What's included
- Installation guideStep-by-step PDF with screenshots
- Optimised presetsReady-to-use configuration files
- Future updatesIncluded free when we receive them
- Email supportHelp with setup and technical issues
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The Gold Reaper EA MT5 V4.6
The Gold Reaper EA MT5 is Profalgo Limited’s multi-strategy gold breakout system. It scans XAUUSD across multiple timeframes, with adjustable trading frequency and position sizing.
- Multi-timeframe breakout scanning for gold trading opportunities.
- Configurable trade frequency and lot-sizing methods.
- Separate drawdown and daily-loss controls, plus configurable news filtering.
Explore Gold Reaper’s trading controls · Read the Gold Reaper review
Original price was: $949.00.$299.95Current price is: $299.95.
- Instant download from your account the moment checkout completes. The files stay in your customer portal.
- Official version, with future updates included free when we receive them. You never pay twice for the same product.
- 7-day money-back guarantee if it fails to install or run. Setup help by email whenever you need it.
What's included
- Installation guideStep-by-step PDF with screenshots
- Optimised presetsReady-to-use configuration files
- Future updatesIncluded free when we receive them
- Email supportHelp with setup and technical issues
Quick Summary:
The Gold Reaper for MT5 is the native MetaTrader 5 version of Profalgo Limited’s flagship Gold breakout system, built by Wim Schrynemakers — an MQL5 developer with over 20 years of EA programming experience under his belt. The MT5 version is a separate product from the MT4 version on the MQL5 marketplace, each with its own review history and dedicated user base.
The strategy is identical between platforms: multi-timeframe support and resistance scanning from a single XAUUSD chart, breakout entries when price moves through identified levels with momentum, smart trailing stop and take profit calculated from market conditions rather than fixed pips, configurable trade frequency from very conservative to extreme volatile, built-in NFP news filter, and auto GMT detection via worldtimeserver.com. The architecture is strictly no martingale, no grid, defined stop loss on every trade.
The MT5 version has accumulated 101 verified MQL5 reviews at 4.53★ since launch — significantly more validation depth than the MT4 version’s 37 reviews. Combined across both platforms, Gold Reaper has 138+ verified buyer reviews, making it one of the most reviewed Gold breakout EAs on the MQL5 marketplace.
Official MQL5 Listing:
The Gold Reaper MT5 — MQL5 Marketplace
Live Signal:
Gold Reaper New V2.2 — Verified Live Signal
YouTube Review:
The Gold Reaper EA — Independent Third-Party Review
👀 Trading on MetaTrader 4? The Gold Reaper is also available for MT4 with identical breakout logic and the original 37-review MQL5 listing. View The Gold Reaper EA MT4 →
Breakout settings and risk controls
Gold Reaper MT5 settings: lot sizing, daily limits and news timing
Choose a sizing method before changing strategy settings
| Control | How the controls interact |
|---|---|
| Lot-sizing method / StartLots | StartLots supplies the fixed volume in fixed sizing and the minimum volume in other sizing methods. The developer requires a manually chosen trade frequency with fixed sizing. |
| Total drawdown / daily drawdown | Total drawdown is used in the sizing model. The daily control is a separate stop for the day; its documented zero value disables it. |
| Trade Frequency / strategy switches | The manual warns against combining manual strategy selection with total-drawdown sizing. Decide which configuration method you are using before selecting individual strategies. |
| OnlyUp | This retains the sizing reference after losses. It can keep exposure higher than a setting that reduces size as the account declines; inspect it deliberately. |
| Variable values / lot adjustment | UseVariableValues adjusts entry and exit distances with the gold price. AdjustLotsizeToVariableValues is the associated volume adjustment, so review them together. |
| Friday stop hour | The documented value 25 disables the Friday shutdown. An enabled hour uses broker time, which may differ from your local clock. |
Source: the developer’s manual thread and official parameter reference. Match the input labels to your installed build. A drawdown setting is not a guarantee that a funded-account rule cannot be breached.
Check news timing before relying on the filter
EnableNFP_Filter controls filtering; UseMQL5Calendar selects the platform calendar in supported builds. The separate open-trade and pending-order options determine what is closed or removed around the event. Confirm broker time and the before/after windows instead of assuming the filter behaves identically in every preset.
Where the build uses AutoGMT or WebRequest, follow its manual’s allowed-URL list. When using manual offsets or historical tests, verify the winter and summer offsets. See the official GMT and NFP instructions.
Version notes that matter for setup and testing
The official MT5 release is 4.6 (19 May 2026), checked on 8 September. It adds an option for faster real-tick backtesting; 4.5 also improves tester speed. Version 4.4 retains the OnlyUp high-water reference after restarts. These notes describe official releases; use the build and preset in your package together. Official change history.
