The Gold Reaper EA MT4 V4.1

What is The Gold Reaper EA MT4?

The Gold Reaper is a fully automated multi-timeframe Gold breakout EA by Profalgo Limited. It trades XAUUSD by identifying breakouts of important support and resistance levels across multiple timeframes simultaneously. The EA automatically adapts trade frequency and lot size based on your account balance and maximum allowed drawdown setting. Currently on version 4.0 with 37 verified reviews (4.59★) and 7,575 demo downloads on MQL5.

What does the live signal show?

The MQL5 verified signal shows 139% growth over 60 weeks with a 2.15 profit factor and 71.16% win rate across 593 trades. Monthly average growth is 7.27% (88% annualised). Maximum consecutive wins: 55 trades. Maximum consecutive losses: 9 trades (costing only $16). The signal runs at 99% algo trading, confirming it’s almost entirely automated.

How does the auto-adapting risk system work?

Set your preferred maximum allowed drawdown percentage and the EA calculates everything else automatically. It determines trade frequency and lot size based on your account balance and your drawdown preference. Larger accounts get larger positions; smaller accounts get proportionally smaller positions. No manual lot calculation needed. You can also override this and set manual frequency and fixed lots if you prefer.

What timeframe should I use?

The timeframe of the chart doesn’t matter — the EA handles all timeframe analysis internally. It runs multiple strategies across multiple timeframes simultaneously. Just attach it to any XAUUSD chart and the EA manages the rest.

Is it prop firm compatible?

Yes. Gold Reaper includes a dedicated prop firm set file and built-in features: maximum daily drawdown protection (closes all trades if reached), entry/exit randomization (prevents trade copying detection), equity-based calculations, and OnlyUp mode for faster recovery. Users report passing FTMO and similar evaluations with the included configuration.

What is the relationship between Gold Reaper and Goldtrade Pro?

Gold Reaper is the evolutionary successor to Goldtrade Pro. Both trade Gold breakouts but use different approaches — the developer states the correlation between the two is surprisingly low. Running both together can produce stronger growth with similar or reduced maximum drawdown compared to running either alone.

What broker should I use?

Any broker that offers XAUUSD. ECN or raw spread accounts are recommended for best execution since the EA trades breakouts and execution speed matters. The live signal runs on CapitalPointTrading at 1:500 leverage. IC Markets is commonly used by the developer community.

What is the NFP filter?

The built-in Non-Farm Payroll filter automatically adjusts trading around high-impact US economic releases. You can configure it to close open trades and delete pending orders before the event, and set how many minutes before and after the release the EA should pause trading. AutoGMT detection ensures the timing is correct for your broker.

What is the minimum deposit?

$300 minimum as stated by the developer. The auto-adapting system will calculate appropriate lot sizes for your account balance. Larger accounts ($1,000+) provide more comfortable margin headroom and smoother equity curves.

How often does it trade?

The live signal averages 9 trades per week (approximately 2 per day) with a 5-hour average holding time. Trade frequency depends on market conditions and your settings — on auto mode, the EA adjusts frequency based on your account size and drawdown preference. You can also set frequency manually from very conservative to extreme.

What stops does it use?

Every trade has four layers of protection: stop loss, take profit, trailing stop loss, and trailing take profit. The trailing mechanisms minimize risk on open positions while maximizing profit potential when the trade moves in your favour. No trades are ever opened without a defined stop loss.

What is the randomization feature?

The randomization parameter slightly varies entry and exit prices and trailing stop values. This ensures multiple users running Gold Reaper on the same broker don’t place identical trades at identical times — which can trigger broker scrutiny or prop firm trade copying detection. A value of “50” is recommended.

Why is the rating 4.59 instead of 5.0?

With 37 reviews, a 4.59 average means the vast majority of users are highly satisfied but some experiences vary. This typically reflects differences in broker quality, spread conditions, or expectations about trade frequency. The detailed positive reviews praise stability, the auto-adapting system, and live results matching backtests. A 4.59 from 37 reviews is more credible than a perfect 5.0 from fewer reviewers.

Do I need a VPS?

Recommended. The EA continuously reads broker conditions and manages multiple pending orders and timeframes. A VPS ensures uninterrupted 24/5 operation. The EA also requires the URL “worldtimeserver.com” to be added to your MT4 allowed URLs list for the AutoGMT feature to detect NFP timing correctly.

Can I optimise it for other pairs?

Yes. All parameters are fully open. While the default settings are optimised for XAUUSD, the developer states you can optimise and create your own settings for other instruments. However, the EA’s strategy is specifically designed around Gold’s volatility and breakout characteristics.

Who developed it?

Profalgo Limited, led by a developer with 15+ years of experience in automated trading. He maintains 20+ live signals on MQL5, an active blog, a public Telegram group, and personally engages with every comment and review. His development philosophy emphasises honest strategies over marketing claims — no fake AI, no unrealistic backtests.