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The Bitcoin Reaper is a MetaTrader 5 expert advisor that trades breakouts of support and resistance levels on Bitcoin using the H1 chart. It runs several strategies from one chart and sets risk from a single maximum drawdown input.
Get one message the moment it launches, with its price.
The Bitcoin Reaper is an expert advisor for MetaTrader 5 that trades breakouts of support and resistance levels on Bitcoin. It is built for the H1 chart and combines several strategies in a single EA, so you attach it once and control the overall risk with one drawdown setting.
The core idea is simple. The EA looks for important price levels where the market has previously turned, then places pending orders to enter if price breaks through them. Each trade carries a stop loss and a take profit, and trailing functions can move the exits as the trade develops.
Because Bitcoin has traded across very different price ranges, the EA is designed to scale its entry and exit distances to the current price rather than use fixed values. This is meant to reduce the need for frequent re-optimisation, though you should still review behaviour regularly.
The EA contains ten strategy variants. Rather than running each on its own chart, they all operate from one H1 chart. A trade frequency setting selects which of them are active, and an automatic option is available if you are unsure.
A broker with a low spread on Bitcoin is important for a breakout system, because wide spreads affect both entries and stops.
The inputs are grouped by purpose. Check the input tab after loading the EA, because defaults and available options can differ between releases.
| Input group | Purpose |
|---|---|
| Max allowed total drawdown | Main risk control, used to choose strategies and size risk |
| Allow buy / sell trades | Enable or disable each direction |
| Maximum allowed spread | Limits the spread at which pending orders are placed |
| Trade frequency | Selects which strategies run; an automatic option exists |
| SL/TP after entry, virtual expiration | Workarounds for brokers that reject stops or expiry on pending orders |
| Magic number and comment | Identify the EA's trades in your account |
| AutoGMT and manual GMT offsets | Align the EA with broker time for news handling |
| NFP filter | Optionally closes trades and deletes pending orders before non-farm payrolls |
| Info panel options | Show the on-chart panel and adjust its size for high-resolution screens |
Breakout systems can suffer a series of false breaks, and Bitcoin can move sharply and gap past stop levels. Slippage and spread widening can make real fills worse than tested ones. Use a demo account first, and size your account so that the drawdown you select is one you can accept.
Trading carries risk, and you can lose some or all of your capital. Past results, including backtests and signal histories, do not predict future ones. Nothing here is financial advice.
Before using it live, confirm your broker's minimum balance, leverage and contract specifications for Bitcoin, and run the EA on a demo account to check that orders are accepted.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 |
| Strategy focus | Gold or XAUUSD, Signals, Support and resistance, Breakout |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor |
| Market | Bitcoin (BTCUSD or the equivalent symbol at your broker) |
| Timeframe | H1 |
| Trade style | Breakout, pending orders, trailing exits |
| Charts needed | One chart for all strategies |
| Suggested account | Low-spread broker; check balance and leverage guidance |
| Extra setup | Allowed URL needed for automatic GMT detection |
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No. This listing is the MetaTrader 5 build. It will not run on MT4, so make sure your broker offers an MT5 account before you buy.
Attach it to a Bitcoin chart on the H1 timeframe. The symbol name varies by broker (for example BTCUSD with a suffix), so check the name in your Market Watch. All strategies run from that one chart.
The main control is the maximum allowed total drawdown input. The EA uses it to decide which strategies to run and how much risk each one takes. Start with a conservative figure and test on a demo account first. Preset files may be offered by the author, so check the product page or comments.
AutoGMT needs the time-server address to be listed under Tools, Options, Expert Advisors, in the allowed URLs for WebRequest. Without it, switch AutoGMT off and enter the winter and summer GMT offsets by hand. Manual offsets are also needed in the strategy tester.
Many users run EAs on funded accounts, but rules differ between firms. Read your firm's terms on automated trading, drawdown limits and news trading, and test the settings on a demo account before you rely on them.
Bitcoin symbols often have volume limits and spreads that vary by broker, and these can change tester results. You may need to adjust the maximum volume limits for the symbol in the tester. Results from testing do not predict live performance.
The Bitcoin Reaper
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