Need help with an error? Send your order number, EA version, preset, broker/server, symbol and the relevant Experts/Journal messages. Include the time and the control you expected to act. Contact setup support or read our Gold Reaper results and risk review covering MT4 and MT5.
Verified MQL5 Live Signal — 213.78% Growth
The dedicated Gold Reaper live signal shows verified live performance since 2024 with yearly returns clearly visible:
- 2024 (Oct-Dec, partial year): +16.53%
- 2025 (full year): +105.28%
- 2026 (Jan-Mar YTD): +31.17%
- Total Growth: 213.78%
The 2025 full-year result of +105.28% is particularly noteworthy — that’s a complete calendar year of verified live performance during which Gold experienced multiple trending phases and ranging periods. The strategy demonstrated its cyclical character within that year (visible drawdown periods like February 2025’s -6.67% and October’s -4.22%) followed by strong recovery months.
Prop Firm Preset Backtest — Drawdown and Limits
The provided prop firm preset backtest reports the following results for 2020–2024 on a $100,000 starting balance. Its overall drawdown figures do not establish the largest daily loss:
- Total Net Profit: $164,183
- Balance Drawdown Relative: 4.40% — well under the 9% max allowed total DD
- Equity Drawdown Relative: 5.72% — an overall-test figure, not a daily-loss measurement
- Profit Trades: 85.08% (2,013 of 2,366 trades)
- Profit Factor: 2.28
- Recovery Factor: 15.12
- Sharpe Ratio: 3.56
Assess the preset against the actual account rules, including the daily reset time, equity or balance basis, open losses and other positions. Neither 4.40% overall balance drawdown nor 5.72% overall equity drawdown proves compliance with a 4% daily-loss limit.
Standard 10K Backtest — Auto Trade Frequency
The standard $10,000 account backtest with auto trade frequency and 30% max allowed drawdown shows the aggressive deployment configuration:
- Total Net Profit: $196,397
- Balance Drawdown Relative: 12.43% — well under the 30% max allowed setting
- Equity Drawdown Relative: 22.68%
- Profit Trades: 81.48% (2,750 of 3,375 trades)
- Profit Factor: 2.72
- Recovery Factor: 12.13
- Sharpe Ratio: 3.33
Important context: the 22.68% equity drawdown is higher than the live signal’s historical max because the auto trade frequency takes more positions than the conservative settings. This is the trade-off — higher trade frequency captures more breakouts but exposes the account to larger intra-period equity swings. The configurable trade frequency lets you dial this trade-off based on your risk tolerance.
Why The Gold Reaper MT5
The MT5 version delivers the same architectural approach as the established MT4 version with MetaTrader 5’s faster execution speed and the platform’s superior backtesting infrastructure:
- Multi-timeframe breakout scanning — the EA scans for support and resistance levels at intraday, swing, and structural scales simultaneously from a single XAUUSD chart. A breakout that wouldn’t register on a single timeframe might be a high-probability entry on multi-timeframe confluence.
- Configurable trade frequency — adjustable from very conservative (fewer, higher-probability trades) through to extreme volatile (more frequent, smaller breakouts). This single dial determines whether the EA fits your trading style and risk tolerance.
- Smart trailing stop and take profit — both exit mechanisms calculate dynamically from market conditions rather than relying on fixed pip values. Trades lock in profit as they move and exit when conditions suggest the move is exhausted.
- NFP news filter — configurable pause periods before and after the monthly Non-Farm Payrolls release. NFP destroys breakout EAs that trade through it; Gold Reaper’s filter is built into the core.
- Auto GMT detection — via worldtimeserver.com (requires adding the URL to MT5’s allowed URLs). Eliminates the most common configuration error that breaks new deployments on unfamiliar brokers.
- Prop firm ready — dedicated prop firm set file included. No martingale, no grid, defined SL on every trade. Check the daily-loss setting and the actual account rules before choosing a configuration.
- 20 major version updates since launch — the official change history documents continued development; see the version notes in our setup guide.
- Full unlocked .ex5 file — the CheaperForex version removes activation count limitations, letting you install on any number of MT5 terminals.
EA Setup at a Glance
- Platform: MetaTrader 5
- Symbol: XAUUSD (Gold) only
- Strategy: Multi-timeframe support & resistance breakouts with momentum confirmation
- Risk Architecture: No martingale, no grid, defined stop loss on every trade
- Account type: Hedging account recommended
- Account type: ECN / Raw spread recommended for tight execution
- Leverage: 1:500 ideal (live signal runs at 1:500)
- Minimum Deposit: $1,000 recommended
- Trade Frequency: Configurable (very conservative → extreme volatile)
- NFP Filter: Built-in, configurable pause periods
- Auto GMT: Via worldtimeserver.com — must be added to allowed URLs
- Prop Firm Preset: Included
- VPS: Mandatory for 24/5 operation — breakout EAs need continuous market presence
- Version: See the package listing below; older screenshots show V4.5
- Activation: Unlimited when purchased from CheaperForex
73-Week Verified Live Signal
The Gold Reaper New V2.2 live signal runs the MT5 version of the EA and provides 73 weeks of verified live performance data:
- Total Growth: 213.78%
- Duration: 73 weeks live (mid-2024 to present)
- Current Subscribers: 64 paying copy-traders
- Broker: CapitalPointTrading (MT5)
- Configuration: Fake Breakout Filter = Medium, Moderate trade frequency, 30% max DD setting
- EA version in the published signal material: V4.5
The 64 active paying subscribers is particularly noteworthy — real traders are copying this signal with real capital, which is the strongest commercial validation a live signal can have. Few Gold EA signals reach this subscriber density.
