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Rapid Reaper EA MT4

3

The Rapid Reaper EA is a fully automated hybrid averaging EA that trades in sequences of lot increase and multiplication on both sides of the book. The system trades using market orders with take profits set across trade groups. This EA will work on any pair but works best on GBPUSD and USDCAD on the M5 timeframe. A VPS is advisable when trading with this EA. Check the comments for back test results and optimized settings.

Please note: I have made the decision to give this EA away and many more for free with limited support so that I can concentrate on Custom EA. If you wish to use this EA it will need optimising, and if you feel like sharing your settings please do so in the comments.
View More Products - https://www.mql5.com/en/users/robots4forex/seller#!category=1
Monitoring Signals - https://www.mql5.com/en/signals/author/robots4forex?orderby=gain

Features

  • Fully automated
  • Drawdown risk control
  • Always a stop loss in place
  • Favors high margin accounts
  • Hedge accounts only
  • No grids
  • No martingale
  • All you need is a VPS


Input Settings

Order Settings

  • MagicOrderNumber - unique number for the EA to identify its trades. Any integer.
  • Lots – starting lot. Values from 0.01 to 1.00.
  • LotIncrease – last trade lot addition. Values from 0.01 to 1.00.
  • LotMultiplierPer - starting lot increase per account balance. Values from 1000 to 100 000.
  • LotMultiplierPerMax – limit for lot increase per account balance. Values from 1000 to 100 000.
  • LotMax - maximum lot size for trades. Values from 0.01 to 50.00.
  • BadDrawDownRecovery - enable drawdown recovery, true/false.
  • BadDrawDownRecoveryTrigger - equity drawdown percentage that triggers recovery to be active. Values from 1 to 99.
  • BadDrawDownRecoveryResult - equity drawdown percentage that triggers closure of all positions. Values from 1 to 100.
  • BadDrawDownRecoveryEquityGain - gain of equity to close all positions. Values from 1.1 to 2.0.
  • Slippage - slippage in pips. Values from 1 to 10.
  • AllowNewTrades - turn this off to disable new trade groups, true/false.

Entry Settings

  • TimeFrame - timeframe drop-down selection to lock the EA to a timeframe so that selection of the chart timeframe does not affect the EA. When testing, ensure the tester timeframe is set to the same value.
  • TimeFrameHigh - higher timeframe drop-down selection to lock the EA trend identification to a timeframe.
  • MaxSpread - maximum spread in pips that the EA will trade. Values from 1.0 to 10.0.
  • TargetPips – target gain in pips for groups of trades. Values from 1 to 100.
  • StepPips – minimum pips against a trade group before opening another position. Values from 1 to 100.
  • StopLoss – stop loss per trade in pips. This is only an emergency stop loss, should be set high. Values from 500 to 2000.
  • TakeProfit – can be left as a high figure, positions get take profit updated by the averaging system. Values from 500 to 2000.
  • ExtraSpacingThreshold – number of trades in a group to trigger increased position spacing. Values from 10 to 1000.
  • ExtraSpacingMultiplier – StepPips multiplier when ExtraSpacingThreshold has been reached. Values from 1.1 to 3.0.
  • CounterThreshold – number of trades in a group to increase lots size in hedged positions. Values from 5 to 1000.
  • CounterMultiplier – hedged lot multiplier when CounterThreshold has been reached. Values from 1.1 to 10.0.
  • TradeOnSunday - enable trading on Sunday, true/false.
  • BollingerBandEntry - enable bollinger band entry, true/false
  • BollingerBandPeriod - bollinger band period. Values 1 to 100.
  • BollingerBandStdDev - bollinger band standard deviation. Values 1.0 to 5.0.

Optimization and defaults

Default input values are for GBPUSD M5. If optimizing, optimization of LotIncrease, LotMax, TargetPips, StepPips are needed to find the best results. Use ExtraSpacingThreshold, CounterThreshold and BadDrawDownRecovery to counter drawdown.
Reviews 3
Intet
94
Intet 2019.01.18 21:01 
 

I have been running this EA since July of 2018 on three accounts and with five different currency pairs. It took a few weeks of optimization but have found a really good mix that generates really good and stable returns.

