NewsCatcher Pro MT5
NewsCatcher Pro MT5 opens both pending and market orders based on data from calendars. You can choose from one of the 4 available calendars: mt4.numerika.ru, mql5.com, forexfactory.com or fxstreet.com. In live mode, the NewsCatcher Pro MT5 automatically downloads calendars, opens orders, trails and closes orders.
Only for HEDGING accounts.
NewsCatcher Pro MT5 can trade any event from the calendars with any instrument available in MetaTrader 4, including Gold, Oil and cross-rates. To change the default instrument, go to the Strategy View of the event you want to change it for.
NewsCatcher Pro MT5 uses two strategies:
- Strategy 1 (pending orders): the EA opens two pending orders above and below the current price before data is released. Whichever direction the price moves after economic data is released, one of the pending orders triggers.
- Strategy 2 (market orders): after economic data is released, the EA evaluates the actual value with the forecast or previous value and, if a difference value is reached, it opens a market order.
The EA stores strategy settings locally for all data. Economic data is released regularly: Jobless Claims are released every week, while Non Farm Payrolls are released every month. The EA correctly applies the stored strategy settings to the data. Strategies can be combined. If the EA opens a market order, a pending order in the same direction is deleted.
You can store streamed data as "full" and "custom" calendars. Data from mt4.numerika.ru has two additional calendars: "conservative" and "popular". The conservative calendar includes data which is marked with a green flag on the http://mt4.numerika.ru site. The popular calendar includes data voted by users on the http://mt4.numerika.ru page. To vote for or against a piece of data, click green or red arrows that appear when you hover your mouse over the data.
Testing the Expert Advisor
You may have a quick test without downloading calendar files. Set "demo_calendar" for the "test_mode" property of the EA. Select "Visual mode" to observe it. Results of such test should be discarded because it is random events.
MetaTrader 4 cannot go online in testing mode. Check this simple instruction at this link to test this EA using real calendars.
- comment_length – length of comment. If the EA cannot set comments, try to decrease this value.
- draw_all – draw events of the current week on the time scale of the chart. Activate this parameter to allow the EA to draw events on all open charts.
- global_stoploss – use points, not pips. Global value overwrites parameters with "g".
- global_takeprofit – use points, not pips. Has no effect, if you activate the button "h4 tp" on the chart. Global value overwrites parameters with "g".
- global_trail – use points, not pips. Global value overwrites parameters with "g".
- global_volume – either a fixed value (ex: 0.02) or a percentage from available equity (ex: 0.1%). Global value overwrites parameters with "g".
- test_mode - use "demo_calendar" for testing purposes if you do not have calendar files. Results for this kind of test should be discarded because the EA issues order commands randomly based on the demo calendar.
- test_release - enter the name of one news release (multiple news, separated by commas). Other news releases are skipped during the test. At the end of the test, the EA will output additional information on all trades in the logs.
- update_defaults - gets new default parameters upon the EA start and at the start of the new day.
- zero – distance from Open price in points after which the EA places the stop loss at the Open price. Activate the button "zero" on the chart for this function to work. The "zero" function may be handy if there is an open order but no strong movements.
- zero_auto - number of minutes after opening a trade. When this time runs out, the EA attempts to set the stop loss at the open price line with consideration of the zero parameter value. Set to 0 to disable it.
This EA uses the magic number "123".
Attention! Default strategy settings may be used for automatic news trading. Nonetheless, the news market can be very volatile. To make your trading successful, you should follow the news context and tailor your strategies accordingly.
2. Fixed reading from the forexfactory.com calendar.
3. Improved writing to CSV files.
2. Calendar forexfactory.com was corrected.
3. Related events changed. Now "standby" status of any event disallows a trade (previously such an event was discarded).
4. Minimal stoploss can now be as low as your spread. If spread fluctuates and is higher than your stoploss, then stoploss cannot be set or changed. This should be taken into account, so make your stoploss several times higher than your current spread, or use the default value.
2. A new property "test_release" allows to test only particular news releases. Specify the news, separated by commas. At the end of the test, the EA prints additional information on each trade in the logs, including the duration.
3. A new indicator "h" added, which shows whether there is a trading history available for each news release.
4. Updated the default trading settings. To apply the new default trading settings, click "reset all" in the panel of any news release.
2. Updated settings of default strategies. To apply the new default strategy settings, click the Reset All on the panel of any news.
3. Added the automatic triggering of the zero function. If a deal does not become profitable (that is, its trailing has not been activated), the EA tries to set a stop loss using the "zero" parameter, 30 minutes after the order was opened. The "zero_auto" parameter allows you to set how much time should pass for the automatic zero function to be activated (30 minutes is the default value). Set zero_auto=0 to disable it. Click the button with two arrows in the top left corner to see how much time is left till the automatic zero function executes. The zero button in the chart functions as before and is not related to the automatic activation of the "zero" function.
4. Fixed the history view.
5. Fixed the prevention of opening a repeated deal for the same news release.