Wim’s own characterization of historical performance: “nearly two years strong, still pushing new highs, ~14-17% max drawdown historically, fast recoveries.” The 14-17% drawdown range reflects breakout strategy cyclicality — sustained periods of relatively flat performance punctuated by explosive runs during Gold trending phases. 80% of returns historically came from approximately 5% of trading days.
From Developer Wim Schrynemakers
Wim Schrynemakers (Profalgo Limited) has been programming MetaTrader EAs since 2005 — twenty years of continuous development work in the MQL ecosystem. His product portfolio includes Gold Reaper (this product, MT4/MT5), Goldtrade Pro (the predecessor that Gold Reaper evolved from), The Gold Phantom (a companion breakout EA with 9 different strategies, MT5-only), Bitcoin Reaper, DayTrade Pro Algo, Indicement (indices), The ORB Master, Goldbot One, Luna AI (night scalper), and the Ultimate Breakout System (a strategy-building framework with 100+ included strategies).
The depth of the portfolio matters because it means Wim has been watching his own EAs trade live across multiple instruments, broker types, and market regimes for two decades. Every feature in Gold Reaper — the NFP filter, the auto GMT detection, the trailing stop logic, the configurable trade frequency, the prop firm preset — exists because he’s seen breakout EAs fail in those specific ways before and engineered against the failure modes.
Who The Gold Reaper MT5 Is For
Ideal for traders who:
- Trade XAUUSD specifically and want a dedicated Gold breakout system rather than a multi-instrument EA
- Understand that breakout strategies are cyclical — flat or negative periods during ranging markets, explosive growth during trending phases
- Have $1,000+ in dedicated capital and can deploy a VPS for continuous operation
- Use ECN/Raw spread brokers with hedging accounts and 1:500 leverage
- Want to evaluate the supplied prop firm preset against the rules of their particular funded account
- Prefer MT5 specifically — faster execution speed and superior backtesting infrastructure compared to MT4
- Plan to run multiple MT5 terminals and benefit from the unlocked .ex5 file (vs MQL5’s activation count limit)
Consider alternatives if you:
- Need a non-breakout strategy — Gold Reaper specifically catches breakouts, not range-bound mean reversion
- Cannot tolerate cyclical drawdown periods — breakout strategies require psychological discipline during flat periods
- Trade exclusively on MT4 — the MT4 version is available at CheaperForex with the same breakout logic
- Want a fully plug-and-play EA — Gold Reaper requires some configuration (GMT setup, trade frequency selection, NFP filter)
Risk Disclaimer
Past performance does not guarantee future results. The Gold Reaper uses breakout strategy mechanics that produce cyclical performance — sustained flat or negative periods during ranging Gold markets, followed by explosive growth during trending phases. Historical maximum drawdown on the live signal is approximately 14-17%, with the configurable 30% max DD setting in use. Approximately 80% of returns historically came from approximately 5% of trading days, meaning the EA must be running during breakout windows to capture those returns. XAUUSD (Gold) trading carries substantial risk and is not suitable for all investors. Always test on a demo account before live deployment. Use the recommended VPS configuration to avoid missing breakout windows during your offline hours.
Want the Full Breakdown?
📖 Read our complete Gold Reaper EA review (MT4 + MT5) →
Includes the multi-timeframe breakout architecture explained, analysis of the live signal showing 213.78% growth, breakdown of the 101 MT5 reviews + 37 MT4 reviews and what the patterns reveal, broker recommendations, prop firm setup guidance, and our verdict on whether Gold Reaper is right for your trading profile.
Delivery: MT5 download (V4.6) for unlimited terminals, including standard and prop-firm presets. Updates are provided when received.
FAQs
What is The Gold Reaper EA for MT5?
The Gold Reaper for MT5 is the native MetaTrader 5 version of Profalgo Limited’s flagship Gold breakout system, built by Wim Schrynemakers. The EA scans support and resistance levels across multiple timeframes simultaneously from a single XAUUSD chart, entering when price breaks through with momentum. Features include configurable trade frequency, smart trailing stop and take profit logic, built-in NFP news filter, and auto GMT detection. The MT5 version is currently at V4.5 and has accumulated 101 verified MQL5 reviews at 4.53★.
