This MetaTrader 4 expert advisor is designed specifically to trade high-impact Non-Farm Payroll news events on USD currency pairs. It functions by placing a straddle of buy and sell pending orders at a set distance from the market price shortly before the news release. Once the market breaks out and triggers one order,
Trading robot · MT4
News Catcher EA
News Catcher EA is an automated trading robot for MetaTrader 4 designed to trade market volatility typically associated with news events.
GitHub stars1
Forks3
Last update8 years ago13 Apr 2018
LicenceNone stated
Overview
News Catcher EA functions by placing pending buy and sell orders at a specific distance from the current price at a pre-defined start time. The EA manages trades using a configurable trailing stop, which can be optimized with a millisecond timer and a minimum step. Risk controls include a fixed lot size and a hard stop loss. The repository provides no README documentation, but the code implements logic for shifting pending orders and monitoring spreads.
- Time-triggered pending order placement
- Customizable trailing stop with millisecond timer
- Adjustable distance and calm corridor settings
- Fixed lot size and stop loss management
Details
Author
oleg518 on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
News, Breakout
Markets
Forex
Timeframes
M1-M5, M15-H1
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from News Catcher EA.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
o1 | string | ---------- Trailing -------------- | |
Dist | int | 200 | Distance of pending order from the price |
TrailingStop | int | 40 | Trailing distance (0 - without trailing) |
TSz | int | 10 | Trailing step |
tttimer | int | 100 | Trailing by timer (ms), 0 - trailing without timer |
o2 | string | ---------- Pending orders ---------- | |
Stoploss | int | 50 | Stoploss, 0 - without stoploss |
TimeModify | int | 1 | Interval of shifting pending orders, s |
Kor | int | 50 | "Calm corridor", 0 - without |
o3 | string | ---------- Time ---------- | |
timeStart | datetime | D'15:29:50' | Start (place pendings) |
timeFinish | datetime | 0 | Finish (delete pendings) (not necessary, 2 min) |
Show all 16 inputs
| Name | Type | Default | Description |
|---|---|---|---|
o4 | string | ---------- Other --------------------- | |
tester | bool | false | Pendings now and permanent |
Lot | double | 0.01 | Lot |
show_spread | bool | true | Show spread |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone oleg518/forex-mql-ea from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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