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Quick Verdict
The Gold Reaper MT5 is a professional-grade automated trading system designed specifically for XAUUSD (Gold) traders. Developed by Profalgo Limited, the EA focuses on breakout trading around key support and resistance zones while incorporating advanced risk management features suitable for both retail traders and prop firm challenges.
Best For
✔ Prop Firm traders looking for strict drawdown control.
✔ Gold (XAUUSD) traders seeking full automation.
✔ Traders who prefer non-Martingale strategies.
✔ Medium to large trading accounts ($600+ recommended).
✔ Investors seeking long-term portfolio diversification with Gold EAs.
Overall Rating
8.9/10 ⭐⭐⭐⭐⭐
| Category | Score |
|---|---|
| Strategy Quality | 9.0/10 |
| Risk Management | 9.2/10 |
| Ease of Use | 9.0/10 |
| Backtest Quality | 8.8/10 |
| Live Performance | 8.7/10 |
| Value for Money | 8.5/10 |
| Overall Rating | 8.9/10 |
What is The Gold Reaper MT5?
The Gold Reaper MT5 is an automated Expert Advisor (EA) for MetaTrader 5 that specializes in trading XAUUSD (Gold).
Built on the foundation of the successful Goldtrade Pro strategy, the EA combines multiple internal algorithms to identify high-probability breakout opportunities around significant support and resistance levels.
Unlike many commercial EAs that rely on grid systems or Martingale recovery methods, The Gold Reaper MT5 employs:
✔ Multiple confirmation filters
✔ Dynamic lot sizing
✔ Adaptive trade frequency
✔ Trailing stop management
✔ Built-in drawdown protection
✔ Prop Firm compliance features
The EA can automatically determine the optimal lot size and trading activity based on account size and the trader’s selected maximum drawdown.
About the Developer
The Gold Reaper MT5 was developed by Profalgo Limited, a trading software developer with more than 15 years of experience in algorithmic trading systems.
Other Popular EAs from the Same Developer
Some notable Expert Advisors associated with this developer include:
The developer is well known within the MetaTrader marketplace for focusing primarily on Gold trading systems and maintaining long-term support for clients.
Developer Philosophy
According to the official description, the developer emphasizes:
✔ Realistic backtesting
✔ No artificial curve fitting
✔ No AI marketing hype
✔ No Martingale systems
✔ Transparent risk management
🔶 Vendor Website: View here
How Does The Gold Reaper MT5 Work?
Core Trading Strategy
The EA is based on breakout trading around major support and resistance levels.
When price approaches key zones, the system uses multiple confirmation algorithms to determine whether a breakout has a high probability of continuation.
Multi-Strategy Architecture
Rather than relying on a single entry model, The Gold Reaper internally combines multiple trading modules to:
✔ Reduce correlation between trades
✔ Improve trade quality
✔ Diversify entry timing
✔ Smooth overall equity growth
Automated Position Sizing
One of the strongest features is its dynamic lot sizing system.
The EA can automatically calculate:
✔ Trade frequency
✔ Position size
✔ Risk exposure
Based on:
✔ Account balance
✔ Equity
✔ Maximum drawdown setting
✔ Daily drawdown limit
Advanced Trade Management
Every position includes:
✔ Stop Loss
✔ Take Profit
✔ Trailing Stop Loss
✔ Trailing Take Profit
This helps lock in profits while controlling downside risk.
Verified Live Signal Performance
Real Account Results
Based on the live signal screenshots provided:
The Gold Reaper MT5 Live Myfxbook
Based on the published live signal data, The Gold Reaper MT5 achieved:
| Metric | Result |
|---|---|
| Total Gain | +169.59% |
| Absolute Gain | +27.11% |
| Monthly Gain | 18.31% |
| Maximum Drawdown | 14.83% |
| Account Profit | $443,193+ |
| Account Balance | $1.57 Million+ |
Performance Analysis
The live account demonstrates several encouraging characteristics:
✔ Consistent Equity Growth: The equity curve shows a relatively steady upward progression rather than isolated profit spikes.
