News Catcher Range Breakout MT4 EA

News Catcher Range Breakout MT4 EA

News Catcher Range Breakout MT4 EA

"Trade on news and capture sudden price movement"

What this EA does:
This EA will help you trade on News.

User input the news hour and time or read the next news date and time from a text file.
The text file should be in MQL4\Files folder for live trading.
and in tester\files folder for back test.

Specify trading window time, start minutes before and end minutes after news.

User can also trade after the news to avoid risk of slippage
and capture price reversal or continuation by
putting minus sign in the "Minutes Trade Start before News" parameters.
It becomes trade start minutes after news.

Use Price(avg bid & ask) as the base.

Add distance pts on top and bottom of the base to create range.

Send Pending BUY STOP @ range high and SELL STOP @ range Low.
Sandwiching the price to catch price sudden movement.

Features or Setting:

Parameters must be re-tune or recalibrate according to pairs and market condition.

Option to delete or leave pending orders after trading window closed.
Option to close or leave open orders after trading window closed.

Order Frequency to limit over trading
or to trade Long only or to trade Short only
if there is strong trend in fundamental or macroeconomics.

Trailing Stop, SL trail market price by pts
when triggered pts from Order Price.

Locking Stop or Breakeven Stop, Lock SL at Order Price by pts
when triggered pts from Order Price.

Partial Close, close partial(some) lot
when triggered pts from Order Price.

Partial Close, close partial(some) lot
when triggered minutes after the news.
Secure profit ASAP after news but trading window still open to catch if there is price reversal.
or do not secure profit and expect price make a continuation move or hit target.

*Martingale* option to change lot size after number of trades.

Equity Stop to delete and close orders when triggered.
(*Orders from this EA or all orders within this account)

Disclaimer:
There is no winning guarantee.
Treat this EA as a tool to help you trade, to test on your theory or strategy or parameters.
Combine it with other techniques, fundamentals, macroeconomics.
Since this is a breakout strategy, always look for strong trend or strong momentum
like news, trading session opening (Asia Session, London Session, New York Session).
If you are trading on USD pair, look for USD news and New York opening Session.

Risk:
Slippage,
Sudden Spike and Reversal at the same time,
Sideways or weak momentum hitting multiple StopLoss

Recommendation:

USDJPY pair and trade on US news with high importance
XAUUSD and other pair also can.