📌 Introduction

The Gold Reaper Source Code V4.6 is a professional-grade Expert Advisor designed exclusively for XAUUSD (Gold) trading on the MetaTrader 5 platform. Built on the proven breakout strategy, this EA operates across multiple timeframes simultaneously to identify high-probability support and resistance breaks. With over 15 years of development experience behind it, this system offers a transparent, non-martingale, non-grid approach to automated gold trading. It auto-adapts trade frequency and lot sizes based on your account balance and risk preferences, making it suitable for both retail traders and prop firm challenges.

⚡ Key Features

✅ Multi-timeframe breakout detection across multiple scales
✅ Auto-adaptive trade frequency (conservative to extreme volatile)
✅ Smart trailing stop-loss and trailing take-profit mechanisms
✅ No grid, no martingale – every trade has a clear stop-loss
✅ Automated lot sizing based on account balance and max drawdown
✅ Built-in NFP filter to avoid high-impact news events
✅ Prop firm ready with daily drawdown limit settings
✅ Randomization feature to reduce correlation between users
✅ Real-time information panel with adjustable size for 4K displays
✅ Virtual expiration and SL/TP after entry for broker compatibility

🔧 Recommended Settings

Pair: XAUUSD (Gold vs USD) – only
Timeframe: H1 (Hourly) – recommended
Trade Frequency: Auto (adjusts based on account and drawdown)
Max Allowed Drawdown: 20-30% (adjust to risk tolerance)
Start Lots: 0.01 (minimum, auto-calculated if using drawdown method)
Maximum Allowed Spread: 30-50 (depends on broker)
Friday Stop Hour: 22 (avoid weekend holds)
NFP Filter: Enabled with 15 minutes before/after
Use Equity instead of Balance: Disabled (Balance mode recommended)

✅ Advantages

✔ Transparent, honest marketing – no AI/quantum hype
✔ Multi-timeframe analysis captures more opportunities
✔ Fully automated risk management with adaptive lot sizing
✔ Compatible with prop firm accounts and challenges
✔ No hidden risky strategies – every trade has defined SL/TP
✔ Backtested over the longest available Gold data period

❌ Disadvantages

✖ Live accounts may experience 30-40% drawdowns (higher than backtests)
✖ Modest live profit factor (~1.08) – returns are conservative
✖ Extended flat periods are common with breakout strategies
✖ Performance heavily depends on broker spreads and execution
✖ Requires patience and discipline during drawdown phases

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.