NewsCatcher Lite Expert Advisor is meant for trading on Forex markets using MetaTrader 4 platform. NewsCatcher Lite can choose the most suitable entry point when volatility rises, opens trades, trails them and closes by take profit or trailing stop.
NewsCatcher Lite is not 100% automated. However, this EA can significantly simplify the tasks of a trader who relies on news. NewsCatcher Lite is not a simple script, which executes operations according to commands from a trader. It is a good trading strategy based on price reversals.
RSI (relative strength index) indicator is not utilized in the algorithm of automatic opening and closing of trades; it indicates zones of overbought and oversold markets.
Technical analysis takes into account price levels, whereas the price moves from one level to another. One global feature of these movements is that the price first tests a level before overcoming it. It means that price touches the level and moves backwards creating a point of reversal (or a price reversal). Such reversals take place regularly on any time frames and instruments and constitute the very nature of oscillatory movements of the price.
Usually, a trader may only guess where the price is going to create another point of reversal. Trader may only forecast a probable entry point, whereas real market order is almost certain to be premature.
This is where NewsCatcher Lite comes in handy. Upon reaching a level specified by the dashed line (which may be moved manually), the EA memorizes the current level and automatically pushes the line further. The price keeps on moving, it is not a reversal yet, so the EA keeps on moving the line. As soon as the price stops moving in this one direction and makes a sure reversal, NewsCatcher Lite closes a cycle and opens a trade. So an automatic entry by the EA NewsCatcher Lite will always be more precise than a manual one performed by a trader. This is especially true because during a period of increasing volatility you have to open multiple trades, and the EA executes this task better, as it is not bearing any emotional burden.
EA is recommended for use with any currency pairs and any timeframes. Amount of orders can set as a fixed value or as a percentage of the equity (specifying the % symbol at the end). It can be combined with other strategies and used with multiple charts. NewsCatcher Lite always works only with its own trades.
NewsCatcher Lite is very handy as all operations can be controlled using special buttons placed on the chart.
Entry is done on the fly (without pending orders). Closing is done by take profit or trailing stop calculated automatically. NewsCatcher Lite can also close a trade once it reaches a zero profitability. This function is helpful when you don't have time to wait an appropriate time to close one or multiple trades.
Upon purchase, you may request a detailed 13-page help file (Enlish version).