Introduction

The Gold Reaper EA V4.0 MT4 is an automated trading system developed for MetaTrader 4, specifically optimized for trading gold (XAUUSD). It focuses on capturing strong price movements using breakout and momentum-based strategies, allowing traders to participate in volatile markets with a structured and rule-based approach.

Key Features

Fully automated trading system
Optimized for gold (XAUUSD) trading
Breakout and momentum-based entry logic
Built-in stop loss and take profit management
Customizable risk and lot size settings
High-speed execution for volatile markets
Continuous market monitoring
Compatible with MT4 backtesting

Recommended Settings

Timeframe: M15 or H1
Pair: XAUUSD (Gold)
Lot Size: 0.01 per $100 (low risk)
Stop Loss: 50–100 pips (depending on volatility)
Take Profit: 100–200 pips
Risk Level: Low to medium for stability
VPS: Recommended for uninterrupted operation

Backtest Result

Strong performance during trending and breakout conditions
Moderate to high profitability depending on settings
Drawdowns may occur during sideways markets
Better results on low-spread brokers
Performance varies based on configuration and market conditions

Note: Always test on a demo account before live trading.

Advantages

Specialized for gold trading
Captures strong breakout movements
Fully automated with minimal manual effort
Eliminates emotional trading
Built-in risk management features
Suitable for beginners and experienced traders
Works efficiently in volatile markets

Disadvantages

High risk due to gold’s volatility
No guarantee of consistent profit
Performance depends on market conditions
Requires proper configuration
Needs stable internet or VPS
Limited mainly to XAUUSD
Can experience drawdowns in choppy markets

Installation & Setup Guide

Download the EA file (.ex4 or .mq4)
Open MT4 → File → Open Data Folder
Go to MQL4 → Experts
Paste the EA file into the Experts folder
Restart or refresh MT4
Open XAUUSD chart
Drag the EA onto the chart
Enable AutoTrading
Adjust settings (lot size, SL, TP)
Enable "Allow live trading"
Let the EA run and monitor performance.

Support & Disclaimer

Support

If you need help installing or configuring your EA, or face any kind of bug, feel free to reach out on:

WhatsApp: Click here

Telegram Group: Join our community

Disclaimer:

Forex and gold trading involve risk. Past performance doesn't guarantee future results. Always test robots on demo before live trading and use proper risk management.