Hello friends,
Today I am presenting here one of my Expert Adviser. Pip2Pips Spike Catcher one of my favorite EA for news trading. This EA is suitable for those brokers, where during high impact news time stop order distance never changed or increased. No re quote or very less re quote or off quote applied by brokers. Pip2Pips Spike Catcher is a very smooth and fast EA, this EA coding with very smart and light coding. So, if you place Pip2Pips Spike Catcher EA into a good platform, this EA will never execute unless orders.
We know very well, during high impact news, every broker applied raw or wide spread, sometimes spread goes to 100 t0 400 points i.e. 10 to 40 pips. In this situation, if any order executed, that never get profit and there is a good chance to hit our stop loss. This is why I am using maximum spread in Pip2Pips Spike Catcher EA. Example, if we select it 40 points i.e. 4 pips and market spread is less than 4 pips, order will be placed and EA will be continue, but if spread crossed 4 pip (40 points), EA will automatically delete all the pending orders and will safe account. We saw maximum time, before high impact news, just 1 minute before spread goes to high and then comes to normal position, in this situation, Pip2Pips Spike Catcher will not be place any order or will be deleted pending orders and when market will return to normal spread or under maximum spread allowed, EA will place orders again.
Here I am giving you screen shot for Pip2Pips Spike Catcher EA’s parameters, you can see from here, how to use this EA. All the functions are common, so you can do it easily.
Order Lots: Place your own order lot,
Slippage: keep default “0”,
Distance: This is important, you have to decide, where you want to place your pending orders, normally I am using 100 points / 10 pips distance during high impact news. Suppose, high impact news is releasing, normally this type of news provide 20 to 50 pips spike. That time I am using 10 pips distance. So, Pip2Pips Spike Catcher EA will place my Buy Stop and Sell Stop order exactly 10 Pips far from current market ask+bid price. If you use 4 digit broker, you can use less distance like as 5 to 8 pips. Read More and Download Free.
