News Trader is a MetaTrader expert advisor developed to help Forex traders with news trading opportunities that arise during important macroeconomic releases. The EA can be used to trade news volatility straddle strategy. However, ATR-based stop-loss and take-profit setting is available too.

Forex Trading News & Analysis

This EA supports flexible position sizing in addition to the usual fixed position size. It is available for the following trading platforms: MT4MT5and cTrader.

Trade Forex News Without Getting Burned - eqogypacuc.web.fc2.com

News Trader opens one or two trades Buy and Sell by default some time before the news announcement 1 minute by default. It applies stop-loss and take-profit levels according to the input parameters given by a trader.

If requested by the trader, the EA continues to modify stop-loss and take-profit levels until the very release of the news to keep them relevant to the current price. When the news is out, the expert advisor will apply trailing stop according to the trader's choice. If one or both trades remain active one hour by default after the news, the EA closes them.

The chart screenshot shows the EA operation during and after the US and Canadian monthly employment reports combined with the Canadian trade balance report.

The news came out at 8: The Buy and Sell entries are shown with two arrows pointing to the right.

Their stop-loss levels are marked with the red dashes above and below. The take-profit levels are the blue dashes. The currency rate gapped up after the news, executing the Sell position's stop-loss.

Unfortunately, it does not reach the take-profit of the Buy trade. The position is closed by timeout one hour after the news release blue arrow pointing left. The profit was about three times the loss in this case, which is good but not great. Apparently, it could be bigger if a tighter take-profit was used. News Trader expert advisor supports two position sizing modes: The second mode enables either common fixed fractional position sizing or fixed money risk position sizing.

Forex News Trading

Both use the maximum tolerated risk given as percentage or malaysia stock broker company money. The expert advisor can use Average True Range indicator to automatically choose stop-loss and take-profit levels for bollinger bands source code news trade base on the preceding volatility of the currency pair.

ATR value is calculated based on the given period. The stop-loss and take-profit are then calculated based on separate multipliers before entering opening a position.

Any big news are good for this EA: The more important the news forexpros futuro ibex 35 better the chance to hit take-profit. I recommend setting 10 standard pips stop-loss and 50 pips take-profit on such news as GDP, CPI, or retail sales. It can work with all trading instruments, but I recommend using it with very liquid currency pairs only: Slippage and spread widening on exotic currency pairs may result in premature stop-loss execution.

MT5 version cannot open both Buy and Forex news traders positions on the same currency pair. Instead, it will open pending orders that will mimic those positions.

This EA is ECN-compatible. Otherwise, you will most likely be seeing OrderSend Error messages when EA will be trying to open positions.

Before you ask basic questions regarding installation of the expert advisors, please read this MT4 Expert Advisors Tutorial to get the elementary knowledge on handling them.

Do you have your own trading results or any other remarks regarding this expert advisor? Discuss News Trader with other traders and MQL programmers on the experts forums.

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