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Community Forums Forex EA NorthWest Metatrader 4 EA [V3.3 Update] Download

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  • #10246
    mt299
    Keymaster

    NorthWest EA is a free-to-download automated Metatrader 4 Expert Advisor that employs a well-known trend reversal strategy. Its primary goal is to buy low and sell high, utilizing virtual trades for position entry without relying on indicators.

    Key Features and Strategies

    Core Functionality

    • Trend Reversal Strategy: Aims to identify and capitalize on market reversals
    • Virtual Trade System: Determines optimal entry points
    • Indicator-Free: Operates without traditional indicators
    • Simplified Setup: Uses pre-configured set files for easy implementation

    Advanced Techniques

    1. Virtual Trades: Measures upper and lower trend reversal limits
    2. Virtual Pending Orders: Ensures timely position entry
    3. Grid Averaging: With mild martingale lot sizing
    4. Step Widening: Adapts to market conditions
    5. Partial Position Closing: Reduces drawdown on losing trades
    6. Trailing Stop: Maximizes profit potential

    Risk Management

    • Low Deposit Requirement: Limits risk exposure
    • Low Drawdown: Indicates high accuracy in position opening
    • Patient Entry Strategy: May wait days or weeks for optimal entry points

    Additional Features

    • Multi-Symbol Trading: Optimized for various currency pairs
    • News Filter: Avoids high-volatility events
    • Holiday Control: Manages trading during specific dates
    • Account Protection: Implements cut-loss mechanisms
    • Time Control: Allows user-defined trading times

    Recommendations

    1. Initial Testing: Use a demo account for at least one week
    2. Starting Balance: Begin with $100, adding funds gradually if needed
    3. Currency Pairs: Compatible with 20 pairs, plus Gold and Silver
    4. Optimal Timeframes: Best on M15, M30, H1 (works on all timeframes)
    5. Money Management: Implement regular withdrawals and sound strategies

    Virtual Techniques Explained

    • Virtual Stoploss and Takeprofit: Invisible to brokers, reducing manipulation risk
    • Virtual Close Partial: Calculates profit/loss and closes part of losing positions
    • Auto Lot Sizing: Adjusts transaction size based on specified criteria

    By leveraging these sophisticated virtual techniques and adhering to prudent money management principles, NorthWest EA offers traders a potentially powerful tool for navigating the forex markets. Its focus on trend reversals, combined with multi-layered risk management features, presents an intriguing option for those seeking automated trading solutions. As with any trading system, thorough understanding and careful implementation are key to potential success.

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