No Loss EA V2 – No Indicator, No Price Action strategy for MetaTrader 4 – EA MetaTrader 4
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This is the Updated version of NoLoss EA, made even better thanks to the overwhelming support and feedback from our amazing community in the codebase.
As most of the indicators available in the market are lagging indicators that provide information after some time. This strategy eliminates the need to rely on indicators, candlestick patterns, chart patterns, or any price action. The EA employs a progressive system that I have been using for the past 1 year and have backtested for over 4 years.
Here are the results of the backtest:
Preferred pair: EURUSD
You can set this EA in any timeframe, as it does not rely on indicators, patterns, etc.
Settings:
Parameters: Initialsize: Enter your initial lot size according to your account balance. MaxBuy: The maximum number of open buy positions the EA can place. MaxSell: The maximum number of open sell positions the EA can place. OverallBuyProfit: Set the overall buy profit (combined for all buy orders). OverallSellProfit: Set the overall sell profit (combined for all sell orders). Slippage: Enter your slippage. DistanceBetweenOrders: Set the distance between pips before opening another order in the same direction. NumberofBuy: Enter the number of buy orders needed to trigger the closing of all buy positions at a 0.01 profit. (For example, after 3 buy deals, the EA will automatically close all buy orders when the overall buy profit reaches 0.01.) NumberofSell: Enter the number of sell orders needed to trigger the closing of all sell positions at a 0.01 profit. (For example, after 3 sell deals, the EA will automatically close all sell orders when the overall sell profit reaches 0.01.)
Strategy: This EA uses Progressive and Fibonacci system to cover losses. Here’s how it works:
First, It will open two orders: Buy and Sell. It does not set any take profit or stop loss to prevent market manipulation by some brokers. Instead, it directly closes orders once the direction order (bullish or bearish) makes the overall profit you specified in the settings.
This EA will then immediately open another order in the closed order direction so that you don’t miss any pips.
If the market moves strongly in one direction, let’s say, if the market becomes strongly bullish after the EA opens two orders – buy and sell – the buy order will be closed in profit. But what about the sell order?
This EA will open additional sell orders based on the specified distance between pips you mentioned in ‘DistanceBetweenOrders.’
This means if the ‘DistanceBetweenOrders’ is set to 50 pips, it will open another sell order after the market moves up by 50 pips.
And then close all sell orders when the overall profit from all sell orders combined reaches the target specified in the settings.
If the market unexpectedly becomes trending and the EA opens, for example, 3 deals in one direction, it will close all positions in that direction once the combined profit reaches 0.01.
To cover losses, It use fibonacci system for lotsize example, 1+1+2+3+5+8, and so on. You can also set a maximum buy or sell order to avoid excessive lot size increases.