What’s the difference between the MT4 and MT5 versions?
The breakout logic is identical between platforms — same multi-timeframe scanning, same trade frequency configuration, same trailing stops, same NFP filter. The differences are platform-native: MT5 offers faster execution speed, superior backtesting infrastructure, and native multi-currency depth-of-market data. The MT5 version has 101 verified MQL5 reviews at 4.53★ compared to the MT4 version’s 37 reviews at 4.59★ — combined across both platforms, the Gold Reaper has 138+ verified buyer reviews.
What’s the difference between CheaperForex and MQL5 purchase?
The CheaperForex version delivers the full unlocked .ex5 file — install on any number of MT5 terminals without restriction. The direct MQL5 purchase carries activation count limits. EA logic and updates are identical between versions. Both provide free lifetime updates.
Does The Gold Reaper use grid or martingale?
No. The architecture is strictly grid-free and martingale-free with defined Stop Loss on every trade. This is fundamental to Wim Schrynemakers’ design philosophy across his entire EA portfolio — verified by 138+ buyer reviews across both MT4 and MT5 versions and by the public live signal showing trade-by-trade SL placement. The lack of grid/martingale makes Gold Reaper genuinely compatible with prop firm rules.
How does the multi-timeframe approach work?
The EA scans for support and resistance levels across multiple timeframes (intraday, swing, structural) from a single XAUUSD chart attachment. When price breaks through a level with momentum, the EA enters with predefined Stop Loss and dynamic Take Profit. This captures breakouts at different scales without requiring multiple chart installations or complex setup procedures.
Is The Gold Reaper prop firm compatible?
Yes. A dedicated prop firm set file is included with the EA. The architecture meets typical prop firm requirements — no grid, no martingale, defined SL on every trade, configurable trade frequency to manage drawdown within funded account limits. The conservative trade frequency setting paired with the prop firm preset keeps activity within typical FTMO, MyForexFunds, and FundedNext rules. Always verify your specific firm’s policies before deployment.
What broker should I use for The Gold Reaper MT5?
Any reputable broker offering ECN/Raw spread accounts on XAUUSD with hedging mode and 1:500 leverage. The dedicated live signal runs on CapitalPointTrading. Other suitable brokers include IC Markets, IC Trading, FP Markets, Pepperstone, FxTrading. Spread quality on XAUUSD matters specifically because breakout strategies enter at volatile moments when spreads can widen — ECN/Raw execution preserves the strategy’s edge.
What capital and configuration do I need?
$1,000 minimum deposit recommended for comfortable operation. Wim’s own guidance: “The historical max drawdown for ‘very conservative’ setting is around $300” — meaning a $1,000 account can absorb the historical conservative-mode drawdown comfortably. The auto GMT detection requires adding “worldtimeserver.com” to your MT5 terminal’s allowed URLs (Tools → Options → Expert Advisors). A VPS is mandatory — breakout strategies require continuous market presence to capture the 5% of trading days that produce 80% of returns.
Pre-Purchase FAQs
Are updates always free?
Yes, all updates are completely free—you'll never pay twice.
We receive updates from developers and upload them to your account when they're available. Please be patient, as we're managing hundreds of products at discounted prices. More popular products are updated more frequently.
All versions are stored in your account for easy access.
What's your refund policy?
We offer a 7-day technical guarantee. If the EA fails to attach to your chart due to verified errors we can replicate, we'll issue a full refund.
However, we cannot refund based on trading performance or profit expectations—forex markets are unpredictable, and results vary by broker, spread, and market conditions. We provide tools, not guarantees.
I need assistance installing this?
Yes, we'd be happy to assist you!
We can advise you on the best settings for your account or create custom presets tailored to your needs. Additionally, we offer a one-time free installation service using AnyDesk for remote setup.
Please note, however, that we cannot provide advice on how to make money with any of our products.
Can I use this on multiple accounts?
Absolutely. Once you purchase, the EA is yours to use on unlimited live and demo accounts—no restrictions.
You can run it on multiple brokers, VPS servers, or trading accounts simultaneously.
There are no license limits or activation keys. Buy once, use everywhere.
How do I download after payment?
After successful payment, your product will be available for download instantly:
- Displayed on the screen immediately after checkout
- Emailed to the address you provided during purchase
- Stored in your account if you created one at checkout
In rare cases (about 1% of high-value premium products), orders may be held for manual review to prevent fraud. If you don't see a download link, contact us for assistance.
Is this an original product?
Yes, absolutely.
We do not sell fake products, and our customer reviews, along with our pricing, reflect the quality and authenticity of what we offer.
Why Traders Trust Us
Reviewed by Our Trader
Peter Jones
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