About the North East Way Expert Advisor
The North East Way EA for Metatrader 4 is a profitable Forex trading robot designed to trade the AUDCAD, AUDNZD, and NZDCAD pullback currency pairs.
Additionally, the EURGBP, EURUSD, GBPUSD, USDCAD, GBPCAD, and EURCAD can be traded as well.
This expert advisor only works on the 15-minute chart.
Setup
If you want to trade all aforementioned currency pairs, please add the string exactly as follows in the One chart setup multi-currency mode input (EA properties):
AUDNZD,NZDCAD,AUDCAD,EURGBP*0.5,EURUSD*0.5,GBPUSD*0.5,USDCAD*0.5,GBPCAD*0.5,EURCAD*0.5
If you want to trade the 3 pullback currency pairs only, add the following string: AUDNZD, NZDCAD, AUDCAD.
This fully automated trading robot should work with any Forex broker of your preference.
As always, please use this EA on a demo account first until you fully understand how it works and how it performs over an extended period of time.
Free Download
Download the “North East Way _V1.306_Fix.ex4” expert advisor
Key Features
Pullback Trading Strategy
The EA employs a pullback strategy, identifying price retracements after sharp movements to enter trades, aiming to capture profits from the subsequent continuation of the trend.
Multi-Currency Support
Designed to trade multiple currency pairs, including AUDCAD, AUDNZD, NZDCAD, EURGBP, EURUSD, GBPUSD, USDCAD, GBPCAD, and EURCAD, providing diversified trading opportunities.
Timeframe Optimization
Optimized for the M15 timeframe, the EA aims to balance trade frequency and risk exposure effectively, capturing medium-term price movements.
Risk Management Features
Equipped with adjustable stop loss, take profit, and trailing stop settings, the EA ensures that each trade is managed effectively to minimize potential losses and lock in profits.
Broker Compatibility
Designed to work seamlessly with any Forex broker of your preference, the North East Way EA is versatile and adaptable to various trading environments.
Trading Results
As you can see from the analytics below, the North East Way EA does pretty well and is profitable in the long run (click to zoom).
Trading Chart
The picture below shows the Advanced Moving Average EA attached to the EUR/USD H1 chart.
How the EA Works
- Identifies pullback opportunities after significant price movements.
- Opens trades based on predefined entry conditions.
- Manages trades with adjustable stop loss, take profit, and trailing stop settings.
- Closes trades when exit conditions are met or when the trading session ends.
Download Now
Download the “North East Way _V1.306_Fix.ex4” EA
Parameters & Settings
- Currency Pairs: AUDCAD, AUDNZD, NZDCAD, EURGBP, EURUSD, GBPUSD, USDCAD, GBPCAD, EURCAD
- Timeframe: M15
- Lot Size: Adjustable based on account balance
- Take Profit: Adjustable per pair
- Stop Loss: Adjustable per pair
- Maximum Drawdown: Configurable limit
- Trading Hours: Customizable start and end times
- Slippage: Adjustable tolerance
- Magic Number: Unique identifier for trades
Recommended Trading Setup
- Broker: Any MT4-compatible broker
- Account Type: Standard or ECN
- Minimum Account Balance: $1,000
- Leverage: 1:100 or higher
- VPS: Recommended for 24/5 operation
- Timeframe: M15
FAQ
What is the minimum account balance required?
The recommended minimum account balance is $1,000 to ensure sufficient margin for trades.
Which currency pairs does the EA trade?
The North East Way EA trades AUDCAD, AUDNZD, NZDCAD, EURGBP, EURUSD, GBPUSD, USDCAD, GBPCAD, and EURCAD.
Can I use this EA on a real account immediately?
It’s advisable to test the EA on a demo account first to understand its performance and settings before using it on a real account.
Is the EA compatible with all brokers?
Yes, the North East Way EA is designed to work with any Forex broker that supports MetaTrader 4.
Summary
The North East Way EA offers a robust solution for traders seeking to automate their pullback trading strategies.
With its focus on key currency pairs and effective risk management features, it provides a systematic approach to trading.
Download the EA today and take the first step towards enhancing your trading performance with automated precision.
