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Another Expert Advisor to Trade the News

December 24, 2015 by

A way to celebrate Christmas and the New Year for me is to share something with other traders. Years ago, I have uploaded Amazing EA for MT4 that was coded by someone calling himself FiFtHeLeMeNt. Five years ago, I have converted it to MT5. That expert advisor is rather bulky and does not reflect the current state of the Forex market — ultra-high volatility during news releases. That is why today, I present the News Trader — an EA to help with automation of the recently updated Forex news trading strategy. It has just enough configuration parameters and is rather easy to use according to months of testing it on my own.

The good thing is that it is available for three platforms from the start: MetaTrader 4, MetaTrader 5, and cTrader. You can see a chartshot of this robot in action, taken in cTrader platform, just before the US PPI and retail sales release:

cTrader version of News Trader EA in action

Unfortunately, it was not possible to code the EA to be absolutely same in all three platforms. The best one is in MT4 as it is not limited by FIFO and can open both Long and Short positions prior to the incoming news release. cTrader’s version is functioning similarly to the MT4 one, but it lacks all the nice input parameters and customization tuning present in the latter. The MT5 version is great if you prefer using one direction trade only.

If you plan to earn from high-impact news announcement in Forex, I wholeheartedly recommend this expert advisor to automate the process. Its biggest advantage is the built-in position sizing module and ability to use the ATR indicator to determine the optimal SL and TP levels automatically.

If you have any questions or comments regarding the News Trader expert advisor for MetaTrader, please feel free to post them using the form below.

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