This is a news Expert Advisor working by the economic calendar. After the news release the EA analyzes the behavior of the price and makes the decision whether to buy or sell. The time given for the analysis of the price behavior is set by the trader, the recommended values are from 5 to 10 minutes. During this given time after the news release the EA gathers the information on the strength of bulls and bears. The price usually expands its trading range and does not move in a specific direction. At the end of the given time for the analysis the EA opens a trade. For position trailing the EA uses a trailing stop loss with protective reverse pending order for the case if the price reverses. The stop loss with the reverse pending order are moved to the price at the distance of stop loss value until the stop loss of the open order reaches the breakeven level. After that the pending order is removed and the virtual trailing stop is activated.
Adapted for 4-5-digit quotes. The EA is recommended for use on EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, NZDUSD, EURJPY, EURGBP, and EURCHF. The EA opens deals in Market Execution mode. Take Profit and Stop Loss are placed after order execution and modified in accordance with the EA settings. VSP is required for flawless operation, minimum deposit is 100 units of the base currency. Timeframe does not matter.
For the EA to start operating you need to do the following:
In the terminal, open Tools ---> Options ---> Expert Advisors ---> add "http://calendar.fxstreet.com" to the "Allow WebRequest for listed URL list" field.
The EA cannot be tested in the Strategy Tester, therefore download the Demo version for testing here.
- MinutesAfterNews – minutes after the news release for the price analysis;
- NewsImpotance – news importance;
- AutoLot – automatic trading lot calculation depending on the balance. Not used if set to 0;
- Lot – traded lot if AutoLot = 0;
- TakeProfit – take profit in points;
- StopLoss – initial stop loss in points;
- VirtualTrailingStop – umber of points to start virtual trailing stop;
- VirtualTrailingStep – trailing stop step;
- Magic – magic number. If 0, it works with all orders;
- Comment – order comment;
- DrawInfo – display information on the chart;
- Language – select the language to display the information on the chart:
- _English – English;
- _Русский – Russian;
- TextColor – text color.