What does NewsTrader EA do ?
I am a bit confused.
What does NewsTrader EA actually do ?
Does it avoid trading at the news event ? or Does it trade at the news event ?
In other words, I could not find the general description of NewsTrader EA in the first and the second post.
It is trading the news events from this forex news calendar Forex-Tsd Calendar :: Calendars
But I do not understand "trading the news events".
What does this mean ? How can I trade news ?
I have registered to Forex TSD Calendar and I use the indy to display the news event.
News EAs are the tools to trade the price moved by news events.
Just recent example. It was Retail Sales on CAD. News event. High impacted (i am testing high impacted news event only):
Price moved by actual number posted here The Daily, Friday, February 22, 2008. Retail trade
And it is the results of the trade by EA:
It is something about fundamental trading and it is necessary to know a lot o trade the news. It is not as 'attach EA to the chart and forget about'. It is really very difficult. Mostly because it takes log time to analyze every news event and so on.
It is completely different science and it can not be learnt for 1 day or 1 month.
Just read this thread from the beginning. And find some book about news.
- The Trader's Guide to Key Economic Indicators by Richard Yamarone
- The other book which can be usefull in this case:
There are many other books.
The other book which may be usefull is this one:
So the order was issued by human not by NewsTrader EA in your example ?
Why this is called EA not indy.
I am using the Forex_TSD_Calebdar and I presumed that NewsTrader EA does more than Forex_TSD_Calendar because it has EA in its name. If this EA is to display news calendar, there should be some description on this because the page which describes this EA and Calendar indy are on the same page.
What is the main functional difference between the Calendar indy and NewsTrader EA ?
Please explain this in detail.
Orders were issued by EA. NewsTrader EA.
Not human. That is why this NewsTrader is EA.
Order were opened and closed automatically without any human participation.
But I can not imagine that you will use this EA without any simple understanding what is forex news events, what is retailed sales for example and without simple analysis about it. That is why I posted the images of the books.
I am trading all high impacted news events with the permanent settings. But if you will use this EA so you will probable want to change the settings every week. To change the settings at least once you should read the books and so on.
EA is trading automatically.
I have some knowledge about those news events, not deep though.
I do not think that all users must have a deep knowlege about these news events to use this EA if this EA issues order.
Additional knowledge will always be beneficial but there is no need to be dogmatic.
My current question is :
Does this EA issue order on what criteria ?
Does it look at the user setting of importance of the news event or a sort of filtering ?
Or is there any algor ithm involved to determine sell or buy ?
Does this EA recognize difference of diffrent news events ?
EA is trading news events in this calendar Forex-Tsd Calendar :: Calendars
I am making this calendar. So, it is traded my calendar. But you can create your calendar if you want here Forex-Tsd Calendar :: Calendars or use mine. EA is doing it automatically: EA is connecting with the calendar and using news events, impact and time.
Currency, low/medium/high impacted news, how many buy/sell combination you want to use, how many minutes before the news the pending orders will be opened, when to close and so on. Open EA in MetaEditor and you will see the description of all the settings.
Yes, You may use my settings (see 1st post of this thread), or you may create yours. Most advanced version is #6 for different settings with different news event.
I am testing v 5.3 as I do not have time to analyze any single news event concerning the different settings and that is why I am not testing the version #6 (it is the version with different settings for different news event switching automatically betwen each oher) . I am testing 5.3 version with the settings from the first post of this thread.
No. Both sell and buy will be opened as pending order. If one pending order will be opened so the other one will be deleted. But it is also optional in the settings concerning deleted or not, when to delete and so on. Everything related with pending orders (sell stop and buy stop) and you can regulate this subject by increasing/decreasing the gap between the pending orders, take profit and so on, how many pending orders per pair, when to open pending orders (2 minutes before every news event or 3 minutes after for example) and so on.
Impact, time and currency combination.
CAD and Retail Sales (high impacted news). So, EA will know the following:
- time for news event;
And all the filters in EAs settings are concerning this 3 subjects with many variations (currency, impact and time).