ETH Reaper

Overview

ETH Reaper is an Expert Advisor for MetaTrader 4 designed for ETHUSD-type symbols.
It evaluates signals on new bars and combines a Stochastic crossover with a Bulls Power filter for entries.
Position management includes Stop Loss, Take Profit, and an optional trailing stop when Stop Loss is enabled.
Additional protections are available for spread, exposure limits, daily limits, and account-level safeguards.
A built-in News Filter can pause new entries around selected events when enabled.

What the EA Does

On each new candle, the EA checks session availability and the active protection rules.
If there is no open position for the current symbol and Magic Number, it evaluates entry conditions.
Long/short entries are based on a Stochastic main/signal crossover, confirmed by a Bulls Power threshold.
When opening a trade, it uses the configured lot size and places Stop Loss / Take Profit if enabled.
While a position is open, the EA monitors a candle-sequence exit rule and can close when the condition appears.
If trailing stop is enabled, the EA can adjust the Stop Loss level as price moves.

Key Features

• Stochastic crossover entry logic (main vs signal line)

• Bulls Power filter for entry confirmation

• Candle-sequence exit based on consecutive bullish/bearish candles

• Stop Loss / Take Profit (set 0 to disable)

• Optional trailing stop (requires Stop Loss > 0)

• Entry protections: spread limit, max open positions, max total lots

• Daily and account protection limits (suspends new entries and may close an open trade)

• Optional News Filter with currency and impact selection

Risk Management & Safety Notes

Trading involves risk, and market volatility can lead to losses.
Crypto CFD conditions (spread, slippage, execution) differ by broker and can change during active sessions.
Stop Loss, Take Profit, trailing stop, and protection limits are user-defined; validate values for your symbol specification.
If Stop Loss is disabled, trailing stop will not be active.
The News Filter requires enabling WebRequest permission in the terminal for the news host used by the EA (shown in terminal messages when needed).
Always test on a demo account first and evaluate behavior with your broker’s data and execution conditions.

Inputs

Core Settings

• Magic_Number: unique identifier for the EA’s orders

• Entry_Amount: trade volume (lots)

• Stop_Loss: SL in pips (0 = disabled)

• Take_Profit: TP in pips (0 = disabled)

Indicators

• Stochastic: K period, D period, smoothing period

• Bulls Power: period, trigger level

Exit Condition

• Min candle body (pips): minimum body size to count a candle

• Consecutive candles: number of consecutive candles required for the exit signal

Protections & Filters

• Max_Spread: maximum allowed spread (0 = no limit)

• Max_OpenPos: maximum open positions across all EAs (0 = no limit)

• Max_OpenLots: maximum total lots across all EAs (0 = no limit)

• MaxDailyLoss / Max_Daily_DD / Daily_Reset: daily limits and reset hour

• Min_Equity / MaxEquity_DD / Max_Equity: account protection thresholds

News & Display

• News_Priority and News_Currencies: impact level and currencies to monitor

• News before/after minutes: pause windows around events

• Pos_Stat / Robot_Stats: on-chart information panel options

Setup

1. Install the EA in MT4 and restart the terminal (or refresh the Navigator).

2. Open an ETHUSD (or broker-equivalent) chart and set timeframe to H1.

3. Attach ETH Reaper to the chart and enable Algo Trading.

4. Set Entry_Amount and review Stop_Loss / Take_Profit according to symbol digits and broker stop-level rules.

5. (Optional) Enable trailing stop by keeping Stop_Loss > 0 and ensuring trailing is enabled in the EA.

6. (Optional) Configure protections (spread/exposure/daily/account) before running.

7. If using News Filter, allow WebRequest for the required news host as instructed in the terminal messages.

Recommended Evaluation

Run the EA in Strategy Tester to observe order placement, SL/TP handling, trailing stop behavior, and exit timing.
Use your broker’s historical data and realistic spread settings when available.
Verify symbol specification details (digits, minimum stop distance, trading hours) to avoid rejected orders.
Then forward-test on a demo account to check execution, slippage sensitivity, and any News Filter permissions.
Review the Experts and Journal tabs for messages related to protections, trading permissions, or WebRequest access.

Compatibility

Platform: MetaTrader 4 (MT4).
Symbol: intended for ETHUSD-type instruments; broker symbol names may vary.
Timeframe: designed for H1; other timeframes should be evaluated separately.
Operation: one position per symbol per Magic Number; multiple charts are possible with different Magic Numbers.

FAQ

Q: Does it use grid, martingale, or averaging?
A: No. It opens a single position per signal using the lot size you set.

Q: Can I disable Stop Loss or Take Profit?
A: Yes. Set Stop_Loss and/or Take_Profit to 0 to disable them.

Q: Why is trailing stop not working?
A: Trailing requires Stop_Loss > 0 and trailing enabled. Also confirm broker stop-level constraints.

Q: What triggers the exit?
A: The EA checks for a sequence of consecutive bullish/bearish candles meeting the minimum body-size rule.

Q: Why are entries blocked sometimes?
A: Protections may block entries due to spread/exposure limits, daily limits, account protection thresholds, or an active News Filter window.

Q: How do I get support?
A: Support is provided via MQL5 comments or MQL5 messages.