The EA New Way is an Expert Advisor that uses a unique trading algorithm to execute trades based on the author’s indicator. It can trade on several currency pairs, including EURUSD, GBPUSD, XAUUSD, USDCAD, NZDUSD, and AUDUSD, and is suitable for timeframes of M5 to M15.
In this comprehensive review of the EA New Way, we will explore the strategy, features, and settings of this Expert Advisor. By the end of this review, you will have a better understanding of what the EA New Way is, how it works, and whether it is suitable for your trading needs.
EA New Way Strategy
The EA New Way is an Expert Advisor designed to execute trades on various currency pairs, including EURUSD, GBPUSD, XAUUSD, USDCAD, NZDUSD, and AUDUSD. The EA is designed to work on the MetaTrader platform and can be used on multiple timeframes, including M5 to M15.
The EA New Way strategy is based on three different trading strategies that rely on the author’s indicator to determine the trend. It also uses a unique averaging system to determine the rate of price movement. The EA works by analyzing price data and identifying market trends based on these three strategies.
The first strategy is a trend-following strategy that focuses on identifying the overall direction of the market. The second strategy is a momentum strategy that looks for potential reversals in the trend. The third strategy is a breakout strategy that attempts to capture large price movements when the market breaks out of its current range.
According to the developer, there is a $1000 minimum account balance required for one pair. However, one of the main weaknesses of the EA is that it is optimized for trending markets and may not perform well in choppy or range-bound markets. In addition, it is also prone to false breakouts or whipsaws, where the price briefly breaks the trend before reversing. This can result in losses or missed opportunities.
The EA New Way is an Expert Advisor worth considering for experienced traders who are comfortable with a proprietary trading strategy. However, it is recommended that traders demo test the Expert Advisor before trading with real money to minimize losses. Traders must also exercise caution and proper risk management when using the EA New Way to ensure that potential risks are minimized.
EA New Way Features
- Uses the author’s unique indicator based on 3 trading strategies to determine the trend
- Uses high-risk trading strategies for shorter-term trading
- Contains an algorithm for controlling slippage with full statistics control
- Uses a unique averaging system to determine the rate of price movement
- Can trade on currency pairs such as EURUSD, GBPUSD, XAUUSD, USDCAD, NZDUSD, and AUDUSD
- Works on time frames of M5 to M15
EA New Way Settings
- MMType – Type of money management (Fixed or Proportional)
- LotMultiplicator – Multiplier for lot size calculation
- LotConst_or_not – Use constant lot size or not
- Lot – Fixed lot size if “LotConst_or_not” is enabled
- RiskPercent – Percentage of account balance to risk per trade if “LotConst_or_not” is disabled
- TakeProfit – Take profit in pips
- TrailingStop – Trailing stop in pips
- TrailingStart – Number of pips in profit to start trailing stop
- TrailingStep – Trailing stop step in pips
- Step – Distance between orders in pips
- MaxTrades – Maximum number of open trades
- UseEquityStop – Use equity stop or not
- TotalEquityRisk – Maximum percentage of account equity to risk
- Magic – Unique identifier for the EA’s trades
- ShowTableOnTesting – Display backtesting results in a table format
EA New Way Summary
The EA New Way is an Expert Advisor that can execute trades on various currency pairs on the MetaTrader platform. It uses three different trading strategies based on an author’s indicator to determine the trend and a unique averaging system to determine the rate of price movement. However, the EA may not perform well in choppy or range-bound markets and is prone to false breakouts. This forex expert advisor is recommended for experienced traders, and it is important to demo test it and exercise proper risk management.
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