The Gold Reaper EA V1.50 MT4 + SETS Unlimited Latest Build (1240+)

Gold Reaper is an advanced Expert Advisor (EA) built upon the success of Goldtrade Pro. This EA is designed to operate across multiple timeframes simultaneously, providing a range of trade frequency settings from conservative to highly volatile.

Using multiple confirmation algorithms to identify optimal entry points, Gold Reaper executes various internal strategies to diversify trade risks. Each trade is equipped with stop-loss and take-profit measures, complemented by trailing stop-loss and take-profit features to manage risk and maximize trade potential.

The strategy is based on trading breakouts at significant support and resistance levels, with gold being an ideal candidate due to its inherent volatility. The system dynamically adjusts trade frequency and lot size based on your account size and maximum allowable drawdown.

Backtests demonstrate consistent and stable growth trajectories with well-managed drawdowns and swift recoveries. Extensively stress-tested over the longest available period for gold, the EA has proven resilient against various market conditions.

Unlike other EAs that make hyperbolic claims about advanced technologies, Gold Reaper offers genuine and transparent trading rooted in proven development methodologies and live execution.

NOTE TO GOLD TRADE PRO USERS:

While Gold Reaper employs similar strategies to Goldtrade Pro, the correlation between the two EAs is remarkably low. Concurrent operation of both EAs can enhance growth while maintaining or even reducing maximum drawdowns in certain setups. For guidance on setting up both EAs simultaneously, please contact me via private message.

Key Features:

- User-friendly: Simply install on a chart and set your preferred maximum allowable drawdown. The EA autonomously determines trade frequency and lot size.
- No grid, Martingale, or risky risk management strategies employed.
- Consistently positive results over the entire historical data for XAUUSD.
- Suitable for Prop Firms.
- Minimum account balance: $300.

Backtesting:

- Execute on XAUUSD using default settings or customize the maximum allowable drawdown to your preference.
- Optionally adjust trade frequency manually to observe different outcomes.
- Chart timeframe is inconsequential.

Setup:

- Run on XAUUSD and specify your trade frequency (default is automatic) and preferred maximum allowable drawdown.
- Alternatively, manually set the trade frequency to your preference.

Parameters:

- ShowInfoPanel: display the information panel on the chart.
- Adjustment for InfoPanel size: set value to "2" for 4K display.
- Trade Frequency: allows for different trading setups.
- Maximum allowed spread: maximum spread for pending orders.
- Friday Stop Hour: set a value between 0 and 23 to avoid weekend trades.
- SetSL_TP_After_Entry: enable if broker doesn't allow pending orders with SL and TP.
- Use Virtual Expiration: enable if broker doesn't allow pending order with expiration date.
- Randomization: randomizes entries, exits, and TrailingSL values for multiple users.
- BaseMagicNumber: base magic number for all strategies.
- Comment for trades: comment to be used for trades.
- Lotsize Calculation Method: determines lotsize calculation method.
- Startlots: fixed lotsize value when using fixed lotsize calculation method.
- Max Allowed Drawdown: preferred maximum allowed total drawdown (in %).
- Set Max Daily Drawdown: sets maximum allowed daily drawdown (in %).
- Use Equity instead of Balance: use Equity of the account to calculate all lotsize values.
- OnlyUp: prevents lotsize from decreasing after losses.