FX Exploit News Catcher
All FX Exploit line products is here
FX Exploit News Catcher is a new product in the FX Exploit line. Using the capabilities and experience with the FX Exploit indicator, we have developed this semi-automatic Expert Advisor for news trading.
Advantages over "classic" experts for news trading
- Does not use real or virtual pending orders - no orders are falsely triggered by a wide spread or spikes during news releases.
- Built-in spread filter. Plus, protection against a wide spread during news releases with very high volatility - the EA will shut down to protect from losses.
- Plus, protection against a wide spread during news releases with very high volatility - the EA will shut down to protect from losses.
- There is no need to predict the pair to use for news trading, simply use the EA for the currency that will have news releases. For example, news on GBP, USD or CAD. The EA will open a basket or orders for the pairs with the common currency, where high activity is detected.
- You can open charts of the traded pairs with a click of a button and you can manage positions from the trading panel.
- It is possible to close the basket of orders by the total profit/loss in the deposit currency, set stop loss or take profit for each position, set trailing stop, breakeeven, close by holding time.
- It is possible to open reverse positions with one button Reverse*
How to use this EA
- Find the news release to trade in the economic calendar.
- In the EA settings, find the name of the Currency with the news release (USD, CAD, ....)
- In the settings parameters, manually set the news release time according to the terminal time, using the News Start Hour and News Start Minute parameters - hour and minute of the news release.
- Manually set the tracking interval in minutes in the News Interval parameter. The EA will monitor the market after the news release during this interval.
- By default, the EA trades a basket of orders (1-7 pairs), the number of pairs in a basket is limited by the Pairs Tradingparameter.
- Set the spread filter. If the spread of a pair exceeds this value, the order will not be opened. However, if the spread becomes less than this value and a signal for opening an order is received during this interval, the order will be opened.
- Set the total profit/loss or position holding time in minutes (to close the orders), trailing, breakeven. Or you can manage the open positions manually using the trade panel (BE, Trailing Stop, Colsing buttons)
User Manual: https://www.mql5.com/en/blogs/post/731811
By default, the maximum protective spread filter for all pairs is 150 points. This setting protects against losses due to a high spread during the highly volatile news releases. If the spread of all 7 pairs exceeds this value during the news release, the EA will turn off with a warning.
When everything is set up, the EA will monitor the market during the specified interval (News Interval). When the conditions for opening orders are met, the EA opens them automatically.
- Currency - select the currency.
- Symbols prefix - symbol prefix.
- Symbols suffix - symbol suffix.
- Display Level, % - signal level for display.
- Trade Level, % - signal level for trade
- News Start Hour - news start hour.
- News Start Minute - news start minute.
- News Interval tracking - news interval tracking in minutes.
- Magic - EA identifier.
- Lot - lot size.
- Filter spread - spread filter.
- Filter high spread - protective spread filter.
- Pairs Trading, count - the number of pairs to trade (limit 1-7 pairs in same time)
- Set SL/TP at opening - set SL/TP immediately.
- Stop Loss - stop loss.
- Take Profit - take profit.
- Use Total ProfitLoss - use closure by total profit/loss.
- Total Take Profit - total take profit in the deposit currency.
- Total Stop Loss - total stop loss in the deposit currency.
A demo version is available here