Trading News easy peasy EA

How EA functions.

1. A trader sets the date and time of the news to be released.
2. At user-specified time EA, (in Seconds Before News), opens 2 simultaneous Market (NOT Limit Orders) positions Buy and Sell.
3. Initial Stop Loss (Stop Loss before News) is set by user. The wider the better. For example 100 or 1000. The idea is your Stop Loss isn't triggered BEFORE news' release.
4. At user-specified time (in seconds before news, the closer the better. For example 5 seconds before news time) EA updates initial Stop Loss to a final ones (Updated Stop Losses). Let's say you initially set your Stops at 200 pips value. 5 seconds before the news you may want to update your stops to a conservative 5 pips.
5. If during these 5 seconds (between positions opened and news released) your Stop Loss/Losses trigger/s, EA will automatically open the closed part/parts of your trade. So, EA will ensure you will have both Buy and Sell positions at time of News' release. The limitation is only the time of triggered Stop Loss is too close to time of news being released (usually splits of a second), and the speed of your Broker's orders execution.
6. Once News is released, one of your positions will trigger Stop Loss, and other position is continue to see a profit. If volatility IS NOT high enough and your Stop Loss is relatively wide, both your positions may survive.
7. EA will take care of your Stop Loss on remaining position/s and Trailing Stop to lock up the profit.
8. After a user-specified time in minutes (Minutes after News), the program will close ALL Positions on remaining/survived position/s (If either SL or Profit Taking never triggered).

Expert Advisor's Settings.

 

1. News Date. Set the date and time of News is being released in MMDDHHMM format. For example, if you news is out October 31st, at 8:00 AM, so set the value to 10310800. If time of the News is 2:30PM, so set value to 10311430. If news time is Midnight 12:00 set to 10310000. If a time is Noon 12:00 set time to 10311200.
2. Seconds before News. From real trading experience, we can say that a trader want to open the positions SOME TIME BEFORE news, to ensure you have position before News and prevent paying extra SPREAD on currency/crypto/index that usually accompanies seconds before news' release. It's practical to have positions some 10 to 30 minutes before news. The limitation of EA is 1 hour (3,600 seconds).
3. sec_update_SL. At user-specified time (in seconds before news, the closer the better. For example 5 seconds before news time) EA updates initial Stop Loss to a final ones (Updated Stop Losses). Let's say you initially set your Stops at 200 pips value. 5 seconds before the news you may want to update your stops to a conservative 5 pips.
4. Take Profit. Profit in Pips you expect to take.
5. Stop Loss before News. You initial SL when your positions are opened, but the news is not due yet. In a mean time, you want to prevent your Stop Losses from triggering. So, set your initial SL as wide as possible, say 100 or even 2000, depends on your trading instrument.
6. Updated Stop Loss. See paragraph 3.
7. Trailing Stop. Trails your stop in order to lock up your profit. In another words, maximum drop in pips from the up-do-date high of traded instrument. Google "Trailing Stop" for more explanations of the feature.
8. Lot size. Size of your lot. Minimum value of a currency pair is 0.01 in Meta trader 4.
9. Minutes after News. After a user-specified time in minutes (Minutes after News), the program will close ALL Positions on remaining/survived position/s (If either SL or Profit Taking never triggered).
10. Maximum currency spread. You can specify a maximum spread you're willing to pay. To guarantee having orders opened, you may want to set the spread a bit wider from average spread.
11. Maximum slippage (in pips). During high volatility time, such as News releases, it's ONE SIDE trade. People are either Buy or Sell. It's possible that your Stop Loss or Take Profit values slips from your quote. In order to ensure execution of an order, set slippage values somewhat 10 or more.
12. Maximum Loss in % from balance. Risk management feature - set your maximum Loss in % value from your initial Account balance (Balance before trade). If your Max Loss is reached, EA will close ALL POSITIONS no matter what.

How to successfully trade news with EA.
Practical guide from real account trading experience.

1. If your EA didn't open your BUY/SELL positions, so you may either incorrectly entered Date/Time or spread of a trading instrument is higher than your Max Spread value.
2. Your Date/Time (MMDDHHMM) is your LOCAL TIME (time of your trading station - PC/Smartphone etc.). It's programmed so, because you have full control over your trading station and can adjust its clock. While control over clock of a server is limited or not an option at all).
3. Always adjust your trading station Local Time (most likely your PC's clock) before news. Sometimes your PC's clock lags a few seconds from real time, which can drastically impact your Trading News and can lead to unnecessary losses.
4. Compare your PC's clock to the free reliable service like https://www.time.gov/ There will be still a lag of about 0.5 seconds between https://www.time.gov time and your PC (due to physical distance between your PC and https://www.time.gov Server and electronic infrastructure issues). So, take that 0.5 lag in account while setting Updated Stop Loss value in EA's inputs.
5. Also, take in account a speed of orders execution of your Broker, while setting Updated Stop Loss value in EA's inputs.. Sometime it can be up to 1 second. From real account experience, with relatively fast Broker, your Updated Stop Loss value of 5 seconds is OK in 99% of time. In 60% of time 3 sec of time is OK. Lesser time - your order is less likely to be executed before News' release.
6. Always trade news when high volatility expected. That's the only guess/unknown in trading news' equation. If volatility is low, your both BUY/SELL order will end up in Stop Loss triggering. Contrary, the higher volatility, the bigger potential profit you'll have.
7. EA's Icon download: https://drive.google.com/open?id=1jX...FpCBvSmyOm_R4GJust place the icon into Experts directory in your MT4 Terminal's Data Folder. This is not required, just for fun.

And Bonus!
Another way to use EA.

You can simply drop EA on a chart WITHOUT specifying Date/Time in setting. This way your market orders will be opened right the way, so you can instantly react to rumors, Breaking news or just to high volatility time. If you choose this option, disregard the following settings: News Date, Seconds before News, sec_update_SL, Stop Loss before News, Updated stop Loss, Minutes after News.

Check an updated version of free download!