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Mastering News Trades with MT4
It’s my favorite strategy. This is a small example of using news trading strategy. There are few strategies.
Here is sample code:
if(orderOpenDate == currentDate)
{
//we place 2 orders: buy stop and sell stop
if(ticket < 1)
{
orderAsk = Ask - bias * Point;
orderBid = Bid - bias * Point;
ticket=OrderSend(Symbol(),OP_SELLSTOP,lot,orderBid,1,orderAsk+Point*sl,orderBid-tp*Point,"NewsTrader",2,0,Red);
}
if(ticket2 < 1)
{
orderAsk = Ask + bias * Point;
orderBid = Bid + bias * Point;
ticket2=OrderSend(Symbol(),OP_BUYSTOP,lot,orderAsk,1,orderBid-Point*sl,orderAsk+tp*Point,"NewsTrader",2,0,Green);
}
}
NewsTrader.mq4 2.55 kb, 37 downloads since 2014-10-10
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About NewsTrader.mq4
NewsTrader is your secret weapon for catching those sweet market swings that happen right before big news hits. This EA places two orders, a buy stop and a sell stop, just moments before the news announcement, aiming to ride the price wave for potential gains.
It follows a simple yet effective strategy:
The EA identifies the publication time of important news events and prepares to enter the market 10 minutes before the news is released. This is a crucial moment when the market often experiences significant price swings.
NewsTrader sets up two types of pending orders:
Buy Stop: This order is placed above the current market price, anticipating a potential bullish move.
Sell Stop: This order is placed below the current market price, expecting a possible bearish move.
You can adjust the lot size, stop loss (SL), and take profit (TP) to manage your risk and potential rewards. These parameters allow you to customize your trading strategy according to your risk tolerance and profit goals.
Now, let's break down the adjustable parameters and their functions:
Lot: This parameter allows you to specify the size of each trade. It determines the number of units or contracts you will be trading.
Stop Loss (SL): SL sets the maximum loss you are willing to accept for each trade. If the price moves against your position and reaches the SL level, the trade will be closed automatically to limit your losses.
Take Profit (TP): TP defines your desired profit level. Once the market reaches this level in your favor, the trade will be closed to secure your profit.
Bias: The Bias parameter determines the distance, in pips, from the current market price where the buy and sell stop orders will be placed. It helps you fine-tune your entry points.
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