The Gold Reaper EA V3.3 MT4

Key Features:

• Very easy to use: install on chart, and set your prefered maximum allowed drawdown.  The EA will determine trade frequency and lotsize fully automatic 
• No grid/No Martingale/No risky risk management
• good results over the full historical data for XAUUSD
• Easy to use for Prop Firms
• Minimum account balance: 300$

Backtesting: 

Simply run on XAUUSD using default settings, or change the max allowed drawdown to your preference.  You can also change the trade frequency manually to see the different results. Timeframe of the chart doesn’t matter.

Setup:

Run on XAUUSD and set your trade frequency (automatic by default), and your prefered max allowed drawdown.

Or set the trade frequency manually to your preference.

Timeframe of the chart doesn’t matter.

Parameters:

• ShowInfoPanel -> display the information panel on the chart 
• Adjustment for Infopanel size -> in case of 4K display, set value to "2"
• update infopanel during testing -> disabled for faster backtesting
• Trade Frequency: allows you to use different setups from the EA, going from very conservative trading frequency to extreme trading frequency.  By default, it is set to "auto", which means it will use the account balance, and the Max Allowed Drawdown to determine the trade frequency.  When using "StartLots", you MUST set the trade frequency also manually!
• Maximum allowed spread: maximum spread for pending orders to be allowed
• Friday Stop Hour -> if you don't want trades to be hold over the weekend, set a value between 0 and 23. (25 means "disabled)
• SetSL_TP_After_Entry -> enable only if your broker doesn't allow pending orders with SL and TP
• Use Virtual Expiration -> enable only if your broker doesn't allow pending order with expiration date
• Randomization -> this will randomize the entries, exits and TrailingSL values a bit, so that multiple users on the same broker, will have a bit different trades.  Also good for prop firms.  Good value is "50"
• BaseMagicNumber -> the base magicnumber that will be used for all strategies
• Comment for trades -> the comment to be used for the trades
• Lotsize Calculation Method -> here you determine how the lotsize should be calculated: Fixed lotsize (Use StartLots), Or use the "Max Allowed Total Drawdown
• Startlots -> set the value for fixed lotsize, when that option is chosen.  This parameter will be used as "minimum lotsize" when using any of the other 2 options for lotsize calculation
• Max Allowed Drawdown -> The prefered maximum allowed total drawdown (in %).  The EA will then determine lotsize based on the historical max DD of the EA
• Set Max Daily Drawdown -> Here you can set a maximum allowed daily drawdown (in %).  If it is reached, the EA would close all trades and pending orders, and wait for the next day.  This is usefull for prop firms
• Use Equity instead of Balance -> use Equity of the account to calculate all lotsize values
• OnlyUp -> this will prevent lotsize to decrease after losses (more aggressive but faster recovery after losses)
• EnableNFP_Filter -> turn the NFP filter on or off
• AutoGMT -> let the EA calculate the correct GMT offset for your broker, so that the time of NFP will be correct
• GMT_OFFSET_Winter -> for setting the GMT Offset manually in the wintertime (when AutoGMT is off, or during backtesting!)
• GMT_OFFSET_Summer -> for setting the GMT Offset manually in the summertime (when AutoGMT is off, or during backtesting!)
• NFP_CloseOpenTrades -> force the EA to close all open trades when NFP starts (X minutes before NFP)
• NFP_ClosePendingOrders -> force the EA to delete all pending orders when NFP starts (X minutes before NFP)
• NFP_MinutesBefore -> how many minutes before the NFP event, to close trades and pending orders
• NFP_MinutesAfter -> how many minutes after the NFP event, before the EA resumes trading again
  

IMPORTANT: For AUTO_GMT TO WORK -> you must add the URL "https ://www . worldtimeserver.com/" to the "allowed URL's" in your MT4/MT5 terminal (tools -> options -> expert advisors)