ProTrade News Filter EA
- Utilities
- Version: 1.2
ProTrade News Filter EA
Product Overview
ProTrade News Filter EA is a universal news protection utility for MetaTrader 5 that automatically pauses trading activity during scheduled high-impact news events. This EA does not execute trades—instead, it serves as a protective layer that can be used standalone or integrated with other Expert Advisors to prevent trading during periods of elevated market volatility caused by economic announcements.
This EA is designed for traders who want to protect their positions and strategies from unpredictable news-driven price spikes, slippage, and widened spreads. It provides flexible scheduling, currency-specific filtering, and multiple protective actions to suit different trading styles.
Key Features
Universal News Protection
- Manually schedule up to 5 high-impact news events with custom times (HH:MM) and associated currencies
- Automatically pauses trading activity during configurable windows before and after each event
- Works with any symbol and timeframe supported by MetaTrader 5
- Can be used standalone or alongside other EAs via global variable integration
Flexible Currency Filtering
- Filter news protection by major currencies: USD, EUR, GBP, JPY, CHF, CAD, AUD, NZD
- Only activates protection when the current chart's symbol contains a filtered currency
- Skip irrelevant news events to avoid unnecessary trading interruptions
Customizable Timing Controls
- Set pause duration before news events (e.g., 5 minutes prior)
- Set resume duration after news events (e.g., 15 minutes after)
- Enable/disable protection by day of week (Monday–Friday)
- Precise control over when protection activates and deactivates
Multiple Protective Actions
- Pause Trading: Temporarily halt new trade entries during news windows (default behavior)
- Close Positions: Automatically close open positions for affected currency pairs when news activates
- Widen Stops: Instead of closing, dynamically widen existing stop losses by a configurable multiplier to reduce stop-outs from volatility
Real-Time Visual Dashboard
- On-chart panel displays:
- Current protection status (Active/Paused/Disabled)
- Next scheduled news event name and currency
- Live countdown timer until next event
- Configured protective action (Pause/Close/Widen)
- Color-coded status indicators for instant visual awareness
Alerts & Notifications
- Optional visual on-chart alerts when news pause activates
- Customizable alert color and display duration
- Detailed logging in the Experts tab for audit and review
Seamless Integration
- Sets a global variable ( ProTrade_NewsFilter_Paused ) that other EAs can check to coordinate behavior
- Magic Number assignment ensures clean trade tracking if used with position management features
- Lightweight design with minimal resource usage—checks for events only every 30 seconds
How To Use
Step 1: Attach the EA to any chart in MetaTrader 5. The dashboard will appear automatically.
Step 2: Configure news schedule. Enter up to 5 news event times (HH:MM format) and their associated currencies (e.g., "08:30" + "USD" for US Non-Farm Payrolls).
Step 3: Set timing preferences. Define how many minutes to pause before and resume after each event. Enable/disable protection for specific weekdays.
Step 4: Configure currency filters. Enable only the currencies you want the EA to monitor (e.g., enable USD and EUR, disable others).
Step 5: Choose protective behavior. Select whether to pause trading, close positions, or widen stops when news activates. Adjust the stop multiplier if using widen mode.
Step 6: Customize appearance (optional). Adjust chart colors, dashboard style, and alert preferences to match your workspace.
Step 7: Monitor and trade. The EA will automatically activate protection during scheduled news windows. Review the dashboard for countdown timers and status updates.
