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The "NOWORRIES" MT4 Expert Advisor

Why Do we call this Forex Tool the No Worries EA?

This EA will allow you to trade with No Worries about unexpected huge movements in the Forex market.

These unexpected huge movements can come from  * Weekend Gaps, * Volatile, whipsaw, announcements and * General Volatile and whipsaw Price movements

Weekend Gaps can cause huge loses as the price jumps over stops and targets

The Non-Farm Payroll announcement is a always a good example of Whipsaw announcement price account that breaks both ways before deciding on a direction.

So How does the No Worries EA automate

hedging or closing of deals ?

To avoid serious potential losses you can decide to

  1. HEDGE your deals (this requires you to tell the EA when you want to START Hedging and STOP hedging)   or.....
  2. to CLOSE your deals automatically
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If you decide to HEDGE your deals there are 4 ways you can activate hedges.

  • The default is "No new Hedge Entry" which basically turns hedging off while not used.
  • At the market close on a particular day selected (Normally Friday when guarding against the weekend Gap)
  • At a particular time of the day selected ( this is used just before announcements and risk events)
  • At a particular price level ( Some traders prefer to use a hedge than a stop loss )

Start hedging options

Stop hedging options

Once your Hedge activation options are decided on there are 4 ways you can de-activate hedges.

  • On a manual basis (when this is selected you can decide when you want to de-activate the hedge by closing it manually)
  • At the market open on a particular day selected ( normally Monday when guarding against the weekend Gap)
  • At a particular time of the day selected ( normally this is used just after announcements and risk events)
  • At a particular price level
  • the default is "No new Hedge Entry" which basically turns hedging off while not used.

If you decide to CLOSE your deals there are 4 ways you can do that:

  • The default is "Turned Off" which basically turns the functionality off.
  • Before the market close on a particular day selected (Normally Friday when guarding against the weekend Gap)
  • After the market opens on a particular day selected
  • At a particular time of the day selected ( this is used just before announcements and risk events)
  • At a particular price level ( It same effect as having a stop but this can over ride all stops)

The Close all deals option

More information of the EA inputs:

  1. This setting and the options have been discussed above.
  2. Allows you to specify the exact day you want hedging to happen
  3. Allows you to specify how many minutes before the risk event you want the hedge to occur
  4. Allow you to specify the exact time of the risk event.
  5. This setting is if you are using the price level option. Here you specify the price level when hedging will start as the price crosses over or touches this level.
  6. The options for closing hedges have been discussed above
  7. Allows you to specify the exact day you want hedging to stop. The hedge transaction will be closed on this day.
  8. Allows you to specify how many minutes after the risk event you want the hedge to be closed. Also used for weekend gaps to allow for spreads to normalise.
  9. Allow you to specify the exact time of the risk event. That could for instance be the market open on a Monday.

 

10. This setting is if you are using the price level option. Here you specify the price level when hedged transactions will be closed. This is when the price crosses over or touches this level.

11. The Close all transactions option has been discussed above.

12. Allows you to specify the exact day you want transactions to be closed.

13. Allows you to specify how many minutes before the risk event you want transactions to be closed.

14. Allows you to specify how many minutes after the risk event you want transactions to be closed.

15. Allow you to specify the exact time of the risk event.

16. This setting is if you are using the price level option. Here you specify the price level when transactions will be closed as the price crosses over or touches this level.

17. The Hedge or closeout activity setting refers to how many minutes the EA must try to perform the requested activity which could be starting a hedge, closing a hedge or closing transactions.

Time frames and currency setups

The time frame of the chart you load the EA on does not matter but it might be a good idea to use the 15 minute timeframe to see the EA in action. You will have to load the EA onto a chart of the currency you want the EA to manage. If you are trading 4 currencies you will have to open 4 trading charts with the EA loaded for each currency.

Please use the user manual which is downloadable below for much more information about these settings. The user manual also contains some setup examples.

Your purchase entitles you to use the EA on any 2 computers of your choice as often as you like. You can transfer the EA between computers as long as the EA is never active on more than 2 computers at the same time. Additional licences are available for EAFactory at +/- 30% of the full purchase price.

A video overview of the NoWorries EA prior to user testing.


GET THE NO WORRIES EA HERE !!

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New Clients.

New clients can purchase this EA for $65

 

Existing clients.

This EA is free to existing clients. Just log into your EAFactory account and download the EA.

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