Eternal Engine EA Review: An In-Depth Look at Wei Tu’s Advanced Expert Advisor for MT4 and MT5

Introduction

Eternal Engine EA, published on 28 November 2023, is the latest addition to the world of automated Forex trading. Created by the developer Wei Tu, this Expert Advisor (EA) aims to provide traders with a robust and versatile trading tool. Leveraging multiple indicators and strategies, Eternal Engine EA promises numerous trading opportunities with a strategy that has proven itself in real market conditions. Whether you’re a novice or an experienced trader, this EA claims to offer an exceptional trading experience.

In this comprehensive review, we’ll explore the features, performance, and pros and cons of Eternal Engine EA to help you determine if it’s the right tool for your trading needs. At CheaperForex.com, where we have an extensive marketplace for trading products, we aim to provide you with an unbiased and thorough analysis.

Features and Functionality

Versatile Currency Pairs and Timeframes

Eternal Engine EA is designed to be versatile, supporting multiple currency pairs including GBPUSD, EURUSD, AUDCAD, and AUDNZD. This flexibility allows traders to diversify their trading portfolios and capitalize on various market conditions. Additionally, the EA can be loaded on any timeframe, making it adaptable to different trading styles and strategies.

All-Day Trading

One of the standout features of Eternal Engine EA is its ability to trade all day. This means it can operate continuously, identifying and executing trades 24/7. This capability ensures that trading opportunities are not missed, regardless of the time of day.

Customizable Settings

Eternal Engine EA offers a high degree of customization, allowing traders to tailor the EA to their specific needs. Key customizable features include:

  • Grid Distance and Volume Multiplier: Traders can set the grid distance and adjust the volume multiplier to suit their risk tolerance and trading strategy.
  • Number of Symbols: The EA allows customization of the number of symbols that can be traded simultaneously, providing flexibility in managing trading portfolios.
  • Drawdown Range: Traders can set the acceptable drawdown range, enabling effective risk management and control over potential losses.
Eternal Engine EA Backtest
Eternal Engine EA Backtest – Looks Suspicious

Robust Risk Management

Risk management is a critical aspect of any trading strategy, and Eternal Engine EA excels in this area. The EA incorporates multiple means to control risk, ensuring that traders can safeguard their capital while pursuing profitable trades. Despite being based on a Martin strategy, which can be risky, the EA’s design aims to mitigate these risks effectively.

Performance in Real Market Conditions

Eternal Engine EA’s strategy has been tested in real market conditions, boasting a year-long real-time signal with low drawdown. This performance record provides a level of confidence in the EA’s ability to perform under various market scenarios. As of writing, the live signal shows a 91% gain over 52 weeks with only a 7% drawdown, making it ideal for prop firm trading. The EA is also not sensitive to spreads, making it suitable for various platforms and brokers.

Eternal Engine EA Live Signal
Eternal Engine EA Live Signal

Small Capital Suitability

One of the significant advantages of Eternal Engine EA is its suitability for accounts with small capital. This feature makes it accessible to a broader range of traders, including those who are just starting out and may not have large amounts of capital to invest.

Customer Reviews

Customer reviews provide valuable insights into the performance and user experience of Eternal Engine EA. Here are a few examples:

  • sdjikoal (2024.06.29): “Impressive! 5 stars.”
  • shake (2024.06.28): “Currently, Eternal Engine is performing well. It has a high trading frequency, but you can adjust this from low to high. Although it uses a Martin strategy, it’s safe to use, but always be aware of the risks!”
  • Wenham (2024.06.26): “Fantastic! It’s been running for a while with steady profits. I used IC MARKETS and had better results than XM in the signal. The support from the author is very timely.”

These reviews highlight the EA’s strong performance and the prompt support provided by the developer. However, it’s worth noting that there are only five reviews available, which might not be sufficient to form a comprehensive opinion.

Pros

  1. Competitive Pricing: Eternal Engine EA is priced well for an expert advisor with a profitable long-term live signal.
  2. Strong Performance Record: The live signal shows a 91% gain over 52 weeks with only a 7% drawdown, which is ideal for prop firm trading. The EA uses XM Global as the broker, known for its reliability.
  3. High, Medium, and Low Risk Presets: The EA comes with various risk presets, allowing traders to choose a setting that matches their risk tolerance.
  4. Suitable for Small Capital Accounts: The EA is accessible to traders with small capital, making it a versatile tool for a wide range of users.

Cons

  1. No Rental Option: There’s no way to rent the EA to test it out; traders have to buy it and pay the full price upfront.
  2. Limited Reviews: With only five reviews available, potential buyers might want to wait for more user feedback to make an informed decision.
  3. Suspicious Backtests: Some of the backtests look almost too good to be true, raising concerns about their accuracy and reliability.
  4. Uses Grid Trading: The EA employs a grid trading strategy, which can be dangerous and potentially blow up an account if not managed carefully. Grid trading can lead to significant drawdowns during trending markets.

Conclusion

Eternal Engine EA by Wei Tu is an advanced and versatile Expert Advisor designed to provide traders with a robust automated trading tool. Its multiple indicators, customizable settings, and robust risk management make it a compelling choice for both novice and experienced traders. The EA’s strong performance in real market conditions, coupled with its suitability for small capital accounts, adds to its appeal.

However, the lack of a rental option, limited user reviews, suspicious backtests, and the inherent risks of grid trading are potential drawbacks that traders should consider. While the EA’s current performance record is impressive, a cautious approach is recommended, especially for those looking to invest significant capital.

Rating: 8/10

At CheaperForex.com, we rate Eternal Engine EA an 8/10. This rating reflects its strengths in providing a versatile and robust trading tool, but also takes into account the concerns regarding transparency, limited user feedback, and the risks associated with grid trading.

Eternal Engine EA has the potential to be a valuable addition to a trader’s toolkit, especially for those willing to manage its risks and requirements effectively. As always, we recommend conducting thorough research and considering all aspects before making a purchase.

Purchase the Eternal Engine EA – Click Here

FREE Lifetime Product Updates Included.0
There are no products in the cart!
Dismiss