BF News Trader EA
There is a PROFESSIONAL version of BF News Trader EA! Check it here: https://www.mql5.com/en/market/product/40851
BF News Trader EA is the most advanced FREE tool for high impact news trading on the market. Usually, when a major news event occurs, the price spikes in one or both directions and this creates an opportunity for short-term scalping. If the magnitude of the price movement is big enough, the trader could gain 20, or in some rare cases even more than 100 pips in a few seconds. Of course, nothing is perfect and the liquidity issues in such high volatility moments could lead to spread increase, execution delay and slippage. However, if you want to try this type of trading free of charge, BF News Trader EA is the right tool for you.
- Semi-automated and fully automated modes
- Precise time filter
- High spread detection filter
- Single or multiple-cascade orders modes
- Exit by a trailing stop, or back-tick detection
- Multiple currency pairs support
- Longs only and shorts only option
...If you are into news trading, News Trader EA is the best tool for you!
Instructions and recommendations
Recommended timeframe: M1
Supported currency pairs: EURUSD, GBPUSD, AUDUSD, USDCAD and USDJPY.
I have prepared set files for each supported pair. Since I cannot include them here i have uploaded them in the blog. Please check this post: https://www.mql5.com/en/blogs/post/736549
Please, make sure that you have loaded the set files for each individual currency pair!
IMPORTANT: Use “News Trader EA” only on well-known ECN brokers with good reputation. If you notice repeatedly unusual spread increase, too high slippage, or execution delay, you should not use News Trader EA on this broker anymore.
BF News Trader EA Settings
==== Risk Management ====
- FixedLots - fixed trading volume (works if AutoMM=0).
- AutoMM - values greater than 0 (zero) activate automatic ММ (traded volume as a percentage of free margin).
==== General Settings ====
- Slippage - maximal allowed slippage for position opening.
- MaxSpread - maximal allowed spread for position opening.
- MagicNumber - magic number - it is extremely important to keep this different for all robots.
- StartTrail - value in pips. When trade's profit is equal to this value the EA set trailing stop.
- TrailStop - value in pips. The trailing stop value.
- EA_Coment - text which will be added as a comment to each trade opened by BF News Trader EA.
==== Pending Orders Settings ====
- PlaceOrders_OnInit - true/false - whether to place or not pending orders during initialization of the EA.
- ExitAll_OnDeinit - true/false - whether to close or not all orders during de-initialization of the EA.
- ExitAll_OnInit - true/false - whether to close or not all orders during initialization of the EA.
- CloseOnTradeHour - true/false - whether to close or not all orders before to place pending orders.
- TradeDirection - possible values: -1 only short trades; +1 only long trades; 0 long and short trades;
- AddDistance - the distance between the current price and the first pending order in pips.
- AddStep - the distance between each pending orders in pips.
- AddCount - the number of pending orders to be placed.
- StopLoss - the stop loss value for pending orders. 0 - means not stop loss.
- ExpireMinutes - the expiration time for pending orders in minutes.
- DeleteAfterSeconds - placed pending orders will be deleted X second after the news release (X is value of DeleteAfterSeconds)
- CloseOnReversePips - when there is a reverse X pips then the EA will close all active orders with the idea to protect the profit. (X is value of CloseOnReversePips)
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