This is not Straddle News Trading, Hedge, Grid, Indicator. The EA does fundamental analysis of pairs and opens orders.
This EA works with economic calendar events. It opens order according to meaning of news when news was announced. The EA analyzes news events at the time, selects profitable news from them and opens order according to meaning of news
I have been trading for 6 years and I have tried almost all strategies in forex. I could not find any profitable system until end. Do you know why ? Do you know strategies that we tried losses at the end ? Because Indicators don’t tell us future.Trend can change even if indicator show %100 correct signal. Do you know why everybody talk about past of the forex market when you watch finance news on TV ? Because they can talk about past and can predict future. Nobody can know future.
Future has not been written yet.
When you buy or where you opened order is not important. Important thing is being in correct trend.
Opening order for indicators like throw the dice. You would loss at the end. Because Indicators dont manage forex. People manage forex. Big movements start with economic developments or announcements of Central Banks. Forex is not unclaimed.
- Before you start, set your GMT. If you will do backtest, backtest must be everytick mode. The EA works on all timeframes, but recommended is the M1 period
- Go to Tools -> Options -> Expert Advisors and check "Allow WebRequest for listed URL" and add "http://sistemliborsaci.com" url to new line. The EA will fetch live or historical news datas from this website.
- gmt = 0;
This is your timezone. Set your timezone before you start. It is important for identifying news dates.
- currency = “EUR,USD,GBP,JPY”;
This is which currency you use. You can write your currency that you want to use.
- pairs = “EURUSD,GBPUSD,USDJPY”;
This are order pairs. EA will just open order with this pairs. If you set blank, EA will open an order with pair of news currencies if pair is lower than max_spread value.
- min_priority = 3;
This is priority of news. If you are newbie, just use level 3 news. If you start to expert of it, you can try 2 or low importance news.
- lot = 0.01;
If this value is bigger than 0 EA will work with fixed lot. If this value is 0, EA will work with money management.
- RiskPercent = 5;
Risk percent of new order. If you set 5 here, EA will open new order with %5 money of your balance. Recommended 5% risk.
- fractal_stop = 1;
If you want to use fractals highs and bottoms for stoploss value. you can open this. Fractal prices are good choice stoploss.
- sl = 0;
Order Stoploss value. You can set stoploss manually. 10 means 10 pips.
- tp = 0;
Order take profit value. You can set take profit manually. 10 means 10 pips.
- trail = 0;
If you want to use trailing stop set your trailing stop value. 2 means 2 pips. If you dont want to use trailing stop set it 0
- max_spread = 2;
This is maximum allowed spread value. Spread must be under 2. Recommended ECN broker if it is possible. If spread is under 1.5 you can have good profit.
- close_after_bar = 3;
If this value is bigger than 0, EA closes orders after x bar. If it is 0, EA closes orders by take profit, stoploss or trailing stop
- trading_start_hour = 0;
If hour is bigger than this value, it works, otherwise it does not work.
- trading_stop_hour = 24;
If hour is lower than this value, it works, otherwise it does not work.
- news_limit = “5000”;
Historical news download limit. If you do short time backtest you can change it for increase speed. If you dont know, leave blank.
- read_interval = 300;
EA starts fetching actual price from web site at news time. EA try fetching new data every 300 mini seconds. This defines it. 300 means 300 millisecond. For 1 second use 1000