I need a simple news EA which is both mt4 and mt5 compatible to trade the news with. It should have following features:
. Automatically look at past high impact news events chart data, and ONLY trade events which caused market to move at least 20-50 pips during the last 2 of those report releases.
. Wait 5-10 seconds after news release to determine which way market is likely going, then immediately buy or sell a market order in that direction.
.Ability to not trade if slippage is to high. For example if report causes market to tank 30 pips in a second do not trade.
. Option to put a set stop loss, take profit, break even, trailing stop after x # of pips in profit.
.option to use martingale and quickly double up lot size in the opposite direction should sl or break even be hit because direction reversed.
. Delete opposite order size if first one was profitable.
. spread monitor which will not enter any trades if spreads widens to much during news.
The more market moving reports EA can gather data on that move 20-50 points min and trade the better. In addition to trading all the high impact reports listed on forex factory that have good past performance There are the below reports I would like it to trade:
1.US jobs report (non farm payroll
3.ISM manufacturing report
4.ISM non manufacturing report
7.Australian GDP (qtrly)
8.Grain Report (qtrly)
9.natural gas report weekly report
EA should be able to be back tested