Description

FRZ No Nonsense Forex Strategy EA is based on the popular NoNonsense Forex Method (NNFX). NNFX is a strictly rule-based manual trading method with strict risk management technique be used on daily charts. We have created our own EA based on the NNFX method (subject to minor modifications) and we have decided on our algo/indicators and optimal settings after extensive back/forward testing. You can  always do a DEMO test before moving to a real account. . (NB: We are NOT connected nor affiliated with NNFX creators and the indicators we use are decided by us based on our own research and there can be modifications to the original rules based on our testing and optimizations).

Salient Features:

• EURO FX VIX: EA will automatically access the EURO FX VIX index from barchart.com and take that figure in deciding on the trading pattern/continuation trades.
• Inbuilt news filter: EA will automatically access upcoming news from investing.com and avoid trading during news times. It also features a news spike guard where SL is tightened during news events if there are on-going trades.
• Week-end fluctuation guard –  Trades that stay over the weekend will also be subject to tightened SL to reduce the risk of large fluctuations during the weekend.
• Related pair avoidance – EA will recognize co-related pairs and avoid having concurrent trades in related pairs in order to reduce the duplication of risks.
• Ranging market identification – EA has a special algorithm inbuilt that can effectively identify the ranging markets and avoid trading in them.

We have included several other algorithms to avoid potentially losing trades and increase profitability.

EA Specs

Product name	FRZ No Nonsense Forex Strategy EA
Current version	10.0
Platform supported	MT4
Timeframes supported	Daily chart
Recommended pairs	EURUSD, EURNZD, AUDNZD, NZDCAD, AUDUSD, NZDCHF, EURJPY, CHFJPY, AUDCHF, USDJPY, AUDCAD, GBPUSD, NZDUSD, GBPAUD, USDCHF, GBPNZD, EURAUD, GBPJPY, USDCAD
Use of risky strategies	No martingale, grids, hedging, averaging or anything such. Just one trade per chart at any given time with pre-defined SL & TP.
No of trades a week	Not many as the EA is based on daily charts. It is recommended to use the EA on all recommended charts to increase trading.
Recommended broker	EA works with any forex broker offering MT4. However, we can recommend ICMarkets. You can get 30% lifetime discount on spreads and commissions if you use our IB code “23649” in ICMarkets new registrations or transferring existing accounts. FRZ No Nonsense Forex Strategy EA Robot
Recommended deposit	You need $500 at a minimum and $1000 is recommended. (2% or less of the balance per trade is recommended)
License	Single purchase includes a license for any two (02) trading account numbers (Two accounts can be either 02 real accounts or 01 demo & 01 real account). You can submit your trading account numbers after purchase. You can submit the two trading accounts numbers within 60 days of purchase. The trading account numbers can not be changed later. Additional licenses can be added at an additional fee. We do not offer refunds or returns. The full terms and conditions are given here. After the purchase, visit this page to submit your account numbers. Existing customers can request free updates here if any (updates are free for a period of six months from the purchase only for the originally licensed account numbers), and additional licenses can be requested here subject to our terms. FRZ No Nonsense Forex Strategy EA Robot
VPS requirement	You need to run the EA 24/5. VPS is recommended unless you can keep your PC running 24/5. We recommend ProfitServer as a VPS provider, which is fast and affordable. 2GB ram VPS is enough for this EA. FRZ No Nonsense Forex Strategy EA Robot
Support	Free remote desktop support for first installation. General live chat/email support thereafter. FRZ No Nonsense Forex Strategy EA Robot

A good VPS server is recommended for this EA as it needs to be running 24/5 on many charts.

Settings:

Detailed PDF Manual will be provided with purchase.

How to Install:

1. Go to MT4>Options>Expert Advisors and tick “Allow web requests for listed URL” and then add following URLs:

• http://ec.forexprostools.com/
• http://worldclockapi.com/
• https://barchart.com/

2. Copy the indicators into the MT4 Indicators folder
3. Copy the EA to the Experts folder
4. Load the EA to each of the charts (Make sure you load the EA when the forex market is active otherwise news filter settings may not get set properly)
5. Change settings if necessary

Setting Explanations:

1. Lot Size => Here you can set the lot size as a % of your account size. By default, it is 2%.
2. Stop Loss (ATR Multiplier) => Stop loss is set a multiplier of the ATR (Average True Range) (not in Pips). For instance, if you put 2 here, that means your stop-loss is two times of your ATR at the time of trade entry. That means if the ATR was 15pips at that time, then the stop loss will be 30pips. (Default SL is 1.5xATR that is what is recommended by NNFX method but you can change it if necessary).
3. Take Profit (ATR Multiplier) => Take profit is also set a multiplier of the ATR (Average True Range) (not in Pips). For instance, if you put 2 here, that means your take profit is two times of your ATR at the time of trade entry. That means if the ATR was 15pips at that time, then the take profit will be 30pips. (Default TP is 1xATR that is what is recommended by NNFX method but you can change it if necessary).
4. Partial Close % up on TP => NNFX method recommend to close 50% of the trade upon reaching initial TP and then moving stop loss to break even. However, if you need it, you can use a different percentage (please use without “%” sign). Generally, in ranging or low volume markets, it can be better to increase this percentage.
5. Trailing Stop (ATR Multiplier) => Once a trade reaches set TP level set under setting 3, it closes a part of the trade set under setting 4, and then stop loss is moved to breakeven. Thereafter, you can set a trailing stop for the remaining portion. NNFX method recommends 2xATR from the original entry price that is the default setting but you can change it in this setting if necessary.
6. Max Spread (Pips) => Here you can set the maximum spread in pips you can allow. If the spread is more than this amount, the robot will not take trades.
7. Allow Concurrent Trades => The EA does not take new trades that are related to the currency pairs of the on-going trades if any in order to reduce the risk. For instance, if there is a EURUSD trade going on EA will not take an AUDUSD trade or EURGBP trade. However, you can ignore this rule if you enable this.
8. EURO VIX => Here you can specify a value of EURO VIX Index. If the index is less than the value given here, the EA will close the trade fully upon reaching TP instead of half-closing. This is something recommended in the NNFX method. The EA will update this index from barchat.com frequently.
9. Shrink Stop Loss during News Times for Existing Trades => You can shrink or reduce the stop loss just before the news time and then revert back (if not SL was not hit) to previous just after the news. This is disabled by default but you can enable it here.
10. Shrink Stop Loss during Weekends for Existing Trades => You can shrink or reduce the stop loss just before Friday day end and then revert back (if not SL was not hit) to previous just after Monday open.
11. Magic Number => You do not need to change this number on different charts. If you change it, EA will consider those differently numbered charts as a different set of trades. We recommend keeping the magic number unchanged for all charts.

Back-testing Results (Backtesting might not work well without special tools/preparations as past news releases and some other features may not work well in backtesting. We recommend you to test it on DEMO instead of backtesting).

Summary of the backtesting on all pairs for two years (2019-2020)

Please note that the past performance of any trading system is not necessarily indicative of future results. Full terms and conditions are given here

NB: We are NOT affiliated nor connected in any manner with the original creators of the NoNonsense Forex method and this product has NOT been endorsed by the original creators of the NoNonsense method in any manner. This EA is simply based on our own research on the possible indicators and settings in accordance with rules introduced under the so-called NoNonsense Forex method subject to modifications based on our research and testing.