Input Parameters
News Filter Settings
- EnableNewsFilter: Enable or disable the entire news protection system
- NewsTime1–5 / NewsCurrency1–5: Schedule up to 5 news events with time (HH:MM) and currency code (e.g., "13:30", "USD")
Timing Settings
- PauseBeforeMinutes: Minutes to pause trading before each news event
- ResumeAfterMinutes: Minutes to wait after event time before resuming trading
- PauseOnMonday–Friday: Enable/disable protection on specific weekdays
Currency Filters
- FilterUSD, FilterEUR, FilterGBP, FilterJPY, FilterCHF, FilterCAD, FilterAUD, FilterNZD: Toggle protection for each major currency
Behavior Options
- ClosePositionsOnNews: Automatically close open positions for affected currencies when news activates
- WidenStopsInsteadOfPause: Alternative action—widen existing stop losses instead of closing or pausing
- StopMultiplier: Factor to multiply current stop distance when widening stops (e.g., 2.0 = double the distance)
- ShowNewsAlerts: Enable/disable visual on-chart alerts when pause activates
- AlertColor / AlertDurationSeconds: Customize alert appearance and display time
- MagicNumber: Unique identifier for trade tracking (if using position management features)
Chart Appearance Parameters
- ChartBackground, ChartForeground, ChartGrid: Colors for chart background, text, and grid
- ChartUpColor, ChartDownColor: Colors for upward/downward price elements
- BullCandleColor, BearCandleColor: Colors for bullish/bearish candles
- VolumesColor: Color for volume histogram
- StopLevelsColor: Color for stop level indicators
Chart Display Options
- ShowTicker, ShowOHLC, ShowGrid: Toggle display of ticker, OHLC values, and grid
- ShowBidPriceLine, ShowAskPriceLine, ShowLastPriceLine: Toggle price line visibility
- ShowPeriodSeparators, ShowTradeLevels, ShowTradeHistory: Toggle additional chart elements
- ShowTickVolumes, ShowRealVolumes: Toggle volume display type
- AutoApplyChartSettings: Apply chart settings automatically on initialization
Dashboard Parameters
- ShowDashboard: Enable or disable the on-chart dashboard
- DashboardBG, DashboardText: Colors for dashboard background and text
- DashboardActive, DashboardInactive, DashboardWarning: Colors for status indicators (active/inactive/warning states)
Important Information
Protective Utility, Not a Strategy This EA does not generate trading signals or execute trades. It is designed solely to pause or modify trading activity during scheduled news events to reduce exposure to volatility.
Manual Schedule Required News times and currencies must be entered manually by the user. This EA does not connect to external news feeds or economic calendars. Users are responsible for keeping the schedule updated with relevant high-impact events.
No Profit Promise This EA is a risk management tool. It does not guarantee profits or prevent all losses. Trading during news events carries inherent risks including slippage, requotes, and gap moves that may occur even with protective measures in place.
Risk Disclosure Users are responsible for their own trading decisions and risk management. This EA provides protective actions based on user-configured parameters but does not assess market conditions or trade suitability. Understand the risks of leveraged trading before using this utility.
Testing Recommendation Always test this EA on a demo account before using with real capital. Verify that news schedules, currency filters, timing windows, and protective actions function as expected in your specific trading environment.
Compatibility & Integration
- Designed exclusively for MetaTrader 5. Not compatible with MetaTrader 4.
- Sets a global variable ProTrade_NewsFilter_Paused (1 = paused, 0 = active) that other EAs can read to coordinate behavior.
- Requires a broker account that allows automated trading and Expert Advisor execution.
Data and Logging All activation/deactivation events and protective actions are logged in the MetaTrader Experts tab. Users should review logs regularly to confirm the EA is functioning as configured. The EA does not store or transmit personal trading data externally.
Chart Customization Note Price line colors (Bid, Ask, Last) are controlled by MetaTrader terminal settings, not by this EA. Users must set these colors manually in Tools → Options → Charts if they wish to customize line colors. This EA controls line visibility only.
System Requirements
- MetaTrader 5 build 2244 or higher
- Windows 7 or later operating system
- Broker account with automated trading permissions enabled
- Adequate system resources for running multiple EAs if used in combination
Support
For questions regarding functionality, settings, or usage, please refer to the information printed in the Experts tab when the EA initializes. Additional documentation is available in this product description.
Final Notes
ProTrade News Filter EA is designed to assist disciplined traders with consistent, systematic protection from news-driven volatility. It is not a substitute for trading knowledge, market analysis, or sound risk management principles. Users should ensure they understand all features and settings before relying on this EA with real capital.
This EA does not provide financial advice, trading signals, or market predictions. All trading decisions remain the sole responsibility of the user. Always trade responsibly and within your risk tolerance.