✔ Controlled Drawdown: A drawdown below 15% while generating substantial returns suggests disciplined position management.
✔ Long-Term Sustainability: The account appears to have remained profitable across multiple months while handling significant capital.
Historical Backtest Performance
Conservative Prop Firm Configuration
The Gold Reaper MT5 Backtest Trading Results
Backtest results (2020-2024):
| Metric | Result |
|---|---|
| Net Profit | $164,183 |
| Profit Factor | 2.28 |
| Win Rate | 85.08% |
| Relative Drawdown | 4.40% |
| Total Trades | 2,366 |
| Sharpe Ratio | 3.56 |
Aggressive Configuration
The Gold Reaper MT5 Backtest Results
Backtest results (2020-2024):
| Metric | Result |
|---|---|
| Net Profit | $108,822 |
| Profit Factor | 3.29 |
| Win Rate | 81.64% |
| Relative Drawdown | 22.49% |
| Total Trades | 2,974 |
| Sharpe Ratio | 3.68 |
What the Backtests Suggest
The backtests demonstrate:
✔ Stable long-term profitability
✔ Controlled drawdowns
✔ High trade volume
✔ Strong risk-adjusted returns
The equity curves show relatively smooth long-term growth, which is generally preferable to highly volatile profit profiles.
What Real Users Are Saying
User reviews reveal a generally positive reception, although expectations vary among traders.
Positive Feedback
Andrei Koval
“Very advanced, very predictable, stable trading system.”
Roman Tressler
“Made approximately 10% on capital in the first few days and everything works as expected.”
RussellKing
“Gold Reaper is the best performing EA in my portfolio despite temporary drawdown periods.”
Constructive Criticism
Michele
Reported disappointment after one month of limited profits and expected faster returns.
Overall User Sentiment
The majority of satisfied users emphasize:
✔ Stability
✔ Long-term profitability
✔ Controlled drawdowns
✔ Professional developer support
Meanwhile, less satisfied users often appear to have expected immediate or uninterrupted profits.
Why The Gold Reaper MT5 Stands Out
Fully Automated Risk-Based Trading
Most EAs require manual optimization.
The Gold Reaper automatically adjusts:
✔ Risk level
✔ Lot size
✔ Trading frequency
Based on account conditions.
No Grid and No Martingale
Many retail EAs rely on dangerous recovery techniques.
The Gold Reaper MT5 specifically avoids:
✔ Grid trading
✔ Martingale progression
✔ Unlimited position averaging
This significantly reduces blow-up risk.
Prop Firm Ready
The EA includes dedicated tools for:
✔ Daily drawdown limits
✔ Total drawdown limits
✔ News filtering
✔ Position protection
Making it highly attractive for funded account traders.
Multi-Timeframe Execution
The system can simultaneously analyze multiple timeframes to improve entry precision and reduce false signals.
Risk Management Features
Drawdown Control System
Users can define:
✔ Maximum total drawdown
✔ Maximum daily drawdown
The EA then automatically adjusts risk exposure.
NFP Protection
The Gold Reaper includes built-in Non-Farm Payroll filters:
✔ Close open positions before NFP
✔ Remove pending orders before NFP
✔ Resume trading after volatility subsides
Weekend Risk Protection
Traders can configure:
✔ Friday stop hour
✔ Weekend position closure
✔ Pending order removal
This helps reduce gap risk.
Equity-Based Risk Calculation
The system can calculate position sizing based on:
✔ Balance
✔ Equity
Providing additional flexibility for risk-conscious traders.
Recommended Trading Conditions
Recommended settings and parameters to pay attention to from developers and experts:
| Features | Type |
|---|---|
| Trading platform | MetaTrader 5 (MT5) |
| Time frames | H1 (60 minute chart) |
| Currency pairs | XAUUSD (Gold) |
| Minimum / Recommended deposit | $300 |
| Minimum / Recommended leverage | 1:30+ |
| Product type | NoDLL |
| Additional services | Unlock and Decompile |
| Recommended brokers | Exness Broker, Icmarkets Broker |
| Recommended VPS | MyfxVPS.com ( Blue VPS, Golden VPS). Lowest Latency, 2 week Free Trial, 100% Free for 12-18 Months. |
Product Download Package?
