Description
EA has a live track record
Live performance (very high risk account)
Price will be kept high to lower the number of users for this system!
News Catcher Pro is a mean-reversion strategy that uses intraday seasonal volatility patterns caused by high-impact news events. It enters the market at a certain time shortly before a high-impact news eventoccurs. It does not trade frequently!
Supported currency pairs: GBPUSD, EURUSD, EURGBP
Recommended timeframe: M5
MT5 version can be found here
EA is FIFO compatible
The EA does not use martingale or grid, each trade protected bya stop loss! To backtest the EA you should download the news events data file ‘NewsEvents.txt‘ and copy it to the common MT4/5 directory – ‘CommonFiles’ (File -> Open Data Folder -> Up to ‘Terminal’ -> Common -> Files). The data file can be found in the Comments section.
Features:
- One Chart Setup: you only need one chart to trade all symbols
- Multiple currency pairs support
- Solid backtest and live performance
- Advanced News Filter (can be used in Strategy Tester)
- Auto GMT detection
- Self Diagnostic System
Backtests should be done with Tick Data Suite GMT+2 with US DST. This GMT offset is used by most brokers
How to install
- The EA must be attached to ONLY one M5 chart, EURUSD is recommended
- If your broker uses a suffix (e.g. EURUSD.a) you should update names in the Symbol parameter
- Use recommended pairs only. You don’t need .set files, all settings are stored internally in the EA
- Please allow web requests to the following URLs for news filter and GMT detection (delete spaces!):
- https: //ec.forexprostools.com
- https: //www. worldtimeserver.com
- http: //timesrv.online
Requirements
- The EA should run on a VPS continuously
- Good ECN broker is preferable
Setting
- Allow Opening a new Trade – on/off opening new trades
- Lot-sizing Method – select the lot sizing method according to the risk you want to take: Fixed Lots will use fixed lot size from the “Fixed lot” parameter, Dynamic Lots will use Dynamic Lot parameter, Max Risk per Trade will calculate lots based on % risk per trade, 3 predefined presets will calculate risk automatically for you
- Fixed Lot – fixed trading lot
- Dynamic Lot – balance/equity to be used per 0.01 lot
- Maximum Lot – max allowed trading lot
- Maximum Spread, in pips – max allowed spread for position closing
- Maximum Slippage for a non-ECN acc, in pips – max allowed slippage
- Maximum Symbols at a time – max allowed number of symbols that can be opened at the same time
- Maximum Net Number of Currencies – max allowed number of open trades with the same currencies (not symbols/currency pairs) in the same direction
- Allow to Buy/Sell – on/off Buy/Sell trades
- Allow Hedging – allow opening multi-directional trades on the same symbol
- Minimum Free Margin % – if Free Margin% falls below the specified value, the EA will not place new pending orders and will cancel already placed ones
- Max Floating Drawdown % (in Money) – if current floating drawdown exceeds the specified % (value) the EA will close open positions
- Max Drawdown Action – allows specifying actions to be taken after the max. drawdown is reached (in money or %)
Strategy
- Symbols separated by comma – list of pairs to trade. Suffix needs to be included if your broker uses one!
- PCh Period – period of the price channel (PCh)
- PCh Offset – offset for the PCh levels
- ATR Period – period of the daily ATR indicator
- Position Time Stop – max position holding time, in M5 bars
- Hour to Stop Trading on Friday – hour to stop trading on Friday. All open positions will be closed at this hour
- New Year Holiday Filter – on/off Christmas/New Year filter
- TakeProfit / StopLoss, %ATR – volatility-based take profit / stop loss in %ATR
- Hide StopLoss – on/off SL hiding
- News Filter Enabled – on/off News Filter
- Minutes Before/After Event – allow trading before/after the high-impact event
Others
- Trade Comment – comment
- UID (0…9) – unique EA instance number. Usually no need to change it
- ShowPanel – on/off Info-panel
- Disable Automatic GMT Detection – set it to ‘true’ to disable automatic GMT detection. You can use the GMT Test/Manual’ and ‘DST Test/Manual’ parameters to manually set the GMT offset in live trading.
- GMT/DST Test/Manual – GMT offset in winter and DST
