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North East Way EA MT4 – Full Input Settings Analysis
North East Way EA is a highly sophisticated fully automatic Forex trading system designed for MetaTrader 4. It is programmed to do exceptionally well in “pullback” trading strategies, focusing on popular currency pairs like AUDCAD, AUDNZD, and NZDCAD. Expert Advisor (EA) makes the most of the main Forex market trends, where prices retract following enormous directional moves. Traded on the M15 timeframe, it has been thoroughly tested to ensure stability as well as profitability across various environments and risk profiles.
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Basic Settings
- OneChartSetup Multi-Currency Mode: Disabled – the EA will trade only individual chart symbols.
- Trade Comment Prefix: new – all trades will have the comment prefix “new” so it is easy to identify.
- First Position Type: Long and Short – the EA will open both Buy and Sell positions.
- Emergency Breakeven Close: Disabled – the trades will not close automatically at breakeven.
- Magic Number Range: 0-99 – allows application of magic numbers between 0 and 99 for trade identification.
- New Year Trading Pause: 14 Days – suspension of trading during 14 days from New Year to avoid excessive volatility.
- Virtual Take Profit: Disabled – the EA uses actual Take Profit levels set on the server of the broker.
Money Management Settings
- Number of Magic Numbers: 0 – unlimited number of magic numbers to use.
- Number of Symbols: 0 – unlimited number of symbols that the EA can trade.
- Equity-Based Trading: Equity – the EA calculates trade volume based on current equity (and not balance).
- Additional Funds (Account Currency): 0.0 – no simulation additional funds are used for money or risk management.
- Fixed Balance (Account Currency): 0.0 – fixed balance mode is disabled; live equity is used instead.
- AutoMM Guidance: Aggressive = 1000, Conservative = 5000 – suggested values if AutoMM is enabled (not utilized in this setup).
- Fixed Lot Size (AutoMM = 0): 0.02 – since AutoMM is disabled, the EA uses a fixed lot size of 0.02 lots.
Averaging & Grid Level Settings
- Recovery Mode: On – the EA will attempt to recover from drawdown using a grid or martingale approach.
- Martingale Ratio: 2.5 – each successive grid level will increase the lot size by a factor of 2.5 (i.e., 0.02 → 0.05 → 0.125, etc.).
- First Actual Order From Level (n ≥ 0): 3 – the EA will begin entering actual trades from level 3 of the grid; earlier levels may be virtual or skipped.