Alpha FX News Filter
- Indicators
- Version: 1.0
- Activations: 5
Overview
Alpha News Shield is an MT4 indicator designed to help you plan and reduce trading activity around scheduled economic events.
It displays upcoming events on the chart (panel, countdown, and optional vertical lines) and can control terminal-wide protection using global variables.
When the protection window is active, the indicator can set a “trading allowed” flag that other Expert Advisors can read before sending new orders.
Optional auto-close rules can close positions before selected events (if enabled).
The indicator requires an internet connection and WebRequest permission to download the calendar feed.
What the Indicator Does
The indicator downloads economic calendar data via WebRequest and parses upcoming events.
It shows a compact list of upcoming events and a countdown to the next event.
It can draw vertical event lines on the chart at the scheduled time.
When protection is enabled, it sets terminal global variables to indicate whether new trading should be blocked during a configurable time window.
Optional auto-close rules can close positions before events based on your settings (for example, close all or only profitable positions).
Key Features
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On-chart news panel with upcoming events and countdown timer
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Optional vertical event lines for visual reference
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Impact filters (high/medium/low and other categories if provided)
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Currency filters (select only the currencies you trade)
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Terminal-wide protection via global variables (one indicator can protect the whole terminal)
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Optional auto-close before events (all positions or profitable-only, configurable)
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Alerts (popup/sound/email/push if enabled in your terminal)
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Auto-update interval for calendar refresh
Risk Management & Safety Notes
This indicator does not open trades by itself. Trading decisions and execution remain your responsibility.
Trading involves risk, and losses are possible—especially during fast news moves where spreads and slippage can increase.
Auto-close and trading-block logic depends on terminal connectivity, broker execution, and correct time settings.
Calendar availability depends on the data source and your terminal’s ability to connect via WebRequest.
For terminal-wide blocking to work, your EAs must be designed to read the provided global variables before opening trades.
Always test your settings on a demo account first.
Inputs
News & Filters
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Enable/disable event categories (impact levels and other types if available)
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Keyword include/exclude filters (optional)
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Number of upcoming events to display
Currencies
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Enable/disable currencies to monitor (choose only what you trade)
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Option to restrict display/protection to current chart symbol (if provided)
Trading Protection
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EnableTradingProtection (on/off)
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ProtectionMinutesBefore / ProtectionMinutesAfter
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Global variable names used for the trading-allowed and protection flags (if configurable)
Auto-Close
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AutoClosePositions (on/off)
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CloseMinutesBefore
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Close all positions or profitable-only (if provided)
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Close current symbol only or all symbols (if provided)
Display & Chart
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ShowPanel / ShowCountdown
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ShowVerticalLines (on/off)
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Corner/font/size options (if provided)
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Optional chart info (spread, candle time left, daily change if provided)
Alerts
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Enable popup/sound/email/push alerts (as supported by MT4)
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Alert timing before/after events (if provided)
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Custom sound file name (optional)
Setup
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Copy the indicator file to MQL4/Indicators and restart MT4 (or refresh Navigator).
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Attach Alpha News Shield to any chart (one chart is sufficient for terminal-wide protection).
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In MT4: Tools → Options → Expert Advisors → enable “Allow WebRequest for listed URL” and add the domain required by the indicator (shown in the Journal/status text if access is blocked).
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Choose your event filters (impact/categories) and currencies.
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Enable Trading Protection and set the minutes before/after the event for the block window.
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If desired, enable Auto-Close and define what to close and when.
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If you want your EAs to respect the block, ensure they read the trading-allowed global variable before sending new orders.
Recommended Evaluation
Verify that the panel updates and events appear on a live or demo chart (internet/WebRequest required).
Check that the countdown matches your broker time and that event lines align with the expected time on the chart.
Enable protection with a wide window at first to confirm the “blocked/allowed” status changes as expected.
If using auto-close, test on a demo account to confirm which positions are closed and when.
Validate EA integration by confirming your EA skips new entries while trading is blocked.
Review logs in the Experts/Journal tabs to confirm feed updates and any access errors.
Compatibility
Platform: MetaTrader 4 (MT4).
Requires WebRequest and an active internet connection to download calendar data.
Works on live and demo charts; it is not intended for Strategy Tester because online data is required.
Terminal-wide protection requires EAs that check the global variable flag before opening trades.
FAQ
Q: Does this indicator place trades?
A: No. It only displays events and can set protection flags / perform optional auto-close if enabled.
Q: Can it protect all EAs in the terminal?
A: It can set terminal global variables. EAs must be coded to read the “trading allowed” flag before opening trades.
Q: Why don’t I see any news/events?
A: Check WebRequest permissions, internet connection, and whether your filters are too strict.
Q: Does it work in Strategy Tester?
A: It is not intended for Strategy Tester because the calendar download requires online access.
Q: Can I limit protection to certain currencies?
A: Yes, use the currency filter inputs.
Q: Where can I get support?
A: Support is provided via MQL5 comments or MQL5 messages only.
Changelog
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Version history is available in the Market “Versions” tab.
