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FTMO news manager Free
This Expert advisor helps manage trades during news events. Although this tool has especially been designed for FTMO accounts (these being subject to trade restrictions during certain news events), it can be used by anyone wishing to manage risk during those times.
This is the Free version. The Paid version can be found here: https://www.mql5.com/en/market/product/63324.
News restrictions being one of the main limitations on FTMO accounts, FTMO Traders often face following issues:
- fewer trading opportunities,
- several restricted news scheduled on the same day, making it difficult to keep up,
- restricted news released during times when the trader is sleeping (or busy) while he/she has trades open,
- trades that would have ended in a profit if they had been kept open through news events,
To counteract those struggles (and to preserve your peace of mind), you can set up this Expert advisor to do the following:
1. prior to the news event
- close open trades (R)
- delete pending orders (R)
2. the Paid version additionally contains following features
- reopen closed trades after news (R)
- replace pending orders after news (R)
- freeze SL/TP during news window (R)
- switch AutoTrading off during news window (A)
- create upcoming news reminders
- close everything before Daily Loss Limit is reached (A)
- switch AutoTrading off until next trading day (A)
- close everything on Friday/Saturday (A)
- switch AutoTrading off until Sunday (A)
On the above list, (R) means that the feature only takes into consideration instruments affected by the restricted event. (A) means that all instruments will be affected, regardless of the event.
This Expert works while attached on a single, random chart. Keep in mind that the chart needs to be active for the Expert to work. If you trade Cryptos, on weekends the Expert will only work if attached to a Crypto's chart.
Restricted news are released every Sunday on the client section of the FTMO website. You need to manually input those events into the Expert.
Please find hearafter a description of the input parameters:
- Close open trades: Closes all open trades of a given instrument prior to the news event.
- Delete pending orders: Cancels all pending orders of a given instrument prior to the news event.
- News window (in minutes): Defines the news window in minutes, e.g. for an input of 5, if news time is set to 10:30, the news window starts at 10:25 and ends at 10:35. If Close open trades or Delete pending orders are set to true, these options will activate at 10:25 and remain active until 10:35.
- News time corresponds to: Choose between Local computer time and Broker time.
Set up news herafter
- Date and time: Define date and time for up to 15 different news events.
- Instrument: Input instruments exactly as they are shown on the FTMO Calendar (see Screenshots below).