The WayGrow EA is making waves as the go-to tool for traders looking forward to automated trading using MT4 platforms.
This powerful software has been designed to analyze market trends and make trades autonomously, enabling individuals to concentrate on other business areas. With its user-friendly interface and advanced algorithms, WayGrow EA can serve both beginners and experienced traders.
WayGrow EA Strategy
The WayGrow EA applies an envelope indicator to spot potential price breakout zones. Also, it uses a 3-day weighted moving average to assess the market trend.
Using a moving average trading strategy in conjunction with price envelopes can be a valuable tool for making informed investment decisions. By setting upper and lower boundaries based on the moving average, one can track a stock’s performance and get a sense of whether it is overvalued or undervalued.
WayGrow EA Features
- Timeframe: M1, M5.
- Currency pairs: EURUSD, GBPUSD, USDJPY, AUDUSD, NZDUSD.
- Separate take profit and stop loss mode for active and pending orders.
- Weighted moving average filter.
- Applies envelope indicator to determine the buy/sell zones.
- Price slippage and maximum spread protection.
- Built-in money management features.
- Maximum trade limit.
- Beginner-friendly.
WayGrow EA MT4 Settings
- Filter – Signal filter period of the EA.
- Magic Number – Unique identification number of the software.
- TradeComment – Enable/disable the automated trade comment feature.
- StopLoss – Fixed stop loss in pips.
- NoTrade_Profit_yet_Filter – Pending order filter periods.
- NoTrade_Profit_yet_StopLoss – Stop loss for pending orders.
- NoTrade_Profit_yet_Distance – Minimum distance between the current price and the pending order.
- InTrade_Profit_Filter – Active order profit filter period.
- InTrade_Profit_StopLoss – Secondary stop loss for active trades.
- InTrade_Profit_Distance – Secondary take profit target for the active orders.
- Timeout_Pending_Orders – Active period of pending orders.
- Slippage Close – Maximum price slippage to force the exit of an order.
- Trailing – Enable/disable the trailing stop feature.
- Trailing Start – Minimum trailing stop period.
- Trailing Distance – Minimum distance between the price and the trailing stop level.
- Trailing Step – Input the trailing step value.
- Min Lots – Minimum trading lot size.
- Max Lots – Maximum trading lot size.
- Risk – Adjust the risk factor according to your trading strategy.
- Fixed Lots – Minimum fixed trading lot size.
- Use MM – Enable/disable the risk management feature.
- Max Spread Plus Commission – Maximum spread plus commission allowed to activate an order.
- Limit – Maximum open trades at a time.
- MA Period – Moving average period value.
- MA Method – Select the calculation method of the moving average.
- Start Hour – Auto-activation hour of the EA.
- End Hour – Auto-shutdown hour of the EA.
- Indicator to Use – Select the indicator you want to use as a secondary trade signal filter.
- Envelope Timeframe – Set a timeframe for the envelope indicator.
- Envelopes Method – Select the envelope calculation method.
- Env-Upper Price Mode – Price mode for the higher envelope.
- Env-Lower Price Mode – Price mode for the lower envelope.
- Envelopes Period – Input the envelope period value.
- Envelopes Deviation – Deviation period for the envelope.
Conclusion
WayGrow EA has proven to be a reliable and effective tool for traders looking to automate their trading strategies. Its advanced algorithms and features provide a competitive edge in the forex market, allowing traders to make informed decisions and maximize profits. With its user-friendly interface and customizable settings, WayGrow EA is a valuable asset for traders of all skill levels. Overall, the WayGrow EA could be for anyone looking to optimize their trading performance but there are no guarantees on how good or bad it will perform. You might want to take a look at my best forex robots for some other options with verified results.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
