BF News Trader EA

BF News Trader EA Features

• Semi-automated and fully automated modes
• Precise time filter
• High spread detection filter
• Single or multiple-cascade orders modes
• Exit by a trailing stop, or back-tick detection
• Multiple currency pairs support
• Longs only and shorts only option

...If you are into news trading, BF News Trader EA is the best tool for you!

Recommended timeframe: M1

Supported currency pairs: EURUSD, GBPUSD, AUDUSD, USDCAD and USDJPY.

I have prepared set files for each supported pair. Please scroll down to the bottom of the post. You will find all available .set files.

Please, make sure that you have loaded the set files for each individual currency pair!

IMPORTANT: Use “BF News Trader EA” only on well-known ECN brokers with good reputation. If you notice repeatedly unusual spread increase, too high slippage, or execution delay, you should not use BF News Trader EA on this broker anymore.

==== Risk Management ====

• FixedLots - fixed trading volume (works if AutoMM=0).
• AutoMM - values greater than 0 (zero) activate automatic ММ (traded volume as a percentage of free margin).

==== General Settings ====

• Slippage - maximal allowed slippage for position opening.
• MaxSpread - maximal allowed spread for position opening.
• MagicNumber - magic number - it is extremely important to keep this different for all robots.
• StartTrail - value in pips. When trade's profit is equal to this value the EA set trailing stop.
• TrailStop - value in pips. The trailing stop value.
• EA_Coment - text which will be added as a comment to each trade opened by BF News Trader EA.

==== Pending Orders Settings ====

• PlaceOrders_OnInit - true/false - whether to place or not pending orders during initialization of the EA.
• ExitAll_OnDeinit - true/false - whether to close or not all orders during de-initialization of the EA.
• ExitAll_OnInit - true/false - whether to close or not all orders during initialization of the EA.
• CloseOnTradeHour - true/false - whether to close or not all orders before to place pending orders.
• TradeDirection - possible values: -1 only short trades; +1 only long trades; 0 long and short trades;
• AddDistance - the distance between the current price and the first pending order in pips.
• AddStep - the distance between each pending orders in pips.
• AddCount - the number of pending orders to be placed.
• StopLoss - the stop loss value for pending orders. 0 - means not stop loss.
• ExpireMinutes - the expiration time for pending orders in minutes.
• DeleteAfterSeconds - placed pending orders will be deleted X second after the news release (X is value of DeleteAfterSeconds)
• CloseOnReversePips - when there is a reverse X pips then the EA will close all active orders with the idea to protect the profit. (X is value of CloseOnReversePips)

==== What's included in PRO version? ====

News Scope EA PRO includes:

• Money Management
• News Filter
• Placing trades on News
• Additional slots for trading hours
• Email & PUSH Notifications
• Advanced Time Management System

Check the PRO version here!

BF News Trader EA Backtest Results

How to backtest BF News Trader EA

If you wish to back-test BF News Trader EA, first you should download history from the MetaTrader history center: click Tools -> History Center, or press the "F2" key of the keyboard. In the list, find the currency pair that you wish to back-test and double click to expand it. Click "1 Minute (M1)" and then click "Download". When the download process is finished, double click on "5 Minutes (M5)” and "15 Minutes (M15)" to convert the M1 data (repeat this for the rest of the time frames). Close the "History Center" window. Restart the MT4 terminal in any case. Check the below image!

To open the "Strategy Tester" window click the "Strategy Tester" button of the MetaTrader menu, or press "Ctrl+R" on the keyboard. In the "Strategy Tester" window chose BF News Trader EA, chose one of the supported currency pairs, chose M1 timeframe, chose the method "Every tick ...", as shown below. Click "Start" to start the back-test.

Watch video tutorial to learn how to load the .set files in MT4 terminal