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The Gold Reaper EA MT4 – Full Input Settings Analysis
The Gold Reaper EA builds upon the success of Goldtrade Pro, offering seamless operation across various timeframes. It adapts to different trade frequencies, ranging from conservative to highly volatile, and employs confirmation algorithms to strategically identify optimal entry points. With internal strategies to diversify and mitigate risks, each trade includes stop-loss and take-profit measures, along with trailing options to minimize risk and maximize gains. Rooted in a proven breakout strategy, it’s finely tuned to leverage the inherent volatility of Gold.
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General Settings & Variable Management
- UseVariableValues: true – Uses predefined variable values.
- AdjustLotSizeToVariableValues: true – Lot size is automatically adjusted based on variable values.
- ShowInfoPanel: true – Displays an information panel while the EA is running.
- AdjustmentForHedgingSize: 1.0 – Lot size adjustment factor for hedging.
- UpdateIndicatorsDuringTesting: false – Does not update indicators during backtesting (for improved speed).
Main Trading Settings
- AllowBuyTrades / AllowSellTrades: true – Both Buy and Sell trades are permitted.
- TradeFrequency: Auto – Automatically determines trade frequency based on balance and risk.
- MaximumAllowedSpread: 5000 points (500 pips) – Allows trading even with very wide spreads.
- UseTrailingSL: true – Trailing stop-loss is activated.
- FriendlyNFPHour: 23 – Special hour setting, perhaps to avoid Non-Farm Payroll news.
- ISTP_PipEntryFilter: false – Does not use pip-based entry filtering.
- UseVirtualExpiration: true – Uses virtual expiration for orders.
- RandomizationEntries: 0.0 – There is no trade entry randomization.
- BaseBreakoutRisk: Medium – Medium breakout risk level.
- BaseMagicNumber: 6000 – Unique trade identifier for the EA.
NFP News Filter
- NFP_FILTER: false – Main NFP filter disabled.
- EnableNFP_Filter: true – Functionality is available but main filter is off.
- AutoGMT: true – GMT offset automatically detected.
- GMT_OFFSET_Winter / Summer: 2 / 3 – Winter/summer timezone offset.
- NFP_CloseOpenTrades: true – Trades are closed before NFP news.
- NFP_MinutesBefore / NFP_MinutesAfter: 100 / 60 – Disabled trading 100 minutes before and 60 minutes after NFP release.
Exclusive Settings & Lot Control
- AdjustEntry / AdjustSL / AdjustTP / AdjustTrailSL / AdjustTrailTP: 0.0 – No manual adjustments; defaults are used.
- BreakEven: false – No automatic breakeven.
- Manual SL/TP: 0.0 – No manual stop-loss/take-profit.
- MaxAllowedTOTALDrawdown: 30.0% – Maximum allowed total drawdown.
- WeightedLotSize: true – Lot size fluctuates in proportion to account balance.
- MaxRiskPerStrat: 3.0% – Maximum risk per strategy.
- SetMaxDAILYDrawdown: true – Daily drawdown limit enabled.
- UseEquityInsteadOfBalance: false – Drawdown on balance, not equity.
- CheckFreeMarginBeforeTrading: true – Free margin checked before trading.