The download package of the product suite includes:
Experts
✅ Setting (If Any).docx
✅ Installation Guide.docx
✅ The Gold Reaper MT5 v4.3 Unlimited
SetFiles
✅ propfirm__1.set
✅ gold reaper_lowrisk.set
✅ gold reaper_mediumrisk.set
✅ gold reaper_highrisk.set
➡️ Reviewed by David Easton
Potential Risks (Weaknesses and Risk Warnings)
Gold Market Volatility
Gold can experience:
✔ Sharp spikes
✔ News-driven moves
✔ Weekend gaps
Even robust algorithms can suffer temporary losses during extreme conditions.
Broker Dependency
Execution quality affects results.
Differences in:
✔ Spread
✔ Slippage
✔ Liquidity
May impact profitability.
Drawdowns Are Normal
Although the EA contains sophisticated risk management, no strategy can avoid losing periods.
Traders should expect:
✔ Temporary equity declines
✔ Recovery phases
✔ Performance fluctuations
Who Should Use The Gold Reaper MT5?
Ideal Users
✅ Prop Firm traders
✅ Experienced Gold traders
✅ Investors seeking portfolio diversification
✅ Traders wanting fully automated execution
✅ Users who prioritize risk control over extreme returns
Not Recommended For
❌ Traders expecting guaranteed profits
❌ Very small accounts below $600
❌ Traders unwilling to tolerate drawdowns
❌ Investors looking for ultra-high-frequency scalping systems
Final Verdict
The Gold Reaper MT5 is one of the more sophisticated Gold trading EAs currently available for MetaTrader 5. Its combination of breakout trading logic, adaptive risk management, strict drawdown controls, and prop firm compatibility makes it an attractive choice for traders seeking a professional automated solution.
The verified live results, strong historical backtests, and positive user feedback indicate that the system is built around a realistic and sustainable trading methodology rather than high-risk recovery techniques.
While no EA can guarantee profits, The Gold Reaper MT5 offers a compelling balance between growth potential and capital preservation.
The Gold Reaper MT5 – Complete Settings Guide & Explanation
The Gold Reaper MT5 is a powerful automated trading Expert Advisor developed for the MetaTrader 5 platform, specifically optimized for Gold trading and advanced risk-controlled portfolio management.
The EA combines multiple trading strategies, drawdown protection, smart lot size calculation, fake breakout filtering, NFP protection and Prop Firm optimization features.
With flexible money management and advanced trade handling systems, The Gold Reaper MT5 is designed for traders seeking professional automated Gold trading performance.
The Gold Reaper MT5 Settings
Installation Panel Parameters
Below are the details of the parameters in the advisor’s trading system settings table:
The Gold Reaper MT5 Setting Panel
The Gold Reaper MT5 EA Setting Panel
Lot Size Settings
🔹 manually set balance to use (if > 0) = 0.0 — Uses the real account balance because manual balance override is disabled.
🔹 Lotsize calculation method = Max Allowed Total Drawdown — Calculates lot size based on the maximum allowed total drawdown model.
🔹 StartLots = 0.01 — Initial starting lot size set to 0.01.
🔹 Max Allowed TOTAL Drawdown = 30.0 — Maximum total account drawdown allowed is 30.0%.
🔹 Weighted Lotsize = true — Enables weighted lot size adjustments based on risk exposure.
🔹 Max Risk Per Strat = 1.0 — Maximum risk allowed per trading strategy is 1.0%.
🔹 Set Max DAILY Drawdown (Prop Firms) = 0.0 — Daily drawdown protection is disabled.
🔹 OnlyUp = true — Allows lot sizes to increase only upward and prevents automatic lot reduction.
🔹 Reset Highest Balance for OnlyUp = false — Disables automatic reset of highest balance tracking.
🔹 CheckMargin = true — Verifies available margin before placing trades.
🔹 Use Equity Instead of Balance = false — Uses account balance instead of equity for calculations.
