Gold Reaper
- Indicateurs
- Version: 3.0
- Activations: 5
XAUUSD Reaper Dark Bands
XAUUSD Reaper Dark Bands is a counter-trend indicator for gold (XAUUSD) on MetaTrader 5. It draws adaptive volatility bands around price and gives a signal when price stretches beyond a band and then closes back inside it. Each signal is graded A, B or C according to how many confirmation filters agree, and comes with ATR-based stop loss and take profit levels drawn on the chart.
All signals are confirmed at bar close. The indicator does not repaint, so historical signals stay exactly where they appeared.
How it works
The indicator plots two bands:
- Upper band: EMA plus ATR multiplied by a factor. When price touches or breaks above the band and then closes back below it, a sell signal is generated.
- Lower band: EMA minus ATR multiplied by a factor. When price touches or breaks below the band and then closes back above it, a buy signal is generated.
Because the bands are based on ATR, they widen when gold is volatile and narrow during consolidation, so the same settings can be used across different market conditions.
Signal grading
Each signal is checked against three filters: RSI in the overbought or oversold zone for the signal direction, tick volume above its average, and agreement with the trend on a higher timeframe (H1 by default).
- Grade A: all three filters agree. Alerts for grade A signals are always sent.
- Grade B: two of the three filters agree.
- Grade C: band touch only, shown in grey for information. Use it only with your own additional confirmation.
Signals are labelled on the chart, for example SELL [A] or BUY [B].
Features
- Adaptive EMA and ATR bands.
- A, B and C signal grading.
- RSI filter with separate overbought and oversold levels.
- Tick volume filter.
- Higher timeframe trend filter (default H1).
- Three ATR-based take profit levels and one stop loss level, each of which can be shown or hidden.
- News filter that blocks signals around high-impact USD, EUR and GBP events, with a countdown to the next event.
- Popup, sound, push and email alerts that include the grade, entry and all levels, with an option to alert on grade A signals only.
- Optional dark chart theme.
Dashboard
The on-chart panel shows:
- The current signal (buy, sell or none), its grade and the time since it appeared.
- Entry, take profit and stop loss levels.
- The status of each filter (passed or failed).
- Signal statistics for the chart history: win rate, number of signals by grade, wins and losses.
- News filter status and the next scheduled event.
- Current ATR, spread and band prices.
How to use
- Attach the indicator to an XAUUSD chart on M1, M5, M15, M30 or H1. The bands appear once enough bars are loaded for the EMA and ATR.
- Compare the win rate shown on the dashboard across timeframes to see which one has performed best recently on your broker’s data.
- Focus on grade A and B signals. Enter at the close of the signal bar, place the stop at the stop loss line and use the take profit levels as targets. A common approach is to move the stop to breakeven after the first target is reached.
- Check that the news filter shows clear before entering. When it shows blocked, a high-impact event is within 30 minutes.
- If the win rate on your timeframe falls noticeably, consider another timeframe or wait for conditions to change.
Requirements
- Symbol: XAUUSD or your broker’s gold symbol.
- Timeframes: M1 to H1.
Support
Questions and feedback are welcome in the product comments or through MQL5 private messages.
Risk notice
The win rate shown on the dashboard is calculated from historical signals on your chart and does not guarantee future results. Trading gold with leverage involves significant risk.
