News Trading EA

News Trading Strategy Requirements

General Overview

The news trading strategy is designed to capitalize on price volatility that typically occurs around significant news events. The EA places pending buy and sell orders at a certain distance from the current price a specified amount of time before a news event is scheduled to occur. The EA also includes risk management features such as stop loss, take profit, trailing stops, and an ADR filter to ensure trades are only placed when the market conditions are favorable.

Key Components

1. News Filter

   • The EA includes a hard-coded list of news events.
   • Ability to have option to input time and date use them
     
   • News events have attributes like Id , Start , Name , Impact , Currency , and Alerted .

2. Entry Signal

   • The signal candle is defined as the candle formed a set number of minutes before the news event.
   • Pending buy and sell orders are placed a specified number of pips away from the signal candle's price.

3. Pending Orders

   • The EA places invisible (hidden from the broker) buy and sell pending orders.
   • Orders are placed PendingDistancePips away from the signal candle's price.
   • Orders expire after PendingExpiryMinutes .

4. Risk Management

   • Fixed take profit (TP) and stop loss (SL) levels.
   • Trailing stop loss for open positions.
   • Order Splitting: Divide large orders into smaller chunks to reduce slippage and improve execution quality.
   • ADR (Average Daily Range) filter ensures trades are placed only if the pair's movement is less than a specified percentage of the ADR.

5. Order Types

   • The EA can place market orders, stop orders, or limit orders based on the EntryType input.

Inputs and Parameters

• NewsCurrency : Select the relevant currency for the news events.
• EntryType : Define the type of order to place (Market Order, Stop Order, Limit Order).
• TrailStopOrder : Enable or disable trailing stop orders.
• MinutesBeforeNews : Number of minutes before the news event to identify the signal candle.
• PendingDistancePips : Number of pips away from the signal candle to place pending orders.
• LimitStopTrailDistancePips : Distance in pips for trailing stop on limit and stop orders.
• PendingOco : Enable or disable One-Cancels-the-Other (OCO) pending orders.
• PendingExpiryMinutes : Time in minutes for pending orders to expire.
• MaxSpreadMarketOrders : Maximum allowable spread for market orders.
• LotSizeMethod : Method for calculating lot size.
• LotSizeFixed : Fixed lot size.
• RiskPercent : Percentage of account balance to risk per trade.
• SplitOrder: OFF - use Fixed lot or percentage lot to get the lot size to split.
• SplitOpositionNunber: Number of position to split an order.
• SplitLotDistance: Distance in pips between trades
• StopLossPips : Stop loss distance in pips.
• TakeProfitPips : Take profit distance in pips.
• RiskReward : Risk-to-reward ratio.
• WhenXPercentInProfit : Percentage of profit at which to trigger an action.
• ThenLockInXPercent : Percentage of profit to lock in once the specified profit level is reached.
• ADRPeriod : Period for calculating the Average Daily Range (ADR).
• ADRThreashold: In order to enter the daily ADR must be bellow the ADRPeroid
• NewsOption: Array or Custom Time
• CustomTime: 15/05/2024 11:57 - Can use calander to select

The EA must must use the formulas bellow in the .txt for custom max.


The code is attached to the body. Keep in mind the EA needs to be updating it self on every tick as well as managing traling.