Manual Strategy Selection Settings
🔹 !! DO NOT RUN MANUAL STRATEGIES WHILE USING ‘MAX ALLOWED TOTAL DD’ OPTION !! — Warning message advising traders not to combine manual strategies with total drawdown mode.
🔹 Run Strategy 1 (low risk) = true — Enables Strategy 1 low-risk trading module.
🔹 Run Strategy 2 (low risk) = true — Enables Strategy 2 low-risk trading module.
🔹 Run Strategy 3 (low risk) = true — Enables Strategy 3 low-risk trading module.
🔹 Run Strategy 4 (med risk) = true — Enables Strategy 4 medium-risk trading module.
🔹 Run Strategy 5 (med risk) = true — Enables Strategy 5 medium-risk trading module.
🔹 Run Strategy 6 (med risk) = true — Enables Strategy 6 medium-risk trading module.
🔹 Run Strategy 7 (med risk) = true — Enables Strategy 7 medium-risk trading module.
🔹 Run Strategy 8 (high risk) = true — Enables Strategy 8 high-risk trading module.
🔹 Run Strategy 9 (high risk) = true — Enables Strategy 9 high-risk trading module.
Variable & Display Settings
🔹 UseVariableValues = true — Enables dynamic variable-based calculations and adjustments.
🔹 AdjustLotsizeToVariableValues = true — Automatically adjusts lot sizes according to variable values.
🔹 ShowInfoPanel = true — Displays the EA information panel on the chart.
🔹 update infopanel during testing = false — Disables info panel updates during backtesting.
🔹 Adjustment for Infopanel size = 1.0 — Uses default scaling size for the information panel.
🔹 Force Font Size (0=disabled) = 0 — Disables forced font sizing for the information panel.
Backtest Speed Settings
🔹 Backtest Speed = normal — Uses normal processing speed during strategy testing.
Trading Settings
🔹 Allow Buy Trades = true — Allows BUY positions to be opened.
🔹 Allow Sell Trades = true — Allows SELL positions to be opened.
🔹 TradeFrequency = Auto (based on balance and risk) — Automatically adjusts trade frequency according to balance and risk.
🔹 Max Allowed Spread = 500.0 — Maximum spread allowed before opening trades.
🔹 UseHL_TrailingSL = true — Enables High/Low based trailing stop loss management.
🔹 Friday stop hour (brokertime; close all trades+pending) = 25 — Stops trading and closes trades after broker hour 25 on Friday.
🔹 delete pending orders = true — Automatically deletes pending orders when required.
🔹 close open trades = true — Automatically closes open positions during shutdown conditions.
🔹 setSL_TP_After_Entry = false — Disables delayed stop loss and take profit assignment after trade execution.
🔹 Use Virtual Expiration = true — Enables virtual expiration handling for pending orders.
🔹 Randomization (entries and exit) in pips = 0.0 — No entry or exit randomization applied.
🔹 Fake Breakout Filter = Medium — Uses Medium sensitivity fake breakout filtering.
🔹 Base Magicnumber = 8000 — Base magic number used for trade identification.
🔹 Comment for trades = The Gold Reaper — Adds “The Gold Reaper” comment to all trades.
🔹 RemoveCommentSuffix = false — Keeps additional trade comment suffixes enabled.
NFP Filter Settings
🔹 EnableNFP_Filter = true — Enables Non-Farm Payroll news filtering.
🔹 UseMQL5Calendar = true — Uses the MQL5 economic calendar for news events.
🔹 AutoGMT = true — Automatically calculates GMT broker offsets.
🔹 GMT_OFFSET_Winter (AutoGMT=false or backtesting) = 2 — Winter GMT broker offset set to +2.
🔹 GMT_OFFSET_Summer (AutoGMT=false or backtesting) = 3 — Summer GMT broker offset set to +3.
🔹 NFP_CloseOpenTrades = true — Closes all open trades before NFP events.
🔹 NFP_ClosePendingOrders = true — Deletes pending orders before NFP releases.