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Profalgo Limited
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Experts
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Marzena Maria Szmit
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Experts
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Experts
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4.78 (23)
Experts
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5 (1)
Experts
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LEE SAMSON
4.71 (7)
Experts
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4.64 (14)
Experts
Strategy Introduction The EA will find the best entry and exit points based on the data trained by the neural network and the current market trend. It includes multiple loss exit strategies to ensure capital safety. Because the market is full of uncertainties, it is impossible to enter at the most ideal point every time. Our EA uses a unique batch entry method, adding up to 5 entry points. Even occasional misjudgments can quickly recover subsequently. Each order has a fixed stop loss (SL) and t
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Experts
EA Black Dragon runs on the Black Dragon indicator. The EA opens a deal by indicator color, then there is the opportunity to increase the network of orders or work with stop loss. IMPORTANT! Contact me immediately after the purchase to get instructions and a bonus! Real operation monitoring as well as my other products can be found here:  https://www.mql5.com/en/users/mechanic/seller      Inputs Value  ·          Open new series – True/False – EA will open another series of orders (enable/d
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AHMED ZABIR SAZOL
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Night Scalper EA is an advanced, fully automated trading system designed to take advantage of evening market movements using a high-probability scalping strategy. Whether you’re an experienced trader or just starting out, Night Scalper offers a powerful tool to navigate lower volatility periods with precision and ease. This expert advisor (EA) utilizes a multi-currency approach while ensuring strong risk management and compliance with NFA/FIFO regulations. Key Features of Night Scalper EA Multi-
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Robots4Forex Ltd
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The Extreme Breakout EA is a fully automated multi currency Expert Advisor that trades time based breakouts and has various options to improve performance. The Extreme Breakout EA trades using pending orders and has the option to enter using market orders if required. View More Products - https://www.mql5.com/en/users/robots4forex/seller#!category=1 Monitoring Signals - https://www.mql5.com/en/signals/author/robots4forex?orderby=gain Designed for USDJPY. Features Fully automated Not sensitive
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The Night Lottery EA is a fully automated Expert Advisor that trades at night and relies on price reversion. The EA trades using market orders and uses time averaging to improve performance. This EA works best on EURUSD using the M5 timeframe. A VPS is advisable when trading this system. Check the comments for back test results and optimized settings. View More Products - https://www.mql5.com/en/users/robots4forex/seller#!category=1 Monitoring Signals - https://www.mql5.com/en/signals/author/r
Custom EA MT5
Robots4Forex Ltd
Experts
Custom EA is a fully automated and customizable expert advisor (EA) designed for traders seeking complete control over their trading strategies. It integrates seamlessly with third-party indicators, offers numerous built-in entry and exit strategies, and includes advanced trade duplication features. Whether you’re automating trades, building a neural network-driven strategy, or copying trades between accounts, Custom EA is the ideal solution for both beginner and experienced traders. Key Feature
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Cristian Mihail Pauna
13028
Cristian Mihail Pauna 2022.09.29 05:52 
 

User didn't leave any comment to the rating

Christo Pietersen
69
Christo Pietersen 2022.06.04 21:37 
 

Bad

Intet
94
Intet 2019.01.18 21:01 
 

I have been running this EA since July of 2018 on three accounts and with five different currency pairs. It took a few weeks of optimization but have found a really good mix that generates really good and stable returns.

Reply to review
Version 1.5 2020.01.06
Added PositionComment option.
Version 1.4 2019.01.14
Stopped AllowNewTrades from affecting averaging positions.
Version 1.3 2018.08.07
Minor bug fixes. Added Bollinger Band entry option.
Version 1.2 2018.07.06
FIxed bug when restarting MetaTrader.