NewsCatcher Free MT5
The advisor NewsCatcher Free opens trades when the price makes a reversal move from support and resistance levels. Market entries should be confirmed by the Relative Strength Index (RSI). The RSI is implemented as a tachometer.
automatically downloads calendars from 3 sources, opens both instant
and pending orders according to the data received, allows to set up a
strategy for each event and trails its trades.
NewsCatcher Visual automatically downloads calendars from 3 sources, including event descriptions, suggests a preferred direction for a trade, opens market and pending orders by the user's instruction and trails its trades.
NewsCatcher Free automates trades opened at price reversals which are spurred by economic data releases and rising volitality. It can also trail its trades.
It is recommended to use this advisor in a highly volatile market after a political event or a release of major economic data.
You can use this advisor in the semi-automated mode (the RSI performs
an information role) or in the fully automated mode (the RSI decides
when to enter the market). The timeframe for the semi-automated mode
should not be bigger than 30 minutes, for the fully automated mode - H1
It turns out that the semi-automated mode, when you locate the major
support and resistance levels visually, yields a better result.
You can move the thick line (the level chased by the price). The
price must touch the thick line at least once for a trade to be
possible. After that, a thin line appears. When the price crosses the
thin line a trade is opened. Keep in mind that the advisor opens a buy
only in a bullish bar, and a sell in a bearish bar.
You can change the timeframe to see how the current level looks like
in other timeframes. The advisor keeps the current level. To drop the
current level, switch off the buy or sell button.
There are 2 strategies:
1) The Buy Strategy.
The price moves downside and reaches the oversold zone. As you may
know, it is better to buy at the lowest point. But the price may go even
lower. How do you know when the price should make a reversal move? This
is when the advisor NewsCatcher Free comes in handy. If the
price continues to fall, the advisor pushes the thick line (support
level) lower. The advisor waits for the price to make a definitive
reversal move upside and cross the thin line. Only then it opens a buy.
2) The Sell Strategy.
The price moves upside and reaches the overbought zone. As you may
know, it is better to sell at the highest point. As in the buy strategy,
the advisor pushes the thick line (resistance level) higher until the
price makes a definitive reversal move downside. When the price crosses
the thin line, the advisor opens a sell.
The Advisor Properties:
Color preset - you can choose among three available color schemes.
Distance - a distance from the current level for a trade to be opened.
Magic - your magic number.
Volume - use either a fixed value (ex: 0.1) or a percentage of equity (ex: 0.03%).
Stop loss - use points not pips.
Take profit - use points not pips.
Trail - use points not pips.
RSI >> Period of calculation
RSI >> Prices series
RSI >> Bottom level
RSI >> Top level
Comments to the buttons in the chart:
buy - activates the buy strategy. The price should be in the oversold zone, the RSI tachometer in the red zone.
sell - activates the sell strategy. The price should be in the overbought zone, the RSI tachometer in the green zone.
dynamic - activates a search of stop loss and take profit
levels by the nearest bar extrema. These levels may not be closer then
the values of stoploss and takeprofit currently set.
zero - a stoploss is going to be set at the open price line as soon as the trade gets profitable.
sound - activates sounds of a new thin line (a trade is possible), a new trade, a trail move, and a closed trade.
auto - activates the auto mode. In this mode, the advisor buys
when the RSI is in the red zone, and sells in the green zone. The auto
mode switches on and off the other buttons as required. If you click the
buy or sell button in the auto mode, the auto mode deactivates.