- November 2, 2023
- Posted by: Forex Wiki Team
- Category: Free Forex EA
AW Double Grids EA Review
In the world of forex trading, Expert Advisors (EAs) play a significant role in automating trading strategies. One such EA that has gained attention in the forex community is the AW Double Grids EA. In this article, we will delve into the details of this EA, its product description, backtest results, and what makes it worth considering.
Product Description
The AW Double Grids EA is a robust automated trading tool designed to be used on the MetaTrader 4 (MT4) platform. It primarily operates on the H1 timeframe and is compatible with various currency pairs, including AUDUSD, EURUSD, EURGBP, USDCAD, USDJPY, and USDCHF. This EA employs an order grid strategy and can trade around the clock, offering traders flexibility in their trading activities.
Best Brokers List
AW Double Grids EA with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:
It is important to note that this EA was discovered by a member of the Telegram community, highlighting the collaborative nature of the forex trading community. The EA has undergone rigorous testing using the Tick Data Suite with real spreads from Dukascopy quotes, ensuring its reliability.
Before proceeding, it's worth mentioning that the creators of this EA do not endorse or have any association with the EAs they post. Their role is to test these EAs using high-quality quotes and real spreads to identify potentially profitable options. However, successful backtesting does not guarantee profitability on a real trading account, so traders should exercise caution.
Analyzing Backtest Results
To evaluate the performance of the AW Double Grids EA, we will look at two distinct backtests for different currency pairs.
Backtest 1: AUDUSD (Australian Dollar vs US Dollar)
- Period: 1 Hour (H1) from January 8, 2018, to August 22, 2023
- Modeling Quality: 99.90%
- Initial Deposit: $1,000
- Total Net Profit: $20,954.80
- Profit Factor: 2.29
- Absolute Drawdown: $28.82
- Maximal Drawdown: 5.98%
- Total Trades: 975
- Largest Profit Trade: $87.59
- Largest Loss Trade: -$408.76
- Average Profit Trade: $48.12
- Average Loss Trade: -$81.05
This backtest for AUDUSD shows impressive results with a profit factor of 2.29, indicating that the EA generated substantial profits compared to losses. It also boasts a high modeling quality of 99.90%, suggesting that the testing was conducted meticulously.
Backtest 2: EURGBP (Euro vs Great Britain Pound)
- Period: 1 Hour (H1) from January 8, 2018, to August 22, 2023
- Modeling Quality: 99.90%
- Initial Deposit: $1,000
- Total Net Profit: $15,461.27
- Profit Factor: 1.93
- Absolute Drawdown: $127.49
- Maximal Drawdown: 29.27%
- Total Trades: 692
- Largest Profit Trade: $100.55
- Largest Loss Trade: -$640.21
- Average Profit Trade: $57.36
- Average Loss Trade: -$124.83
The backtest for EURGBP also presents compelling results, with a profit factor of 1.93 and a modeling quality of 99.90%. While the profit factor is slightly lower than in the AUDUSD backtest, it still indicates a favorable risk-reward ratio.
Conclusion
The AW Double Grids EA offers an interesting automated trading solution for forex traders. The backtest results for AUDUSD and EURGBP demonstrate its potential to generate profits, with substantial profit factors and high modeling quality. However, as with any trading tool, it is essential to exercise caution and conduct further analysis before deploying it in a live trading environment.
Download AW Double Grids EA
Please try for at least a week an XM demo account. Also, familiarize yourself with and understand how this free forex Tool works before using it on a live account.
Disclaimer: All trading involves risks. It's essential to do your own research and consider seeking advice from a licensed financial advisor before making any trading decisions.
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