The Gold Reaper MT5

Welcome to Gold Reaper!

Built on the successful Goldtrade Pro, this EA is designed to run on multiple timeframes simultaneously, with adjustable trade frequency ranging from very conservative to extremely active.

The EA uses multiple confirmation algorithms to identify entry prices and runs several internal strategies to spread trading risk.

All trades have a stop loss and take profit. The EA also uses a trailing stop loss and trailing take profit to manage risk and capture potential gains from each trade.

The system trades breakouts of important support and resistance levels, a strategy suited to the volatile nature of gold.

The system automatically adjusts trade frequency and lot size based on your account size and maximum allowed drawdown setting.

Key Features

• Simple setup: Attach the EA to a chart and set your preferred maximum allowed drawdown. The EA automatically determines trade frequency and lot size.
• No grid or martingale.
• Historical backtesting support for XAUUSD.
• Configurable settings for prop firm trading requirements.
• Minimum account balance: $600.

Backtesting

Run the EA on XAUUSD using the default settings, or adjust the maximum allowed drawdown to your preference. You can also change trade frequency manually to compare results. The chart timeframe does not affect backtesting setup.

Setup

Attach the EA to XAUUSD and set your preferred maximum allowed drawdown. Trade frequency is automatic by default, but you can configure it manually.

• Symbol: XAUUSD
• Recommended chart timeframe: H1

Parameters

• ShowInfoPanel: Displays the information panel on the chart.
• Adjustment for Infopanel size: Adjusts the panel size. For a 4K display, set this value to 2.
• update infopanel during testing: Enables panel updates during testing. Disable it for faster backtesting.
• Trade Frequency: Selects a trading frequency ranging from very conservative to extremely active. The default auto setting uses the account balance and maximum allowed drawdown to determine frequency. When using StartLots for fixed lot sizing, you must also set trade frequency manually.
• Maximum allowed spread: Sets the maximum spread at which pending orders are permitted.
• Friday Stop Hour: Sets the Friday cutoff hour to help avoid holding trades over the weekend. Use a value from 0 to 23. A value of 25 disables this setting.
• SetSL_TP_After_Entry: Enable only if your broker does not allow pending orders with a stop loss and take profit attached.
• Use Virtual Expiration: Enable only if your broker does not allow pending orders with an expiration date.
• Randomization: Slightly varies entries, exits, and trailing stop values so that users on the same broker can have different trades. The suggested value is 50.
• BaseMagicNumber: Sets the base magic number used for all strategies.
• Comment for trades: Sets the comment attached to trades.
• Lotsize Calculation Method: Selects how lot size is calculated, such as fixed lot sizing using StartLots or sizing based on Max Allowed Total Drawdown.
• Startlots: Sets the fixed lot size when that calculation method is selected. For other lot size calculation methods, this value acts as the minimum lot size.
• Max Allowed Drawdown: Sets the preferred maximum total drawdown percentage. The EA uses its historical maximum drawdown to calculate lot size.
• Set Max Daily Drawdown: Sets the maximum daily drawdown percentage. When reached, the EA closes all trades, deletes pending orders, and pauses until the next day.
• Use Equity instead of Balance: Uses account equity instead of balance to calculate lot sizes.
• OnlyUp: Prevents lot size from decreasing after losses, making sizing more aggressive.
• EnableNFP_Filter: Turns the Nonfarm Payrolls (NFP) filter on or off.
• AutoGMT: Automatically calculates your broker's GMT offset to determine the correct NFP event time.
• GMT_OFFSET_Winter: Sets the winter GMT offset manually when AutoGMT is disabled or during backtesting.
• GMT_OFFSET_Summer: Sets the summer GMT offset manually when AutoGMT is disabled or during backtesting.
• NFP_CloseOpenTrades: Closes open trades before NFP, using the lead time set in NFP_MinutesBefore.
• NFP_ClosePendingOrders: Deletes pending orders before NFP, using the lead time set in NFP_MinutesBefore.
• NFP_MinutesBefore: Sets how many minutes before NFP the EA closes trades and deletes pending orders when the corresponding options are enabled.
• NFP_MinutesAfter: Sets how many minutes after NFP the EA waits before resuming trading.