FRZ News Guard
This is an EA utility that protects trades from sudden sharp movements due to high impact news releases.
It will automatically download high impact news schedule from investing.com and then if there is any trade going on, it will shrink the stop loss to a specified pips before specified no of minutes before the news release. Further it will move the stop loss to the original level after some specified no of minutes.
For instance , lets assume that there is a trade with 50 pips stop loss and a high impact news is coming on the way in minutes. Then we can set this EA to shrink the stop loss to 15 pips two minutes before the news time and if the stop loss is not hit, then revert the stop loss back to 50 pips two minutes after the news release. This can save 35 pips as the news can go against you and even hit your 50 pips stop loss.
It will automatically capture the applicable news releases based on the chart currencies while USD news will be applied to all charts. Further, it will automatically adjust the time as per brokers time.
Optional Weekend Fluctuation Guard
Sometimes, there can be major fluctuations of prices arising on the weekends news and events. In such cases, you might experience large price gaps between Friday close price to Monday open price. This can cause a risk for trades. If you enable this option, then the stop loss will be shrinked 5 minutes before the Friday close and then the stop loss will be reset to original level after 5 minutes of the Monday open.
Please make sure following URLs are allowed under Tools=>Options=>Expert Advisers in your MT4
Please load the EA only when the forex market is running.
NB: We recommend ICMarkets as a broker. If you like, you may use our Introducing Broker (IB) code "23649" in ICMarkets registration or transferring existing accounts to receive a life time discounts on broker commissions and spreads.
- For Raw Spread accounts, ICMarkets normal commission rate is $7 per lot but if you are under our IB code, you are charged only $5.5 per lot forever. You save $1.5 per lot forever (And spread will remain the same as before).
- For Standard Accounts, you get a 0.3 pips discount on the normal spread on each trade forever.
If you are already an ICMarkets customer, you can simply ask ICMarkets to transfer the existing account under our IB code. This discount will be automatically given to you immediately after you have registered or transferred your account under our IB code. There is no catch here. Your other terms and conditions remain the same as before. You can get out of our IB any time by informing ICMarkets.
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