EA News Scalper

Introduction



EA News Scalper is a MetaTrader expert advisor developed to help Forex traders with news trading opportunities that arise during important macroeconomic releases. The EA can be used to trade news volatility straddle strategy. It is important to understand that EA News Scalper is not a fully automatic solution — a trader has to set the date and time of the news release and also to decide on the appropriate stop-loss and take-profit. However, ATR-based stop-loss and take-profit setting is available too. This EA supports flexible position sizing in addition to the usual fixed position size. It is available for the following trading platforms: MT4

EA News Scalper opens one or two trades (Buy and Sell by default) some time before the news announcement (1 minute by default). It applies stop-loss and take-profit levels according to the input parameters given by a trader. If requested by the trader, the EA continues to modify stop-loss and take-profit levels until the very release of the news to keep them relevant to the current price. When the news is out, the expert advisor will apply trailing stop according to the trader's choice. If one or both trades remain active one hour (by default) after the news, the EA closes them.
Trade example

EA News Scalper expert advisor supports two position sizing modes: plain fixed position size and risk-based position size. The first mode is very simple — a trader just enters a volume in lots to be used with every position opened by the EA. The second mode enables either common fixed fractional position sizing or fixed money risk position sizing. Both use the maximum tolerated risk given as percentage or as money.

https://www.myfxbook.com/members/mustaffamahat/ea-news/2190757

The expert advisor can use Average True Range indicator to automatically choose stop-loss and take-profit levels for a news trade base on the preceding volatility of the currency pair. ATR value is calculated based on the given period. The stop-loss and take-profit are then calculated based on separate multipliers before entering opening a position.
No backtesting

Due to the nature of the EA News Scalper, there are no backtesting results for it.
Input Parameters

    EA News Scalper — date and time of the news release to trade on. In cTrader, there are five separate parameters instead: year, month, day, hour, and minute.
    StopLoss (default = 100) — the stop-loss in pips to be used when opening a trade. Ignored if UseATR = true.
    TakeProfit (default = 500) — the take-profit in pips to be used when opening a trade. I recommend setting it to at least 5×stop-loss. Ignored if UseATR = true.
    Direction (default = Both) — the direction of the position opened to trade the news. Can be of the following four types:
        Buy — a buy position.
        Sell — a sell position.
        Both — both buy and sell positions.
        Random — a random position.
    Notes: In MT4, the Both option is called Both_Pending because it is impossible to open two opposite positions for the same currency pair in MT4, so pending orders will be used instead. In cTrader, the direction choice is made by a trader using three separate input parameters (Buy, Sell, Randomize) as the platform does not support enumerated parameters.
    TrailingStop (default = Breakeven) — the type of trailing stop to use with the position. Can be the following:
        Breakeven — the stop-loss will be moved to breakeven when the profit matches stop-loss.

What news are worth trading?

    Any big news are good for this EA: interest rate decisions, central bank minutes releases, CPI, GDP, trade balance, employment reports, etc. The more important the news the better the chance to hit take-profit.

What stop-loss and take-profit should I set?

    I recommend setting 10 standard pips stop-loss and 50 pips take-profit on such news as GDP, CPI, or retail sales. 15-20 pips stop-loss and 75-100 pips take-profit on such news as FOMC rate decision, FOMC minutes, or NFP.

What currency pairs are good for News Trader?

    It can work with all trading instruments,


       
        When using two positions (both Buy and Sell), there is a small risk of both hitting stop-loss. In this case, you may experience a loss twice your original intended risk size.
        Price gap after the news may result in your stop-loss executing at a worse price, adding extra loss to the bottom line.

Type: Software For Automation

• Strategy: Scalper
• ALL Pairs
• Timeframe: M30
• Account type: ECN ONLY and PRO account is important.
• Recommended risk is 5% per
•  trade (the EA is selected by default 15%)
•  Recomendet brocer: Alpari

PRICE Only  $187

PRICE Only%$70

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