Description

FRZ No Nonsense Forex Strategy EA is based on the popular No Nonsense Forex Method (NNFX). NNFX is a strictly rule-based manual trading method with strict risk management techniques. We have created our own EA based on the NNFX method (subject to our own modifications) and we have decided on our algo/indicators and optimal settings after extensive back/forward testing. The EA can be used in daily or H4 charts.

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.
• 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.

Verified Live Account

EA Specs

A good VPS server is recommended for this EA as it needs to be running 24/7 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. We recommend up to 2% per trade. However, if you have enabled the entry price optimization (setting 9), then it is better to reduce this to 1% or 0.5% (low risk).
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. 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.
8. Maximum Concurrent Trades => You can limit the account-wise maximum no. of trades in order to reduce the risk.
9. Optimize Entry Price => IF enabled, the EA may use averaging techniques to optimize the entry price. Please note this is not a rule in NNFX trading. However, this can increase profitability while increasing the risk as well. We recommend having this enabled.

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 recommended pairs for two years (2019-2020) on daily charts.

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.