News Scalping EA
News release gives a good opportunity to make money because the price usually has big move at News time.
This is typical strategy that places two opposite pending stop orders with a specific distance from price at specific time and date before news release to catch the breakout. Regardless of direction of the price move, we expect a large jump and it will trigger one of the pending orders.
With this Expert, trading news becomes easier and more accurate than Manual method. No waiting, no missing, no time consuming. Just set the date and time of the news release and decide on the appropriate stop-loss and take-profit.
- The EA uses local time.
- The pending orders place in certain second before News Time.
- If non order trigger both will be expired.
- supports two position sizing modes: fixed position size and risk-based position size.
- It can delete opposite pending orders if one order is triggered.
- It can delete/close orders at specific time.
- A common trailing stop is used to manage position.
- Pip lock to secure profit.
Warning: News trading is risky. Be aware from Slippage, due to the extreme volatility after news release you actually get filled at a worse price. Spread typically widen before the news releases.
Recommendations: ECN brokers with low spread and slippage are recommended for trading. It is recommended to test the EA on a demo account to determine the appropriate setting you should use with your broker.
All settings in Pips.