While I'm thinking of it, I'd like to comment on previous requests to incorporate this tool into EA's to trade the news.
David made the excellent point that you can't really use this tool to get up-to-the-second news results. The ForexFactory server, from which this tool gets the news information, would be overloaded by constant automatic requests for real-time updates. It's not architected for that purpose and it simply won't work.
However..., David's tool could definitely be put to use by an EA which seeks to be AWARE of upcoming news events, and make decisions accordingly. One could either close trades before the event; or refuse to open trades within X minutes of upcoming important news events; or manage a trade by opening up stop-losses (or tightening them??) before news events. I'm not making specific suggestions, nor have I even attempted to write such a thing... I'm just saying it would be possible as it is presently architected.
Pips4life (Kent)
David made the excellent point that you can't really use this tool to get up-to-the-second news results. The ForexFactory server, from which this tool gets the news information, would be overloaded by constant automatic requests for real-time updates. It's not architected for that purpose and it simply won't work.
However..., David's tool could definitely be put to use by an EA which seeks to be AWARE of upcoming news events, and make decisions accordingly. One could either close trades before the event; or refuse to open trades within X minutes of upcoming important news events; or manage a trade by opening up stop-losses (or tightening them??) before news events. I'm not making specific suggestions, nor have I even attempted to write such a thing... I'm just saying it would be possible as it is presently architected.
Pips4life (Kent)