News Scope EA PRO
PROMOTION! -20% OFF! FOR LIMITED TIME!
News Scope EA PRO is a very effective and potentially highly profitable strategy for high impact news trading. Usually, when a major news event occurs, the price spikes in one, or both directions and this creates an opportunity for short-term scalping. If the magnitude of the price movement is strong enough, the trader cold gain 20, or in some rare cases even more than 100 pips in a few seconds. Of course, nothing is perfect and the liquidity issues in such high volatility moments could lead to spread increase, execution delay and slippage. However, in the last years the brokers conditions improves continuously and the spreads during major news events are lower than ever. This creates a good opportunity for profitable news trading.
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News Scope EA PRO Features
- Semi-automated and fully automated modes
- Precise time and news detecting filters
- High spread detection filter
- Single or multiple-cascade orders modes
- Exit by a trailing stop, or back-tick detection
- NFP and FOMC only trading mode
- Multiple currency pairs support
- Longs only and shorts only option
- Custom time management feature
...If you are into news trading, News Scope EA PRO is the best tool for you!
Recommended timeframe: M1
Supported currency pairs: EURUSD, USDJPY, USDCAD, AUDUSD and GBPUSD.
I have prepared set files for each supported pair. Since I cannot include them here i have uploaded them in the blog. Please check this post: https://www.mql5.com/en/blogs/post/733722
Please, make sure that you have loaded the set files for each individual currency pair!
We've performed and provided REAL TICK data optimizations and 99.90% quality real variable spread backtests for several currency pairs. As well we've used two independent tick data sources Dukascopy and Alpari ECN Pro.
IMPORTANT: Use “News Scope EA PRO” only on well-known ECN brokers with good reputation. If you notice repeatedly unusual spread increase, too high slippage, or execution delay, you should not use News Scope EA PRO on this broker anymore.
News Scope EA PRO Settings
==== Risk Management ====
- FixedLots - fixed trading volume (works if AutoMM=0).
- AutoMM - values greater than 0 (zero) activate automatic ММ (traded volume as a percentage of free margin).
==== General Settings ====
- Slippage - maximal allowed slippage for position opening.
- MaxSpread - maximal allowed spread for position opening.
- MagicNumber - magic number - it is extremely important to keep this different for all robots.
- StartTrail - value in pips. When trade's profit is equal to this value the EA set trailing stop.
- TrailStop - value in pips. The trailing stop value.
- EA_Coment - text which will be added as a comment to each trade opened by News Scope EA PRO.
==== Pending Orders Settings ====
- PlaceOrders_OnInit - true/false - whether to place or not pending orders during initialization of the EA.
- ExitAll_OnDeinit - true/false - whether to close or not all orders during de-initialization of the EA.
- ExitAll_OnInit - true/false - whether to close or not all orders during initialization of the EA.
- CloseOnTradeHour - true/false - whether to close or not all orders before to place pending orders.
- TradeDirection - possible values: -1 only short trades; +1 only long trades; 0 long and short trades;
- AddDistance - the distance between the current price and the first pending order in pips.
- AddStep - the distance between each pending orders in pips.
- AddCount - the number of pending orders to be placed.
- StopLoss - the stop loss value for pending orders. 0 - means not stop loss.
- ExpireMinutes - the expiration time for pending orders in minutes.
- DeleteAfterSeconds - placed pending orders will be deleted after X second (X is value of DeleteAfterSeconds)
- CloseOnReversePips - when there is a reverse X pips then the EA will close all active orders with the idea to protect the profit. (X is value of CloseOnReversePips)
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