Help in Programming an EA for News.....
I have a similar method, but I open the order 2 seconds before the news event, and close positions within about 5 or 10 seconds. I think if an EA would do this on every hour and half hour throughout the day, it would get the majority of news events with minimal drawdown. I have been playing with a 4 or 5 pip trailing stop which works well since a spike pushes up quickly and there is little or no retracement until after some pips have been made.
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KRUSHER_15,
There are many EAs based on News. But I'm affraid that all of them are commercial ones.
For example I've found one EA for $17 (mql4 file). It is the most low price.
I don't have this EA because I think it is not difficult to code. I wrote pm to Igorad and hope that he will be able to do it.
This EA ($17 for source code - mql4) is having the following settings (my translation from Russian website):
1. SHour, SMinute - NonFarm Payrolls is at 14:30 according Alpari MetaTrader Time so we are setting the values 2 mintes before: SHour(14), SMinute(28);
2. TotalOrd - Number of pair orders: 1 - one pair orders (buy stop and sell stop), 2 - two pair orders; 1 as default;
3. OrdLife1, OrdLife2 - order life nonexecuted perding orders in minutes (for 1 peding pairs of the orders and for 2 pending pair of the orders if we have second pair of course - see TotalOrd);
4. Range1, Range2 - distance in pips between pending order pruice and the current price;
5. Stop1, Stop2 - Stop loss;
6. Profit1, Profit2 - Take profit;
7. Lots1,Lots2 - Lot size.
I wrote to Igorad and I think he will be able to do it. But if he is busy so I can do (next week because I am doing some excel files for elite EAs testing results now). But as I am not a coder so it will take a long time for me to code. And Igorad is doing it very quickly. But I think any programmer can code it as it is not difficult.
Hi,
some time ago I've developed TimeBreakExpert that opens orders at established time. So I think that it's good base for development of NewsTrader.
This EA is more advanced because use Trailing Stop and BreakEven. I think it's very important for such systems. Now I've made some small changes of code for your needs. Try to test this EA on demo.
Igor
Hi,
some time ago I've developed TimeBreakExpert that opens orders at established time. So I think that it's good base for development of NewsTrader.
This EA is more advanced because use Trailing Stop and BreakEven. I think it's very important for such systems. Now I've made some small changes of code for your needs. Try to test this EA on demo.
IgorIgorad,
I have a question.
Igorad,
What is BreakEven and how to use it?
What is StopTrade (true or false)? What does it mean?
TimeZone is difference between local computer time and Metatrader time, right?
If I have 05:30 according to computer time, and 12:30 according to Metatrader North Fiance time so TimeZone will be 7, right?
It is profitable EA generally.
But it is necessary to optimize the settings. Because i don't know what BreakEven is and StopTrade. Besides I am not sure about the time to open the orders. It may be different time according to backtesting results.
I will try to find the good settings.
Hi,
Concerning BreakEven - EA'll move StopLoss to OrderOpenPrice level if your profit is more this value. So you can use Trailing Stop and/or Breakeven for save your profit.
About TimeZone:
TimeZone = MTtime - Localtime
StopTrade - switch for opening of pending orders, if true - Expert will sleep.
Hi,
Concerning BreakEven - EA'll move StopLoss to OrderOpenPrice level if your profit is more this value. So you can use Trailing Stop and/or Breakeven for save your profit.
About TimeZone:
TimeZone = MTtime - Localtime
StopTrade - switch for opening of pending orders, if true - Expert will sleep.So if I understand BreakEven is the first step of trailing.
And LocalTime is local time in my computer.
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Hi I was wondering if I could enlist the help of someone to help program an EA that would be used
to trade news events.
I have developed a very simple method which I try to use before all major news events, which has
been working very well over the past few months, and I would like to now automate it.
I would really love to automate this method as it makes having to sit in front of the PC when
these major news announcements are coming out plus having a full time job very difficult to
manage.
I thank anyone who may be able to help in advance.
Best Regards....