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News knife demo

This is a panel for news trading.

Attention: This is a demo-version of the EA. It is developed for testing and works only on USD/CHF. The full version can be found here: https://www.mql5.com/en/market/product/9074

Operation algorithm

1) You press Pending orders and the chart displays pending orders. At that the chart cannot have another pending orders or open trades.

2) As soon as one of pending orders triggers, another one is automatically removed, so trades will not be locked.

3) There are the Breakeven button, which secures profit (it moves stop to breakeven), and the Trailing stop button (it launches trailing stop).

4) If you position hits profit, click the Close all button and the EA will close all open orders. This button also removes pending orders.

Settings

  • Lots — trading volume you are going to use.
  • Range — range where pending orders will be placed (upward and downward from the current price). Entered in points. For example 15.
  • Stoploss — stop loss per order. Entered in points. For example 10.
  • Takeprofit — take profit per order. Entered in points. For example 10.
  • Trailing_Stop — trailing stop distance.


Recommendations

1) We recommend Instant Execution for news trading. Tests of Market Execution have revealed that different brokers has price slippage up to 30 points.

1) If you trade gold, multiply Stop Loss, Trailing Stop and Take Profit parameters by 10. For instance set to 100 if you want to place stop equal to 10 points. Please note that many brokers have such a notion as minimum allowed distance from the price for placing stop (it is subject to trailing stop as well). For example it will be 5 points for FxPro if you trade gold (enter 50 in parameters).

3) The EA is meant for trading only currency pairs and gold.

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