🔹 NFP_MinutesBefore = 100 — Blocks trading 100 minutes before NFP news.
🔹 NFP_MinutesAfter = 60 — Blocks trading 60 minutes after NFP news.
Prop Firm Unique Trade Settings
🔹 AdjustEntry = 0.0 — No additional entry adjustment applied.
🔹 AdjustSL = 0.0 — No stop loss adjustment applied.
🔹 AdjustTP = 0.0 — No take profit adjustment applied.
🔹 AdjustTrailSL = 0.0 — No trailing stop loss adjustment applied.
🔹 AdjustTrailTP = 0.0 — No trailing take profit adjustment applied.
🔹 AdjustBreakEven = 0.0 — No breakeven adjustment applied.
Conclusion
The Gold Reaper MT5 is a highly advanced Gold trading Expert Advisor (EA) that integrates multi-strategy execution, smart lot size calculation, NFP filtering, fake breakout detection, and drawdown-based risk management into one professional MT5 solution.
Its prop firm compatibility, flexible strategy selection, and advanced automation controls make it suitable for traders looking for powerful and risk-aware Gold trading automation.
FAQs
❓ What is The Gold Reaper MT5?
The Gold Reaper MT5 is an automated Gold trading Expert Advisor for MetaTrader 5 with advanced risk management and multi-strategy trading capabilities.
❓ How many trading strategies are included in The Gold Reaper MT5?
The EA includes nine trading strategies ranging from low-risk to high-risk configurations.
❓ Does The Gold Reaper MT5 support prop firm trading?
Yes, the EA includes prop firm protection settings such as drawdown controls and risk-based lot sizing.
❓ What is the purpose of the NFP filter in The Gold Reaper MT5?
The NFP filter helps avoid volatile market conditions during Non-Farm Payroll news events by blocking trading and closing trades.
❓ Can The Gold Reaper MT5 automatically calculate lot sizes?
Yes, the EA supports automatic lot size calculation based on maximum allowed total drawdown and risk exposure.
User Reviews
Only logged in customers who have purchased this product may leave a review.
1. What market does The Gold Reaper MT5 trade on?
The Gold Reaper MT5 is specifically designed for trading XAUUSD (Gold vs US Dollar) on the MetaTrader 5 platform. It uses a multi-timeframe breakout scalping strategy to capture profitable opportunities in gold’s volatile movements.
2. Is The Gold Reaper MT5 suitable for beginners?
Yes. The EA is designed for both beginners and experienced traders. It features auto-adaptive trade management, pre-configured settings, and an easy setup — just attach it to a gold chart, choose your risk level, and you’re good to go.
3. What are the minimum requirements to run this EA?
Platform: MetaTrader 5
Currency Pair: XAUUSD
Minimum Deposit: $300
Recommended VPS: MyfxVPS.com (Blue or Golden VPS)
Leverage: Any
4. Does The Gold Reaper MT5 use dangerous strategies like Martingale or Grid?
No. The Gold Reaper MT5 does not use Martingale or Grid. It follows a conservative, risk-managed approach using Stop Loss, Take Profit, Trailing SL/TP, and smart trade frequency controls.
5. Is it compatible with proprietary trading firm rules?
Yes. The EA is prop-firm ready, with features such as Max Daily Drawdown Control, Randomized Trade Entries, and News Filters, ensuring compatibility with firms like FTMO, MyForexFunds, and others.
6. How does the EA handle high-impact news events like NFP?
The Gold Reaper MT5 includes a built-in NFP filter that automatically manages trades during high-volatility news releases. You can customize how early it pauses trades and when it resumes after the event.
7. Can I adjust the trading frequency and risk settings?
Absolutely. You can manually select between ultra-conservative to aggressive trading styles, or allow the EA to auto-adjust based on your account balance and risk tolerance.
8. What kind of performance can I expect?
Based on live Myfxbook results and backtests from 2020–2024, the EA has shown:
Up to +169% total gain,
Monthly returns over 18%,
And drawdowns as low as 3.5% depending on the risk profile.
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Original price was: $1,200.00.$89.00Current price is: $89.00. -
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