News Trader is a semi-automatic expert advisor for MetaTrader 4 and MetaTrader 5 designed to execute trades around high-volatility economic announcements. Users manually input the scheduled news release time, and the robot opens positions a specified number of seconds before the event. It supports single-direction trad
News trading · MT5
News Trading Algo
This MetaTrader 5 expert advisor executes trades around high-impact news events using data provided in a local text file.
GitHub stars1
Forks0
Last update2 years ago4 Jun 2024
LicenceNone stated
Overview
News Trading Algo monitors specified timeframes for liquidity grabs and trend direction defined by two exponential moving averages. The algorithm is designed to place orders shortly before scheduled news releases. Risk management includes fixed position sizing, stop loss, and take profit targets defined in ticks, along with a break-even function. The repository lacks a README, requiring users to format their own news data files based on the GBPUSD example provided.
- News-based entry via external text file
- Dual EMA trend filtering
- Automated break-even and stop loss
- Liquidity grab detection logic
Details
Author
JanekKosa on GitHub
Type
News trading
Platform
MetaTrader 5 (MQL5)
Strategy
News, Indicator crossover, SMC / ICT / price action
Markets
Forex
Timeframes
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 Trading Algo.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
emaTimeframe | ENUM_TIMEFRAMES | PERIOD_M15 | |
lqTimeframe | ENUM_TIMEFRAMES | PERIOD_M15 | |
positionSize | double | 0.1 | Position Size |
profitTarget | double | 100 | Profit Target in Ticks |
stoploss | double | 1000 | Stop Loss in Ticks |
breakeven | double | 800 | Break even in Ticks |
lesserEmaPeriod | int | 10 | Faster EMA period |
greaterEmaPeriod | int | 30 | Slower EMA period |
NameOfFileWithNewsDates | string | News_GBPUSD.txt |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone JanekKosa/Forex-News-Trading-Algorithm- from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 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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