North East Way EA

The North East Way EA is a fully automated “pullback” trading system, which is especially effective in trading on popular “pullback” currency pairs: AUD/CAD, AUD/NZD, NZD/CAD. The system uses the main patterns of the Forex market in trading – the return of the price after a sharp movement in any direction.

Pullback trading works on the basis that price doesn’t move in a straight line. A pullback is a price movement that moves in against the trend. It is a temporary price movement before it resumes back into the main market direction. Pullbacks are sometimes referred to as price correction or retracement. Pullback occurs when the price moves against the opposite direction of the overall trend.

The idea is that you want to wait for the price to “pull back” during a trend to provide you with a better entry price. When the market is moving higher and you anticipate that the move will continue, you want to enter a trade for the lowest price possible.

North East Way EA Features
Fully automated forex trading system based on trading reversals (pullbacks)
MetaTrader platforms
Timeframe: 15-minute charts
Base currency pairs: AUD/NZD, NZD/CAD, AUD/CAD
Additional currency pairs: EUR/GBP, EUR/USD, GBP/USD, USD/CAD, GBP/CAD, EUR/CAD
The developer claims that this EA is not sensitive to spread, slippage or any other broker related variables