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Advanced News Trader

This EA can not be backtested but you can find the Demo Here: https://www.mql5.com/en/market/product/19662

The Market is mostly moved by sentiment arising from Macroeconomic releases, in some cases these releases drive the market very far and in other cases it results in a slight change in the market. The system provides 2 strategies for trading the news, it allows;

Before Placing EA on chart, go to Tools Menu, Click on Options and Under Expert Advisor Tab, Check Allow WebRequest from URL and enter this URL: http://ec.uk.forexprostools.com


Deviation Trading

In this case the user looks for the news release he plans to trade on the EA's display board, he enters the deviation for a buy signal and the deviation for a sell

For Example you wish to trade Consumer Confidence on EURJPY chart, the forecast is 8.0, and you want to buy EURJPY when it is 9.0 and above and sell when it is 7.0 and below

Then your Buy Deviation will be 1 and Sell Deviation will be -1, after entering these values tick the box in front of the news release.


Straddle Trading

This is the more common news trading technique but it is more advanced here because you can choose to straddle only if a deviation is reached but if you do not care about the deviation, put 0 in both buy and sell deviation and tick the news release.


Parameters

  • Distance: Straddle Distance In Points; This is the distance between the current price and the buystop/current price and sell stop when using straddle strategy
  • ExpMinute: Pending Orders Expiry Time; This is how long a pending order will remain open if price does not trigger it
  • TimeDelay: Delay before order, sec; This causes a delay after news release before trade is opened (Measured in Seconds)
  • Lot : This is your Order Lotsize
  • Breakeven Start: Profit in Points to start Breakeven
  • Fix profit: Points to lock when Breakeven start is reached
  • Start trailing: Profit in points to start trailing stop
  • Trailing Stop: Initial profit to lock
  • Trailing Step: Progressive Profit increment value
  • Buy Strength: Minimum Strength of currency to be bought
  • Sell Strength: Maximum Strength of currency to be sold
  • Martingale Multiplier: Martingale increment factor
  • Martingale TakeProfit
  • Martingale Distance: Distance between martingale trades
  • Martingale Max Levels: max trades for martingale
  • Hedge TakeProfit
  • Hedge Range: Distance between hedge trades
  • Hedge Max Trades: max trades for hedge
  • Hedge Multiplier: Hedge multiplier

Other Functions of the EA Include:

  • Currency Strength Check Before Deviation Buy/Sell Entries: if 7 is entered as buy strength and 4 is entered as sell strength for EURJPY; EA will only Buy when EUR is at 7 or stronger and JPY is at 4 or weaker
  • Trailing Stop
  • BreakEven
  • Martingale
  • Hedging

The EA comes with a set up manual, a news deviation trigger-sheet which contains major news releases and their Buy/Sell deviations

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