News Trader EA

This EA is supposed to trade news and high market spikes. The EA will also use CCI to avoid overbought and oversold situations and will not enter the trade too late.

Volume_EA_sell.mq4

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EA why this small size is an indicator ffcal is work for metatrader 4  bro keranda fx

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News Trader EA is designed to trade with the trend based on a Commodity Channel Index (CCI), volume, and time conditions. It opens buy trades under specific circumstances at the beginning of an hour, closes trades at the end of the day, and employs a trailing stop to protect profits. To use this EA, you would set the Magic Number, lot size, CCI levels, and other parameters according to your trading strategy and preferences.

Setup:

The EA allows you to configure several parameters, such as MagicNumber, Lots, Factor, Trailing_Stop, CCILevel1, and CCILevel2, which control its behavior.
You would attach this EA to a specific currency pair (Symbol) and set the parameters according to your preferences.

Strategy:

MagicCCI EA works on a specific time-based strategy. It checks the time every minute to determine if trading conditions are met.
It aims to open trades (buy or sell) during a particular time (when the minutes are '00') if certain conditions align.

Buy Conditions:

The EA looks for buy opportunities if all of the following conditions are met:

The volume in the previous candle is greater than the volume in the candle before it, multiplied by the 'Factor' parameter.
The CCI indicator (Commodity Channel Index) is within a specified range defined by 'CCILevel1' and 'CCILevel2.'
The previous candle closed higher than it opened (Open[1] < Close[1]).

Sell Conditions:

The EA does not have predefined sell conditions. It appears to be solely focused on buying under specific conditions.

Trailing Stop:

The EA employs a trailing stop mechanism for managing open trades.
If an open 'buy' trade is profitable and the current bid price is a certain distance ('Trailing_Stop') from the open price, the EA modifies the stop-loss level, gradually moving it closer to the current bid price to lock in profits.

Order Management:

The EA uses a 'Magic Number' to distinguish its orders from other trading activities.
It opens and closes orders based on specific conditions and the time of day (closing orders at 23:00).

Execution:

If the buy conditions are met, the EA places a 'buy' order with the specified 'Lots' size at the current 'Ask' price.
When it's time to close orders (23:00), the EA checks for open orders with the designated 'MagicNumber' and closes them.

The EA continuously monitors open trades and adjusts the stop loss to follow the market. If the current market price is a certain number of pips away from the entry price, it adjusts the stop loss accordingly.

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News Trader EA is designed to trade with the trend based on a Commodity Channel Index (CCI), volume, and time conditions. It opens buy trades under specific circumstances at the beginning of an hour, closes trades at the end of the day, and employs a trailing stop to protect profits. To use this EA, you would set the Magic Number, lot size, CCI levels, and other parameters according to your trading strategy and preferences.

Hi, I'm a new trader and I've seen people talking about Magic Number in Forex.

I have no clue what it means and I feel a bit lost. Can someone please explain it to me in simple words?

I heard it's something important for managing trades, but I'm not sure how it works. Any help or advice would be super appreciated!

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News Trader EA is designed to trade with the trend based on a Commodity Channel Index (CCI), volume, and time conditions. It opens buy trades under specific circumstances at the beginning of an hour, closes trades at the end of the day, and employs a trailing stop to protect profits. To use this EA, you would set the Magic Number, lot size, CCI levels, and other parameters according to your trading strategy and preferences.

 

Hi, I'm a new trader and I've seen people talking about Magic Number in Forex.

I have no clue what it means and I feel a bit lost. Can someone please explain it to me in simple words?

I heard it's something important for managing trades, but I'm not sure how it works. Any help or advice would be super appreciated!

A "Magic Number" in Forex is like a special code or ID that helps you keep track of your trades, especially when you have multiple trades running. It's kinda like a name tag for your trades.

Here's how it works: When you open a trade with a specific Magic Number, your trading software or Expert Advisor (EA) will remember it. This way, you can easily find, modify, or close that particular trade later, even if you have many other trades going on.

So, if you use the same Magic Number for a bunch of trades, you can manage them more efficiently. It's a way to organize your trades and make sure you're doing the right things with each of them.

I hope that makes sense! If you have more questions or need more help, just ask. We're here to support each other.

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This News Trader EA: Volume_EA_sell.mq4, similar to the previous one Volume_EA_buy.mq4. It also uses a "Magic Number" and the Commodity Channel Index (CCI) indicator, but there are some differences in its strategy and conditions. Let's break down how this EA works and what sets it apart from the previous version:

Setup:

The EA has parameters like MagicNumber, Lots, Factor, Trailing_Stop, CCILevel1, CCILevel2, CCILevel3, and CCILevel4 that you can configure.

Strategy (Differences):

Like the previous version, this Volume_EA_sell.mq4 still operates on a time-based strategy.
However, it now looks for sell opportunities when specific conditions are met, whereas the previous version Volume_EA_buy.mq4 focused on buy opportunities.

Buy Conditions (New):

The EA checks for sell opportunities if all of the following conditions are met:

• The volume in the previous candle is greater than the volume in the candle before it, multiplied by the 'Factor' parameter.

• The CCI indicator is below 'CCILevel3' and above 'CCILevel4.'

• The previous candle closed lower than it opened (Open[1] > Close[1]).

Sell Conditions (Differences):

The previous version of the EA did not include predefined sell conditions. In this version, the focus is solely on sell trades.

Order Management:

Similar to the previous version, this EA uses a 'Magic Number' to distinguish its orders from others.
It opens and closes orders based on specific conditions, and it still closes orders at 23:00.

Trailing Stop (No Change):

This EA continues to use a trailing stop mechanism for managing open trades, similar to the previous version.
It's essential to note that the primary difference between this version and the previous one is the shift from a buy strategy to a sell strategy. Otherwise, both EAs share the same 'Magic Number' and trade management principles. As with any EA, thorough testing in a demo environment is important before using it in a live trading account.

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