Automated trading system of economic news that uses the Straddle strategy (Buy Stop and Sell Stop orders) or places only one pending order (Buy Stop, Sell Stop or Market Trend) and manages the open positions according to the chosen settings, respecting the risk management strategy of trader.
Similar: The similar version can be purchased at https://www.mql5.com/en/market/product/18029. It can trade the news of high and medium impact on the market using only one chart.
Demo: The demo version can be downloaded at https://www.mql5.com/en/market/product/19150. It filters and trades only the news of the GBP, CHF and CNY.
- This version can trade the news of high and medium impact on the market for a specified currency and makes it easier to set different parameters for each traded symbol;
- Automatically downloads and updates the next news event from the Forex Factory site (calendar weekly news);
- It allows setting four strategies to place the pending orders (Straddle, Buy Stop, Sell Stop or Market Trend) with a series of control parameters;
- The pending orders are placed seconds before news release (according to configuration) and are kept floating to protect the strategy against false triggering of price before release of the data;
- It allows informing of the risk of operations in percentage (account balance) or amount, automatically calculates the lot size (does not use fixed lot) and manages the open positions according to the chosen settings.
To download the data of weekly news from the Forex Factory site, add the address of the required server to the list of allowed URLs: Main Menu > Tools > Options, tab Expert Advisors, add http://www.forexfactory.com.
For testing in the Strategy Tester, adjust the value of the input parameter Timezone (GMT Offset) - Testing Mode. The tests do not include all the news, but only those that are released at predefined times in this program.
Summary of Inputs
For some of the inputs, setting the value of zero means that it will not be configured: Take Profit, Trailing, Breakeven, Delete Pending Order(s) After News and Maximum Spread.
- Pending Order(s): strategy for pending orders: Straddle, Buy Stop, Sell Stop or Market Trend (in the latter, if there is no established trend in the current timeframe, no order will be placed);
- Entry Level (Points): distance in points from the entry level of pending orders in relation to the current price;
- Set Order(s) Risk By: select as the risk of operations will be informed: Percentage (account balance) or Amount;
- Order(s) Risk: risk of operations;
- Stop Loss At Entry Level Opposite: select "true" to set the stop loss level equal to entry level of the opposite pending order (only for the Straddle strategy);
- Stop Loss Level (Points): stop loss level in points if "Stop Loss At Entry Level Opposite" is "false";
- Breakeven (Points): it is suggested 30, if your broker allows it;
- Place Pending Order(s) Before News (Seconds): how many seconds before a news release the pending orders will be placed;
- Delete Pending Order(s) After News (Seconds): how many seconds after a news release the non-triggered pending orders will be removed;
- One-Cancels-The-Other Order - OCO: select "true" to cancel the opposite pending order when an order is triggered;
- Maximum Spread (Points): maximum spread in points (if this value is exceeded, the pending orders are not placed or are removed);
- Trade Medium Impact News: select "true" to trade also the news of medium impact on the market;
- Trade Currency News: select the currency of the news that will be traded;
- Timezone (GMT Offset) - Testing Mode: for testing in the Strategy Tester, enter here the GMT offset of your broker. Example: for GMT+3, enter 3; for GMT-5, enter -5, ...
Warning: News trading is risky. It depends a lot on your broker's order filling ability. This tool only trades on your custom strategy. You take the responsibility for the trading result made by your own setup strategy.