The take-profit levels are the blue dashes. A trade strategy based on the RSI indicator. Forex forum gives its author a forex bonuswhich can be used in Forex trading. The headline figure for CPI is the percentage change in the index on a month to month or year to year basis. Section is assigned for sharing free Expert Advisors and discussing all about automated trading.

News Trader tradfrs 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. This EA supports fraders position sizing in addition to the usual fixed position size. It is available for the following trading platforms: MT4MT5and cTrader. 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 mt5 forex expert traders 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 EST on December 4, The Buy and Sell entries are shown with two arrows pointing to the right. Their stop-loss levels are rtaders 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: plain fixed position size and risk-based position size. The second mode enables either common fixed fractional position sizing or fixed money risk position sizing. Both use the maximum tolerated risk given as percentage or as money. The expert advisor can use Average True Range indicator to automatically traddrs stop-loss and take-profit levels for a 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: interest rate decisions, central bank minutes releases, CPI, GDP, trade balance, employment reports, etc. The more important the news the 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. Slippage and spread widening on exotic currency pairs may result in premature stop-loss execution. MT5 version cannot open both Buy and Sell positions on the same currency pair. Instead, it will open pending orders that will mimic those trqders. This EA is ECN-compatible. ECN-compatibility for this expert advisor. Otherwise, you will most likely be. This is because, if you are trading with an.

ECN broker with market. 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 mt5 forex expert traders any other remarks tradsrs this expert advisor? Discuss News Trader with other traders and MQL programmers on the experts forums.

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