EA ? for news spike trading....

I'm new to EA's and custom indicators and kuddos to those who know how to program these things and those who share what they program free of charge.

What I am looking for is (I guess) a semi-manual EA. Here's what it should do:

Just before important news comes out, I need to put in two pending orders, ONE BUY STOP, ONE SELL STOP. Since putting in SL and TP and TS takes too long (the orders go in 1 min prior to news break), I need something that would automatically set the SL, TP, and Trailing Stop for both BUY and SELL orders (from the rate I put into it).

Maybe someone good with code can program something like this for MT4 and share with the rest of us, or maybe someone knows if there already exists something of this sort.

Any info would be appreciated.

these forums are littered with this type of ea

PS) let us know if you find a broker where you can actually trade it (without spreads widening or platforms freezing)

I am doing a demo account with FXDD.com right now. I heard that demo and live are two totally different worlds but from asking around, alot of people said they rarely see major spikes during breaking news with FXDD.

Tdion, if possible, can you post at least one link that would steer (no pun intended with your bull icon ) me in the right direction?

sorry i don't currently trade news (hence no ea from me)

they are everywhere if you are willing to look (w/ search tool)

ps) it isn't only the "spike" you need to worry about.... that is only one flavor of anti-news trading the brokers are notorious for....


if it were me and my life depended on it, the ECN brokers would be my first stop on my research journey

BurgerKing had a news trading ea he used to use. I don't think he uses it any more. It might have to do with this thread he started.

Have a good look at that before you jump into any live news trades using Metatrader.

Seems to be more EA stuff out there for this purpose than I though. Thanks !

btw, Does Burger's EA still work and is it still out there?

You should understand that the thread I linked isn't about any ea, it's about a plugin, probably one of many out there, that Metatrader makes available to your broker that is installed on their server in order to give them a significant advantage against you in your trading. Any ea you can find or develop isn't going to beat this. You're setting yourself up for major problems. I'm not saying it's impossible to news trade. You're probably going to have to have a large account (20K or bigger) and do your trading through an ECN like tdion said.

Now that you know that, if you still insist on pursuing it I went ahead and did your legwork and so here's the thread detailing BK's ea.

Hope I'm not giving you the rope you'll need to hang yourself.

Thanks, but I was actually replying to tdion in my last post there. I did find all those news straddle Ea's after I did a more thorough search.

Thanks for the words of warning though. Always nice to hear feedback from others.