Version 3.0.0 Released
Change Log
28-May-2013
Version 3.0.0 Modified by Alan Prothero
New Setting SecBAO
Default for SecBPO=20 instead of 10
Removed SlipCheck and Stop Loss Reset Code and MaxSlippage
Added Settings: NSec and AllowBuys and AllowSells
Bugfix: EA could open trades between news time and STWAN
Removed Setting CloseTrades (not needed on MT4 Build 500 or higher)
Risk Setting now takes into account SL distance
Added Sleep for 5 seconds when MaxSpread exceeded
In Version 2, I experimented with resetting Stops and Closing Trades if MaxSlippage was exceeded. What I found was that in practise, this code added too much processing to the EA and didn't work fast enough to deal with sudden price gaps or reversals. Personally, I'd rather have the EA run the Break Even or Trailing Stop code as early as possible. So I have removed the SlipCheck, Stop Loss Reset Code and MaxSlippage settings.
In Version 3, I have introduced a new feature called SecBAO. What this does is open orders 10000 Pointsaway from their final destination initially then if you set SecBAO=2 for example the EA will draw in the orders to the correct place at 2 seconds before News Time. This feature has many benefits.
1) You can open orders much earlier without fear of trades going live early. For various reasons, opening orders is the most dangerous time apart from News Time. The MT4 terminal has to handshake with the server possibly performing a login. In the meantime, price may spike and activate one of the orders.
2) If you want to open orders on multiple charts it takes a while especially during busy periods. Now you can set SecBPO much higher without worry.
3) If the broker 'freezes' just before news time for whatever reason, you used to be at the mercy of price action. Now your orders will simply remain too far away to be activated.
Bear in mind that SecBPO has to be greater or equal to SecBAO which has to be greater than SecBMO.
In theory, using SecBAO means you can use CTCBN=0. But I would stick to CTCBN=1 for any trade that is slightly volatile.
Another new feature is NSec. You can now specify the number of seconds for News Time. For example, Employment Trades often move after all the figures are released which is about 10 seconds after News Time. Bear in mind, that EAs run every time a price tick is received so this may not be exactly at the time specified. Also, you should double check your brokers clock to ensure accuracy before each trade.
There is a couple of new settings AllowBuys and AllowSells to turn off Long or Short Trades respectively.
CloseTrades is no longer needed on the latest MT4 Build 500.
I've added more information in the Text Files included in the zip so please read that too.
Best Of Luck
Change Log
28-May-2013
Version 3.0.0 Modified by Alan Prothero
New Setting SecBAO
Default for SecBPO=20 instead of 10
Removed SlipCheck and Stop Loss Reset Code and MaxSlippage
Added Settings: NSec and AllowBuys and AllowSells
Bugfix: EA could open trades between news time and STWAN
Removed Setting CloseTrades (not needed on MT4 Build 500 or higher)
Risk Setting now takes into account SL distance
Added Sleep for 5 seconds when MaxSpread exceeded
In Version 2, I experimented with resetting Stops and Closing Trades if MaxSlippage was exceeded. What I found was that in practise, this code added too much processing to the EA and didn't work fast enough to deal with sudden price gaps or reversals. Personally, I'd rather have the EA run the Break Even or Trailing Stop code as early as possible. So I have removed the SlipCheck, Stop Loss Reset Code and MaxSlippage settings.
In Version 3, I have introduced a new feature called SecBAO. What this does is open orders 10000 Pointsaway from their final destination initially then if you set SecBAO=2 for example the EA will draw in the orders to the correct place at 2 seconds before News Time. This feature has many benefits.
1) You can open orders much earlier without fear of trades going live early. For various reasons, opening orders is the most dangerous time apart from News Time. The MT4 terminal has to handshake with the server possibly performing a login. In the meantime, price may spike and activate one of the orders.
2) If you want to open orders on multiple charts it takes a while especially during busy periods. Now you can set SecBPO much higher without worry.
3) If the broker 'freezes' just before news time for whatever reason, you used to be at the mercy of price action. Now your orders will simply remain too far away to be activated.
Bear in mind that SecBPO has to be greater or equal to SecBAO which has to be greater than SecBMO.
In theory, using SecBAO means you can use CTCBN=0. But I would stick to CTCBN=1 for any trade that is slightly volatile.
Another new feature is NSec. You can now specify the number of seconds for News Time. For example, Employment Trades often move after all the figures are released which is about 10 seconds after News Time. Bear in mind, that EAs run every time a price tick is received so this may not be exactly at the time specified. Also, you should double check your brokers clock to ensure accuracy before each trade.
There is a couple of new settings AllowBuys and AllowSells to turn off Long or Short Trades respectively.
CloseTrades is no longer needed on the latest MT4 Build 500.
I've added more information in the Text Files included in the zip so please read that too.
Best Of Luck
Attached File(s)
