News Trading /Fundamentals using MT5
- 2013.03.17
- www.mql5.com
You can look at this summary thread: All about Calendar tab and Macro Economic Events
Thanks for your reply Sergey, very useful and I will dive into it in depth to understand everything in detail about how to implement the code in mql5.
Perhaps though I didnt explain my issue well enough, what am worried is that the most relevant info is actually not included and I am wondering why is that and if anyone has any workarounds?
Namely, for me the forecasted Fed rate decision would be key info for trading any USD pair, but from what I can tell the MT5 calendar only shows that there will be a decision (e.g. today) but no forecast on the fed rate. However it is clear that the market forecast is a 75 points increase as can be found anywhere outside the calendar.
Why is this info not included in the MT5 calendar? I am very surprised as it should be key info and probably easy to include, so I am a bit doubting myself on whether I am missing something about this specifically.
Thanks for your reply Sergey, very useful and I will dive into it in depth to understand everything in detail about how to implement the code in mql5.
Perhaps though I didnt explain my issue well enough, what am worried is that the most relevant info is actually not included and I am wondering why is that and if anyone has any workarounds?
Namely, for me the forecasted Fed rate decision would be key info for trading any USD pair, but from what I can tell the MT5 calendar only shows that there will be a decision (e.g. today) but no forecast on the fed rate. However it is clear that the market forecast is a 75 points increase as can be found anywhere outside the calendar.
Why is this info not included in the MT5 calendar? I am very surprised as it should be key info and probably easy to include, so I am a bit doubting myself on whether I am missing something about this specifically.
There is some official forecast, and there is some forecast which every calendar is doing.
I mean: there is informational calendar, and there is ... such as "trading calendar" where we can trade the news events with.
As to me so I prefer to place two pending orders (buy or sell) with 20 pips between them ...
And there is some NewsTrader EA (free by source code here on the forum, for MT4 ... could not find it now ... I can find it later sorry) which I used for the long time for trading news events (yes, I traded news events for the long time).
Yes, this MQL5 calendar is informational one.
I just hope that it will become the 'trading news events calendar', and if yes - it will be the best calendar for me.
There is some official forecast, and there is some forecast which every calendar is doing.
I mean: there is informational calendar, and there is ... such as "trading calendar" where we can trade the news events with.
As to me so I prefer to place two pending orders (buy or sell) with 20 pips between them ...
And there is some NewsTrader EA (free by source code here on the forum, for MT4 ... could not find it now ... I can find it later sorry) which I used for the long time for trading news events (yes, I traded news events for the long time).
Yes, this MQL5 calendar is informational one.
I just hope that it will become the 'trading news events calendar', and if yes - it will be the best calendar for me.
Ah ok that makes sense, so I guess the current MT5 implementation is more meant for timing the news tactics like exiting before a big event or implementing a straddle strategy like the one you mentioned.
Indeed would be great if they evolve it into a "trading calendar", seems like the next logical step.
On the EA you mentioned, I think I found it, do you mean the second one of the below two links?
https://www.mql5.com/en/code/9549
https://www.mql5.com/en/articles/1502
Also am very curious about your experience doing the straddle strategy on news events, did you get good results with that in live trading?
My understanding form the theory on it is that it can have a big risk of high slippage as your stops get passed due to the high volatility, how did you deal with that? What kind of drawdowns did you experience?
- www.mql5.com
- 2012.11.16
- www.mql5.com
very interesting, thank you!
And how are the results of working with such a robot for work?
I think - this EA should be improved and/or fixed to work with the latest MT4 builds.
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Just wondering a general question if anyone uses MT5 to trade based on the news or fundamentals using automated EA´s of their own (or 3rd party)
I thought it was one of the key benefits of MT5 over MT4 but as I am now just starting to look into it I notice they miss some key information, e.g. looking at the Fed Rate decision today they only inlcude previous rate in the info but no forecast. How can you use that info in an algorithm without the forecast? My understanding is the key is to compare the actual rate vs. the forecasted to understand likely direction of the market reaction on the news.
I am very surprised MT5 doesnt include that information given how it is sold as a key feature.
What am I missing there? Any thoughts or ideas how to deal with that from the more experienced traders here?