Trade News EA is designed to trade news on the MT5 terminal using the built in calendar of the MT5 terminal. EA works fully automatic, and users only need to activate the desired feature and choose the type of news to trade.
How to use Trade News EA:
1. Determine the type of news to be traded.
2. Determine the lot to be used.
3. Manage pending orders:
3.1. Select pending type : Pending stop or limit. Placement of pending order is only on MT5 terminal, it will not appear on the broker’s server. Pending orders use the OCO (One Cancel Other) system.
3.2. Open Pending Order X seconds before the news: EA will open a pending order x seconds before the news.
3.3. Close Pending Order X seconds after the news: EA will close the pending order after x seconds.
3.4. Show timer before and after news: Shows timer
3.5. Distance of pending orders from the current price(in pips): Determine the distance of pending orders.
3.6. Step size to move pending order (in pips): the pending order will move x step size
4. Manage virtual SLTP, virtual Trailling and Break Even
4.1. Virtual Takeprofit and stop loss; Placement of stop loss and takeprofit is only on MT5 terminal, it will not appear on the broker’s server.
4.2. Virtual Trailing: Trailing will only appear on the screen, and will not appear on the broker’s server.
4.3. Break Even: ea will modify stop loss only one time when break even start is reached. This is to prevent open positions that have been profitable to become losses.