Following your comments and reviews, we have upgraded your favorite assistant for news trading MagicTrader to the Pro version. You can now trade both manually and automatically following a preset strategy.
Remember the main idea: place two opposite stop orders right before release of any important economical news and execute a fast deal in one direction depending on the price movement at the moment of news release.
MagicTraderPro places pending orders at a specified time and starts to modify them at another specified time with every incoming tick until the news release. Order placing and modification distances are set separately. If one order triggers, the second one is immediately deleted. If none of the orders trigger, both are deleted at the specified time.
We have added a new profit trailing parameter - trailing step. Now, if you set the trailing step, the trailing stop does not turn off after activation of breakeven, SL keeps moving with the price in profit area, but it is modified not necessarily with every tick, but with a preset step maximizing your profit with each news release.
The current spread and timer till the preset strategy are displayed on the chart. There is also a message with the volume, by which you can easily calculate and keep a constant % risk for a particular currency pair.
Run the EA on a chart, set the news release time, trading parameters and risk, and MagicTraderPro will do your work strictly following your plan while you rest or do your business.
To trade multiple events during the day, open the charts of required currency pairs and properly pre-configure the EA on each of the charts. If you want to trade multiple events on one currency pair and avoid controlling the process during the day, in addition to appropriate settings for each currency pair, you need to set different Magic numbers on each of the charts (opened separately for each event). The Expert Advisor will manage orders and trades on different charts of the same currency pair separately.
Attention! The EA works with any quotes, but all parameters are adjusted in standard points, i.e. 4-digit quotes.
- Autotrade - enable/disable automated trading;
- Direction - pending orders' direction;
- NewsTime - news release time;
- OpenTime - pending order placing time;
- ModTime - time of pending order modification start (modified with every tick till the news release);
- LifeTime - pending order lifetime if none of the two orders triggered; after that time the pending orders are deleted;
- Lot size, 0 - considered as Risk percent - lot size, if 0 calculated as Risk percent;
- Distance to open Stop-orders, 0 - does not work - distance of stop orders opening, not used if 0;
- Modification of the Distance, 0 - does not work - distance modification, not available if 0;
- Stop Loss;
- Take Profit;
- Risk percent - risk percentage of the deposit;
- Trailing Stop, 0 - does not work - trailing stop, not used if 0;
- Trailing Step, 0 - does not work - trailing step;
- Slippage control - slippage control;
- Breakeven, 0 - does not work - level of breakeven triggering, not used if 0;
- Breakeven plus - breakeven plus.
It is important to carefully set the time parameters to make your strategy work the way you want to. It is recommended to double-check all settings and make sure that automated trading is enabled in parameter Autotrade.