News Trader EA - page 123
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60sma
Mr Tools
Thanks for the quick reply..
Not sure why my attached image isn't displaying correctly, as it shows the 60SMA on the chart..I hope this JPEG is better
Just to clarify I enter the trade when the price crosses back over the 60SMA. The attached chart is from this mornings GBPUSD trade.
Can you explain how the entry logic works with the current EA, as I also use a limit order which might also be worth adding this additional trade option in the future..
Brief explanation
News Limit Order:
- 1-1 risk reward ratio
- Buy / Sell limit order placed on the close of closing 1M candle before the news
- Buy / Sell limit Stop Loss - 10/20 pips (this varies depending on the currency pair)
- Buy Sell limit price 20 pips from closing 1M candle
- TP 30 pips
- Close limit orders after 30 minutes
60SMA:
- If the price goes +/_ 50pips from the close of the 1M candle before the News then open buy / sell trade once the price crosses the 60SMA
- Again target is about 30 pips
Regards, Jason
Mr Tools
Thanks for the quick reply..
Not sure why my attached image isn't displaying correctly, as it shows the 60SMA on the chart..I hope this JPEG is better
Just to clarify I enter the trade when the price crosses back over the 60SMA. The attached chart is from this mornings GBPUSD trade.
Can you explain how the entry logic works with the current EA, as I also use a limit order which might also be worth adding this additional trade option in the future..
Brief explanation
News Limit Order:
- 1-1 risk reward ratio
- Buy / Sell limit order placed on the close of closing 1M candle before the news
- Buy / Sell limit Stop Loss - 10/20 pips (this varies depending on the currency pair)
- Buy Sell limit price 20 pips from closing 1M candle
- TP 30 pips
- Close limit orders after 30 minutes
60SMA:
- If the price goes +/_ 50pips from the close of the 1M candle before the News then open buy / sell trade once the price crosses the 60SMA
- Again target is about 30 pips
Regards, Jason
Hi Jason ,
With this Ea you would just have it place the orders 50 pips from when the news happens the problem is that the Ea is made to place the orders just before the news so the only thing i could figure is use the Ma as a trend confirmation, determining the trend a minute or so before the news happens to do it the way you are describing not sure if it can be done with this type of Ea, would require some sort of delay.
About this Ecn version it doesn't place pending orders, problem is the Ea uses the time specifically for trading, with Ecn brokers there is a problem with different expiration times with different Ecn type brokers and not sure how this will affect it, but going to try and see what happens. Have been thinking this could be why the Ecn version, was coded without pending orders.
60sma
Hi Jason ,
With this Ea you would just have it place the orders 50 pips from when the news happens the problem is that the Ea is made to place the orders just before the news so the only thing i could figure is use the Ma as a trend confirmation, determining the trend a minute or so before the news happens to do it the way you are describing not sure if it can be done with this type of Ea, would require some sort of delay.
About this Ecn version it doesn't place pending orders, problem is the Ea uses the time specifically for trading, with Ecn brokers there is a problem with different expiration times with different Ecn type brokers and not sure how this will affect it, but going to try and see what happens. Have been thinking this could be why the Ecn version, was coded without pending orders.Sorry i'm not very technical, but I kind of understand the problem you're describing.
Is it not possible to use the 60SMA to open a buy or sell when the price crosses it?
All It really needs for entry logic is has the price dropped or gone up 50pips since the close of the 1M candle just before the news and has the price crossed the 60SMA within the time limit of 30 bars since the close of the 1M candle before the news.
You can see from todays USDJPY trade today that the price dropped more than 50 pips, and the price crossed back above the 60SMA but if I was trading this manually I wouldn't enter the trade as it was more than 30 bars (30 minutes).
Anyway the coding is appreciated..and look forward to hopefully making this great EA better
Jason
Updated results for this week (high impacted news events only, NewsTrader_v5.3 EA, nfp settings) - in 4 digit pips.
EURUSD: -18.
GBPUSD: -1.
USDJPY: 117.
USDCHF: 0.
AUDUSD: 0.
USDCAD: -24.
NZDUSD: 0.
---------------
Most risky pair to trade the news is GBPUSD and most safe is USDCAD (for NewsTrader_v5.3 with nfp settings - see 1st post of this thread).
Updated results for this week (high impacted news events only, NewsTrader_v5.3 EA, nfp settings) - in 4 digit pips.
EURUSD: 0.
GBPUSD: 13.
USDJPY: 0.
USDCHF: 0.
AUDUSD: 0.
USDCAD: -60.
NZDUSD: 0.
---------------
Most risky pair to trade the news is GBPUSD and most safe is USDCAD (for NewsTrader_v5.3 with nfp settings - see 1st post of this thread).
Updated results for this week (high impacted news events only, NewsTrader_v5.3 EA, nfp settings) - in 4 digit pips.
EURUSD: 6.
GBPUSD: 155.
USDJPY: 0.
USDCHF: 0.
AUDUSD: 28.
USDCAD: -120.
NZDUSD: 0.
---------------
Most risky pair to trade the news is GBPUSD and most safe is USDCAD (for NewsTrader_v5.3 with nfp settings - see 1st post of this thread).
Updated results for this week (high impacted news events only, NewsTrader_v5.3 EA, nfp settings) - in 4 digit pips.
EURUSD: 22.
GBPUSD: -6.
USDJPY: 0.
USDCHF: 0.
AUDUSD: 0.
USDCAD: 0.
NZDUSD: 0.
---------------
Most risky pair to trade the news is GBPUSD and most safe is USDCAD (for NewsTrader_v5.3 with nfp settings - see 1st post of this thread).
Broker
New Digital
Can you let me know what Broker you are using, as I've been test the ECN version of the EA on demo accounts and get quite different results.
Thanks
Jason
Alpari.
I did not test ECN version yet but I do not think that it may be different from v5.3 version.
But I did not test ECN version sorry.
Hi theforexedge,
I can start to trade ECN version too this week for FXCM so we can compare.
But it should not be much difference. It can be difference any because of ECN nature of the settings.
Besides, if you are using NewsTrader_v5.3_ecn+mafilter EA so it is different from what I am using - this NewsTrader_v5.3_ecn+mafilter EA places the orders 50 pips from when the news happens with Ma as a trend confirmation.