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Discussion in 'Forex Market MQL5' started by James Goldman, Oct 1, 2020.

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  1. James Goldman

    James Goldman Moderator
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    #mynewstrader

    mynewstrader-logo-200x200-8924.png

    MyNewsTrader is a powerful and fully automatic EA that trades during news times.

    Due its heavy customization ability you can make it trade on your own your pre-defined strategy using market, stop or limit orders, advanced targets and different trail types.

    It is designed to run as a 'set and forget' EA meaning you don't have to type in any event times to trade, but you can also use it as a manual trader with its on chart buttons.

    There is built in event scanner that will look for string matches in the news title and only trade those events it has a match for.

    Recommendations

    • Choosing a good broker is critical because many brokers are widening the spread a lot during news times and that will make it a lot harder to profit during those times
    • Use a VPS close to your broker for better fill prices and faster execution times
    • FIFO restrictions? Change setting 'Order count per side' to 1
    Signals

    General settings

    • Order comments
    • Magicnumber - 0=autogenerate
    • Broker to GMT offset hours - important! example: -2 is when gmt is 2 hours behind brokertime
    • Maximum spread allowed - 0=any
    • Slippage - 0=any
    • Trade direction - choose trade directions
      • buy
      • sell
      • both
    • Order type - choose ordertype to use
      • marketorders
      • stoporders
      • limitorders
    • Ecn method - sl/tp is set after order becomes a market order
    • Stealth orders - hide sl/tp from broker, you can also use this if your broker has minstop limitations
    News settings

    • Include High impact - include high impact news
    • Include Medium impact - include medium impact news
    • Include Low impact - include low impact news
    • Include USD news - include USD events even if the current symbol is non a non USD
    • TradeEventStr - search for stringmatches in event name to trade. example "FOMC, CPI, Retail Sales". leave empty to include all events
    • SkipEventStr - search for stringmatches in event name to not trade. example "speaks, Speaks, Conference" leave empty to disable this filter
    • Show newstime verticle lines - show vertical lines when news times are on chart
    • Open orders +/- seconds to newstime - create/open order this many seconds to (+) or before (-) news. example: -5 will create orders 5 seconds before newstime
    Trade settings

    • Order counter per side - how many orders above and below price to create. only works if stop/limit orders are chosen
    • First order distance/entry - how many points from price to create first pending orders. or after how many points price have to move to enter marketorder.
    • Order to order distance - how many points between pending orders
    • Delete pending order after seconds - all pending orders will be deleted or it will not enter marketorder after this many seconds
    • Stoploss - 0=no stoploss
    • Takeprofit - 0=no takeprofit
    • First target - 0=disable first target. if disables Takeprofit is only target
    • First target partitial close percentage - close this pecentage of active lots when first target is hit
    • First target move to Breakeven - enable/disable move stoploss to breakeven if first target is hit
    • Trailing distance - trailstop distance (0=disable trailstop)
    • Trailing jump - trailstop jump/step (0=disable trailjump)
    • Trailing candle - enable/disable last candle trail mode
    • Trailing fractal - enable/disable fractal trail mode
    • Trailing fractal and psar - enable/disable psar mixed with fractal. only works if fractal tail mode is enabled
    • Trailing indicator timeframe - choose witch timeframe to get values from if candle/fractal/psar trail mode is enabled
    • Breakeven - move stoploss to breakeven after this many points (0=disable)
    • Breakeven jump - breakeven locks in this many points in profit (0=disable)
    Money management

    • Lots method - choose lots calculation method
      • fixed_lots
      • margin_mm
      • risk_mm
    • Lots value - lots size or percentage depending on what Lots_method you have chosen
    Tradetime settings

    • Daily start hour
    • Daily stop hour
    • Monday start hour
    • Friday stop hour - don't create orders after this hour
    • Friday close hour - close and delete all orders at this hour

    mynewstrader-screen-3598.png mynewstrader-screen-2687.png

     

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