📊 What is The Gold Reaper MT5?
The Gold Reaper MT5 is an Expert advisor (EA) designed for highly customized trading, combining nine adaptable strategies to balance profitability and risk control. It features advanced automated risk management, NFP protection, and multiple features making it a prop firm-ready solution for trading gold.
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🔑 General Settings
- UseVariableValues / AdjustLotSizeToVariableValues: Enabled to auto-adjust position sizes dynamically depending on account balance and risk.
- Max Allowed Spread (50.0): Ensures trades are only executed in acceptable market conditions, filtering out volatile spikes.
- Trailing Stop & Hidden SL/TP Options: Active trailing stop and hidden SL/TP increase profit-locking while protecting against broker manipulation.
⚔️ Trade Management
- Buy & Sell Trades: Both directions are allowed, giving flexibility to capture trends and reversals.
- Trade Frequency: Set to Auto (balance and risk-based) for adaptive scaling of entries.
- Breakout Filter: Medium sensitivity applied to avoid false breakouts while still catching momentum-driven moves.
- Max MagicNumber: 8000 allows running multiple strategies simultaneously without trade ID conflicts.
📊 Risk & Drawdown Control
- Max Allowed Total Drawdown (30%): Hard risk cap that protects the account from catastrophic losses.
- Max Risk per Strategy (1.0%): Conservative allocation ensuring each trade carries controlled risk exposure.
- Set Max Daily Drawdown (Prop Firms): Configured at 0.0 (disabled), but can be tailored for prop trading rules.
- LotSize Calculation Method: Based on drawdown, not balance, ensuring long-term capital preservation.
📅 News Filter (NFP Protection)
- NFP Filter Enabled: EA automatically avoids high-volatility periods around Non-Farm Payroll events.
- Close Trades Before/After NFP: Trades are closed 100 minutes before and 60 minutes after NFP to minimize risk exposure.
🎯 Prop Firm Friendly Features
- Unique Trade Adjustments (Entry, SL, TP): Fully adjustable for proprietary trading firm rules.
- Equity vs Balance Risking: Configurable, though default is based on balance for consistent exposure.
⚡ Strategies & Risk Profiles
- Manual Strategy Selection: Nine strategies are included, from low risk (1–3) to high risk (7–9).
- Auto Mode: Users are advised not to mix manual strategy selection with the max drawdown protection mode.
- Scalping + Swing Hybrid: Different strategies cater to short-term scalping and medium-term trend riding.
Conclusion
The Gold Reaper MT5 is a highly configurable trading EA built to combine profitability, adaptability, and prop firm compliance. With automated risk control, NFP protection, adjustable lot sizing, and nine trading strategies, it offers traders maximum flexibility.
👉 For traders seeking a prop firm–ready EA with advanced money management and risk filters, the Gold Reaper MT5 stands out as a robust and professional solution. Its balance between scalping, breakout strategies, and drawdown protection makes it ideal for both retail traders and funded account challenges.
