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Take a Break

The basic idea behind Take a Break is being able to use any EA or indicator you like, pause their operation during news releases, times of increased spreads or time-based and resume their normal operation afterwards.

To prevent unprotected trades, Take a Break will pause your external EAs only when they are not in the market during such times (= no open trades of the external EA).
If the external EAs are in the market already, the utility will pause them after all their open trades were closed - either manually or by their own algorithm.

Example: Let's assume you have a Scalper EA that uses Pending Orders for trading. Usually, this systems works well but you don't feel comfortable about trading during a particular news event, e.g. the NFPs (Non-Farm Payrolls). However, your Scalper EA does not come with a built-in news filter so that you need to stop its operation manually every time. This is where Take a Break comes into play as it will pause your EA's operation automatically by 3 different filter criterias and continue trading afterwards.

Main features

  • Works with any Expert Advisor or Indicator
  • 3 built-in filters for protecting your trades:
    • news filter
    • spread filter
    • time filter
  • Easy to set up

How to set up

  1. Add the URL http://ec.forexprostools.com to the list of allowed WebRequest URLs (press CTRL+O, tab Expert Advisors)
  2. Set up your favourite EAs and Indicators for any symbol
  3. Right-click on the chart, select Template >> Save Template (use the default /templates/ directory)
  4. Apply the Take a Break EA on the chart and set the EA parameter Show current Chart ID = true
  5. Copy the displayed Chart ID and re-apply your template (right-click, select Template >> Load Template)
  6. Open another chart for your chosen symbol and apply the Take a Break EA on it
  7. Configure the EA parameters as you like and remember to set the following parameters:
    • --- Chart Settings --- section:
      • Chart ID (for templates): the Chart ID copied in step 4
      • Apply this template if trading is NOT allowed: any template that should be applied when trading is NOT allowed (preset: default.tpl)
      • Apply this template if trading IS allowed: the name of the template you saved in step 2 (example: My_Favourite_EA.tpl)
    • --- External EA Settings --- section:
      • External EA - Magic Number: the Magic Number of your external EA (for identifying trades)
      • External EA - Delete Pending Orders: whether Pending Orders of your external EA should be deleted or not
      • Pending Orders are deleted only when there are no open Market Orders of this EA (as some EAs use Pending Orders as recovery trades).

Other Parameters

--- News Settings ---

  • Pause during Low Impact News: enable/disable filtering by Low Impact News
  • Pause before Low Impact News (minutes)
  • Pause after Low Impact News (minutes)
  • Pause during Medium Impact News: enable/disable filtering by Medium Impact News
  • Pause before Medium Impact News (minutes)
  • Pause after Medium Impact News (minutes)
  • Pause during High Impact News: enable/disable filtering by High Impact News
  • Pause before High Impact News (minutes)
  • Pause after High Impact News (minutes)
  • Pause during Non-Farm Payrolls: enable/disable filtering by the Non-Farm Payrolls
  • Pause before Non-Farm Payrolls(minutes)
  • Pause after Non-Farm Payrolls (minutes)
  • Maximum Spread (0 = not used): spread filter, set to "0" for disabling it
  • Draw News Lines on Chart
  • Line Color - Low Impact News
  • Line Color - Medium Impact News
  • Line Color - High Impact News
  • Line Width
  • Line Style
  • News for current symbol only: if set to "false", ALL news will be taken into account - even those that may not directly affect the current symbol

--- Time Settings ---

  • Use Time Filter (broker time): enable/disable filtering by time
  • Monday trading - start hour
  • Monday trading - start minute
  • Friday trading - stop hour
  • Friday trading - stop minute

Feedback, improvements or enhancements are appreciated.

If you need any assistance, please contact me.

andrewmok1101 2018.06.08 15:13 

Take a Break is a useful news filter, and author provide a good service ( teach me about the ea)

Version 1.20 2018.10.02
Major improvements:
- Improved time filter: you can now add unlimited time ranges for every weekday (including weekends for Bitcoin/Crypto trading). To do so, specify them as ranges and separate them with a comma like this:

10:00 - 18:00,20:00 - 22:00,04:00 - 06:00

Please note that the specified time ranges must be terminal/broker time in order to work properly.

Minor improvements:
- Changed default value for parameter "GMT offset of your broker" to "2" for upcoming winter time
- Added parameter "External EA - Close all open trades if trading is not allowed" (disabled by default - use with caution)
Version 1.10 2018.07.16
Bug fixes:
- Some changes to input parameters needed a complete reinitialization of the EA before they were reflected properly

- Changed the EA operation to use a millisecond timer instead of ticks