News Trading EA

this is my way of giving back to a community av learnt much from. i recenlty started learning mq4 programming. so if you have not learnt it, pls do. YOU NEED IT.

ok if you are into news trading this might interest you.

this EA helps straddle market price before news announcement. you have the ability to customise the following parameters.

Hourtime = Chart time (hrs) you want the EA to kick start
Minutetime = Chart time (mins) you want the EA to kick start
For Example if the news is to be released @ 16:30 (Chart time! not your local time) and you want to straddle the price 2mins before. Hourtime = 16; Minutetime =28
DeleteOppositeOrder = OCO action
UpdateBE = move StopLoss to BE after a certain number of pips (updatetoBE) gain
StopShift = number of pips to straddle current market price
Lotsize = number of lots
UpdateToBE = explained above
TakeProfit
OrderExpirationMinutes = number of minutes after pending orders are placed for them to expire
EAMagicNo = number to indentify which trades EA is to manage

please if you find this EA useful let me know. contributions and constructive questions are welcome.
Thanks

Thanks for sharing with the forum. Have a great weekend

i decided to bump my nice EA up the forum again should in case it still had fans.

hello!

I like this method, but there are a few problems: 1. there is only a spike or a heavy market reaction when deviation is big enough from expected value, and 2. you need to find broker with fixed spreads otherwise you are kicked out due to excessive spreads (they hunt all stop losses to fill counterorders)
what is your opinion?
are you using this?

Maybe you can devise an EA that retrieves the release data and then sets limit orders if the deviation is big enough?

Or perhaps that's asking a bit too much... hehe...

i wish could be able to do that. unfortunately i dont have any idea how can do it

There is a news indicator here on FF somewhere. Maybe use the vertical lines it plots as a guide?