The NorthWest EA is a free-to-download automated trading system for MetaTrader 4. It operates based on a proven trend reversal strategy, aiming to buy at lows and sell at highs. Instead of relying on traditional indicators, it uses virtual trades to determine entry points, simplifying the trading process with pre-configured set files.
How NorthWest EA Works
The NorthWest EA employs a straightforward yet effective formula to navigate trend reversals. It incorporates various techniques to maximize profitability while minimizing risks:
- Virtual Trades: Measures the highest and lowest points of a trend reversal to improve entry accuracy.
- Pending Stop Orders: Ensures timely entries by placing stop orders at optimal levels.
- Grid Averaging with Mild Martingale: Adjusts position sizes moderately while spacing out grid steps to control risk.
- Partial Loss Closures: Reduces drawdowns by closing portions of losing positions.
- Trailing Stop: Locks in profits by dynamically adjusting stop-loss levels as trades move in your favor.
This EA is designed for minimal deposits to limit risk exposure. Even in a worst-case scenario, losses are kept small. Whether using a grid or non-grid EA, effective deposit management is crucial to mitigate risks associated with trading. 
Key Advantages of NorthWest EA
- Low Drawdown: High accuracy in entry points minimizes drawdowns, reducing the required deposit size.
- Small Capital Requirements: Enables traders to achieve significant profits even with small initial deposits.
- Patience-Oriented Strategy: The EA waits for high-probability setups, which may result in days or weeks without trades, depending on market trends.
Virtual Trading Techniques
NorthWest EA utilizes advanced virtual trading techniques to optimize performance and avoid common pitfalls:
- Virtual Trades: Identifies trend reversal boundaries for better timing.
- Virtual Pending Orders: Protects pending orders from broker manipulation.
- Virtual Grid: Determines subsequent positions if initial trades encounter losses.
- Virtual Stop Loss & Take Profit: Conceals these levels from brokers, reducing the likelihood of manipulation.
- Virtual Partial Closures: Calculates overall profit and loss to close parts of losing trades, reducing margin usage.
Features of NorthWest EA
The EA incorporates numerous features designed for precision, efficiency, and risk management:
- Martingale & Grid Strategy: Combines grid averaging with a mild martingale approach to control risks effectively.
- Virtual Trading Tools: Includes virtual trades, stop-loss, take-profit, and grid techniques for enhanced performance.
- Trailing Mechanism: Helps secure maximum profits on successful trades.
- Drawdown Reduction: Implements partial closures to limit account drawdowns.
- News Filter: Avoids trading during volatile news events to reduce risks.
- Money Management: Offers fixed or auto lot sizing based on user-defined criteria.
- Multi-Symbol Control: Manages multiple currency pairs for diversified trading.
- Holiday Control: Prevents trading during high-risk periods or holidays.
- Account Protection: Includes a cut-loss mechanism triggered by specific drawdown thresholds.
- Time Control: Allows customization of trading hours for added strategy.
Recommendations for Optimal Use
To maximize the performance of NorthWest EA, follow these tips:
- Start Small: Begin with a minimum balance of $100 and add funds gradually as needed.
- Supported Assets: Compatible with 20 currency pairs, gold, and silver. Pre-configured set files are provided.
- Timeframes: Works best on M15, M30, and H1 timeframes, though it can function on any timeframe.
- Withdraw Regularly: Practice good money management by withdrawing profits consistently.
- Be Patient: Allow the EA time to execute trades, as it prioritizes high-accuracy setups, which may take time to form.
- Recommend running this free forex EA on a VPS (Vultr)
- Low Spread ECN account is also recommended Icmarket and Exness
