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- Trading Robots
- The Reaper EA
The Reaper EA
Overview of The Reaper EA
The Reaper EA is a sophisticated night scalper designed to trade reversals on nightly ranges across multiple currency pairs. This Expert Advisor (EA) is built with a plethora of filters and safety measures to ensure optimal performance and risk management.Key Features
- News filter to prevent trading during high-impact news events.
- Individual Performance Monitor to adjust risk based on the performance of each pair.
- Correlation filter to avoid excessive exposure to the same currencies.
- Swap filter to prevent trading during high swap-cost days.
- Does not use risky trading techniques like martingale or grid without stop loss.
Recommended Pairs
Setup Instructions
- Run the EA on an M5 chart.
- Enable the OneChartSetup to manage multiple pairs from a single chart.
- Use 'LotsizeStep' as AutolotMode for automatic money management.
- Recommended LotsizeStep values: Low risk: 500; Medium Risk: 250; High Risk: 150.
- Use a low spread ECN broker for best results.
- Minimum recommended account size: $250 for running all 14 pairs, or $100 for a few pairs.
Performance and User Reviews
The Reaper EA has received mixed reviews from users. Some praise its profitability and consistent performance, while others point out occasional drawdowns and the need for regular updates.- 👍 "The algorithm of The Reaper EA is very promising. Since yesterday I already have a profit of +3%." - Andreas Kurt Hans Meyer
- 👍 "I have bought many EAs in MQL5. I will say the reaper is one of the best (if not the best) EA for me." - Yew Tong Giam
- 👎 "Its not that great." - Howard Williams
Conclusion
The Reaper EA is a powerful tool for traders looking to capitalize on nightly market reversals. With its advanced features and user-friendly setup, it offers a promising option for those willing to invest in a reliable EA. However, like any trading tool, it requires careful monitoring and optimization to achieve the best results. 🌟📈
Welcome to the world of automated trading, where promises of easy profits often come with a side of skepticism. Today, we're diving into 'The Reaper EA,' a night scalper that claims to turn nightly market ranges into a goldmine. But does it really? Let's find out. 🌙 **Intro ...
Release Date: 01/07/2021