawdown -> Here you can set a maximum allowed daily drawdown (in %). If it is reached, the EA would close all trades and pending orders, and wait for the next day. This is usefull for prop firms
Use Equity instead of Balance -> use Equity of the account to calculate all lotsize values
OnlyUp -> this will prevent lotsize to decrease after losses (more aggressive but faster recovery after losses)
EnableNFP_Filter -> turn the NFP filter on or off
AutoGMT -> let the EA calculate the correct GMT offset for your broker, so that the time of NFP will be correct
GMT_OFFSET_Winter -> for setting the GMT Offset manually in the wintertime (when AutoGMT is off, or during backtesting!)
GMT_OFFSET_Summer -> for setting the GMT Offset manually in the summertime (when AutoGMT is off, or during backtesting!)
NFP_CloseOpenTrades -> force the EA to close all open trades when NFP starts (X minutes before NFP)
NFP_ClosePendingOrders -> force the EA to delete all pending orders when NFP starts (X minutes before NFP)
NFP_MinutesBefore -> how many minutes before the NFP event, to close trades and pending orders
NFP_MinutesAfter -> how many minutes after the NFP event, before the EA resumes trading again

IMPORTANT: For AUTO_GMT TO WORK -> you must add the URL “https : // www . worldtimeserver.com/” (remove spaces!!) to the “allowed URL’s” in your MT4/MT5 terminal (tools -> options -> expert advisors)