Need help with pre-news hedging EA

Greetings all. i have an idea that i think it is useful and i want to post it here to see if any coder can help us. trading new can be gainful if there are no spillages for brokers. so i thought of a way to avoid that by hedging the market some minutes before news in order to take advantage of the spike. the idea is this

buy and sell position at the same time 3 minutes before news time. our EA will place the take profit and stop loss in stealth mode at about 20 seconds before the news. tp 30 and sl 15 for instance. if at news price heads north, the sell stop loss will be trigered at 15 pips and the buy take profit will fly. can any coder help us in this regard.

i have successfully traded this system with the attached ea but the problem with this wukar ea is that i had to reset the stop loss and thereby loose time. secondly, it does not have input for predefined stop loss and take profit to adjust at particular time hour minutes and second.

coders help please.

What if your 15 pips SL (on the sell hedge) is triggered, but the upwards spike does not reach the 30 pips TP and the price starts heading down...?

Also, due to high spread and major slippages seen during major news the 15 pips SL could be easily filled at -25 or -35 pips, i.e. the loss could be even larger than the profit.

if you want to trade news you should not use a stealth tp as the ea will need time to send the actual stop loss order to the broker resulting in unnecessary slippage. Do some reading on the topic price time priority. Even if this does not apply to your broker you are still a tick late for your sl to be executed.

Please test it.

this is not going to work because slippage is a killer.

i understand that slippage is the major monster of news trading but i am trying to find a way to avoid it. i think entering the trade before news is the first step but how it will affect my stop loss and tp is what i am struggling with. thanks all for your contributions though.

Hello, I use the same strategy but with manual trading, as the unexpected spread widening that occurs during high impact news can screw up the bot logic pretty hard. You can consider widening your stops and hedge interval and begin lower lot size, this way you can manage the chaotic moments before the actual spike appears-

Correct. I am not sure if there were a way to get around the impact of the large spreads and huge slippages during major news releases.

When large impact news come out, both (i.e. upper and lower) stop losses could be triggered in an instant with huge slippages, so the setup might end up with 2 x -15 pips (+slippage) within 1 second.