News HighLow Fib Reversal

Logic:


On the time of the latest news as is released weekly on the forex factory api (https://nfs.faireconomy.media/ff_calendar_thisweek.xml) the MT4 expert advisor will wait for retracement to the recent high or low then when a reversal signal is produced an entry will be executed with the stop loss being 40 pips below or above high or low and the take profit being on the opposing high or low.


The EA will mark the time of news events based on the selected pair. If the GBPJPY pair is selected then the EA should load the Asian events for the week. If GBPUSD, EURUSD or XAUUSD pair is selected then the EA should load all US based events. The same goes for British and Australian events.


The reversal signal will be valid only if within the desired Fibonacci price range and high low price range. 


The execution of entry, stop loss and take profit will be effective on price close on a lower time frame to combat slippage and manipulation.



Demonstration


This the settings required to fetch News and Time.


Tools>Options>Expert Advisor>Allow Web Requests:


https://nfs.faireconomy.media

https://www.worldtimeapi.org


Documentation:

https://docs.google.com/document/d/1mnzKTRwXP5I-HGb7WfoZvFXRbfEpEVer65qNMg7pqLY/edit?usp=sharing




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